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re: Your 401K is getting destroyed
Posted on 6/13/22 at 8:22 pm to Allthatfades
Posted on 6/13/22 at 8:22 pm to Allthatfades
0
Posted on 6/13/22 at 8:23 pm to Allthatfades
quote:
I’m only 40, so it doesn’t matter as much
You sir, are a fool
Posted on 6/13/22 at 8:23 pm to saderade
quote:
There is no reason someone 20+ years from retirement should pull out of the market. They should continue funding their retirement accounts every month and think of it as getting a discount on the funds while the market is in the shitter.
Unless you know something I don't your balance usually doesn't buy, it increases and decreases in value. Let your dollar cost averaging go to buying shares while it is low, no reason not to protect your balance though.
Posted on 6/13/22 at 8:33 pm to Allthatfades
quote:
Your 401K is getting destroyed
I’m about 5 years out from retirement and honestly, my 401K has weathered all of this shite pretty nicely. I elected long ago to focus on growth through dividends. Dividends aren’t glamorous, but over the course of a career, they add up to a nice chunk of change.
Posted on 6/13/22 at 9:10 pm to Allthatfades
I seen this shite in 2008. Guys who were planning on retiring at the end of 2008 all of a sudden had their retirement down 35-40%.
Post WW2 Recessions
- Nov 1948 - Oct 1949
- 1953
- 1958
- 1960-61
- 1969-70
- 1973-75
- 1980
- 1981-82
- Early 1990
- Early 2000
- Great Recession
- Covid
Im no economy expert, but I don't believe a consumer economy is good long term. We create very little, when shite goes wrong and people all of a sudden don't have money to spend or prices spike up, that trickles down.
I think businesses like walmart hurt the economy because it killed local family businesses and without going into detail I think places like walmart and other big box stores have played a role in instability.
Post WW2 Recessions
- Nov 1948 - Oct 1949
- 1953
- 1958
- 1960-61
- 1969-70
- 1973-75
- 1980
- 1981-82
- Early 1990
- Early 2000
- Great Recession
- Covid
Im no economy expert, but I don't believe a consumer economy is good long term. We create very little, when shite goes wrong and people all of a sudden don't have money to spend or prices spike up, that trickles down.
I think businesses like walmart hurt the economy because it killed local family businesses and without going into detail I think places like walmart and other big box stores have played a role in instability.
Posted on 6/13/22 at 9:31 pm to Allthatfades
Yea but nobody making less than 400k is getting taxed extra!!!
Posted on 6/13/22 at 9:35 pm to Allthatfades
Once you get to about 5 years till retirement you start moving it from stocks to more stable/less violative investments
Posted on 6/14/22 at 2:34 am to OweO
quote:
Covid
My 401k rapidly recovered from the Covid downturn. But it’s getting the shite kicked out of it from whatever you want to call 2022.
Posted on 6/14/22 at 2:47 am to Odysseus32
quote:
Most people a year away from retirement aren't holding more than half of their assets in stocks.
What did they have it in? Bonds? Intermediate term bonds are down 15% the past year against 3.5% yield.
Posted on 6/14/22 at 2:50 am to greenbean
quote:
no reason not to protect your balance though.
The reason are the folks who missed out tripling their money over the past 10 years because “it’s about to crash! Better hold cash waiting for the dip”
Even with the events of the past year they would have been far ahead.
This post was edited on 6/14/22 at 2:50 am
Posted on 6/14/22 at 2:51 am to Volvagia
Every day they don’t do anything, add 90 days minimum to see the real bottom. Everything will be affected.
Posted on 6/14/22 at 6:17 am to Allthatfades
Then don't invest a 401K and rely on someone to invest for you when you take all the risk and they take none.
Posted on 6/14/22 at 6:31 am to Allthatfades
I have 10 years to retirement, but we saw this train wreck coming months ago.
Pulled out. Not making a whole lot, but not losing either.
What a disaster these Marxist asshats in DC are.
Pulled out. Not making a whole lot, but not losing either.
What a disaster these Marxist asshats in DC are.
Posted on 6/14/22 at 6:32 am to Allthatfades
Who could enjoy retirement with Orange Man tweeting mean things? I would rather work till I die wih the noble Biden family occupying the White House
Posted on 6/14/22 at 6:32 am to Allthatfades
Unsurprisingly, and with intent.
Posted on 6/14/22 at 6:34 am to OweO
quote:
Im no economy expert
Facts
Posted on 6/14/22 at 6:48 am to Allthatfades
Thank you Joe Biden...and thanks to all the A--HOLES who voted for him, even the dead ones!
Posted on 6/14/22 at 6:49 am to Cracker
quote:
Boomers getting screwed darn it
No, your inheritance.
Posted on 6/14/22 at 6:49 am to LSUtoBOOT
Hopefully today is up from yesterday. But I doubt it will correct what we’ve lost since Jan 2022.
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