Wednesday, 10 December 2008

Maclean's, 2 moths too late.

Jason Kirby points out that if you started investing back in 1998, today you're screwed.

Well I figured that out 2 months ago...

Now I don't feel that smart. I started seriously investing in my RRSPs in 1998. Like all investors, I'm counting on 8% growth per year. So my 1998 investments should be up by 80% by now....

Instead, all of my investments are at 1998 levels.

Yippee-Ki-fucking-yay. However, I do have a backup plan. I have two boys. I'm moving in with whichever one is most successful when they grow up!

In all seriousness though. This is a big friggin deal. Its not just today's retirees that are facing tough economic times. Everybody is invested in the stock market to some extent. I still have a good 20 years before retirement, but the first 10 years of my career have amounted to diddly squat retirement wise. How the hell am I going to make up the losses from the last 10 years and still accomplish the next 20 years goals? For that to happen I need a bull market like never before. The reverberations from this are going to affect policy and the economy for decades to come.

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