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Message
re: My retirement account is up 29.5% YTD - Why is Trump getting impeached???
Posted on 12/18/19 at 10:58 am to Sneaky__Sally
Posted on 12/18/19 at 10:58 am to Sneaky__Sally
quote:
Its almost like something happened in 2007 which destroyed a lot of retirement accounts, pensions, etc
quote:
lol, i'm 30 years old
Then you should be old enough to understand supply and demand and/or not opine on issues you’re ignorant about. When the economy contracts, stocks go down. When the economy grows, stocks go up. Stocks have gone back up since 2007. Boomers had a fabulous economy and are eligible for reverse mortgages. No need to white knight for an irresponsible parent.
1
Posted on 12/18/19 at 10:59 am to MarinaTigerEsq
quote:
Boomers had a fabulous economy and are eligible for reverse mortgages.
Probably the best of all time.
Posted on 12/18/19 at 11:05 am to Sneaky__Sally
quote:
But I can also recognize that the stock market crash, coupled with massive unemployment and low wages probably forced people to dip into their investments and savings to survive at that time. As a result, they are less able to take advantage of this rebound. That scenario is a big reason why the stock market benefits the wealthy far more than the normal investor. The wealthy can survive the downturn, invest more after it has dropped to buy low and then ride the wave back up. Working class people have a harder time maintaining investment wealth.
You realize unemployment benefits went on for years after the downturn, right? You also realize that smart people in a good economy will do things like set up a 6-8 month emergency fund, buy the house they need instead of maxing out what they borrow, and continually cultivate new marketable skills? The working class is not meant to have Scrooge Mcduck money. Life is a bit harder at a lower skill/education level. I don’t know why people point out basic facts as if they are urgent social issues of our time.
Posted on 12/18/19 at 11:11 am to LSUconvert
If you really believe that, you have a lot to learn.
Posted on 12/18/19 at 11:11 am to MarinaTigerEsq
quote:
You realize unemployment benefits went on for years after the downturn, right? You also realize that smart people in a good economy will do things like set up a 6-8 month emergency fund, buy the house they need instead of maxing out what they borrow, and continually cultivate new marketable skills? The working class is not meant to have Scrooge Mcduck money. Life is a bit harder at a lower skill/education level. I don’t know why people point out basic facts as if they are urgent social issues of our time.
Right, and I was just indicating that your blanket idea of - if you were born in this generation you should have had no problem surviving the recession with plenty of money to take advantage of the stock market bounce since that time - is pretty naive and not based in reality.
I'm sorry I just find blanket "muh boomers" statements to be pretty moronic.
Posted on 12/18/19 at 11:14 am to MarinaTigerEsq
quote:
why not get a reverse mortgage
You have just disqualified yourself from giving any financial advice.
quote:
Why cripple the next generation economically
Continuing to vote for politicians that expand debt and refuse to address the continuous cost ramping of medical will absolutely cripple the next generation.
Posted on 12/18/19 at 11:18 am to Sneaky__Sally
quote:
Right, and I was just indicating that your blanket idea of - if you were born in this generation you should have had no problem surviving the recession with plenty of money to take advantage of the stock market bounce since that time - is pretty naive and not based in reality. I'm sorry I just find blanket "muh boomers" statements to be pretty moronic.
If you are/were an able-bodied boomer, you should absolutely have enough tucked away to be housed and fed through retirement. Whether you have enough to be a wealthy investor doesn’t make a difference (and certainly isn’t my blanket idea). I’m pointing out that with thrift and common sense, most boomers should have been able to ride out the recession, and down investments have had time and chance to rebound. If the working class had to dip into their investments, they should be thankful they live in a country where low skill/education people even have that option. I’m not naive, btw, while normal boomers should have all had the resources they needed to ride out the recession, as I point out, many were wasteful and irresponsible.
This post was edited on 12/18/19 at 11:34 am
Posted on 12/18/19 at 11:20 am to whocares1
quote:
You have just disqualified yourself from giving any financial advice.
Expound please.
It’s not general financial advice. Its not advice on growing wealth for an RV lifestyle. It’s an option if you’re older and short on money for retirement.
ETA: whocares is now googling reverse mortgages and realizing they’re a decent idea for seniors who need a bit more retirement income.
This post was edited on 12/18/19 at 11:33 am
Posted on 12/18/19 at 12:15 pm to MarinaTigerEsq
No, Whocares has work. You are giving away part of your asset.
Posted on 12/18/19 at 12:35 pm to whocares1
quote:
Whocares has work. You are giving away part of your asset.
You are mortgaging an asset (that you can still live in the rest of your life) to get money to live. It’s not an investment, it’s yet another way boomers can increase their retirement. I thought the issue was boomers short on cash, not boomers looking to increase their wealth.
Posted on 12/18/19 at 12:39 pm to MarinaTigerEsq
You are giving away part of your asset. There are many better ways to have more access to cash than giving the bank more of your money.
You made your own inference there.
quote:
I thought the issue was boomers short on cash, not boomers looking to increase their wealth.
You made your own inference there.
Posted on 12/18/19 at 12:45 pm to whocares1
quote:
You are giving away part of your asset. There are many better ways to have more access to cash than giving the bank more of your money. quote: I thought the issue was boomers short on cash, not boomers looking to increase their wealth. You made your own inference there.
Tell me some of these better ways.
You are not giving the bank your money, you are giving them the right to your asset once you die in exchange for the purchase money for said asset.
I don’t know what inference you’re referring to, but there is a difference between wealth and liquidity. This is about boomers short on retirement money- not boomers doing wealth/estate planning.
This post was edited on 12/18/19 at 12:52 pm
Posted on 12/18/19 at 12:55 pm to NorthEnd
quote:
Damn. I'm only at 15%. What are y'all in that I'm not?
I'm almost all Vanguard Funds
Low cost index type funds. Check the costs on each of your funds.
Posted on 12/18/19 at 12:57 pm to TDsngumbo
not gonna read the whole thread.
the market is up huge because the federal reserve has done a complete 180 from where they were in december 2018. they have cut rates and are actively buying T-bills and calling it "not QE." this is a central bank pump, and will eventually spark bigly inflation.
trump is trump. the economy is the economy. but the fed is the stock market.
the market is up huge because the federal reserve has done a complete 180 from where they were in december 2018. they have cut rates and are actively buying T-bills and calling it "not QE." this is a central bank pump, and will eventually spark bigly inflation.
trump is trump. the economy is the economy. but the fed is the stock market.
Posted on 12/18/19 at 1:01 pm to Squidbaggins32
quote:
trump is trump. the economy is the economy. but the fed is the stock market.
Not disagreeing, but don’t discount the huge role expectations and foreign markets play.
Posted on 12/18/19 at 1:03 pm to Squidbaggins32
quote:
trump is trump. the economy is the economy. but the fed is the stock market.
No. It's Biz Con. A free market friendly adm = release of venture capital. Stocks go up.
Posted on 12/18/19 at 1:11 pm to Zach
we've been a tear since 10/11. go look at the major indexes. what happened that day?
LINK
i voted for trump and i'll vote for him again. but the extent to which the stock market, ergo the entire financial system, relies on suckling the fed's teat scares the piss out of me. 2018's volatility was a result of them trying to normalize what was supposed to be CRISIS intervention, which they've now given up on.
our boy knows it, too:
LINK
"By keeping interest rates low, the Fed has created a “false stock market,” Trump argued in a wide-ranging interview in which he also talked about Democratic nominee Hillary Clinton’s health problems."
LINK
i voted for trump and i'll vote for him again. but the extent to which the stock market, ergo the entire financial system, relies on suckling the fed's teat scares the piss out of me. 2018's volatility was a result of them trying to normalize what was supposed to be CRISIS intervention, which they've now given up on.
our boy knows it, too:
LINK
"By keeping interest rates low, the Fed has created a “false stock market,” Trump argued in a wide-ranging interview in which he also talked about Democratic nominee Hillary Clinton’s health problems."
Posted on 12/18/19 at 1:15 pm to Squidbaggins32
So, if both houses of Congress and the Presidency and the Supreme Court in 2024 is dominated by members of the New Communist Party which bans private enterprise then the stock market will go up because of the Fed? Really?
Posted on 12/18/19 at 1:19 pm to Zach
of course that would be bad for the economy, and eventually hit stocks too.
but overall, we would not be at 320 on the S&P 500 without the fed. nothing is priced realistically and we have an extremely distorted stock market where underlying values are "hidden" underneath layers and layers of freshly minted fedbux. its been this way from 2009-now.
LINK
but overall, we would not be at 320 on the S&P 500 without the fed. nothing is priced realistically and we have an extremely distorted stock market where underlying values are "hidden" underneath layers and layers of freshly minted fedbux. its been this way from 2009-now.
LINK
Posted on 12/18/19 at 1:22 pm to Squidbaggins32
also to be clear, i started digging in to this topic to try to understand why donald was bashing the fed 24/7 on twitter. i get it now, he's not going to be the one to take the fall for their stupid shite over the last decade. i would do the same in his position.
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