Unless everyone has YOLO’d their entire retirement into NVIDA the AI bubble burst isn’t going to wipe out retirement savings to zero. Even the worst drop in the US stock market in history (which triggered the great depression) eventually dropping 90% at its worst recovered nearly half loss in 2 years. Even that drop wasn’t in one day, it happened over months.
I’ve never broken the median income for my city and I have retirement savings. I can see how my situation would change if I had kids, but if your employer gives you benefits like an actual human being, it is as simple as opting into the 5% deduction or whatever. It comes out before taxes and before direct deposit so you barely notice it is even missing.
Working class people already know this. Who is this news for? Who is clutching their pearls right now?
People who might be told it’s their own fault for not having saved enough rather than it being a systemic issue, I guess
Soon as the depression really kicks off and the ai bubble bursts, all those savings people do have are going to be wiped out too.
Unless everyone has YOLO’d their entire retirement into NVIDA the AI bubble burst isn’t going to wipe out retirement savings to zero. Even the worst drop in the US stock market in history (which triggered the great depression) eventually dropping 90% at its worst recovered nearly half loss in 2 years. Even that drop wasn’t in one day, it happened over months.
That’s deeply unfortunate if you were planning to retire next year, but you might just have to live simply for a few years while the market recovers.
Otherwise, no big deal unless we reach Russian or Argentinian levels of collapse.
That’s possible. The East Asian demographic cliff, a US debt crisis, global soil collapse, there are plenty of imaginable scenarios.
But none of them have happened yet, unless you live in Argentina or were a Soviet citizen. The west could continue to get lucky.
I’ve never broken the median income for my city and I have retirement savings. I can see how my situation would change if I had kids, but if your employer gives you benefits like an actual human being, it is as simple as opting into the 5% deduction or whatever. It comes out before taxes and before direct deposit so you barely notice it is even missing.