Vanguard is too big to fail. I hate that term, because it has a history of being used by CEOs to mean “please bail us out for our stupidity”, but it’s absolutely true in this case. If Vanguard goes under, literally the entire US financial sector is going with it, and you’ll have a whole lot more to worry about than retirement savings.
I share your distrust, and I’m still pissed that there weren’t more serious consequences for banks after the 2008 bailouts, but that literally can’t happen with Vanguard. Vanguard has over 10 trillion dollars in assets under management. The entire US budget for 2024 was 7 trillion. The only way the government could bail them out is printing trillions of dollars, which will lead to hyperinflation, and nobody wins in that scenario.
Vanguard is too big to fail. I hate that term, because it has a history of being used by CEOs to mean “please bail us out for our stupidity”, but it’s absolutely true in this case. If Vanguard goes under, literally the entire US financial sector is going with it, and you’ll have a whole lot more to worry about than retirement savings.
They’ll find a way to protect the financial sector but not you personally. Sorry, it’s necessary for economic stability.
I share your distrust, and I’m still pissed that there weren’t more serious consequences for banks after the 2008 bailouts, but that literally can’t happen with Vanguard. Vanguard has over 10 trillion dollars in assets under management. The entire US budget for 2024 was 7 trillion. The only way the government could bail them out is printing trillions of dollars, which will lead to hyperinflation, and nobody wins in that scenario.