Quote:
Originally Posted by Nebe
I know you guys know this but you only truly loose it if you sell. It’s best to sit tight and add to it to average down as it goes down. It will come back. It always does.
Posted from my iPhone/Mobile device
|
Sure it “always” does, but that doesn’t help someone already retired or within 15 years of retirement. Especially if you’re in your mid-fifties or older who hopefully has been shifting equities to bonds or cash.
But, and this is a huge but, I’m concerned the old system simply doesn’t work under what could be new rules. Where will bond rates go if the dollar tanks? Will US corporations flee if they don’t believe they can trust the US legal system to protect their intellectual property, or outspend their competitors with a corrupt pay for play Whitehouse?
The looming cuts to Medicaid are going to drive everybody's insurance rates up, and the tax cuts mostly targeting the top 1% will further suck wealth from middle and upper middle class taxpayers who fund a much larger % of SS per dollar they earn.
The stupidity and recklessness of all this is mind bending. Under no circumstances do you try and manipulate so many variables in a system at one time. It’s why your doctors rarely change multiple medications at once. It’s why manufacturers wait until greenfield product launches to significantly redesign go to market strategies.
That this is being rammed down our throats by a leader who didn’t even get 50% of the vote, who is circumventing the US Constitution at every turn and who is working undermine or outright destroy the institutions that make America exceptional, an unbiased legal system, a free press, separate but equal branches of government and on and on should scare the hell out of anyone who isn’t already a multi-millionaire.