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Unfortunately many of us have missed the good fortune the last month has given many of us. If you have equity investments a pension or government services that benefit from tax revenue be thankful. Other than bonds it has been a good time for retirees and near retirees.
They have all benefited from the stellar stock market performance and all that I mentioned will benefit from what is appearing to be a successful 2016. I am sure pension fund managers regardless of ideology are happy and I know my portfolio could care less. Yours doesn't does it?
Are people who benefit from fully appreciative of our good fortune, regardless of the reason?
My 401K portfolio has surged 39% since the election, I can't remember as big a bounce in the 15 years I've been contributing to it. I dumped all my company stock and other holdings into bonds and equities just a couple weeks after that incredible gain. I was waiting for the market to "correct" and my company stock to go down again to where it was but it has held steady at the price I sold at, which is amazing, as the long term sales forecast is for another down year.
The market surge has certainly lifted my spirits but I'm not so sure that I am appreciative. Like many I was in shell shock after the election results and depressed for a couple of weeks. Spending Thanksgiving week with my brother who is very business oriented and has a high opinion of the new administration gave me some hope that Trump would not be a big disaster. But the selection of his cabinet members and the recent announcements on social security, medicare, ACA, etc. are troubling. I'm in a better financial position than most retirees but many of my friends and family members are not so well off and struggle to make a living and obtain health care. I see dark times ahead for them. So I feel somewhat guilty about my gains as if I'm benefiting at the expense of others, the environment, women's rights, etc.
Totally understandable and rational, as well as compassionate on your part. Good on ya.
We tend to give out most of our charitable contributions this time of year. I made several donations yesterday. We gave out a lot more than we typically do, partly to balance what we feel is going to be hard times ahead for the disadvantaged in society and the many organizations that are trying to make the world a better place. For instance, the President-elect said he wants to bring back torture, so I gave a bunch of money to Amnesty International.
That's great, I really like hearing stories like that, especially this time of year. Good on ya.
Unfortunately many of us have missed the good fortune the last month has given many of us. If you have equity investments a pension or government services that benefit from tax revenue be thankful. Other than bonds it has been a good time for retirees and near retirees.
They have all benefited from the stellar stock market performance and all that I mentioned will benefit from what is appearing to be a successful 2016. I am sure pension fund managers regardless of ideology are happy and I know my portfolio could care less. Yours doesn't does it?
Are people who benefit from fully appreciative of our good fortune, regardless of the reason?
The last month of the market returns are almost inconsequential compared to the last six years. I’ve been feeling good for at least that long. As a retiree, I’m not sure what the future will hold. However, I’m almost positive interest rates will go higher, and the reason I’m out of most of my bond positions.
If the new administration increases military and infrastructure spending, they will need to borrow money, thus an increase of the depth.
The poor will remain poor and the wealthy will remain the same, and I will receive a share of it. The feeling of exuberance is merely psychological.
except if you just retired and spending down , last year we burned principal right out of the gate and this year was on track to just be under to breaking even what we spent again so this sudden burst was definitely welcome and needed .
burning principal before an up cycle when you first retire is not good .
Exactly right. The Dow has more than doubled during the Obama administration when none of that republican agenda was in place.
I'm pleased with the rally that was predicted once the election was over regardless of who won.
I think you must be reading fake news. Talking heads have been predicting a stock market crash for Trump, the evidence was the *** was down nearly 800 points on election night.
except if you just retired and spending down , last year we burned principal right out of the gate and this year was on track to just be under to breaking even what we spent again so this sudden burst was definitely welcome and needed .
burning principal before an up cycle when you first retire is not good .
I still have anxiety about sequence of events that might affect return. I have not touch my retirement money yet.
I think you must be reading fake news. Talking heads have been predicting a stock market crash for Trump, the evidence was the *** was down nearly 800 points on election night.
well yes some "talking heads" said that but the financial people I read said what they always say about an upcoming election - that the markets don't like uncertainty. That there would be an end of year rally.
I still have anxiety about sequence of events that might affect return. I have not touch my retirement money yet.
I’ve been taking RMD every month, and will need to withdraw an additional $24K by the end of the year.
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well yes some "talking heads" said that but the financial people I read said what they always say about an upcoming election - that the markets don't like uncertainty. That there would be an end of year rally.
