posted by geeblock
the bottom 90 percent of the people who own stocks own probably 7 percent of the stock market. the top 1 percent own over 50-60 percent of the stock market. ( rough estimate i havent looked at this in years) so lets stop acting like the stock market is the economy. you arent getting rich or poor off of the stock market as a teacher im sure. I predict the stock market will be better with more stability at the top.
You do realize that most people’s retirements are in the stock market right?
I mean I haven’t touched my 401k in years and 20 years from now it will have a couple million in it and I am not part of the top 10%.
If the market takes a big hit it would be a huge drop in my retirement savings.
I promise you, almost everyone who has their retirement plans in 401ks, IRAs, etc really do care about the stock market and care about it a lot. Some look at it daily, some weekly, and almost everyone I know that has these types of retirement plans talks about the market all the time.
To say it doesn’t matter to the bottom 90% is quite frankly either ignorant (as in uninformed) or asinine.
Do you not know many people at work or friends who are using these retirement methods? Most people I know that do absolutely pay attention and rely on the market.
Only those that are solely relying on social security really do not.