mopowers
Well-Known Member
Hey, I meant no disrespect. If that $55k is a small percent of your retirement portfolio, why would that change anything? Plus, like dadsbee said, you didn't lose $55k unless you sell when it's down.
I just got the nod from our financial advisor, and....
- Thread starter ProjectBazza
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Agreed, and point taken, but we're not moving or selling anything.
But here's the deal (and I hate sharing this so publicly): I was adopted at birth, and a healthy and long life isn't exactly a "thing" in my birth (genetic) family, as I will have outlived both of my birth parents in only a few short years. My adopted parents, on the other hand, are 88 and 90, and sometimes I wish I had their genes.
I've always loved, and agreed with, your signature/tag line, and I was hoping to start living my life to it's fullest this spring (Memorial Day weekend, May 23rd). But now...who knows?
Well,,,,markets always go up and down,,,always have .
Maybe he’s not quite ready to retire after all .
You have nothing to apologize for,,,,he’s crying about losing some money and now the sky is falling and Medicare isn’t even going to be around !
My goodness,,,,,we have all lost money recently,,,if you are in the market .
And it will come right back as soon as the market recovers,,,,,with more than is in there now .
All of these tariffs are going to end the world,,,,,,so says our friends to the North .
The only people I ever hear crying are the ones that are in on it to start with .
7 figures in the bank is pretty darn good,,,,get into the classic car business and you will be down to 6 figures after a while .
Tommy
Maybe he’s not quite ready to retire after all .
You have nothing to apologize for,,,,he’s crying about losing some money and now the sky is falling and Medicare isn’t even going to be around !
My goodness,,,,,we have all lost money recently,,,if you are in the market .
And it will come right back as soon as the market recovers,,,,,with more than is in there now .
All of these tariffs are going to end the world,,,,,,so says our friends to the North .
The only people I ever hear crying are the ones that are in on it to start with .
7 figures in the bank is pretty darn good,,,,get into the classic car business and you will be down to 6 figures after a while .
Tommy
HEY.. ya never know! As you know I lost a Daughter at 30. My old man kicked the can at 59, my kid sister at 49. My older sister had a quad bypass at 52 and made it to 68. My Brother had a quint at 54 and is hanging in at 70. I'm gonna be 63 next week and have had zero health issues in my entire life. The goal is to beat them all and go out broke !
Oh, and lets leave politics out of this....
I'm trying! I really am trying to live my life to the fullest, and take this all with a grain of salt, but as my wife puts it: I don't have a "glass half-full" outlook/personality, and **** like this (having my retirement plans put on hold) really pushes my buttons.HEY.. ya never know! As you know I lost a Daughter at 30. My old man kicked the can at 59, my kid sister at 49. My older sister had a quad bypass at 52 and made it to 68. My Brother had a quint at 54 and is hanging in at 70. I'm gonna be 63 next week and have had zero health issues in my entire life. The goal is to beat them all and go out broke !
Yeah, I opened up that can of worms, and now I'm very sorry that I did. I just needed to "vent", and for more reasons than are apparent here.
My apologies for that.
Na, it wasn't you! It was someone else blaming "those to the North" for crying. Some of us are smart enough to see shat coming, I pulled my yearly amounts at the peak before the swearing in... lol
lol,,,,,I stated our friends to the North !
And I only typed that because of his prior comment,,,,Understand.
If you’re going to blame someone,,get it right .
And after all the booing recently,,,,I’m being facetious when I state friends .
Tommy
And I only typed that because of his prior comment,,,,Understand.
If you’re going to blame someone,,get it right .
And after all the booing recently,,,,I’m being facetious when I state friends .
Tommy
Scody21
Just send it
Should look into some Tax Avoidance strategies. Search the subject on the IRS website, it shows ways to reduce your tax liabilities….
Or look to precious metals. With the volatility and economic uncertainty its risen to record heights and doesn't look to be stopping soon. I bought a bunch in 2000 when it was $275. kinda nice saftey net.
Cool !I can officially retire whenever I feel like it! Or perhaps more correctly, I can afford to retire...
Which is kind of a weird feeling....
But I'm at this weird "transitional period" (my term) where I can pull from my finances (over 59-1/2), but I'm too young to go on Medicare, and since I need health insurance from somewhere....
Lots of things to consider.
But that's not going to stop me from celebrating!
It can be a slippery slope and wish I was wiser way back , shoulda, woulda coulda on so many fronts LOL
Ah the hogwash about something being down 55K and it's not a loss because you didn't sell. Absolute BS sold to you by the brokerage houses/advisor industry. Some dipshit reporter on CNBC said that on Friday as well.
Buy stock worth 100K, it falls in value to 50K, try to get a loan against that asset for the 100K because, "you don't have a loss..." Good luck with that one. You'll get laughed out of the building.
The ONLY place that thinking is relevant is in realization of the loss for tax purposes. Regular investors have to finalize the trade to realize the loss unless you are "Mark to Market" recognition. Otherwise, if your net worth/equity/balance sheet are impaired from a fall in the stock market, YOU HAVE A LOSS at that point in time from peak value, etc.
Bazza, if you are under 60, don't sweat this stuff right now because you are still in a longer term horizon. Being down 55K on a 7.+ figure portfolio is better than the markets as a whole, NAS -14%, Dow -10%, SP -10%. Look on the bright side.
All the inflation stuff the last few years and the new "china trade good/bad" this years version going on is crazy. Some has been in the hopper for a long time. There is a huge reason that inflation was understated every year, think COLA...
Also, JMO, this is all a play to force the hand of central banks to lower rates so the US can refinance debt at more favorable rates. Just a WAG.
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mopowers
Well-Known Member
What went through my mind was, if a regular ol' market correction is the difference maker for whether one can retire or not, than the person wasn't ready for retirement to begin with. A $55k "loss" should be a drop in the bucket for an adequate retirement portfolio.
He's down less than 5.5% on a million plus portfolio. Dow/SP are down 10%. Doing OK to me, but not my $. I agree, take a breath, don't panic. Nobody knows where it's headed next, long term the slope is almost always up over a 5 year period.
55K... try losing 250-500k+ in a day. We did that a few times in the 40+ million trade shop. LOL Also made some huge gains in a day as well.
The psychology of loss effects everyone a little different.
My commentary is not a dig at anyone on this board either. It's similar to red herring stuff in the mopar world, 741 cases are weak because of pinion bearings, intake manifold port window size 273/318 on a 340/360 head on streeters (then the person proceeds to suggest an alum intake (stealth) with a 273-318 window
), etc.
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