Bye Bye Retirement
Monday, September 29th, 2008Today was a historical day in America. The stock market dropped over 777 points — the largest drop in history. Because Congress couldn’t pass a $700 billion rescue package, Americans like me lost more than twice that. I’m sure that over the next 24 hours, the markets around the globe will follow suit. Of course, all of my retirement savings are in the stock market along with a little bit of savings.
I’m not sure that Congress should tackle another rescue package at this point. I would like to see the market stay low for a while so that I can accumulate more shares at this nice discount before a rally occurs.
The way I see it, we have two choices. We can let the markets correct themselves and probably ruin the retirement for the baby boomer generations. Or we can patch the problem with a rescue bill, and let my generation pay for it later.
I’m just happy to have 35 more years before I turn 65.




































