I am asking here as I assume there are a lot of people like me who are retired and dependent on whether the market goes up or down; so keep an eye on what is going on.
Does any one know what the "Ukrainian Globalist" is that referenced frequently on finical pages like?
Thank you. But you are the only ones I could think to asked this question.
Retired and dependent on whether the market goes up or down...... bad stratagy or situation even under good economic times. If you cannot afford to loose money in the market you should have no money in the market. I kept telling my sister and her husband that 2 years ago....now they wish that they had gotten out.
Gotto know when to hold 'm, know when to fold 'm, know when to walk away..... wait... there's a song in there somewhere...
Well, it would seem the the wrek is _way_ off any economics-related ng's; would seem logical to find one there instead for such queries...
I never heard of it; the posted link simply brought up a google chart for today's DJIA so don't know what you were looking at...
But, from the homepage it simply looks like a front for posting links/articles culled from other resources.
Don't have much interest in such apparently mindless 'bots posting links to everything they can crawl over...I use either the Morningstar or Marketwatch sites for routine info on what's happening daily but I don't obsess on short-term volatility.
Age and time in the market are essentially everything; unless you're day-trading or otherwise in a timing short-term deal it doesn't really matter much what happens day-to-day; all one might do is perhaps make some adjustments on watershed events -- I moved into other areas a high fraction of stocks/mutual funds after the first of the major financial failures simply because it was clear there was going to be a severe emotion-induced selloff at the least. I didn't expect the collapse any more than anybody else but certainly knew the reaction would be to cause a pretty significant pullback in the markets and there wasn't any sense in riding them down. I'm most back at the present w/ the runup--again, I didn't foresee just when the bottom really was but had a feeling that the panic had eased 12-18 months ago and started to re-enter the same places I had previously but back with a lower average cost basis than before. I don't have time (or, more accurately, don't want to take the time) required to watch or try to select individual stocks so that stay almost exclusively in mutuals except for a few no-brainers and a couple of mostly sentimental picks like former employer(s), etc.
Since most is in an IRA, there are no tax consequences to color the decisions; I haven't made an active trade outside the IRA funds in 15 years; I simply select what appear in my view to be reasonable mixes that are relatively low volatility but perform reasonably well in tracking the broader markets. While at traditional retirement age, am in good health so figure still have a pretty long time horizon to deal with in all likelihood. W/ that perspective, don't think one can afford to _not_ be in the markets w/ prudence.
--
"Robatoy" wrote
The story is that the song "The Gambler" was a common song among folks who worked bars, etc. It was a common song. But nobody recorded it. Kenny Rogers thought it was a good song and everybody kept telling him again and again that the song would flop. He insisted it was a good song and finally got it recorded. The rest is history. That song made his career.
If you have a 401k or are involved with a company provided pension you are involved in the stock market, whether you like it or not.
The only retirement plan that is not effected by the stock market directly is social security.
Well, you might want to do some research on that. Every 401k I have been in had both equities and fixed income options so if you didn't want to be in stocks you can just stay in the money market or other fixed instruments. Yes, the market is one of the factors that drives the base rates but it isn't volitile anything like the market.
You are not allowed to with draw your money and take a lump sum?
This seems to tell a slightly different story. His career took off long before '79/79, too. I saw him in concert in '72 or '73 and he wasn't a newb then.
"Allowed", yes...smart, very definitely not. Under age 59-1/2 there's both the tax (federal and state if applicable as ordinary income assuming it's pretax dollars going in) plus the 10% early withdrawal penalty. There are a few ways to get around the penalty but they are relatively onerous conditions to meet.
All in all, treating them as retirement $$ as intended is the smart choice and in that case starting young and using cost-averaging long-term strategy historically has yielded good returns...
--
...and like other investments, should be moved to more secure instrument mix as one nears retirement (when the money is needed).
Actually... I asked Mickey Newbury if that Patek Phillippe watch he was wearing was an antique or more contemporary. He told me that Kenny Rogers gave him that watch for writing Just Dropped In (To See What Condition My Condition Was In). It was a huge hit for Kenny's group The First Edition. (Jerry Lee Lewis had passed on that song) (Mike Post engineered it and Glen Campbell made those weird guitar sounds.)... but I digress...
That money can simply be rolled into an IRA you pay no tax initially.
Exactly.
"Growing up came quietly in the arms of Mabel Joy"
There is no penalty, that I know of, for a lump-sum distribution from a retirement plan. I had that option a few years ago (retirement #1 - I was 54). The numbers didn't add up though. I would have had to guarantee 10%, at least, to break even over the annuitized retirement. Taxes on the lump would have had to have been paid, of course.
The retirement "plan" is certainly affected by the stock market. My retirement check is not.
snipped-for-privacy@gmail.com wrote: ...
The question wasn't posed of a qualified fully-funded retirement plan but for a 401k. Retirement plans are different animuhls entirely.
--
Again, one has to factor in one's own tolerance for risk and evaluate the real cost of inflation on an acceptable rate of return over the expected lifetime in order to come to a specific decision individually.
As noted earlier, in a case of good health w/ a reasonable expectation of a possibly quite long retirement time, too conservative an investment too early could lead to early depletion of funds as well as too risky. For that reason, as also noted earlier, I've made very little change in the investment allocation at all since retirement as I figure I've still got a 20+ year time frame to go, retired or no.
Everybody's situation is unique to at least some degree so while there are some basic truths in the generalities, the devil is in the details for each situation.
--
The two are getting intertwined here. The question about a "lump-sum" distribution implied a qualified retirement plan, at least to me. Of course a 401K can be taken out in a lump. It's your money.
HomeOwnersHub website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.