Everybody in America started to define themselves by all these things they had around them. And all of a sudden it came tumbling down. So the old American dream has died, and that is a good thing.
If you're saving for the long run, it's actually a good thing when the market is down because the more shares you have, the more you can potentially make when markets rise. And over time - decades, not months - the markets rise more than they fall.
We never had it as rough as the kids have it today. Look at the price of a gallon of gas or a piece of real estate or a college education.
I always knew that I would have to make it on my own somehow.
Cathy Rindner Tempelsman