To further elaborate the above, I am a 2016 (millennial generation) graduate and was hired by my company a couple months ago and they match at the first 6% investment for every $0.50. What was the cause of people loosing their 401ks in 2008/2009 by big banks like JP Morgan, Bank of America and Goldman Sachs? And 2) is it worth it for a millennial to invest in them? I am also very risk adverse and hesitant to invest in a 401k and have all the $ I invest lost to risky investing by a bank such as the ones above. With that said I therefore have a distrust in the banks after 2008/2009. Also as a side note after taxes my yearly income is less than $26,000, which makes me that much more adverse in investing considering that I'm on a tight budget due to the income level of my entry position at the company.
Also considering that Trump wants to dismantle Dodd Frank this makes me even more risk adverse.
Submitted July 25, 2017 at 08:32AM by dfc2916 http://ift.tt/2tVQMYy
