The Dow Jones index dropped another 128 points on Friday, closing at 8,451. It actually dipped under 8,000 during the day, before rallying back. It's 52 week low (7,882) is only 55% of its 52 week high (14,279).
How low do you think it will go? Are you worried? Does it feel like a recession to you, even though we aren't technically in one? Will the economy's problems alter your plans for saving for retirement or other goals? These are all questions I'm curious to learn answers to.
I don't really know where the bottom is. I sure hope it's not too much lower. I am worried. A slow down in the economy greatly impacts my job security. It hasn't felt like a recession to me until very recently. It seems there has been much more focus on it lately, and people are actually starting to pay attention to what's going on around them. The silver lining here is that this may help bring us back to being a nation of savers, rather than free spenders on imaginary money. A basic rule of thumb my single income family tries to live on- spend less than you earn and save the rest.
And no, I'm not worried enough about the economy to stop contributing to my retirement accounts. At prices this low, it'd be silly for someone my age to do that.
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