Brexit "your thoughts" Is your 401 k safe?

[Brownslave688]

Now that there was a majority vote to leave, is your 401k safe?, and what are your predictions and thoughts on where the stock market goes from here.

I've got 25+ years left makes no difference to me.

 

[Brownslave688]

The bulk were bought between $90-95.

And I tried to tell you to sell in the $130's

 

[By The Book]

I don't know enough to agree or disagree with anyone about anything. All I know is that I was listening to Ric Edelman's talk show yesterday and his explanation made sense for me since I'm a long term investor, not a trader.

What the Brexit means for your retirement - Yahoo

“This is a classic knee-jerk reaction from Wall Street traders,” Edelman tells Yahoo Finance about the Brexit selloff in stocks. “Our clients are focused on their long-term goals. There will be no sustained impact five years from now. They can ignore it, or if anything, capitalize.”

Edelman Financial Services manages $16 billion for more than 30,000 clients.

It seems like time after time that when the market goes down 5-10% it always creeps back to the previous highs before the drop. If people are paying attention to past drops in the market they won't pull their money out of stocks and put them into bonds. They will miss the recovery when things settle down.

 

[Brownslave688]

Thanks for your advice but I prefer to listen to the pros. My financial adviser (Edward Jones) told me to hold on to my shares and to use their money (dividends) to buy more.

Not that they are terrible but Edwards jones people are not certified financial advisors for the most part. They take a few tests through Edwards jones but the bulk of becoming one is showing that you have a plan to drum up new customers.

 

[Catatonic]

I don't know enough to agree or disagree with anyone about anything. All I know is that I was listening to Ric Edelman's talk show yesterday and his explanation made sense for me since I'm a long term investor, not a trader.

What the Brexit means for your retirement - Yahoo

“This is a classic knee-jerk reaction from Wall Street traders,” Edelman tells Yahoo Finance about the Brexit selloff in stocks. “Our clients are focused on their long-term goals. There will be no sustained impact five years from now. They can ignore it, or if anything, capitalize.”

Edelman Financial Services manages $16 billion for more than 30,000 clients.

My advisor and I just discussed this this morning. Only making a couple moves.
Even with the BREXIT drop, I'm up 6% for the year. Nothing I did, just my advisor.

 

[oldngray]

My advisor and I just discussed this this morning. Only making a couple moves.
Even with the BREXIT drop, I'm up 6% for the year. Nothing I did, just my advisor.

My advisor called me this morning wanting to set up a meeting. They must be getting a lot of pressure to get more money back into the market. I told her I'm not doing anything yet. Not selling anything but still waiting for it to bottom out before buying anything.

 

[UpstateNYUPSer(Ret)]

And I tried to tell you to sell in the $130's

You would be the last person in the world that I would take any financial or parenting advice from.

 

[Babagounj]

I'm ruined .
I would throw my self off of a tall building , but nothing higher than a 3 story around here .

 

[Catatonic]

My advisor called me this morning wanting to set up a meeting. They must be getting a lot of pressure to get more money back into the market. I told her I'm not doing anything yet. Not selling anything but still waiting for it to bottom out before buying anything.

Mine was more of rebalancing of assets.
I have everything in the Market, CD's and we just put 20% in Money Market back in March.
I expect that I'll put half of the Money Market into hard hit but should rebound assets.
Luckily, I specified nothing in the Financial market a couple years ago ... might be a good time to jump back into that sector.

 

[Catatonic]

An article I read said this will be a small blip on a graph and over time nothing much to worry about.

I remember back in 2001-2002 making almost a 100% ROI on the swing in Airline stocks.
Unfortunately, they were short-term so I paid almost 30% taxes on the gains.

 

[UpstateNYUPSer(Ret)]

And I tried to tell you to sell in the $130's

To be fair, I should have sold at $130. I really thought it was going to go as high as $150.

 

[Brownslave688]

You would be the last person in the world that I would take any financial or parenting advice from.

I was very close to changing over to Edwards jones "financial advisor" just about a year ago but wasn't willing to do the door to door knocking they wanted me to do.

 

[UpstateNYUPSer(Ret)]

I was very close to changing over to Edwards jones "financial advisor" just about a year ago but wasn't willing to do the door to door knocking they wanted me to do.

"Door to door knocking"?

 

[moreluck]

Playing with options, when you know what you're doing...best day $90,000 profit. (Priceline) Many lessr days of $10,000 and $6,000. No financial advisor needed.
Worst day a few hundred lost.

 

[moreluck]

 

[wayfair]

 

[moreluck]

 

[oldngray]

Stocks Recover, Were Brexit Concerns Overblown?

Stocks Recover, Were Brexit Concerns Overblown?

 

[rod]

What-me worry?

 

[rickyb]

ive heard this argument from max keiser as well.

Richard D. Wolff ‏@profwolff Jun 28


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