So... the third quarter statement arrived in the mailbox yesterday. Thousands of dollars....gone.
My elderly mom asked, "Where did the money go?"
It's a good question. But where do you start? A simple explanation doesn't exist. Just like that "money" we think we have in stocks, in mutual funds, etc. It really doesn't exist at all. As I read it, stock values are really the "best guess" of what someone thinks the stock is worth.
I did a search and this article explains on an elementary level anyway, what I'm trying to say.
But rest assured, the money IS gone.
Fortunately we were never ones who ran up credit. My parents taught me to live within my means, and I've done that. Saved first, then spent. And now it's up to us.... the people on the bottom to bail out the folks at the top who didn't take that tried and true advice.
It sucks.
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