Not Just A Bull Market, Obama Recovery Points To A Strong Bull Economy

[bhikkhu]

23. My experience hasn't been bad

In 2008 I didn't have a 401k, but I did have a decent job and a house. The job became more of a struggle, a small business where money became very tight, and so keeping above water and keeping the house wasn't easy. But, I managed, stayed on top of bills and fixed some credit issues, and took advantage of a low interest re-fi two years ago (thanks, Obama - really!). Things have been pretty smooth sailing since then.

I've been able to sock away half a year's wages in a mutual fund, and its up 20% over the pat year. Now I have a better job, where I put 3% into a generic company-run 401k, and 3% into a subsidized employee stock purchase program. Three years ago (at age 46) I couldn't imagine retiring, ever; now its looking very possible.

My brother and his fiance have both always done well, with decent sized retirement accounts. His lost 60% in 2008, while she had been in the process of changing funds - hers was all in cash when the shtf. Needless to say, while my brother has basically recouped, she's done quite well. Its a running joke how much smarter she was, but of course it was just lucky happenstance.