Thursday, October 15, 2009

Dow 10,000 2.0

 
I remember the first time it happened. I was in a high school economics or social studies class, and we had to watch the news the whole class period. I didn't quite understand what was going on, which my teacher didn't understand since I got the highest grade in my stock-picking assignment (that was pure luck). I think I thought it meant that if you put money in the stock market you would get 10,000 times that when you retired, which was pretty cool.
 
It means something different for me now. It means that my retirement accounts will probably do well again this month (they've been rising by $1000 a month for a while now, many times what I'm contributing). It means that perhaps the economy is stabilizing in a real way, and people will stop pinching pennies by going to the library instead of buying books, which means that my job will be more secure. It means that my parents' retirement may not be in as much jeopardy as it was before, and they won't have to work far longer than they'd planned.
 
Strange what a ten year difference in perspective makes.

4 comments:

  1. Small point but I LOVE the way you linked your 10-years ago self to now, with how it affects your career and life now.

    The big picture perspective is incredible

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  2. It's amazing to think that those that placed their money in the market 10 years ago, are essentially "enjoying" (so-to-speak) a 0% return on their investment. Investments are supposed to be long term, and this recession is truly a fluke (markets are cyclical, yes, but this downturn was far beyond anyone's prediciton), but it makes you think about when gains are permanent. Maybe over a 20 yr horizon?

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  3. Haha. It took me a loooooong time to understand the stock market too. And sometimes I still wonder....

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  4. Alot can happen in 10 years and it's good to see that things are getting better now!

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Thanks for commenting!