My retirement fund that I just started was worth $15k in December of 2021. Then, May of 2022, our area was hit really hard. My retirement plan went down to $7k. Today, it’s worth $11k. I lost $4k on my retirement plan. It’s invested in total market funds, some tech, some big cap companies, and healthcare. But every sector has been ravaged by the stock market changes.
They likely were using a full retirement fund, like VTINX or Vanguard Target 2030 or something like that. All of them tanked in the end of 2021 up to target 2060. Even my shares in the Total Bond Index tanked then, and those are supposed to be as low risk as possible, literally.