Another Stimulus payment.. What do you think?

[JRScott]

You could argue that this problem is caused by not learning from the past.

Both the failures of the 1870s and 1930s were caused by similar elements. The simple truth is you have to really live below your means in order to build wealth. You can't gamble on a 'sure thing' such as your house always increasing in value or the stock market going up.

I had two great aunts, both of whom had jobs that were not well paying. Both left sizeable sums to my grandmother. They knew what it meant to live below their means. They made sure they had enough money to take care of their current needs and they saved for their future needs. I had a talk with grandma the other day about the economy and I pointed to her two sweet sisters who have passed away, and then I pointed out that my mother's generation had not saved as well, they had overspent and so to had my generation. That's the problem, we began to think we were entitled to things we should not have. We gambled, and as we are seeing right now those that have have lost.

In 1929 the Dow Jones lost 89% of its value losing gains for 36 years. It did rebuild after the collapse though it took 22 years to regain that.

[justbroke]

Well said. I wish that I was among the generation of "savers". But alas, even my 401(k) didn't really work out.

[banca rotta]

Well said. I wish that I was among the generation of "savers". But alas, even my 401(k) didn't really work out.

I also refer to the 401k as "savings" but it really is investing.

Mark my words, everyone with 20 years or more to go before for retirement will be ok so long as you keep contributing to your retirement plan.

For those of you either near or in retirement. I'm sorry about what you are going through. I really can't say much more.

The stock market winners are usually the long term investor, the lucky investor and of course the cheater. These 3 sum up who wins with the markets. It's difficult for an ordinary investor to win at this game in the short term.