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> Tell all of my friends whose retirement funds dropped significantly as a result of this that they were fine. Were they retired at the time? I’m going to ass
by quickthrowman 3y ago
> Tell all of my friends whose retirement funds dropped significantly as a result of this that they were fine.
Were they retired at the time?
I’m going to assume they were working. If stocks drop 40% and you still have a job and can contribute to your retirement and personal investment accounts, a 40% drop in stocks is a sale on stocks, not a bad thing. How are their retirement funds doing now that the S&P 500 is at ~4300 in 2023 instead of ~6xx in 2008? That’s a 7x increase from the bottom in 15 years.
Assuming they didn’t do something stupid like panic sell at the bottom and buy back in years later, they’re doing just fine now.
- phone8675309 3y agoThey were a year or two out from retiring and had to extend their time in the workforce through no fault of their own, yet nobody at the top who is responsible for both the theft of their money and years of their life was ever prosecuted for securities fraud or any other such thing. If I stole $50 from the till at the corner gas station, I'd be arrested and prosecuted. If someone steals $50 million and their company gets bailed out by the government because they're exempt from the laws of capitalism (private profits, socialized losses) they get a golden parachute and a pat on the back.