I have tried to explain that to Mama, because I support it and I, BTW, am 55, so it won't affect me. However, it will affect my children who are 36, 33, and 31. But Mama does not trust the stock market. She knew people who had lost everything in the stock market crash, even though that was before she was born, and she just thinks it would be a disaster.
She doesn't deserve a say in this argument. If she is reacting with emotions and not willing to educate herself regarding investments, then she needs to sit back and let me make my own decision. She can wring her hands all she wants, as long as I'm allowed to make choices with my own earnings.
She should try Jeremy Seigel's latest book. Buy dividend stocks.
Even the S&P is only down 14% from the drunk high of 2000 when dividends are factored in.