$2 Trillion Dollars Loss In Retirement Funds
Believe it or not, I am an optimist. I just cannot find anything optimistic to say about the stock market right now except, Thank God for Dollar Cost Averaging. In the last 15 months, we have managed to take the country further down the toilet than ever before. I say we, because we all must suffer some blame in this game. We voted these meat-heads into office, and we allowed them to create laws on our behalf and run our country. We also allowed them to put our country's future at risk by allowing Wall Street to run amok. Now we are beginning to pay the piper for being lazy. Our 401K plans have been on Nutri-System lately, and now they look like 201K plans.
How did this happen? This is the question that everyone is asking as they read their 401K statements. They should be asking: Who is going to jail over this? Why hasn't anyone been indicted yet? Where are the heads of these huge investment banks? Where are the investment advisors who put their clients best interest before their own?
Now, approximately $2,000,000,000,000.00 has evaporated from the market and from American's retirement savings. There is no other way to say it: This is very bad. How do you trust this market? How do you trust the advisors who are saying buy on the way down? I don't trust anyone involved with this market right now. Financial planners are telling their clients to keep putting money into the market and 401K. That may be sound advice. However, with the Federal Government printing cash faster than ever, Americans may need that cash in the future.
There is no way to make an educated decision at this point in time. Please be careful out there.
This post was submitted by Carmen Dellutri, Esq., founder of The Dellutri Law Group, P.A. Currently, the firm has offices in Port Charlotte, Fort Myers, and Naples and has expansion plans for Sarasota. Mr. Dellutri also sits on the Board of American Board of Certification. Mr. Dellutri is also one of the founders of the Bankruptcy Law Network, Debt Law Network, Credit Law Network, and Mortgage Law Network. Mr. Dellutri also writes for the firm's personal injury litigation blog.
