Business

$2 Trillion Lost from Retirement Accounts

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A few weeks ago I decided that I’m just going to throw away my next IRA statement without opening it. This is looking like a better and better idea.

Apparently, American retirement plans have lost $2 trillion over the last 15 months. That’s 20 percent of their value. And that doesn’t include what people have lost in just their regular stock portfolios.

This is going to leave a lot of people feeling poorer.

How do you feel?

  • http://sporkmonger.com/ Bob Aman

    I predicted this collapse back in mid-August of 2007 and swapped everything out for a stable value fund. I’ve just been earning the paltry interest rate which doesn’t even cover inflation, but I also haven’t been losing money like everyone else. Well, I lost somewhere between $500 and $1000 between July and August before I pulled, but it would’ve been a lot worse. That said, I warned a few relatives to get out of their equity positions, and apparently they all ignored me and I suspect they’re wishing they hadn’t.