Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I was in equities in 2008 and I retired in 2010 (at age 54).
My portfolio is higher today than it has ever been,
Mathjack and I have also been in these forums several times this year remarking that our net worth is at all time high, that is what is so hilarious about the notion of Texas User making financial decisions based on other people who made poor ones by bailing on equities.
If you stayed the course, it was a bigass 2 year blip on the radar.
Other people making poor decisions with their asset allocation is hardly a compelling reason for you to make similar ones. Who cares if they bailed out when they shouldn't have, you don't have to.
No, they shouldn't have. They would have locked in their losses and missed the ensuing once in a generation runup in equities.
Not me, others. They bailed out of fear and uncertainty.
2008 crash was THE opportunity for people to buy as much as possible at a cheaper share.
You just have to closely watch your portfolio in this volatile market. Make lots of tweeks.
Because of Obama, our taxes have gone down and we now have affordable Obamacare.
Savings account Interest rates were as high as 6% in 2007.
You have to do your homework for low cost investments.
The problem is the consumer. Stop spending and you will be ok. Live below your means and you will be wealthy.
Quote:
Originally Posted by NHartphotog
During the 1980s and 1990s, there was much financial discussion about how nobody could retire on savings alone. You had to invest early and wisely, use the power of long-term compounding, and plan ahead. I wonder what the current advice is now from financial planners, given the "new world" we now live in? How are we supposed to deal with these changes:
--Pensions will soon be totally gone in private-sector employment (and can legally be voided at any time by a simple "change of control").
--Social Security benefits will be minimal, if anything, for those born after 1960 (the Trust Fund has been spent and is now EMPTY).
--Wages stagnated in the 1970s, and opportunities for promotion and advancement have been extremely limited ever since.
--The work week is now 80 hours a week for many corporate jobs, so extra jobs and part-time businesses are out.
--The number of jobs in America has continued to contract, while the working age-population constantly and significantly increases.
--Costs of benefits, like the skyrocketing cost of health care and insurance, have been increasingly shifted to employees.
--The dollar is being massively devalued by the Fed, so every dollar saved is worth less and less every year.
--Cost of living increases every year, governments at all levels are taxing to the maximum.
--Interest rates have been kept at near-zero levels for decades now, since excessive government borrowing requires minimal interest rates.
--Any investments available to the Middle Class are full of costs and fees, produce minimal returns and are at extreme risk of losing principal.
Mathjack and I have also been in these forums several times this year remarking that our net worth is at all time high, that is what is so hilarious about the notion of Texas User making financial decisions based on other people who made poor ones by bailing on equities.
If you stayed the course, it was a bigass 2 year blip on the radar.
They bailed out of fear and uncertainly. There has been a bull run in every bear market.
Look, what happened to folks in 2008 who were going to retire in 2009/2010. Lot of them probably stayed in equities and got wiped out.
Quote:
Originally Posted by MadManofBethesda
LOL.
I was in equities in 2008 and I retired in 2010 (at age 54).
My portfolio is higher today than it has ever been,
Quote:
Originally Posted by Texas User
Bull market did not start till March 9th, 2009.
Huh??
You made a statement about people who were in equities in 2008 and wanted to retire in 2009/2010 getting wiped out. I responded that I was one who was in equities in 2008, retired in 2010, and not only wasn't wiped out, but that my portfolio is higher than it has ever been. You then come back with a non sequiter about the bull market beginning in March 2009.
They bailed out of fear and uncertainly. There has been a bull run in every bear market.
then they belong in a bank not in equities. they need to cut their income expectations from their nest egg and only take relatively risk free chances if they have no tolerance for volatility.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.