Starting this off, I know fuck all about stocks, etc. I do know I have a sum of money in a 529 account. It has been accumulating for around 15 years. My parents started it when I was young as a college savings. I now have my associates, and my current employer will pay in majority for the rest of my school, as I intend to pursue a Bachelors.
With that in mind, right now, everything is screaming recession. I have memories of 2008, and what it was like being younger watching my parents go through that. I am very, very nervous about losing what money I do have in that account if the markets bottom out.
My parents think I should keep it in there and it will be safe, but I feel like I heard similar things when I was young. Everyone thinks their money is safe, until it isn’t. Clearly, I am very, very conservative when it comes to risk. But I feel like I do not want to be risking literally a life savings.
I understand there is a penalty when pulling from this type of account, but is it worth it to make sure that I don’t lose anything else?
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