I noticed a slight drop in my 401 account but I'm not really too concerned: I still have thirty plus years left to be working and saving for retirement. And I don't own a home or have a kid to think about.
But I do feel bad for senior citizens, since they're watching their retirement funds just dwindle away. My (retired) grandparents lost a lot of money thus far and I know D said his parents have, too. Wait, did I just call D's parents senior citizens? Huh?
At work and at homepixidalaOctober 10 2008, 18:20:10 UTC
My parents are, hugely. My dad's entire pension is invested through company stock, which has really be hit hard. And our center's secretary is absolutely livid about what's happened to her retirement accounts - she's lost something like 2 years progress. Both of them are grateful that they're not retiring tomorrow, but still... very stressful.
We're also being hit pretty hard on the grantmaking front here at work: we've had two agencies send out shut-down notices, and we were hoping for some serious bank from both (one was the philanthropic unit of a hedge fund, the other based on investments through AIG). And all of the top donors have been untouchables since the DOW drop, especially since most of them are retirees. We can't even rely on the internationals, since this has been hitting markets all over the world.
The effect has been huge in my little world, that's for sure.
I have some money in an ING account. I've noticed my interest rate went down from almost 4% to just over 2%. I would be furious if my retirement money were dwindling!
I also heard on the news last night about rental tennants in Chicago being evicted from their apartments because their landlords weren't paying mortgages. That's shitty! Even though they were paying their rent on time?!
On a brighter note we went to Valanni last week and thought of you.
Yeah the company I work for was doing a really generous profit-sharing move for the first time last year and made a substantial investment for all of us at the agency. Which is now just being siphoned.. ugh.
Not exactly... I have a 401k in a money market account, which hasn't been hit too badly. I did have it in a mutual fund up until about a year ago, but took it out when I thought it had "peaked." It hadn't... it continued to rise for a while after that, so I was kind of pissed at myself. But not anymore.
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But I do feel bad for senior citizens, since they're watching their retirement funds just dwindle away. My (retired) grandparents lost a lot of money thus far and I know D said his parents have, too. Wait, did I just call D's parents senior citizens? Huh?
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damn, we're getting old.
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We're also being hit pretty hard on the grantmaking front here at work: we've had two agencies send out shut-down notices, and we were hoping for some serious bank from both (one was the philanthropic unit of a hedge fund, the other based on investments through AIG). And all of the top donors have been untouchables since the DOW drop, especially since most of them are retirees. We can't even rely on the internationals, since this has been hitting markets all over the world.
The effect has been huge in my little world, that's for sure.
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I also heard on the news last night about rental tennants in Chicago being evicted from their apartments because their landlords weren't paying mortgages. That's shitty! Even though they were paying their rent on time?!
On a brighter note we went to Valanni last week and thought of you.
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