I would have posted this for Halloween, if i’d had the time as there are scary things lurking about.
ONE. The prospect of rioting or terroristic activity following the election outcome, or worse, an unclear presidential election outcome that causes the process to drag on even longer. I don’t need to explain why that is scary. Stay safe people.
I am SO OVER this election!!! I cannot wait for it to be over. Please make it stop! Calgon take me away!
Sigh. Did I mention that I want this election cycle to end already?
TWO. The prospect of an election day/post-election stock market freak out. Let’s hope that US and global markets stay relatively calm over the next few weeks, and those of us with meager investments don’t suffer any massive losses.
THREE. The prospect of low stock market returns for the next 10-20 years.
The party of sky high double digit returns is over, some reports say. Welcome to the hangover. According to some market analysts and other financial prognosticators, the US market will likely take it’s aspirin in the form of returns between 4-6% (not counting inflation, broker fees, etc.). After everything is taken out, we might be left with 2%-4% of actual gain. What?!
Crap! Thanks to my stupid debt, and/or financial cluelessness over the past 7 years, I missed almost ALL of that golden bull market gain. Now that I finally have the ability to start saving something for retirement, I’m learning that those big gains might not be back until I’m in my 60’s!? This is terrifying.
How many people have been using 7% estimated returns for their retirement calculations?! So much for early retirement. So much for retirement period! It’s all speculation of course and no one can predict the future, but if it is true… Eeek! Scary!
A Good Thing!
On a positive note, I stumbled across a blog called Struggling to Be Debt Free. It is written by single, thirty-something, woman lawyer in northern Florida. She has paid off over $100,000 of debt, including student loan and credit card debt, all while putting up with co-workers that put ZJ’s sleeping colleague to shame. (At least the sleeping colleague manages to show up to the office.) I’ve read through the entire blog and was happy for her when she paid off her last student loan early this year. While she still has a mortgage, she is in saving and wealth building mode now. Go over and follow her story.
“Debtor’s prison is real, and opportunity cost is a bitch.” (DDSW) [All posts on one page]