Lost everything in 2008? Stocks went down 65%. Money left over had to be for underwater investments.
It’s choices. Unfortunately too many out there do not have the skills or discipline to do the right thing. I say a $1k ‘gift’ into the s&p 500 for every newborn. Absolutely no withdrawals until age 59. That will expose their choices.
Social Security was a way to COMPEL Americans to save for retirement. It ain’t working. Meant only as an income supplement. Those that never needed it get penalized. Millennials have a chance to do it over but they won’t. The frog is boiled. Bummer. They are all under age 35. Plenty of time for them.
That’s one thing. Then there are legal battles whose outcome is suddenly turned from positive to negative, and a whole segment of the economy is destroyed.