With the Stock Market plunging more & more each day, how would that affect us in our daily lives?

Question

What if we already have stable jobs, how would the stock market drop affect us? Would there be less jobs out there if you are looking? Just curious since it's a huge thing going on right now, but if u dont currently invest in the market, how does it affect us?

Answer 1

If you participate in 401K, you are invested in the market.
Think this way.
As 401K's invest all the time, when stocks go down, those are "sales", "bargains".
Have we forgotten when the market was below 3,000, struggling to reach that level?

Then below 10,000, struggling?

The market is always making adjustments, some profit taking.
When too many investors sell, the prices always drop.

Of course there's always risks, but solid companies will always pass through, usually stronger than ever.

Jobs can be affected by poorly run companies without ample capitol and/or excessive debt.

Answer 2

a) I am going to put off buying a brand new motorcycle
b) Looks like I will have to put off retiring for a year or two