I sold a little motorcycle just recently. Thinking about putting the money into to our IRA's as, like was said, everything is on sale. Still doing monthly contributions to the wife's tax sheltered annuity.
Talked with Pop today he was 8 years old in 1929. 16 people lived in one small house on $100 a month income.
Yup, we got it made.
My dad grew up on a farm in the Depression and through the war. No electricity there until after he came home from the Korean War. Biden's comments about FDR on TV about the crash...LOL!...made me think about how my dad and his parents wouldn't have had a radio hooked up to electricity to listen to the radio. He's gone now, so I can't ask. But there never was anything more than "outdoor plumming" there either.
With a cell phone, WiFi internet, DVD's, and over 100 channels to choose from, things should never be considered bad.
Umm.. my choice wasn't available... you know, the one with the guy doing the "alright!" fist-making elbow drop?
Seriously, anyone who didn't see this coming was living in a dream land. Nothing can grow forever. If I were smart enough to write that into a law, I would. Unfortunately, I do not possess the mental prowess of people like Newton and such.
Get ready for the ride. The models that the overpaid fat white men made are turning out to be garbage. Whether you believed these over-"educated" idiots and bought into the whole stock market lie or not, we are all going to go down the ****ter together. Welcome to reality.
I'm feeling particularly blessed right now. Our 401k is being moved from one provider to another, and as a part of the process got moved into a money market fund right before the big drop, and will be there for a few more days before being put back into the various fund offerings. So all in all, it looks like I may actually come out ahead.
One other thing to note... Fund managers are paid to buy & sell stock. If a manager thought the market was going to tank and sell to try to maintain his fund he would not have a job for long. If they sell a stock they pretty much have to buy something else to replace it.