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Parental Advice (lemmy.zip)

submitted 10 months ago* (last edited 10 months ago) by fortniteplaya@lemmy.zip to c/asklemmy@lemmy.ml

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What is a good piece of advice from your parents or that you’ve learned that others may not know or that you wish you were told as a child/teen?

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[–] sosodev@lemmy.world 10 points 10 months ago

401k (employer sponsored) and IRA (individual account) are managed by investment companies. They’re not a state operated asset. It seems unlikely that the government would move it away from these investment companies because they’re probably great a lobbying.

The law states that these retirement accounts should be completely untouched and recoverable if the company goes bankrupt.

Historically the market returns have been around 7% annually over the long long term but that fluctuates a lot and might not even be possible into the future but America is good at pumping those numbers up so idk.