A recent study performed by actuaries, not environmental scientists, predicted a possible 50% global drop in GDP by 2070-2090. 50%! Scientists have been sounding the alarm for decades, but you know it’s bad when actuaries are doing the same thing. When the alternative is certain collapse, the alternatives become priceless. No matter what happens at this point, global society cannot exist in its current form in the future.
It is very important to remain sharp and swift in a time like this
No. Unless you had a ton of money in the account and you were already very close to retirement it just wouldn’t make sense. There are a lot of penalties when you pull an account early. I made a hardship withdrawal back in 2023 to make the down payment on my first home and that made sense for me, but even that type of thing isn’t right for everyone.
Your 401k will rebound eventually, retirement investment requires you to play the long game. If things get bad enough that your 401k is wiped out entirely then it really won’t matter whether or not you pulled the money out because it would likely be worthless in that situation.
It may be wise to change your elections so that the investments are less aggressive/volatile if you have that option, but otherwise try not to think about the total dollar amount as the economy shits the bed. It’s not like a bank account where the dollars equal dollars directly, the value of the investments can change quickly.
We’re already absolutely fucked here in the US, no need to waste any effort with further meddling at this point. The cure for this, globally, is that everyone needs to log off and touch grass. Obviously it’s much more nuanced than that, but I hope that makes sense. I deleted most of my social media and it has only had a positive impact on my well being.
Just like Gen Z fucked up by being in elementary school or even diapers instead of buying property in 2008. You’ve goofed by not building factories instead of eating, where’s your grind mentality?
I could hear a handful of podcasts out there saying this unironically. Society is cooked