Quote:
Originally posted by Adder
Well, those folks had a few different choices. They could put off there retirement for a year or two - unfortunate but hardly a tragedy. Or they could risk it and retire, hoping that their nest egg will grow sufficiently to cover their needs.
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Sure, and they could hope the market would bounce back in a year. And if it didn't, well, they would always have social security to fall ba..... oh, wait a second....
And, of course, if they were 75 years old and already retired, well, they could just go back to work.
Do you really believe that the most vulnerable in our society -- the people who did not have the skills or capacity to build private savings -- are going to make consistently wise investment decisions? Or do you just have faith in the magic of the market, and believe that the average gain over the past 40 years equals the minimum gain that anyone can expdct in the next 40 years?
