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No. It's a pretty secure savings engine. Even if you had a loan out against the account, they reserve a portion of the account as collateral, as I view it. Let me go research that right quick.
I think the biggest risk would be if your holding institution went tits up and you had more than is covered in FDIC, you would only recover the FDIC limit. I think. Anyone confirm that?
Now, a fun question there is, if there was a crash out of the holding institution, would 47's FDIC manager pay out.
Another fun question is, if this isn't protected by FDIC because you own the investments which are external to the holding company:: are you really holding the investments you selected? During the fervor of the GME due diligence, it was surfaced that when you buy a stock on the open markets, it is but a right to a stock, not the actual thing. So, your access to those rights could get rug pulled too, if things get too crazy and system risk becomes too high. I think that the chances of this rug pull are super low for msot investments in a 401k. Generally retirement savings plans are slow moving investment engines, so for instance, if I schedule a change in my 401k investments, it trades, not at the time of request, but at the end of day. There are also high frequency trading limits in some of them.
In case you want to learn what the GME due diligence found: https://fliphtml5.com/bookcase/kosyg
House of Cards is a good starting point to understand how the current stock trading machine functions.
I'm starting to wonder if I should be switching my savings to Euros or Chinese Yuan or something.
If the FDIC fails or is shut down, a bank run is almost inevitable.
I still don't know where donvict's plan (lol, "plan") is at regarding FDIC, but early on, there was musings about how they were going to "abolish the FDIC".
I swear to Zeus that the dumbfucks that follow donvict would be 100% for that if they were told something something argle bargle FDIC is woke and filled with nCLANGers, oops, I mean "DEIers". Even if abolishing FDIC would be a perfect speed-run of causing a Depression 2.0 style run on the banks.
FFS. So much dumb.
https://theweek.com/business/economy/fdic-function-trump-elimination
When you get a 401k loan, it is treated as a loan, it looks like, from yourself. Only risk there is if you default, it then switches to a disbursement and has a 10% penalty and probably some sort of tax implication.