September 17th, 2008
Digesting It All…
From the comments at Fark.Com…
Breunthor: so, what does this mean for me personally? I suck with big picture scenarios
Have you heard about the Hadron collider that could tear a hole in reality and end the world? Like that, except in your 401k. That’s the way it’s been explained to me.
September 18th, 2008 at 1:49 pm
http://www.degriefer.com/src/1221507833876.jpg
Well…..you gotta take it to the gutter sometime!
Thank God I don’t own anything! This way I can be financially worthless without the big disappointment!
I can sit back and giggle and smirk smugly at all of the Wall Street yuppies who are losing their asses.
Except I can’t help but to believe that this is all a set up for BushCo to keep HIS and his BUDDIES scams running far after he leaves office.
September 18th, 2008 at 3:04 pm
I own a few things but I came from pretty much the same situation not all that long ago. I’ve always doubted I’d have much to retire on and figured I’d probably have to work well past the point most other people with real jobs did. I’d really hate to loose most of what I have now, especially the house, but it wouldn’t necessarily devastate me either because I lived a low budget life for most of my life and I know I can get by somehow. Also, and this is a big also, I don’t have any family to support.
My ex down in Hilton Head lost his job a couple months ago, and he says the sudden drop in household income been creating some stress in the relationship. Personally, if I was supporting a spouse or a boyfriend at the moment I’d be horribly stressed out now, but hopefully not at him. Same couples should live within the means of one, not both, even if you have two incomes coming into the household, just in case.
Job security vanished with our parent’s generation. That’s the other thing keeping me from stressing out too much over all this. I’ve lived with knowing my job isn’t secure, let alone my retirement, all my working life. It’s not that different from growing up during the cold war, and knowing the mushroom clouds could start happening at any moment.
Right now I’m just trying to pay down the debt I have on the table, other then the house and the car, which isn’t huge I just want to get rid of it. If I get that off the books, I can take a fifty percent cut in my income and still pay the mortgage and the car. More then that and I’d have to sell the car. The house would be the last thing to go because I got it before the housing bubble tripled the price of homes and so my mortgage is actually less now then rent would be.