They finally realized fixed income returns won't rise enough during their lifetimes, so they have no chance to retire (or stay retired) unless they get into stocks. They all seemed prepared for the possibility they will be crushed but they have decided to take a flier on the possibility that stocks can keep going up and maybe buy them a couple years retirement.
Sad thing is if rates were a normal 4 or 5% these folks would all be OK. Seems really unfair to have changed the rules of the game on them so late in their lives.
I talked to some old women today and they said that we'll have a tough winter this year. I'm going to buy extra long john's. Do you always go around holding meetings with old people and sticking your nose into their finances? Was this a group of millions?
CD rates haven't been 5% for over a decade. Even old people know that the stock market historically has provided more than that per year. Maybe some still remember the 1930's and are reluctant to jump into the market, but it really is their best bet even if they're stuck with a broker who charges a couple percent.
Forced into drinking the poisoned water cause that's all there is. Die of thirst or poison. They'd last longer with thirst. It's a betrayal of everything they lived and maybe even thought they were fighting for. WS has absolutely zero problem with leaving them destitute and letting the gov pick up the tab for minimum life support. That's why Obama should have made that impossible this time around. If the country went down, so be it, but so would WS, hard. WS is making out like bandits either way. They really are traitors to their country, and yet so many Americans actually revere these evil traitors. Regular Americans too. I don't get it. These guys are terrorists, they make ISIS look tame when you pull back. The odds of an American being hurt by ISIS is almost zero, and they are like the plague, eventually they will die of their own disease, sot soon enough. But WS, what they do is legal with the right lawyer in place, and they destroy livelihoods and entire families. How many kids won't go to college because of 2008 crash? How many breadwinners, especially men, were devastated, financially and spiritually, forever. How many turned suicide. How many to drink, domestic violence, how many broken marriages. The costs were incalculable and yet these animals climb into their limousines every day and do the same things.
after their land values shot thru the roof?
along with being recipients of utterly obscene wealth transfer?
have any idea what all that has done to younger generations?
highest rents vs income,
highest home values vs income.
100's of billions outright robbed every year from the young,
seniors have by far the highest net worth of anyone and you offer your fantasy sob story?
For all I know these folks were almost as much a net loss to society as you are. Doesn't change the reality, people have to buy overvalued securities to have any chance to retire. I wouldn't wish working at Walmart until death on anyone besides you.
Not true...if rates were 5% the economy would be in depression. There is no free money because of interest..it is a zero sum game. They have used low rates to amp up leverage which explains stocks. Your premise if flawed in a money as debt system
It's a crazy game- everyone trying to squeeze out that couple more years of gains to finance a few years of retirement and praying they're not in for the next crash. Yellen Roulette at its finest.