Go for a Mean Tweet right now. Recently retired, down over $400k in 401K. History repeats itself, middle class is done.
Go for a Mean Tweet right now. Recently retired, down over $400k in 401K. History repeats itself, middle class is done.
2022 Basscat Jaquar
Mercury 300 Pro Xs
Been retired 3.5 years now and made decent amount when the markets were/are up these last few years. But how quickly it can disappear! The market will get better but may take awhile. We can't control the markets or the economy and boy it can drive ya' nuts if you let it. I will keep fishing and taking the odd contract from my old employer and keeping the grandchildren and God first in the meantime.
Life is good. Enjoy it
Dale Sinclair original
Headed thru your state on the way to Sturgeon Bay, will be grinning from ear to ear.Originally Posted by local16
2022 Basscat Jaquar
Mercury 300 Pro Xs
It's hard to keep your head up when you look around and see our country circling the bowl.
Yep, it makes a man angry.
Yes it is! Makes me sick.
Don't bother me, I'm screwing for virginity.
I killed a 12-pack just to watch it die.
I’m in the same boat as you. Retired this past January and have been watching my 401k disappear. Financial guy told me to ride it out. Gotta make it until the end of the year to collect SS.
2006 Triton TR-21 XD, Mercury 225 Pro XS, S/N 1B287870
What were the indexes on Jan 2020??? What are they now?? ......If your 401k value has dropped more than 5 percent over that time period you may want to rethink your strategy...
The market has been over valued for years trading at around 36 times earnings ...It doesnt take a rocket scientist to see that is not sustainable...
Now is a good time to Hold or better yet consider moving money into a taxable account while your 401k value is low...That way when it rebounds your growth will be tax free....This is the tyoe of markets that brokers earn their cut..
The fed should have been raising interest rates years ago and not printing money...but no administration wanted to bite that bullet..
"Historically the most terrible things-war, genocide and slavery-have resulted not from disobedience but from obedience"
Zinn
It's nerve racking when your on a fixed income! Hang on for the red wave in November.
2001 ChampioN 206 Yamaha 225
Nobody has lost anything till you sell it.
Hit the nail on head.
This
Anyone that is retired and has his money in a position to lose $400k in a market that is higher than it was two years ago, and essentially where it was when the current clown took over the White House is either:
Ridiculously wealthy, or
Ridiculously stupid, or
Ridiculously full of shit.
Last edited by billspence; 05-21-2022 at 04:43 PM. Reason: Bob G knows the bowl circles in the other direction down under.
"I am going to Eufala to just idle around"
-Haus
***NEW*** 2023 Ford F150 XLT Super Crew 2.7L Ecoboost FX4 cause I am such a baller.
2021 Phoenix 721/ Mercury 250 ProXS 4s with a bent ass trailer
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I have been retired for 15 years and have never put more than 10 % of my money in equites since retiring. People forget there are businesses cycles and things can turn on a dime. Also remember when you get over 65 you do not have as much time for your money to rebound as when you are in your thirties. Beware of Real Estate also. If interest rates go up much it can cool down in a hurry.
I guess I'm 2 out of three.
2022 Basscat Jaquar
Mercury 300 Pro Xs
Largest part of my tax payer funded pension just went up 17%.
Just wait til after next week when the US citizens get sold up the river......
Are you talking about the WHO deal? Doesn’t this have to b ratified by the Senate?
“Has to be “? surely you jest....... it has became apparent they can do anything they want......
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