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After a deep drop yesterday, the market collapse continues today.
Quote:
Stocks fell on Thursday, building on Wednesday’s losses after the Federal Reserve delivered another interest rate hike and signaled that no pivot or rate cut will come anytime soon.
The Dow Jones Industrial Average traded 273 points lower, or 0.85%. The S&P 500 and Nasdaq Composite slid 1.1% each.
Gotta wonder how other retires, with their life's savings tied up in investment savings, are enjoying the Biden economy? For others on this site-how much have your portfolios dropped? I'm down over 35% in the last year.
After a deep drop yesterday, the market collapse continues today.
Gotta wonder how other retires, with their life's savings tied up in investment savings, are enjoying the Biden economy? For others on this site-how much have your portfolios dropped? I'm down over 35% in the last year.
I'm down 17%. I refuse to work longer though, so my husband and I are actively seeking alternate countries to retire to where we can live for way cheaper. It would mean leaving our adult children and any potential grandchildren. This country is irreparably broken.
After a deep drop yesterday, the market collapse continues today.
Gotta wonder how other retires, with their life's savings tied up in investment savings, are enjoying the Biden economy? For others on this site-how much have your portfolios dropped? I'm down over 35% in the last year.
We manage my retired Mom's money. To try and offset the losses we've incurred in her investments, we've been dumping cash from her savings into some money market funds, which are up to 5.2% this week for 5 years. It won't cover the losses but it at least will help reduce it some.
I'm down 17%. I refuse to work longer though, so my husband and I are actively seeking alternate countries to retire to where we can live for way cheaper. It would mean leaving our adult children and any potential grandchildren. This country is irreparably broken.
I have lived overseas for near.t three decades and more than a dozen countries. Most places that you can afford have worse problems than the USA does. Usually if you want to live your current lifestyle they can actually be substantially more expensive.
Also they aren't like the USA where they let anybody in. There is a Thailand expat forum where all the people that are sick of Thailand scour the earth for a new place to live. The Philippines, Cambodia and places like Colombia and Peru come up again and again.
The conversations generally sound pretty desperate. Check out Panama. I would never live there but beggars can't be choosers and they are known to be expat friendly. I would worry if I leave I would not be able to make it back if I want to. I came back to the USA around 5 years ago. I was lucky as it wouldn't be as easy now.
I'm assuming the roads are all still paved with gold bricks in your dimension right now?
Quote:
Originally Posted by JenaS62
I'm down 17%. I refuse to work longer though, so my husband and I are actively seeking alternate countries to retire to where we can live for way cheaper. It would mean leaving our adult children and any potential grandchildren. This country is irreparably broken.
I know things have dramatically changed the past few years for the entire planet, but during the Obama years I researched this very thing in depth. Then Trump came along and I sort of drifted away from that idea. The best/cheapest places I found at the time were certain areas within several nations in South America (disclaimer is that I speak Spanish, so that was a factor as well). However, as I said, things have changed dramatically. I don't know how things are there now. But at the time, it was VERY appealing. Cost of living was very low and living conditions were good according to most people who moved to those places. There are also several areas/nations to absolutely avoid in South America. It's a mixed bag.
I'm assuming the roads are all still paved with gold bricks in your dimension right now?
I know things have dramatically changed the past few years for the entire planet, but during the Obama years I researched this very thing in depth. Then Trump came along and I sort of drifted away from that idea. The best/cheapest places I found at the time were certain areas within several nations in South America (disclaimer is that I speak Spanish, so that was a factor as well). However, as I said, things have changed dramatically. I don't know how things are there now. But at the time, it was VERY appealing. Cost of living was very low and living conditions were good according to most people who moved to those places. There are also several areas/nations to absolutely avoid in South America. It's a mixed bag.
Out of curiosity what countries in South America do you think are winners?
I have lived overseas for near.t three decades and more than a dozen countries. Most places that you can afford have worse problems than the USA does. Usually if you want to live your current lifestyle they can actually be substantially more expensive.
Also they aren't like the USA where they let anybody in. There is a Thailand expat forum where all the people that are sick of Thailand scour the earth for a new place to live. The Philippines, Cambodia and places like Colombia and Peru come up again and again.
The conversations generally sound pretty desperate. Check out Panama. I would never live there but beggars can't be choosers and they are known to be expat friendly. I would worry if I leave I would not be able to make it back if I want to. I came back to the USA around 5 years ago. I was lucky as it wouldn't be as easy now.
Panama is exactly where we are looking. They use the US dollar, have a pretty stable economy and government, are ex-pat friendly, reasonably cheap (compared to the US), public and private hospitals and very inexpensive medical care, discounts for seniors, etc..
**edit - Ecuador is another one we've been looking at. But Panama is at the top of the list due to how easy it is to get back to Florida.
Last edited by JenaS62; 11-03-2022 at 08:31 AM..
Reason: **edit - adding to post
Out of curiosity what countries in South America do you think are winners?
At the time, it was Uruguay (outside of the capital city--Montevideo--area) and the extreme south of Chile (as far south as Punta Arenas and Patagonia area) and Chile's coastal cities farther north. But, as I understand it, Chile has recently voted another socialist into the presidency, so... I'm sure it will go downhill there. I haven't even researched Uruguay lately. There have just been so many changes everywhere. So, at this point I'm just consigned to the fact that there is no running away, although I would probably still go to South America under the right circumstances.
I envy the draft dodgers who moved to Canada rather than serve in Vietnam. They never looked back. By now, they have grandchildren in schools where they don`t have to pass through metal detectors.
Labor productivity has declined at record pace. We're all paying more because of growing inefficiency and waste. A product of the leftist controlled education/indoctrination system, where results don't matter. But that's not how the real world works. The real world result of that is a reduction in the standard of living, and it's a long ways to the bottom... Unfortunately, that's where democrats have this ship headed.
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