General Question

basp's avatar

Does anyone understand this bailout thing?

Asked by basp (4811points) September 28th, 2008 from iPhone

I’ve been listening to the news and hearing all sorts of stuff but what I really want to know is how is this all going to affect me?

Is my retirement savings safe? Can anyone explain this all to me in simple terms?

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2 Answers

aanuszek1's avatar

Nothing is safe in today’s world

fireside's avatar

To know if your retirement is safe, you need to find out what kind of investment portfolio you have. If it is diversified you may be fine. There should be an adviser at the company where your retirement account is administered, check with them about your specific investments. Another factor is how long it will be before you retire.

The market average right now is at the same place it was about 3 years ago, before the housing bubble, and close to three times higher than 15 years ago.

Nobody knows how it will play out in the long run…

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