Yeah, but they won’t all retire and cash out simulatneously. Once that equity is gone, they’ll have to keep working to pay for their (fill in ubiquitous symbol of over consumption here).
My 401k and meager international funds are getting hit, but I’m hoping for a long run gain. We’ll see though. Our 401k stuffed suit said our 401k manager expected 14,500 by end of ’07, and this was I think back before it hit 14,100. I laughed then, and I knew at 14,100 it wouldn’t hit 14,500, but I must admit I don’t think I would have 11,000 here we come…
It’ll turn around, but in a month or year? Who knows.
