RateCatcher was built in March of 2004. The RateCatcher Team is a group of individuals who have a passion for banking, the stock market and investing. The inspiration for RateCatcher came after seeing the stress finances cause most people. Personally I have lost thousands of my own money testing strategies on futures and options. As we’ve seen with the latest economic downturn, the stock market shows no mercy to even well balanced portfolios and retirement accounts. The average 401k lost 27% in 2008. According Leuthold Group it takes an average of 2 1/2 years to regain what’s lost after an average bear market.
What about a severe bear market? It took seven years to regain what was lost after the 1973-74 bear market. After the 86 percent drop in the market during the Great Depression, it took a whopping 20 years for the stock market to recover completely.
Are you willing to take the risk of having all your nest eggs in a typical 401k? You might end up like the millions of elderly seniors who now cannot afford to retire and who have no more time to save. Riskless investments such as CDs, rewards checking, money market accounts and savings accounts will help you sleep better at night and guarantee you will have some retirement money unless the U.S. Goverment goes belly up in which case everyone will be in trouble.