(no subject)

[ksmith]

I realize that compared to many folks, I have no problems. I have a good job...for now, at least. I can pay my bills and save for retirement.

But boy, I can't wait to see the hit the old 401(k) takes tomorrow when the fallout from Lehmann Bros hits the financial fan.

As late as six months ago, I was seriously considering retiring from the day job. I would still have had to work, but was hoping that the writing income would bridge the gap.

Not gonna happen.

Comments

[sci-o-biscuits.livejournal.com]

I try not to think about the 401K. The situation is extremely worrisome.

The way things work in this country is that the govt forces us to put all of our savings into weird investment tools and retirement plans - else, they tax us to death and steal everything we have.

Let me try to puzzle through the logic:

With all of our savings in 401Ks/etc, as long as we're less than 85 years old, we're always broke.

And now, with the financial institutions collapsing, we're probably all going to be broke tomorrow.

Wait a minute! I was broke yesterday, and I'll be broke tomorrow, just for different reasons.

It's as if we never saved anything at all!

[kristine-smith.livejournal.com]

I just hope that, as has happened so far, things eventually recover.