"I don't think it (the stock market falling) will affect most of America" ~ Senator Richard Shelby R-Alabama in an interview with NPR where he shared his opposition to the bailout proposal.
Contrary to Senator Shelby's statement, just about
everyone I know has been affected by the stock market decline of 2008. From what I've seen, the impact also cuts
across generations. Here's how it has affected those in my family:
While I agree with Senator Shelby that the stock market decline is
not a good reason for a bailout, I do believe that the current financial crisis could
destroy the U.S. economy. I hope Congress realizes soon that they have to
act quickly to hopefully contain the damage and restore confidence in U.S. credit markets.
For more on Crossing Generations, check back every Thursday for a new segment.
This is not financial advice. Please consult a professional advisor.
Copyright © 2008 Achievement Catalyst, LLC
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2 comments:
Super: I am curious as to how you are "reacting" (if at all you are) to what's happening. Especially considering that this directly affects you a whole lot more than most people given that you voluntarily retired last year.
Does your family ask you questions about how you have planned to get through such times, etc.?
Hope things are cool on your end with all this going on.
Golbguru,
In July, 2008, I did start considering Plan B options of going back to work (URL: http://my-wealth-builder.blogspot.com/2008/07/plan-b-undoing-early-retirement.html). Since then, my company stock has recovered signficantly and I've put Plan B on hold. However, returning to work always remains an option should the market or my company stock price deteriorate further.
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