Greener Pastures: Personal Finance

Personal Finance. Politics. Health. Environment. Life.

Today is Wednesday, January 07th, 2009

The Market Has Fallen and it Can’t Get Up.

September 30th, 2008 • Related • Filed Under

The sky is falling. And at this point, I may never be able to retire. Ever.

I’ve been doing everything I’ve been told to do in planning for my retirement. I’ve diligently lived with less, as I pumped money into my 401k. I’ve trusted that this new 401k system would work, even when I knew I really didn’t understand the markets, the rules of investing, as well as I should.

The days of guaranteed retirements through social security and pensions are over, and just in time for Big Business to sidestep the fallout.

George Bush, puppet of corporate America, is putting the final deregulated icing on his fallen cake.

He’ll go home, still rich from his oil deals, but what are the rest of us going to do?

There Are 3 Responses So Far. »

Comment by Scott @ The Passive Dad on 30 September 2008:

This has been one tough month and I can’t imagine how retirees or workers who are looking to retire in the next few years are feeling. Restless or noxious are probably don’t describe the feelings they are going through. Add to the stock market, many homeowners have watched homes drop 30% plus and might have looked to that as the only source of investment income for retirement.

Diversification is possible through mutual funds and stocks, but it’s not as easy with the primary residence. Hopefully the housing will level out here in California and stop the bleeding.
Comment by Lisa on 2 October 2008:

Yea, I think California has been hit hardest. I’m just trying to think back to the last time it was this bad, and how we recuperated from it. Hopefully in this case history repeats itself. Thanks for your comments, Sam- Lisa
Comment by fern on 3 October 2008:

Well, now i feel even better about prepaying my 6% mortgage for the past 13 years. Those savings are locked in, unlike my stock mutual fund investments.