Quote:
Originally Posted by Moejoe
Interesting approach, I suppose, but I've never owned stocks or made any kind of investment for profit in my life. Maybe it's that whole 'pessimism' again coming through? I don't know, but I can't say I've ever thought of this current crisis as anything but a terrible event.
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Well, if you are young, you'd be surprised what a small fraction of you income can make you independent of government funding come retirement. If you make relatively conservative investment choices and start at age 30, you can retire with
no loss of income by investing only 7% of gross each year! And this only assumes investments that run slightly behind market averages over your career. (And isn't it fascinating that Uncle Sam is using 15% of my gross income to do waaaay worse than that!)
You may wish to consider investing for your retirement -- it makes worries about the bozos in Washington/London/Paris/Wherever much less urgent-seeming. And given the recent sell-of in the world's markets, you'd be hard-pressed to find a better time to start.
Since I rate the likelihood of my collecting any meaningful amount of money from Social Security somewhere around the likelihood of a flying saucer landing on the Whitehouse lawn, investing for my retirement sure looks like a prudent choice to me! Your mileage may vary, of course.
This current crisis is a terrible event. But it's not yet anywhere near the magnitude of the Great Depression. We have yet to see just how bad it will get (or did get, depending).
Xenophon