And the house, and the condo, and who knows what else, on their retirement.
It wasn’t too long ago I was sitting in the living room with a Lucent employee, watching CNBC. The host had never invested in a stock, but stayed pinned to the tube after hours, cheering on their retirement account (which was funded wholly with Lucent stock). Needless to say, they aren’t betting on that account to see them through the golden years anymore.
You will likely hear every reason known to man why “this time it is different.” Yet it never turns out that way. Diversification has and always will be the saving grace, but with 65% of Americans plowing their retirement savings into homes, I am just wondering what is going to be the straw that breaks this camel’s back.