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re: For those that had money invested in 08-09
Posted on 5/2/15 at 9:15 am to STLhog
Posted on 5/2/15 at 9:15 am to STLhog
I took a hit in 08 but had stockpiled some cash. I kept my 401k rolling and purchased some bargains.
Same thing now...I continue my investments in 401k and my vanguard fund. I have some cash in case things fall off the cliff.
I also save up and try to buy 100 shares of a company I like once every year or so. That has helped my build my own fund.
Same thing now...I continue my investments in 401k and my vanguard fund. I have some cash in case things fall off the cliff.
I also save up and try to buy 100 shares of a company I like once every year or so. That has helped my build my own fund.
Posted on 5/2/15 at 1:08 pm to nelatf
I got out at the top in '01, and back in at the bottom in '03. Felt like a genius.
Rode it out in '08/'09, 4 yrs from retirement, and felt like an idiot. It was VERY painful watching my savings wacked almost in half and I lost some (ok a lot) sleep. Now glad I stayed the course.
Some of my coworkers with sizeable savings freaked out and sold near the bottom. It's hard to grasp the feeling you get when seeing your life savings drop hundreds of thousands of $ and you're nearing retirement (all of us in our late 50's). It's like losing an arm or a leg, like you're no longer whole. One commented he "took some money off the table". In reality he just locked in his losses.
Successful investing sometimes takes a lot of guts.
Posted on 5/2/15 at 1:33 pm to Nawlens Gator
Why are people still heavily invested in equities within a decade of retirement? That's just courting disaster.
Posted on 5/2/15 at 1:41 pm to STLhog
I weathered the storm. Fortunately I'm diversified well beyond just US stocks so the decline wasn't terrible, it was merely bad. But I kept investing more while everything was beaten down so overall it worked out quite nicely.
Posted on 5/2/15 at 1:51 pm to STLhog
All I remember is I BEGGED my husband to move our money ... I was sick thinking about the fall. Yeah, he wished he'd listened to me. C'est la vie. We were upper 30s at the time. One time where I'd have been right for real.
Posted on 5/2/15 at 1:59 pm to foshizzle
quote:
Why are people still heavily invested in equities within a decade of retirement?
1) For some of us, our pensions are plenty to live on and SS is always there if needed. So retirement date is not so much of an issue for savings as is RMD date.
2) Really don't need the savings for anything. Still have a good bit of time before RMD's kick in. I'm down to 10% equities now.
Posted on 5/2/15 at 4:07 pm to tiger91
quote:
All I remember is I BEGGED my husband to move our money ... I was sick thinking about the fall. Yeah, he wished he'd listened to me. C'est la vie. We were upper 30s at the time. One time where I'd have been right for real.
It's a dangerous game to play. I know someone who has missed out on this entire rally because they knew for certain we were headed for a double dip.
Posted on 5/2/15 at 4:08 pm to Nawlens Gator
quote:
1) For some of us, our pensions are plenty to live on and SS is always there if needed. So retirement date is not so much of an issue for savings as is RMD date.
2) Really don't need the savings for anything. Still have a good bit of time before RMD's kick in. I'm down to 10% equities now.
That's perfectly understandable. I meant specifically those who are within ten years of needing to liquidate at least a portion of their holdings, aka the people crying about their positions being cut in half right as they were set to retire.
Posted on 5/2/15 at 8:01 pm to Lsut81
quote:
I know I know its time in the market, but I can't stomach to throw a lot of cash in with as high as it is right now
If you dollar cost average and you are using the market for long term >15-20 yr investing then you shouldn't worry about putting money in when it's "high as it is now".
There is no way of knowing when the correction is coming and by how much. A fund that seems high at $50/share at this market high will still be a bargain when it is likely $75 or higher/share in 15 yrs.
Timing the market is no different than timing the roll of the dice at a craps table for the majority of investors.
Posted on 5/3/15 at 12:52 am to 0jersey
I was in target date funds in January of 2009 before everything crashed. I sold in March of 2009 and bought Financial and Insurance Select Funds because I thought they would have a bigger bounce back. They have and then some. I also took some liquid cash money and bought Citigroup at about $1.00/share, GE at 8.00/share, and BAC at $4.00/share. My only regret with hindsight being 20/20 is not doing more.
I also had alot of LVS at about $100/share when it was "supposed" to go to $200. It got down to below to $10 and I dollar cost averaged over the next year and finally sold for $23/share and ended up having a decent gain. Wife was pissed of course while I was in the red on that trade.
I also had alot of LVS at about $100/share when it was "supposed" to go to $200. It got down to below to $10 and I dollar cost averaged over the next year and finally sold for $23/share and ended up having a decent gain. Wife was pissed of course while I was in the red on that trade.
Posted on 5/3/15 at 8:51 am to Serraneaux
"Timing the market is no different than timing the roll of the dice at a craps table for the majority of investors."
Ding Ding Ding.....we have a winner.
Actually that applies to ALL investors!
Posted on 5/3/15 at 9:35 am to ItzMe1972
It doesn't apply to the very few investors who have insider information. Also there are some, Buffet for example, who consistently win.
There are also professional gamblers in Vegas who make a decent living, but they are few and far between.
Being a day trader and a professional gambler are synonymous in my mind and I consider it playing with fire. It is not a lifestyle I want to be a part of.
Broad based diversification across the world market through low cost indexed mutual funds will accomplish the goal with the least amount of stress and effort. When I gamble I prefer to do it in vegas.
There are also professional gamblers in Vegas who make a decent living, but they are few and far between.
Being a day trader and a professional gambler are synonymous in my mind and I consider it playing with fire. It is not a lifestyle I want to be a part of.
Broad based diversification across the world market through low cost indexed mutual funds will accomplish the goal with the least amount of stress and effort. When I gamble I prefer to do it in vegas.
Posted on 5/3/15 at 11:33 am to TigerTatorTots
Early 40"s at the time. I might have moved a few funds but never got out of market. I always just weather the storm - once you get out its always though to determine when to get back in. Back in 1987 I stayed in the market and my Dad got - his portfolio was probably 10x mine - but yet overall he stated that he regretted that move.
Posted on 5/3/15 at 2:34 pm to TigerTatorTots
quote:
I'm a buy and hold/reinvest dividend investor. I will likely never sell a stock I own for at least 30 or so years.
Being a confirmed bachelor, I wouldn't even encourage a young feller to marry a woman. But I'd certainly discourage him from marrying a stock.
There's nothing at all wrong with a buy & hold strategy (Warren Buffett is living proof of that). But over 30 years time, companies and industries will change. Some will grow and prosper. Some will fail. All I'm saying is, don't adopt any philosophy that means that you go down with the ship... if the ship should ever happen to hit an iceberg.
Just sayin'...
Oh, and to the OP: I went all in in 2009. My thinking was, if the wheels truly come off the Uncle Sam wagon, my ammo supply and dehydrated meals will probably mean more to me than however many shares of XYZ I own. And if the Great Republic makes a comeback, I should be sitting pretty. OK, so I'm not all that pretty, but I am sittin' there now. Call it what you want, but I went on faith in America and it paid off.
This post was edited on 5/3/15 at 2:39 pm
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