General Discussion
In reply to the discussion: I Lost $7,000 Today and Trump is Gloating About It [View all]Fritz Walter
(4,291 posts)A 3.6% drop today in index-linked investments is significant for those who have defined-benefit -- AKA 401(K) -- or IRA accounts, which have been shamelessly hawked to USA's middle-class, working stiffs, including yours truly.
Another maxim that has been shoveled into our faces is that retirees should plan on withdrawing no more than 2% a year of these investments. Therefore, a 3.6% drop essentially wipes out ~20 months' worth of income. All because some Limey bastards decided they didn't like the skin color of refugees washing up on their shores.
So, where do we make up this loss?
Lotto tickets?
Collecting aluminum and other metals for recycling?
Selling plasma?
Moving into "grandma" suites into their kids' over-mortgaged McMansions?
Not. Bloody. Likely!
Fuck not-so-Great Britain and her low-information voters -- who are just now Googling "EU" ex post facto. It's about dog-damned time the sun set on this empire.