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Karen Duvall
11-14-2008, 02:17 AM
I finally got my graphic design career to the point I can run my own business out of my home, make as good an income as when I used to work for someone else, and work fewer hours at the same time. This has been my goal for many years because finding time to write had always been a challenge. Now I can write and make a living wage with my design business without spending so many hours doing it.

Or I should say I could... :rant:

Damn this freaking failing economy! My husband and I have been building our savings so we could retire someday, but half of it's been lost in just the past few months to the crappy market. Half. No kidding. And that includes the money I inherited after my mother died two years ago. Now my husband is pressuring me to take on more work to get our income up so I can replenish the savings we lost. I have an agent now, I have a manuscript making the rounds to big publishers, I have a new novel more than a quarter of the way finished. There are only so many hours in the day to get it all done!

I'm furious right now. I'm mainly angry because the money we lost is lining someone else's pockets. The greed of this country knows no bounds.

Okay, just had to vent. Struggle and succeed only to fail through no fault of my own. I'm just sick about it...

ajkjd01
11-14-2008, 05:29 PM
Yeah, I'm right there with you. I watched my retirement account lose big money. And yeah, I've got a lot of years left to retirement (I'm 32), but it's still frustrating to watch that number get smaller and smaller.

But just a reminder to everyone not to stop contributing to their retirement. Your dollars will buy more now with stock prices down than they would have a year ago, and you'll reap that benefit more later.

Maryn
11-14-2008, 05:32 PM
We're pretty damned close to retirement, and lost about 40% of our retirement savings' value. Mr. Maryn now needs to work at least five more years than he'd planned to--and yesterday his employer announced massive export of jobs to India and the Philippines, so it's not certain he can.

Maryn, making plans to be a simple peasant woman

Karen Duvall
11-14-2008, 08:34 PM
Ugh, it's tough all over, isn't it? I certainly feel for you folks, too. I just feel so... vulnerable. It's tempting to just take what's left and bury it in the back yard. Ha! I know better. We're in our fifties and had hoped to quit working before we're 65, but so much for that pipe dream. Sigh. :Shrug: Thanks for chiming in. It helps to know I'm not alone.

Maryn
11-14-2008, 08:43 PM
We've been telling our kids they may have to reimburse us for all that college.

Like they had any money, huh?

Maryn, okay for the present

Karen Duvall
11-14-2008, 08:53 PM
You know, there's a thread of truth to what you say. Your kids may be called on to help you and your husband in the future. We helped my mom, and are now helping my husband's mother (though his older sister is pretty much responsibly for draining the poor woman dry). So kids can and do pay back in one way or the other, I think. They may not have money now, but who knows what the future holds?

K1P1
11-14-2008, 09:49 PM
I'm mainly angry because the money we lost is lining someone else's pockets. The greed of this country knows no bounds.

If your money was invested in stocks, then their market value went down without it going into anyone's pocket and, assuming you don't sell now, when/if the value goes back up, it's yours again. The stock market is cyclical, so overall, market values will go back up. Stock prices only go down because people in a position to purchase stock think they should be valued lower.

Increasing stock values are not a promise, but they are a trend we can expect, although it will take a long time. The best thing to do is not to panic and to let the government (including the president-elect and your congressional representatives) know that they need to be making sure the dollar is strong on world markets. Doing that will increase trust in our economy domestically and internationally, which will help prevent the sort of economic panic that got us into this mess.

Fingers
11-14-2008, 10:59 PM
I just got my 401k statement. Its now down to under 2k. Im out of work and looking for work in a new field with no experience. 53 now. retiring when I die.


yer very tired pal Brian