NotHardUp1
What? Me? Really?
Not sure that is true.Except for most people who own stock those market losses are devastating.
Thanks to Trump I now have two years worth less for retirement.
In order to know, we'd have to have data on the relation between the average losses of the decline in relation to the average wealth of the stock owner. It certainly cannot be derived by simple division like the administration is using to take net trading deficits and dividing by imports.
If my market investiment represents one times my annual income, or ten times, or 1/100th, then all those ratios are important in underestanding whether they are "devastating" or not in any lifestyle sense.
If it's a millionaire who had $2M or $10M invested, then their lifestyle is likely unchanged, or if it is, only to the degree they own excess wealth.
If it's someone with only $200k invested and owns no real property and is retiring soon, then yes, real devastation at a large drop IF the market stays down.
But, we're not allowed to spin straw from gold. If we don't have data, imputing it as reality isn't good enough. We talk all the time about the 1% owning disproportionate wealth. That inherently means they have disproportionate investments.


































