Power is out, but not me!

ANWR has never generated a single barrel of oil. The results of the only test well ever drilled have never been published (not even to the government - the company that drilled the well has never released the results to anyone).

In any case, it would take a decade to build out the infrastructure required to drill the wells and build a pipeline to transport the product.

The estimated amount of recoverable oil in the ANWR region is about 4 to 7 billion barrels. The USA burns through

Bullshit. Opening ANWR will have no impact on the worldwide price of oil.

Just like me. I lived in a house for over 30 years and sold it for over

Damn Yankees moving south has created a major housing problem here. They have a 1500 sqft house or so and sold them a few years back for $

Yes timing is very important. Before the 2020 election most of my IRA was in stock. Having to take a MRD I thought the stock market was going to go down so I converted about 3 years of MRD money into cash or short term Government treasuries or CDs. Turned out I was right. A few months ago I decided to invest that cash plus some more in Nividia stock and that has paid off greatly in the last few months. With a pension and Social Security I can hold my lifestyle if the market does go down and stay down for many years. I just can not buy lots of things like I normally would. Have to eat hamburger instead of steak so to speak.

I see you cut off the part of my response that you did not like.

If you mean this paragraph:

"Prices can depend on what will happen in the future not the current situation. So Biden blamed the oil companies on raising prices to get more profit. Sadly there are many in this ng that believe him."

That's pure speculation on your part and didn't deserve a response.

I prefer never to worry about timing. I never sell. Unless you are selling at a lower price than your basis in order to balance some capital gains by taking a voluntary capital loss, you are likely to be selling at a higher price than your basis. You will pay capital gains taxes on your profit. You may also be paying some commission or fee to a broker or other selling agent. Depending on the investment, you also may have to pay a commission to repurchase the asset if you believe it becomes a good candidate for future appreciation. If you guess wrong, you miss out on future gain. In the long term, unless your name is Warren Buffet, trying to time the market is likely to cost you more than riding out the downturn. I'm not smart enough to know when to sell or when to buy.

Prior to retirement, I didn't have the time, even if I wanted to, to devote to managing my portfolio. Since retirement, I don't want to spend my time doing it either. All my investments are on autopilot. I calculate my net worth every January 1st just for grins and giggles and never look at it during the other 364 days. Bottom line: I was able to fully retire at age 56 (I'm pushing 80) and have never needed to liquidate one penny of my portfolio. Since retirement, I pull out the investment yield but never touch the principle. My standard of living is much higher than when I was working because I was investing a huge percentage of my income and reinvesting 100% of the investment yield. The month after I retired, my cash flow tripled because instead of re-investing 100% of my investment yield, I started diverting it all into my checking account along with my pension distributions and no longer purchase more investment assets. Cash flow has only climbed since then by ignoring the market and sleeping well.

How did I do it? I started investing in my early - mid 20s and lived prudently. Increases in income from bonuses and promotions went 100% into investments. I never "treated myself" by spending any of the incremental increase in income. My standard of living was the same at retirement as it was when I started working. I resisted the temptation to increase my standard of living as my income rose. Why did I take the chance on postponing gratification? Good genes. Both my parents lived independently until they both died in their late 90s. Suggested reading: "The Millionaire Next Door" by Thomas J. Stanley. When I found out about the book, I learned that I had been following his advice for many years prior to its publication.

Democrats don't have truth on their side so they rely on censorship.

He thinks I am speculating so I guess he does not understand economics.

Maybe. In 1989 we bought a house for $59,000. In 1997, using the appreciation, we bought a house for $133,000. In 2000, we bought a house for $200,000. Looks like we did OK on using the appreciation.

I finished college in 1997, so I had an income bump. That made the payments on the more expensive house feasible; we rolled the appreciation into the down payment on the more expensive house.

I did about the same. The sure route to saving is to live below your means. Even when paying for two sons in college at the same time I was saving.

Savings are also widely scattered so there are no big loses. I sold company stock given as bonuses and in 401k and scattered it. We have a family member that saved all his company stock even investing more in it. Unfortunately that company is Boeing.

Wash sale warning.....

You're no economic expert. Just another anonymous usenet poster.

Oil prices are set by the market. Your assertion that the President's actions (infrastructure bill, cancelling keystone, favoring renewables) have anything to do with the day-to-day price of gasoline is just an assertion, not backed by any data. And you ignore the primary drivers which are completely outside of the presidents control (the war in ukraine, recovery from the pandemic shipping issues, Trumps ban on crude from Venezuela (for which the US had been the largest customer), refinery shutdowns or conversions to biofuels.

Sure, but I'm not convinced by your description. Not a penny of that unstated "appreciation" was available for discretionary enjoyment, it was only "on paper" because it was locked up in the equity you had in each of the houses and was unavailable to generate income. You didn't specify what the sales price of your prior homes were or discuss the expense of real estate agent commissions and/or closing costs. Also, when you closed, you only received your equity back (down payment plus monthly mortgage payment of principle). You also had interest expenses on the mortgages because even if you were able to itemize, interest payments only provided a deduction (not an exemption) on your income tax. There's no way to determine from your narrative the net profit you made on the sales of the prior homes. You didn't even say that you sold the prior homes; just that you used the appreciation. Perhaps you used the equity in those older homes to provide the down payment for the purchase of each additional residence.

I can provide the same incomplete picture. I purchased a house in the late 1980s for $165K. In 2017, I used the appreciation to pay some of the cost of a more expensive residence ($840K). Doesn't tell you anything about the magnitude of appreciation in the house I purchased in

Wash sales pertain to a sale and repurchase within 30 days. I remain skeptical that any investment fluctuates enough within 30 days to warrant that strategy unless (1) there's illegal manipulation of the market price combined with insider trading, (2) the sale/repurchase involves a huge number of shares/units, or (3) the market price per unit is astronomical, e.g., a full share of Berkshire Hathaway stock, and habitually volatile in price.

Some of the better advice given to me was to not invest in the company you work for. Glad I did not as the company went under a few years after I retired. Those people like Enron ( whatever) sure got screwed as I think they had to put their 401k in the company stock.

I was on the road to retire at 59 but the company was sold when I was about 55 and the new company screwed over us and even retiring at 62 it still cost me about $ 1000 a month and no medical coveage. So for about

"Too bad there is not a law that says a company has to offer you atleast what you signed on for even if the company is sold. One fellow mssed out on some reirement by not being born 5 days sooner, anoter by 12 days , and me by 4 months.That was after being with the company for around 25 years.

The house appreciation is really enjoyed by the children. My parents house was built for around $ 50,000. When they passed about 20 years later it was worth $ 140,000. They did not see that by I did as an only child.

Had they been renting I would not have getten anything.

The wash sales are for losses not gains. I made a fair amount of gains with around a $ 10,000 investment of a company that the stock would go from around $ 10 to $ 14 almost weekly. I was doing it on line so did ot pay a fee to the brokers. I did just mess up and sold some stock at a loss and about 2 weeks later buy it back as it had fallen even lower but was a good buy and 6 months later was up a good bit. I should have waited another 2 weeks but was not paying attention.

It's clear my attitude toward money and housing is a good deal different from yours. There's no way I would have preferred to live in an apartment than a house. Dear God, having some festering college student just a thin wall away from me would have driven me mad.