Within the next few weeks average Americans are going to be receiving their quarterly 401k statements in the mail. Most people are oblivious to the daily gyrations of the stock market and they don’t even know the percentage of their retirement savings is invested in stocks. They will get an eye opener when they see the 14% decline in their retirement wealth in just 3 months.
bluestem says:
Hope it’s just 14%.John
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3rd October 2011 at 10:07 am
George says:
Got gold?
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3rd October 2011 at 10:15 am
AWD says:
Maybe they’ll get angry enough to protest.
Or, they’ll head to the nearest buffet and eat their troubles away.
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3rd October 2011 at 12:28 pm
DavosSherman says:
After riding the China/Emerging market wave we closed these POS paper accounts out. We took quite a massive tax hit over several years spreading it out to keep AGI’s as low as possible.
No fucking regrets, glad we got out. Losing a few bucks in taxes was better than losing it all.
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3rd October 2011 at 12:38 pm
KaD says:
They’ll feel alot worse when they see their statement at a 90% loss two years from now.
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3rd October 2011 at 1:11 pm
SSS says:
1. Preferred stocks in utilities, paying 6-7% interest.
2. Gold and silver.
3. Cash.
The end.
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3rd October 2011 at 5:35 pm
Buckhed says:
Called my broker Friday….he told me to bet it all on Happy Jack in the 5th race !
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3rd October 2011 at 10:12 pm