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The oldest Baby Boomers were starting to retire by then. There are lots of variables, but if you're drawing down your retirement funds and the stock market is
by saalweachter 6y ago
The oldest Baby Boomers were starting to retire by then. There are lots of variables, but if you're drawing down your retirement funds and the stock market is down significantly for a long period of time you may end up either having several lean years or drawing down faster while the market is down.
- lotsofpulp 6y agoIt was down for 3 or 4 years. If that handicapped your retirement, then you didn’t have enough to begin with.
- mulmen 6y agoHow could you know that in 2008?
- lotsofpulp 6y agoI don’t understand the question? The original claim was people took a bath on their retirement savings. Which is only true if they sold all their retirement assets. Therefore, I don’t think it’s accurate to say the 2008 recession caused people to lose their retirement savings. Selling at the bottom of a market would cause one to lose their retirement savings.
- ajmurmann 6y agoThey didn't know it was the bottom. It could have been the new normal. However, to me that would imply retiring 4 years later and not 10. One they market turned around retirement was back...