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Old 02-22-2021, 08:55 PM
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bigbuck bigbuck is offline
 
Join Date: Aug 2009
Location: Langdon, AB
Posts: 459
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Quote:
Originally Posted by Ken07AOVette View Post
2008 was a market crash. To say it was their fault is well unspeakable.

Their money was in mutuals, and when 2008 hit they were gone. They put their money in the bank, who talked them into mutuals. Not sure how that is a catastrophic misjudgement call made by them.

found this online-

Based on the U.S. history of previous market crashes, investors who are currently entirely in stocks could lose as much as 80% of their savings if the 1929 or 2001 crashes repeat. If we have a repeat of the 2008 crash, the loss would be ďonlyĒ 56%.
They would of had to panic and sell their MF. Whether was that the bank told them to do that or not I donít see how else they went from a lot to nothing. If they stayed in the market it likely would have rebounded and then some. Or am I missing something? Either way thatís an unfortunate outcome.
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