I’m resigned to seeing a 9,000 Dow. I hope to God it stops there. I retire in four months.
pay off all your bills,
stock up on non-perishables.
and ammo
Go to cash if you think that.
I hope you have taken the steps to move any retirement funds into some save havens.
My brother’s father in law thought he was a stock market genius before he retired. He was playing the market with ALL of his retirement funds in 2008. He went broke. Like, really broke.
It makes me sad to hear people talk about this stuff and how it is going to impact their retirement.
Good luck to you.
I hear you. I retire in 2 years and my retirement accounts lost more than two years worth of gains in just the last couple of months. I moved one account out of stocks and into bonds and that slowed the decline. I’m thinking about diversifying by reinvesting in Powerball and scratchers. ;o)
I remember having this convo with my broker in early 2008. I thought I was over shooting when i said the Dow would drop from 18300 to 9900. It went to 6600.
The problem is not knowing how much bad debt us going to unwind. Especially sovereign debt.
Best wishes in your retirement. That will leave you more time to post and to write more books.