U.S. oil company workers made a big, bad retirement bet: their own stock

) - held $44 billion of 401 assets for some 66,000 workers at the end of 2018, 36% of which was made up of company stock, according to the filings that contain the latest available data.

He said company stock can easily accumulate in 401 accounts that receive matching contributions in shares, and that workers tend not to rebalance their portfolios when they get lopsided. “Ultimately, participants go where they are nudged.” But workers at Chevron were near the top of the list with the most lopsided bets on company shares. Chevron’s 401 plan held $6.4 billion in company stock at the end of 2018, or 38% of nearly $17 billion in net assets, disclosures show.

It's all a big bad bet. “On a long enough timeline, the survival rate for everyone drops to zero.” Every company is doomed - long term. This is truly a prison planet and the god of this world is satan. 2Corinthiansc4v4 And the 'elite' are laughing at us. EatTheRich

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