This is always the advice given by the “experts” during retirement “workshops”. Have money and invest as much as you can into broad diversified funds. That the market will always grow in the long run because it has so far is taken as almost a guarantee, yet every one of these workshops will include a disclaimer of “Past performance is not indicative of future results”. At some point I feel like there’s going to a massive rug pull as the rich encourage everyone to put as much money as they can into the system so the rich can use it as exit liquidity. What’s even better is that with retirement accounts, you’re not allowed to pull out your money until decades into the future without massive penalties, and any changes in your allocations take at least a day to be made. Meanwhile the ultrawealthy have sub-millisecond algorithms at their disposal.

I’m sure when the great rug pull happens, every genius that espoused the common advice will come out and claim that obviously it wasn’t sustainable (like the tech bubble or countless other bubbles) and repeat the magic words “Past performance is not indicative of future results”, then they’ll all suggest some other investment vehicle and that’ll become the new common knowledge advice that everyone should follow until that also becomes unsustainable.

No thanks, I’ll just do the company match for a guaranteed pay amount and enjoy the rest of my money while I’m young, instead of stashing it away and hoping it doesn’t get fucked with in the decades before I can draw from it penalty-free and maybe having a decent chunk of money when I’m old and less capable of enjoying it.