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Posted on 5/19/22 at 10:29 am to Gaston
quote:
Son’s college savings account has lost $6351.75 this year so far.
fortunately for him it sounds like it's a small account, I'm down six figures in two accounts over the last couple of months, got to ride it out, you're not supposed to "buy high, sell low"
Posted on 5/19/22 at 10:31 am to Gaston
let's go brandon!
my 401k has lost over $100k just in the last few months
my 401k has lost over $100k just in the last few months
Posted on 5/19/22 at 10:31 am to Mingo Was His NameO
It’ll be a nutty ride, NONE of the HS JRs (2023s) have been offered by the good schools yet. That’s crazy to me.
Posted on 5/19/22 at 10:32 am to 777Tiger
Where the frick are your kids going to school? I was planning on sending him to one of the in-state SEC schools.
Posted on 5/19/22 at 10:32 am to Gaston
Is it in a 529 program or just a savings account?
Posted on 5/19/22 at 10:33 am to LilDeuceCoupe
529
Posted on 5/19/22 at 10:35 am to evil cockroach
quote:
Time in the market >>>> timing the market
So the pull out method doesn’t work with stocks or sects.
Posted on 5/19/22 at 10:37 am to Gaston
quote:
Think it’s prudent to call em and move it out of whatever Option I’m in (Moderate)?
If you started this thread in January then yes.
Posted on 5/19/22 at 10:37 am to Odysseus32
quote:
If we are leaving an era where the market doesn't always gain in the long term
This sounds like basically the entire economic collapse of every country in the world.
Posted on 5/19/22 at 10:38 am to Gaston
quote:
Where the frick are your kids going to school? I was planning on sending him to one of the in-state SEC schools.
that's not for the kids, baw! that's for me! we're empty nesters
Posted on 5/19/22 at 10:38 am to Gaston
quote:
Think it’s prudent to call em and move it out of whatever Option I’m in (Moderate)? I guess my only risk would be that the market rebounds and I miss the uptick by being in the Guaranteed Option.
It’s gone down in value. But you haven’t actually lost a dime yet. The only way you actually lose that six grand is is you pull out now.
This post was edited on 5/19/22 at 10:46 am
Posted on 5/19/22 at 10:39 am to Gaston
This is why having a son is a big mistake. You have a daughter and she always has a lucrative OnlyFans career to fall back on.
Posted on 5/19/22 at 10:39 am to Darth_Vader
quote:
But you haven’t a risky list a dime yet.
English?
Posted on 5/19/22 at 10:42 am to Gaston
quote:
Son’s college savings account has lost $6351.75 this year so far.
Send your thank you note to:
1600 Pennsylvania Avenue, N.W.
Washington, DC 20500
Posted on 5/19/22 at 10:44 am to Gaston
Depending on when you plan to use it might want to consider student loans as an option and then weathering the storm and using 529 funds to pay off the student loans after the rebound. This is assuming he is about to enroll in college.
Posted on 5/19/22 at 10:45 am to Abstract Queso Dip
He’s a freshman in HS.
Posted on 5/19/22 at 10:45 am to Mingo Was His NameO
quote:
English?
More like Apple autocorrect has struck again. See corrected above.
This post was edited on 5/19/22 at 10:47 am
Posted on 5/19/22 at 10:49 am to Gaston
Perfect timing then. Tell him to get a job cause Brandon forced everyone to lose their college savings investments. Then after he learns a little responsibility for 3 years. Surprise him with the 529 funds.
Posted on 5/19/22 at 10:56 am to Alt26
quote:
Skip college and let him learn an in demand trade. The advantage of a college degree is being diluted daily. At some point we will have millions of History, English, Liberal Arts, etc majors walking around desperately looking for someone to hook up electricity to their apartment or run plumbing to their homes. When that is the case, guess who can name their price for their services? It isn't going to be the History major
I don't disagree with your overall point, but his son may be someone who would benefit from college. A bit early to tell if he will be a tradesmen or a mathematician.
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