Up In Smoke
Well-Known Member
I was caught by the 2018/2019 market. I reacted a couple months too late, but didn't lose anywhere near that total. I learned my lesson and was much better prepared for the Fed this time around.
Can you retire under this contract? Y/N
- Thread starter Over70irregs
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Thebrownblob
Well-Known Member
This is the worst year for stock and bond investors since 1969—here's what to do with your money
Broad stock and bond market indexes haven't both posted losses in a calendar year since 1969. Here's what investing pros say to do about it.
I don’t think anyone was cramming their opinion down his throat. When giant investment firms and the market in general is telling you it’s one of the worst years ever, yelling at working people and pretending they should know better he’s a little disingenuous and a lot pompous.
Johney
Pineapple King
I guess maybe I just didn't pay as much attention then as I wasn't retired.
Thebrownblob
Well-Known Member
Quite frankly taking advice from people on an Internet forum for your investments isn’t the best strategy. Most people would be smart to leave their investments alone especially if they have lots of time to make up the difference, if you’re close to retirement you should hire a money manager to guide you. Not paying attention in 2007 didn’t hurt me at all it actually made me a lot of money eventually.
Johney
Pineapple King
Well my plan is to ride it out and hopefully by the time I'm ready I'll have gained some/most of it back.
You just can't panic.
oldngray
nowhere special
What'dyabringmetoday???
Well-Known Member
How does this affect you? Not really your business...
Thebrownblob
Well-Known Member
Yes and I remember in 2007-2008 when some of the older guys were talking about losing a bunch of money it scared a lot of the younger guys who said I’m not even going to put any money in my 401(k) which is a huge mistake in my opinion. Not everyone’s investment strategy nor amount of time they have is the same.
Oh yes I know a few people that put it mostly in the cash after it bottomed out
They never got back in
Thebrownblob
Well-Known Member
It doesn’t affect him personally but it does affect us indirectly. Everyone is a big boy and a big girl and can do as they please of course but if they ask for advice I would tell them it’s a really bad idea to get a huge truck payment especially the year before contract negotiations. If you’re gonna make a big purchase that requires you to make payments the best time is the first year of the contract. My personal philosophy on payments is as few as possible. No car payments for me since 2006 and I don’t plan on having any soon.
Up In Smoke
Well-Known Member
This is the worst year for stock and bond investors since 1969—here's what to do with your money
Broad stock and bond market indexes haven't both posted losses in a calendar year since 1969. Here's what investing pros say to do about it.www.cnbc.com
I don’t think anyone was cramming their opinion down his throat. When giant investment firms and the market in general is telling you it’s one of the worst years ever, yelling at working people and pretending they should know better he’s a little disingenuous and a lot pompous.
Not disingenuous, I responded to someone who wanted to blame a third (or 4th) party for the loss of valuation of their 401K. My point is, if you're not going to maintain your own retirement assets, then take the blame for it's results.This is the worst year for stock and bond investors since 1969—here's what to do with your money
Broad stock and bond market indexes haven't both posted losses in a calendar year since 1969. Here's what investing pros say to do about it.
I don’t think anyone was cramming their opinion down his throat. When giant investment firms and the market in general is telling you it’s one of the worst years ever, yelling at working people and pretending they should know better he’s a little disingenuous and a lot pompous.
Thebrownblob
Well-Known Member
Lol pretending the policies of politicians and manipulation of the fed have nothing to do with it is disingenuous. And like I said you’re the type of person who would say we shouldn’t have a pension everyone should just have a 401(k) knowing full well most people have no desire to look through all the things you’re looking through every day. Some people actually have lives and aren’t concerned with only money and investments.
Up In Smoke
Well-Known Member
I'm a husband, father, small business owner, RPCD and union steward. The 15-20 minutes it takes to maintain my assets daily is a small price to pay. My retirement is the 3 legged stool, the pension, SSI and personal savings. IMO none of these are guaranteed to last forever.
Thebrownblob
Well-Known Member
And the person in question told you he was just fine living on his pension, his statement was just as accurate as yours politicians manipulate things and he didn’t bother to look because it’s not something he spends time doing. Everyone investment strategy is different. Let’s focus on the people who are doing nothing not even saving or investing at all. Not the ones trying and maybe not getting the same outcome as you. Funny because if you listen to every single investment firm commercial they’ll tell you at the end not everyone will get the same outcome.
oldngray
nowhere special
That's about the last person I would listen to
Thebrownblob
Well-Known Member
Sorry if I was a little heated I’m sure @Up In Smoke is doing great and I’m glad for him. He was probably trying to be helpful in his own way. I’ve been defending working people for a long time and and I know most of them are good hard-working people. they have lives, wives, Family and loved ones, maybe sick people to take care of, as well as working a very time-consuming job . If you do this job correctly you can earn over $3 million in your lifetime just working here. A lot of guys have a 401(k) started and know exactly nothing about it but they’re doing what they feel is right for their selves and families by putting money in it, I have a hard time being mad at those people who are trying to do the right thing and got caught in a down market they had very little to do with.
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It isn’t the last 2 years, it’s the next 2 years. This will be the worst we’ve ever experienced. Mark my words.
You don’t make back what you lost. You’re already down big and it’s just starting.
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