It doesn't sound like you, Steve, but I agree completely. You either have to assume that this is a temporary retrenchment like we've seen 4 or 5 times over the last 30 years, or that the entire financial model has broken down, in which case it would take several decades of mass confusion before another model took its place. If it's the latter, we all have much more serious problems than worrying about saving for retirement. Without a lot more calamity, I strongly believe it's the former.
Shamelle - TheEnhanceLife
· 1 year ago
Love the way you managed to make a link between the two.
plonkee
· 1 year ago
I'm thinking that pretty much the worse that is likely to happen is that money invested in 2006 (say) won't see a +ve return for 20 years. Money invested earlier and later will probably not do too badly. I've got 40 years until retirement, and my parents have final salary pensions anyway, so I'm not too worried about that.
Rampant inflation or deflation would be more of a concern, but people got through the 1970s, right?
Writer's Coin
· 1 year ago
I think everyone agrees with you, even up to that last line. And that's where people's problems lie.
"If you were happy with what you were doing..." Now people see the market tanking and feel like they did something wrong, didn't pick the right funds or stocks, etc. So they have to do something else. When all they should really do is stick their head in the sand.
Lacey
· 1 year ago
This was a great post! There is so much turbulence in the market today, and people need peace of mind more than ever. I wanted to offer your readers a link to another blogger who is doing great work. He writes about our 'childhood money messages' and how the best approach to stability in today's market is to resist letting these emotions control our buying/selling habits. It is really fascinating work, and something you should all check out. His name is Spencer Sherman, and you can view his blog at http://www.curemoneymadness.com/blog.
All Comments
Rampant inflation or deflation would be more of a concern, but people got through the 1970s, right?
"If you were happy with what you were doing..." Now people see the market tanking and feel like they did something wrong, didn't pick the right funds or stocks, etc. So they have to do something else. When all they should really do is stick their head in the sand.