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Message
re: Your 401K is getting destroyed
Posted on 6/13/22 at 3:49 pm to TygerDurden
Posted on 6/13/22 at 3:49 pm to TygerDurden
quote:
This is correct. You don’t just magically move everything to this so called “safe”spot right before retirement. Without guaranteed pensions You have to stay in the game and generate income via your investments. You may do this “safe spot” investments Strategy in your 70’s but if you are in your late 50’s or early 60’s you have to stay in the game unless you have accumulated a mass of wealth. That is the rough decision for anyone that is in their late 50s or early 60’s. Do you gamble that this impending downturn is short lived and just retire or do stay at the grind you have been doing for 40 years? Tough decision. I know this all too well.
That's where I am. 57, planning on retiring Jan. 2023. As I've been approaching retirement, I've been thinking about how to re-allocate investments. For years I imagined I would simply move from stocks into bonds. Well, the bond market has sucked hind tit for a while now. So rather than move funds, I simply changed where my contributions were going. It still has left me close to 50% in stocks, so I'm down some. I'm considering not collecting from it until I'm 60 depending on how fast it comes back up.
0
Posted on 6/13/22 at 3:57 pm to mjthe
quote:
You posted this on the Money Board also. 401ks don't necessarily have bear funds
OK, this is true but you could sell covered calls in the money as another way to play it. Have downside risk protection but make money on time value. More than one way to skin a cat but I guess that takes effort on peoples part to learn that and not just think “stonks only go up!”. People need to educate themselves on how to position themselves to make money if they think markets are going down. It’s only their retirement right? LOL. You sound like you might. Congrats.
Posted on 6/13/22 at 4:00 pm to Realityintheface
quote:
OK, this is true but you could sell covered calls in the money as another way to play it. Have downside risk protection but make money on time value. More than one way to skin a cat but I guess that takes effort on peoples part to learn that and not just think “stonks only go up!”. People need to educate themselves on how to position themselves to make money if they think markets are going down. It’s only their retirement right? LOL. You sound like you might. Congrats.
401ks allow people to write calls?
Posted on 6/13/22 at 4:25 pm to 9Fiddy
You lost $7,000 last Friday, you'll lose even more today!! Mutual fund prices don't update until an hour after the close of the market day, so if you see $(7,000) right now, that's from the prior day. S&P 500 was down (3.19)% on Friday.
Posted on 6/13/22 at 4:43 pm to Allthatfades
I am retiring in 3 weeks but I also took everything out of all my 401k plans about 16 months ago. Invested into something that has a floor. Happy I did.
Posted on 6/13/22 at 4:44 pm to Allthatfades
I'm thinking of all the boomers in my firm who really need to retire. This is not helping things.
Posted on 6/13/22 at 4:45 pm to greenbean
quote:
only dumb*sses. In December, the signs (war, inflation, interest rates, labor and supply shortages, etc) were screaming at us to get out of the market. Those who didn't listen are either ignorant or greedy.
You should have posted a warning for us dumb asses back in November. Since I started reading the TD Money board in 2008 not a single person that has predicted a market crash has been correct, and for those that supposedly got it right they only seem to post about it after it happened.
Posted on 6/13/22 at 4:50 pm to Allthatfades
Mid 30s here. Increased my contribution from 3% to 10% a few weeks ago, when I saw things heading south. Hopefully it pays off years down the line. (If I could afford 20% as market values tumble, I would.)
Posted on 6/13/22 at 4:52 pm to Allthatfades
quote:
401K is getting destroyed
not mine. cashed it in.
Posted on 6/13/22 at 4:52 pm to Allthatfades
Subtle “I have a job” brag
Posted on 6/13/22 at 4:58 pm to wasteland
My portfolio has dropped significantly but it’s all money I haven’t touched yet. I’ve been retired almost 5 years and living solely on Social Security. The key for me was that I retired debt free.
Posted on 6/13/22 at 5:11 pm to Allthatfades
Bloods in the water….eat
Posted on 6/13/22 at 5:28 pm to DirtyMikeandtheBoys
My OT baller status is in jeopardy.
Posted on 6/13/22 at 5:42 pm to EA6B
quote:
You should have posted a warning for us dumb asses back in November. Since I started reading the TD Money board in 2008 not a single person that has predicted a market crash has been correct, and for those that supposedly got it right they only seem to post about it after it happened.
Bingo!
There are some on there that have been predicting a crash for 8 years now.
Posted on 6/13/22 at 5:45 pm to Allthatfades
I made a mistake and read my last quarterly reports… It made me sick to my stomach…
Posted on 6/13/22 at 5:46 pm to EA6B
quote:
Since I started reading the TD Money board in 2008 not a single person that has predicted a market crash has been correct, and for those that supposedly got it right they only seem to post about it after it happened.
You don’t remember all the threads warning about a downturn when the feds turned off the QE spigot?
Half that board lost their minds at the mere suggestion that hard times could be ahead.
The next hard lesson coming is in real estate.
Posted on 6/13/22 at 5:53 pm to Allthatfades
Been having a personal Roth that I've been throwing $200 into every month since I was 19 years old.
Just looked and it's lost $5k since 4/30/22.
I hate that twat Biden.
Just looked and it's lost $5k since 4/30/22.
I hate that twat Biden.
Posted on 6/13/22 at 5:53 pm to LSU alum wannabe
quote:
If any of you Baws are over 60, cheers to you and I wish you luck.
No luck involved. I got out for the Tech crash in 2000, and before 2008, and before this one. Lots of warning bells for all of them. I learned from my father who went through this in the 70's. No specific advice other than when everything seems fricky - run for your lives.
Posted on 6/13/22 at 6:02 pm to EA6B
quote:
Since I started reading the TD Money board in 2008 not a single person that has predicted a market crash has been correct
horseshite. The Money Board was really good in the 2008-2009 crash. Jersey Tiger in particular, others including Colonel Hapablap and Milehigh to dredge up two names I can think of. But Jersey Tiger made a post about a collapsing municipal bond fund that made a lot of money for anyone that paid attention. For a while the Money Board was ruled by the anarchists, and it was greatness in spite of the blood in the markets. Nobody there currently learned anything.
Posted on 6/13/22 at 6:04 pm to Tigris
DROP is getting 9.1% this year 12% next year. Government work is finally paying off.
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