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Originally Posted by Phanuthier
I didn't say life is over. God damn it you really suck at this reading thing. Seriously. I don't know if its reading or memory. Maybe you should look back..... what you insinuate is Gen X got hit the hardest because you lost all your money in the stock market (might agree, but if you decided to play the stock market, you should know the market is cyclical - and with the Dow at 15,445 as of today - higher then 2007, you got all your money back and more...... if you sold, well..... why the hell are you playing the stock market if you don't understand what you are doing?)......
BUT..... you make the comment the only challenge faced by Gen Y is iPhones and cars...... that is not true, many Gen Y's were hit hard by the economy as well. My point is you are too myopic and misinformed to know that..... sad that you choose to stubborn to stay in your realm.... probably just so you can sit and sulk in your corner about how hard your life is.
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As a baby boomer I lost more than half of my retirement savings in 2008. It was well diversified to cover an regional market woes, however it didn't help that we had a world wide recession. I didn't panic and left my money where it was. Today I have gained back all that I had lost and much much more. Others older than me didn't have time.
Many like myself were "forced" into the market due to interest rates that were paying squat. We had no choice but to play the market if we had any hope of a retirement. Thankfully I have someone good managing my funds. For sure it's a gamble, but not many expected a world wide recession.