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That's BS. Just because someone had money to buy stocks in 2009, doesn't make them rich.
I bought a boatload of stocks in 2009 (85% of my current holdings)... and I'm certainly not rich. I was informed by my advisers to pull out of the market for a correction.
Also, older people, those closer to retirement had money to buy into the market in 2009 because they were risk adverse due to the proximity of their age to retirement.
Either way... if you lost money in 2009, you certainly have made it back by now.
Depends on how much you invested in 2009 with Stocks. There are folks who made millions of dollar alone in 2009.
The correction period is the time to buy.
If you are closer to retirement then most of their money should have been in Bonds and Cash investments.
Location: Cleveland bound with MPLS in the rear-view
5,509 posts, read 11,875,397 times
Reputation: 2501
Quote:
Originally Posted by NJBest
That's BS. Just because someone had money to buy stocks in 2009, doesn't make them rich.
I bought a boatload of stocks in 2009 (85% of my current holdings)... and I'm certainly not rich. I was informed by my advisers to pull out of the market for a correction.
Also, older people, those closer to retirement had money to buy into the market in 2009 because they were risk adverse due to the proximity of their age to retirement.
Either way... if you lost money in 2009, you certainly have made it back by now.
Okay toolbox....if you had advisors you are NOT poor or middle class! My truck-driving uncle who makes $50K a year does not have a damn financial advisor!!! Many pundits said drop out of the market entirely and put it all in cash or gold -- who listened? MAYBE 1%, but that's a far cry from the actual number. IF you had cash in March 2009 you had little, if not borrowed, and yes, you made it back by now if you stayed in the market....
....and what do you think that means? I say the market is ripe for another correction -- do you truly think we are a stable economy or hark....growing? OMG, I'd bail out any funds I had in the market right now considering what's in store for us:
inflation adjustments (you can't lend a $trillion to give to banks who don't reinvest it in other borrowers and expect no inflation.....right?)
poor jobs reports
more real estae hardships/foreclosures
investment bank overspeculation
I'm not an advisor, investor or consumer (of stocks....right now), but this is what I see.
IFF you have money? Who had money in 2009? If you did AND you invested, you are rich, period. Everybody and their mother knew to buy stocks in March 2009....few people could, except investment banks (and we know what they do to contribute to society....).
Are we talking about funding 401K's and IRA's?
March 9th, 2009 was the bottom of the market. Are we talking about gaining a million bucks in 2009 alone? The market was bullish from March 9th to the end of the year and carried on.
Either way, even if you contributed a smaller amount, you gained quite a lot in 2009.
You don't need a FA. You can just do your homework online. Its free.
We aren't in a recession since we have 2+ quarters of positive GDP growth.
The problem is Greece debt right now.
If you are in it for the long-term. 5-10-15-20 years, why would you bail out unless you are retiring soon.
Quote:
Originally Posted by west336
Okay toolbox....if you had advisors you are NOT poor or middle class! My truck-driving uncle who makes $50K a year does not have a damn financial advisor!!! Many pundits said drop out of the market entirely and put it all in cash or gold -- who listened? MAYBE 1%, but that's a far cry from the actual number. IF you had cash in March 2009 you had little, if not borrowed, and yes, you made it back by now if you stayed in the market....
....and what do you think that means? I say the market is ripe for another correction -- do you truly think we are a stable economy or hark....growing? OMG, I'd bail out any funds I had in the market right now considering what's in store for us:
inflation adjustments (you can't lend a $trillion to give to banks who don't reinvest it in other borrowers and expect no inflation.....right?)
poor jobs reports
more real estae hardships/foreclosures
investment bank overspeculation
I'm not an advisor, investor or consumer (of stocks....right now), but this is what I see.
Location: Cleveland bound with MPLS in the rear-view
5,509 posts, read 11,875,397 times
Reputation: 2501
Read on Texas User.....also, take off the green shade of glasses you are wearing and try to read clearly what I'm trying to tell you: YOU CAN'T BEAT THE MARKET IN ITS OWN GAME!
Friendly advice, sincerely....I am not mad if you question what I'm saying, but I feel like I'm providing legitimate arguments to the table.
Location: Cleveland bound with MPLS in the rear-view
5,509 posts, read 11,875,397 times
Reputation: 2501
Quote:
Originally Posted by Texas User
You don't need a FA. You can just do your homework online. Its free.
We aren't in a recession since we have 2+ quarters of positive GDP growth.
The problem is Greece debt right now.
If you are in it for the long-term. 5-10-15-20 years, why would you bail out unless you are retiring soon.
Greece? Seriously? Right, because they are such a player in the market....
In the next 5-10 years I see our entire economy stabilizing....recovering from the aftermath of so many bad things/decisions. I can always find SOMEBODY who wants good money for more than 5% ROI.....at least, in principal I can.
Okay toolbox....if you had advisors you are NOT poor or middle class! My truck-driving uncle who makes $50K a year does not have a damn financial advisor!!! Many pundits said drop out of the market entirely and put it all in cash or gold -- who listened? MAYBE 1%, but that's a far cry from the actual number. IF you had cash in March 2009 you had little, if not borrowed, and yes, you made it back by now if you stayed in the market....
....and what do you think that means? I say the market is ripe for another correction -- do you truly think we are a stable economy or hark....growing? OMG, I'd bail out any funds I had in the market right now considering what's in store for us:
inflation adjustments (you can't lend a $trillion to give to banks who don't reinvest it in other borrowers and expect no inflation.....right?)
poor jobs reports
more real estae hardships/foreclosures
investment bank overspeculation
I'm not an advisor, investor or consumer (of stocks....right now), but this is what I see.
It's Sir Toolbox to you.
I said that I am not rich. I didn't say that I was poor. I'm only in my 20s, I haven't had enough time to raise any wealth worth talking about. If you're investing without proper guidance, the odds are probably not in your favor.
You can leverage each of those speculations you mentioned. Personally, I agree with only the inflation portion. Either way, I play it very risky due to my age so I can afford a correction.
Your truck-driving uncle has a job that cannot be offshored, good for him.
Nothing you posted supports that you had to be rich to ride the market up.
Read on Texas User.....also, take off the green shade of glasses you are wearing and try to read clearly what I'm trying to tell you: YOU CAN'T BEAT THE MARKET IN ITS OWN GAME!
Friendly advice, sincerely....I am not mad if you question what I'm saying, but I feel like I'm providing legitimate arguments to the table.
You can depending on when you got it and when you got out but in the very long-term timing does not matter.
Greece? Seriously? Right, because they are such a player in the market....
In the next 5-10 years I see our entire economy stabilizing....recovering from the aftermath of so many bad things/decisions. I can always find SOMEBODY who wants good money for more than 5% ROI.....at least, in principal I can.
Have you been following the market news lately especially the Greece crisis?
I said that I am not rich. I didn't say that I was poor. I'm only in my 20s, I haven't had enough time to raise any wealth worth talking about. If you're investing without proper guidance, the odds are probably not in your favor.
You can leverage each of those speculations you mentioned. Personally, I agree with only the inflation portion. Either way, I play it very risky due to my age so I can afford a correction.
Your truck-driving uncle has a job that cannot be offshored, good for him.
Nothing you posted supports that you had to be rich to ride the market up.
Thats right you and I can afford multiple bear markets. The Bear market benefits us due to dollar cost average.
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