JackieB
10-09-2008, 03:12 PM
The Economy - It was good while it lasted. :):)
Dang! I sure hope that the bottom of this drop shows up soon.
For those of you who don't understand what this means, perhaps younger forumers without retirement plans yet, this is a huge deal. Workers in the middle or later portions of their careers who have to fund their own retirements through savings and have invested in mutual funds (collections of stocks) over the years are seeing their balances plummet. They're looking at having to work many, many more years than they previously thought to be able to retire.
Hopefully the market will come back in the near future, but be sure to cut a friend, parent, grandparent, or whatever a bit of slack if that person is frustrated and irritable. It's very difficult to see one's nest egg go down so much. It can make a person feel like all that hard work didn't really count for much. That's untrue of course, hard work is valuable no matter what, but such feelings are only natural in a time of such stress.
Dang! I sure hope that the bottom of this drop shows up soon.
For those of you who don't understand what this means, perhaps younger forumers without retirement plans yet, this is a huge deal. Workers in the middle or later portions of their careers who have to fund their own retirements through savings and have invested in mutual funds (collections of stocks) over the years are seeing their balances plummet. They're looking at having to work many, many more years than they previously thought to be able to retire.
Hopefully the market will come back in the near future, but be sure to cut a friend, parent, grandparent, or whatever a bit of slack if that person is frustrated and irritable. It's very difficult to see one's nest egg go down so much. It can make a person feel like all that hard work didn't really count for much. That's untrue of course, hard work is valuable no matter what, but such feelings are only natural in a time of such stress.