You must not have elderly relatives who are now wondering if they're going to be spending their "Golden Years" eating cat food.
Guess they’re moving in with you.
Just how many of these seasoned citizens voted for that guy w/o a birth certificate? Let them eat cake.
I’m not elderly, yet, but I’ve pretty much given up on much of a “retirement.” I imagine that a lot of us who had tried to set money aside for the future will have to get creative in our old age in order to survive. Right now, as I ponder just how much the dollar will be worth in 2-3 years, I’m seriously thinking of cashing out what I do have invested for retirement and using it NOW rather than wait until it’s worth a small percentage of it’s current value. These are scary and very uncertain times.
Well, I have parents. One due to retire this year so I have a stake in the market’s health. None of this was his fault.
But the voters screwed up, and I mean back in the primaries. McCain and Obama wre disastrous. One more then the other but both weak. And Republicans made it worse by beraying everything they had stood for so voters saw no difference. My dad? He did everything right. Worked hard, asked for nothing, voted for the right people but too many didn’t and brought this mess down on all of us.
I don’t celebrate how this impacts him or my mother. I do celebrate the pain of those who are responsible though. And I don’t blame investors for running with what the Democrats are proposing. Maybe had the majority of politicians and voters taken their duty seriously their 401k’s would be fatter today.
Hoping isn't going to make it any better.
Hopefully, like my parents retirement accounts, after a certain age, they switch to cash and low risk, low yield bonds. Most financial planners worth their salt would do that. I do have sympathy for your grandparents however as some of these financial gurus have probably told them to keep their money in the stock market. I don’t have a good answer for that.