Is anyone rich here?

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44070dart said:
I've bailed out on my investments from the market, can't take the bullshit any more. Goes down a thousand today because some guy wasn't hired, up 400 the next day because he found a job. I took my funds out, and laddered CD's a few months ago, and now I sleep well. May not end up making a lot but the principle is going to be there. My wife has a retirement 401 and I wanted to do that for her, but she was not sure (because overall it has done well). That 1000 point blast the other day shook her, so I'm looking to also get half of hers into CD's in her 401. We're in our 70's, and have been in almost 30 years, done fairly well for our blue collar bracket, so who needs the bouncing around now at this time of life..

If it were easy, or there were a set formula, we would all be wealthy. Caveat emptor ! ....................... All that really matters, is right here.

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Yes,,,,when you reach your age,,,,you should consolidate into a safe investment if at all possible .
Do a little at a time,,,,,transfer the funds to safe and guaranteed investments .
Or do it around each quarter,,,,timed with the upside of the market
Yes,,,it won’t make much money,,,,but at least it will be safe !
Even in 401Ks,,,,they recommend to do this,,,,at least our fund did .
It said to go from aggressive or mild risk to safe ,,,,makes sense to me .

Because,,,,when the market goes crazy and drops badly,,,you won’t have enough time to recoup your money .

Tommy
 
CFD244 said:
Be careful of those bearing gifts with offers of high return rates. There's no easy way (fast way) unless you get lucky. And, luck is not the strategy I would want to rely on in this stage of life. Good luck.
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If I sold everything to a single pot? I might get to $1 mil. (Probably short of that mark, as usual. Lol)

Then put it all on 31 black in Vegas! Then I would consider myself rich, or broke. Either way? Question is answered.
 
AndyF said:
You have a really tough road ahead of you but it is better to start now than to not start at all. The best answer over the last several decades has been to invest in low cost index fund. The best index fund for you is probably a S&P 500 fund but there are other ones. It is important to only buy a low cost fund from a highly reputable firm. I recommend Fidelity but check to see what is available in your area. You should stay away from anyone that wants to charge you 1% or 2% fee every year to "manage" your money.
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X2.

You never told us what you are doing - 401k, IRA, HSA? Do you have a pension?

Start researching what you’ll need in retirement. Use current income as a basis minus your expected SS income. There are some simple rules out there that will get you close. Like some else said, you’ll need a handle on your expenses too. I think you’re going to need to get pretty aggressive. Being conservative in your investing now will hurt you a bunch.
 
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