DJ Drops 1000 Points on Opening Bell.. So What!

"The Dow Jones Industrial Average dropped an astonishing 1000 points in the minutes following Monday’s opening bell. 30 minutes later, the market index rebounded to around -500, before dropping back down to -700. The record for all-time greatest drop by the day’s end was a 777 point drop in August 2008"

If one is fortunate enough to have an employer match contributions most likely they are still ahead on their 401k. On the other hand if one invested on their own they more likely would have had their clock cleaned without that sort of match.

Here's the way I see it
All too many times these days we expect money to earn money in of itself rather then providing some sort of labor for our services or goods in exchange.

Way back when there were small self owned businesses. Some would provide dry cleaning, shoe, appliance repairs, other services or manufactured goods. Each were entirely dependant on the amount of effort or the need for them. Owners would then bank their money in savings accounts untouched by what went on in the stock market. A couple of percentage points earned in interest to keep up with inflation was all that was needed.

These days far too many people take these earnings investing them with promises of double digit returns which never seem to pan out over the long haul. In other words, slow and steady wins the race.

The more someone is not dependent on wall street or the global economy the better off the average smuck is for it.



There's No Such Thing As Free Money w/o Having To Work For It
No matter what the money changers would have you believe otherwise