Americans are withdrawing their 401k money early - experts are calling it "a flood"

[KingCharlemagne]

26. Fair enough. I will say again that workers need to make sure their choices about

where they put their retirement money should match their (true) risk profile. Meaning workers need to do some serious self-scrutiny to determine how able they are to sustain losses. The less fortitude or tolerance they have, the higher the percentage of their funds should go into Money Market funds or their like (short-term bond funds, etc.).

And it should go without saying that, as workers near retirement age, they shift funds out of equities and even bonds and into the Money Market arena, so that their exposure to market volatility is sharply limited or reduced.

In addition to having qualms about the morality of private ownership of the means of production, I also have serious moral qualms about a system that requires workers to learn about stocks and bonds. I mean, at a certain level it's kind of fun -- especially if you like or enjoy math -- but it also gets to be deadly boring. I've thought of marketing a stock market guide under the rubric of being a sure-fire cure for insomnia!