Hasn't affected us so much, although our 401 took a mighty hit, at least 30%. OTOH, short term investments have done ok. Our house has lost about 5-10% of its value, but we aren't planning to sell so that's not a big deal. DH's raise got cut back, but we expected and planned for it. His ofc has had rounds of layoffs and is in the process of union busting, but he's seems pretty protected, knock wood. I feel pretty blessed at this point, yet fearful, and we're def preparing for the worst.
My ILs have lost so much of their retirement it isn't even funny, and my father has too. My mom is doing much better, thanks to correctly timing the SFla real estate market, but she's dipping into her principal now due to the dearth of safe investment choices.
Am I the only person wishing they'd raise interest rates? I don't mean to be a downer, but I don't see anyone's 401 coming back in this lifetime. If I'm down 30%, the stock market needs to go up about 43% for me to break even, let alone gain. I don't see it happening.
My mother was telling me she's been investing in the market for 30 years and between bubble and bust, she's just about broken even. She'd have done better to leave it in a savings account. But as we all know, unless you save a lot of money and have very low living costs, 5% will most likely not be enough for retirement, or at least the sort of luxury dream retirement we've all been lead to believe hard work and thrift will provide.
So for me, we've been affected, but I think the bigger changes are ahead.