Well that pretty much summarizes everything. Most of us are scrared of the stock market. The 2008 recession happened when I just greaduated high school. It was hard to find a job, and there wasn't much besides college. Even people younger than me would be affected because they saw their parents and other people struggle with finances. I remember hearing about this in my first year econ class. My professor said that his aunts passed away, many years ago, and she was alive during the great depression. When the family was going through her belongings, they found money stuffed under her mattress. She didn't even trust the banks to hold her money even though they were FDIC insured.
They think these people in Washington are gonna hook them up in retirement lol " oh yes they care about me they will give me my retirement because they love me and care "
This is a comment in the article the OP posted, I agree 100%.
i agree with someguy, market is expensive based on most valuation metrics , ie PE ratio, enterprise multiple, PB and so on. Also look at chart of stock market capitailzation vs GDP, one of warren buffetts favorite charts. You would sell tomorrow if you saw it.
If you are young and have 20 years plus to go, you can enter now and dollar cost average . If you older, like me , 50 or 55+ might be risky time. But remember, the market can stay over valued for a long time. Also, most millenials saw what the 2008/2009 crash did to their parents.
If you are young and investing via 401k, who cares. Just dollar cost average in every month. I have people 22-30 who are not in our 401k, they don;t even know how it works. I take it upon myself as the CFO of the company to educate them because they are missing out, especially on the company match.
Glad to see people like someguy thinking smartly and about their future.. Keep it up...
do what mongstra said. The emergency fund is critical first step. Then dollar cost average into index fund.