Discussion in 'Economics' started by wilburbear, Aug 22, 2010.
This thread could have been titled "Americans tap 401k's to chase the American Dream"... they are paying for education and buying houses it says...
September is the weakest month in the stock market anyway.
Now we've got the public cashing out stocks for non-discretionary items.
Dow down 69.
Sadly, this is a trend that will continue imo...
i guess this is what happens when people can't learn to live within their means.
just dripping with self-righteousness are we? I know a guy that talks like that all the time, he has his money in a mattress and never bought a house in his life... his hopes hinge on rent control and bargains, LOL...
My 1M+ Clients aren't pulling anything more than their usual income. I'll note that many are buying alternatives such as physical gold/silver, and some distressed real estate.
On the other side of the coin, I have some Clients who are friends, family member, etc., referrals of my 1M+ Clients. I took many in who had about 50m, and in the last year, they're pulling more, and more out of their accounts to pay bills.
I thought it would be a broad statement when I was telling my Wife about this recently, so I decided to compare the #'s of Clients wanting large distributions vs. the usual income Clients. Looks like 76% of the people I have with 50m or less are the one's having to rob Peter to pay Paul. It's sad. I hate to see it.
Sign of the hard times...
nope, just saying that taking responsibility and living within your means goes a long way and it shouldnt be the minority
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