Quote:
Originally Posted by ShaniFaye
I was the same way until yesterday lol I finally called Vanguard to find out how to login online to see my account...I have to say it wasnt nearly as bad as I thought it was going to be....I'd lost 1700 dollars since the last quarterly statement (June).
As I said in the other thread, Im not in a panic....I still have time and Im sure in the next 22 years it will rebound lol
Its my parents Im worried about
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I kind of agree and disagree about worrying for our parents.
First, if they had invested 25 years ago when the market was real low anything they have now is pure profit.
Unless, they borrowed on the profit as it came. That is what a lot of people did. They saw the market they invested in increase so their paper value increased so they mortgaged that profit into credit. As long as the profit out runs the credit you are fine.
But if you get caught mortgaging profit as the profit decreases, and your credit tightens it leads us to where we as a country are.
The Boomers don't have much to worry about, they are in power, won't hand it over easily and have always made sure they have theirs ..... even if it meant destroying the future generations.
My fear is for my son's generation and his childrens generation. in the end they will be the ones faced with all the debt from the baby boomers and perhaps us 1 or 2 generations removed.