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moblin

Member
Oct 25, 2017
2,107
Москва
Who has a retirement plan these days
An increasing number of Americans.

M2GWL3YDCY25NPOTFWPIJHG6PU.jpg


It's not just the ultra-wealthy who benefit from a strong economy and strong domestic and global market performance.
 

Ikuu

Banned
Oct 27, 2017
2,294
Yeah I should find a financial adviser to talk to. The anxiety thing isn't a factor for me, I am mostly a hands-off person when it comes to that stuff and will likely forget about it for a while. I think we have a stock/financial thread so maybe it's best to ask questions there. Thanks for the responses though!

You don't need a financial adviser, just take the time to research it yourself.
 
Oct 25, 2017
2,645
Stock market permormance is directly tied to everyone's retirement plans, so it's not just « the rich », it's workers, families, retirees, etc.
Something like 40% of Americans don't have any retirement.

An increasing number of Americans.

M2GWL3YDCY25NPOTFWPIJHG6PU.jpg


It's not just the ultra-wealthy who benefit from a strong economy and strong domestic and global market performance.

Oh dang I actually underestimated how many people don't have retirement plans.

The "Fuck you. Got mine" from financially comfortable people on this forum is noxious.
 
Feb 3, 2018
1,130
Every single economist seem to agree the good times will last for a little while but then the crash will happen a recession will happen the question is not if but when.
 

Parch

Member
Nov 6, 2017
7,980
We put way too much of our net worth into homes.
Definitely. That would be my biggest regret. With the stock market being so good for a decade, tying up debt in a mortgage was a mistake.

The early craving to own a home is a bad move. It's a huge amount of debt that should be going to investing. When you're just a couple starting out, what are you doing living in a 3 bedroom house? You lack the flexibility if you need to move. You're at the mercy of the real estate market. There all sorts of additional costs like maintenance and taxes. The early obsession with owning a home is a major mistake too early in life.

People take on way too much debt. When you want something, you save for it. And the best way to save for it is to invest. Puting the minimum downpayment on a mortgage is one of the dumbest moves you can make. Credit card debt tops the list of dumb moves. The banks sure love it. That's why they're so eager to give you a mortgage and credit cards.

Avoid debt. Live within your means. Stop giving your money to banks.
Invest early and regularly. Once you get in the routine of investing a bit each month, it has little effect on your lifestyle and makes a huge difference for your retirement.
 

Mcfrank

Member
Oct 28, 2017
15,219
Definitely. That would be my biggest regret. With the stock market being so good for a decade, tying up debt in a mortgage was a mistake.

The early craving to own a home is a bad move. It's a huge amount of debt that should be going to investing. When you're just a couple starting out, what are you doing living in a 3 bedroom house? You lack the flexibility if you need to move. You're at the mercy of the real estate market. There all sorts of additional costs like maintenance and taxes. The early obsession with owning a home is a major mistake too early in life.

People take on way too much debt. When you want something, you save for it. And the best way to save for it is to invest. Puting the minimum downpayment on a mortgage is one of the dumbest moves you can make. Credit card debt tops the list of dumb moves. The banks sure love it. That's why they're so eager to give you a mortgage and credit cards.

Avoid debt. Live within your means. Stop giving your money to banks.
Invest early and regularly. Once you get in the routine of investing a bit each month, it has little effect on your lifestyle and makes a huge difference for your retirement.

This is a quality post and I hope younger people read it and listen to it.
 

Biggersmaller

Banned
Oct 27, 2017
4,966
Minneapolis
This along with lower unemployment, higher wages, record high economic metrics for POC/women, and lack of inflation will lead to a Trump re-election. It's a lock unless we experience another 2008. Mueller could find Trump guilty of high treason and it would make no difference.

I shouldn't hope for a market crash, but it makes me very depressed how happy my MAGA brother is with news like this.
 
Oct 25, 2017
955
if the stock market is going to tank I would prefer that it do so in a few years when i'm done paying roughly 20k/year in childcare costs and can funnel that money into the market instead.

TBH even if it's a historically long bull market there is no point in trying to time the market if you're in for the long haul.
 

hurlex

Member
Oct 25, 2017
3,143
This along with lower unemployment, higher wages, record high economic metrics for POC/women, and lack of inflation will lead to a Trump re-election. It's a lock unless we experience another 2008. Mueller could find Trump guilty of high treason and it would make no difference.

I shouldn't hope for a market crash, but it makes me very depressed how happy my MAGA brother is with news like this.

Eh doubt it. Economy was good under Clinton and Obama, but it didn't help the next Democrat. People get complacent when things are going well.
 

PantherLotus

Member
Oct 27, 2017
3,900
The only people who should really be worrying, other than everyone on the planet, are people who are retiring in the next couple years and haven't switched to bonds yet.
 

julian

Member
Oct 27, 2017
16,786
were you asleep in 2007?

The market is up significantly since then, which was that user's point. Markets go up over the long term. Sometimes they have awful crashes, but if you don't panic and wait it out, they go back up.

It's not having a retirement plan. It's the complete lack of awareness for the existence people who aren't as privileged as they are and the mockery of impoverished people when they're brought up.

Who are you talking about?
 

Raven117

Attempted to circumvent ban with alt account
Banned
Oct 25, 2017
3,112
Yeah, it will go down...the numbers in my investment account will go down. I am staying put over the long run.

That said, lots of the headlines and such are starting to sound like 2007.....
 
Nov 1, 2017
1,020
Sounds like you have 25ish years before you need to be worried about whether the market is crashing or not.


Markets go up and down, and they crash. 2007 was hardly the first time. That's to be expected. In the long run they go up. Unless you were retiring in 2007 and saw the nest egg you were planning on using for the rest of your life get ravaged, there was no need to throw a tantrum.
Sounds like you have 25ish years before you need to be worried about whether the market is crashing or not.


Markets go up and down, and they crash. 2007 was hardly the first time. That's to be expected. In the long run they go up. Unless you were retiring in 2007 and saw the nest egg you were planning on using for the rest of your life get ravaged, there was no need to throw a tantrum.

There's no reason to throw a tantrum back then unless your house was foreclosed on or you were laid off. None at all. Everything's gonna be fine.
 

Deleted member 8561

user requested account closure
Banned
Oct 26, 2017
11,284
I dunno, you don't need to be snarky about it. I don't think it's a healthy way to go through life being terrified of a recession that is guaranteed to come between now and 40 years from now. Financially, the economy isn't a guaranteed penduluum either. The longest running bull market does not necessitate the longest running bear market. In my own experience, working in 2008 was a lot worse than working in 2018. Bankruptcies, layoffs, foreclosures, financial collapses, insolvency. That shit sucked. It's kind of nice that the financial news cycle isn't dominated by that anymore because that was a rough time.

One day a super volcano might destroy all of North America and plunge most of the Western hemisphere into generations of darkness, at least, that's what the Discovery Channel tells me, and living in incessant terror of that eventuality is a rough way to live through each day.

I think we've got, like, an addiction with negativity and I wasn't trying to give you advice, but rather, to counter-balance that addiction with normalcy. It makes sense to be negative to negative news -- which there is plenty of today. But there should also be a healthy skepticism towards incessant negativity. It's almost like the clickbait headlines dominate our thought process too, I could almost see this thread being written as one of those crappy stories at the bottom of a news article... "The economy is experiencing 24 consecutive quarters of growth, and here is why that should terrify you..." or what have you.

It's just how our monkey brains are programmed. Our ancestors who didn't constantly look out for danger weren't the ones who got to spread their spunk. Now, in the modern world, our brains are constantly looking out for bad news.
 

Exile20

Member
Oct 25, 2017
2,055
I am scared shitless. No matter what decision I make will be the wrong one. My luck sucks. If I sell it will go up 2 fold, if I stay, it will crash like a ton of bricks. No clue what to do.
 

reKon

Member
Oct 25, 2017
13,739
I'm concerned about the near future. My mom is going to likely retire in the next 4-8 years. She was required to distribution everything from her 401K just around the time of the market crash (personal family shit - it was messy...).

In no circumstances can this happen again in terms of timing of a market crash or I will lose my shit. I've learned r recently though that she's been way too conservative with he investment for the past 5 years so she's missing out on a ton of gains. I'd have to take a look at what the portfolio is made up of, but maybe this is actually fine?
 

bremon

Member
Oct 27, 2017
7,877
There's no reason to throw a tantrum back then unless your house was foreclosed on or you were laid off. None at all. Everything's gonna be fine.
From the point of view of someone investing long term , no, there wasn't a reason to throw a tantrum. I didn't say 2007 was a great time. Excellent reading comprehension and grasp of what "context" is on your part. People who's houses were foreclosed weren't in a great position to be investing in the first place. There's a reason people recommend an emergency fund before 401k and Roth IRA.
 
Nov 1, 2017
1,020
From the point of view of someone investing long term , no, there wasn't a reason to throw a tantrum. I didn't say 2007 was a great time. Excellent reading comprehension and grasp of what "context" is on your part. People who's houses were foreclosed weren't in a great position to be investing in the first place. There's a reason people recommend an emergency fund before 401k and Roth IRA.

Thanks for moving that goal post for me!
 

New Fang

Banned
Oct 27, 2017
5,542
I get so mad when I think about the fact that I didn't really begin investing in my 401K until a couple years ago. I just imagine if I had jumped in around 2010. :(

I'm on a good path now, but of course I do expect the market to hit a serious rough patch soon. It can't keep this upward trajectory forever. I would just love to known when to get out, and then jump back in 6 months later to ride the upswell again.
 

Doof

Member
Oct 25, 2017
4,434
Kentucky
I wish I had enough money to invest, but between student loans (and, you know, staying alive), I've got almost nothing.
 

bremon

Member
Oct 27, 2017
7,877
Thanks for moving that goal post for me!
Get some glasses so you can see where the goalpost was in the first place. The thread is about investing and the stock market, not "Era how secure is my job?" or "Era, how do I make mortgage payments with no income?" but at least you enjoy arguing in bad faith so are still getting something out of the thread. Fitting user name for the content of your posts in this thread.
 
Nov 1, 2017
1,020
Get some glasses so you can see where the goalpost was in the first place. The thread is about investing and the stock market, not "Era how secure is my job?" or "Era, how do I make mortgage payments with no income?" but at least you enjoy arguing in bad faith so are still getting something out of the thread. Fitting user name for the content of your posts in this thread.

You're getting off-track. I addressed your last portion of a previous comment that seemed dismissive over the effects of a disastrous market collapse. I'm not debating your market investment savi-ness but thanks for at least making some snip at my username or whatever.
 

Euler007

Member
Jan 10, 2018
5,045
Been investing since 2004, i'm 30% on the sidelines. Totally out of tech. Feel it's enough cash to pick some good stocks once people start jumping out of the windows.
 

Ayato_Kanzaki

Member
Nov 22, 2017
1,481
This is mostly due to Trump's removal of regulations, tax cuts, and low-priced oil.
So of course shareholders are in a good mood, and want to invest, which pull up the market. But that isn't a good thing. First, because those regulations were there for a reason, and that will have consequences in the future. Some people are litterally going to lose their lives over it. Others will lose their home, once the next bubble collapse. Same with the tax cuts.

And money that goes do dividends is money that doesn't go to the worker's wage, or investments for the company to grow or adapt. A Bullish market is a market where dividends are higher than usual.
 

bremon

Member
Oct 27, 2017
7,877
You're getting off-track. I addressed your last portion of a previous comment that seemed dismissive over the effects of a disastrous market collapse. I'm not debating your market investment savi-ness but thanks for at least making some snip at my username or whatever.
You're right, I'm sorry for being flippant and dismissive of your post, I shouldn't have been thin-skinned about it. I certainly didn't mean to say 2007 was a good time when you look at the average person, I worked in residential construction then. It wasn't fun. I solely meant from the perspective of an investor with 25+ years remaining before touching investment money. The overall effect of a market crash is a topic for another thread and certainly something the average person who has little in the bank and no investments has cause to be concerned about. Again, sorry for being snippy with you, there was no reason for me to get in a twist over your post.
 
Nov 1, 2017
1,020
You're right, I'm sorry for being flippant and dismissive of your post, I shouldn't have been thin-skinned about it. I certainly didn't mean to say 2007 was a good time when you look at the average person, I worked in residential construction then. It wasn't fun. I solely meant from the perspective of an investor with 25+ years remaining before touching investment money. The overall effect of a market crash is a topic for another thread and certainly something the average person who has little in the bank and no investments has cause to be concerned about. Again, sorry for being snippy with you, there was no reason for me to get in a twist over your post.

Its cool. I could have been a little more level-headed myself in my replies as well. No worries and I'm hoping you're doing better now.
 

Swig

Member
Oct 28, 2017
1,496
I have some money in a very volatile mutual fund. It does great in a bull market, but gets hit hard in a bear market. I've been stressing about whether I should move some of those funds over to an S&P 500 index instead. It's been very good to me for a while and I hate to give up potential returns (YTD return is almost 12% right now), but if the market goes into a bear market, i'll lose a lot.
 

Ether_Snake

Banned
Oct 29, 2017
11,306
Who has a retirement plan these days

The middle class.

« How was your weekend ? »

« Oh great, installed the pool, so the kids had a blast, and our dog too, even if it took a bit of time for him to get used to it. »

« MOGUL FAT CAT! »

And for those speaking of recessions, recessions are expected, the one in 2008 was a first since the great depression. Will we eventually have another major recession/depression? Most likely so, due to automation and high education requirements, but there's no point throwing yours hand up and bunkering.
 
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bremon

Member
Oct 27, 2017
7,877
Its cool. I could have been a little more level-headed myself in my replies as well. No worries and I'm hoping you're doing better now.
I stuck with construction for a decade and it's been up and down but being more frugal than when I was younger and trying my best to stick to good habits has gone a long way to help weather storms when work has been up and down. Unfortunately for many working people being frugal isn't enough when what you make barely covers a basic quality of life.

It's tough to know what to invest in, and most can't afford an advisor.
Average Joe in the Internet age is well-served by index mutual funds/ETFs off of low-fee accounts. Good habits are more important than hypothetical gains you missed out on by winning the lottery of picking individual equities from specific companies and being thoroughly diversified helps weather corrections in different markets.
 

Deleted member 1635

User requested account closure
Banned
Oct 25, 2017
6,800
Stock market for the most part just reflects rich getting richer. I wish it was used less in context of talking about the economy vs labor participation rate and % of families living below the poverty line.

No it doesn't... unless you consider anyone who invests in the stock market rich.

I can't invest in stocks because I work at a bank. :(

Otherwise, I think I would look into investing in companies involved in 3D printing.

There's no way this is true, right?

Something like 40% of Americans don't have any retirement.



Oh dang I actually underestimated how many people don't have retirement plans.

The "Fuck you. Got mine" from financially comfortable people on this forum is noxious.

Those people fucked up, but it was absolutely a choice (conscious or not). I know I fucked up by not starting a 401k until I was over 30 rather than way earlier when I first started my career. That's going to cost me 100s of thousands of dollars in the long run and I probably blew the money on games and pointless gadgets that were outdated within a year or two of purchase.

I don't have a fuck you, got mine mentality, though. I'm all for expanding welfare programs or even exploring guaranteed basic income as ways to make sure people don't go completely destitute and homeless as a result of their poor choices or lack of opportunities, or a combination of both.
 
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Ether_Snake

Banned
Oct 29, 2017
11,306
It's tough to know what to invest in, and most can't afford an advisor.

Just invest in a balanced ETF, if you are in Canada check VGRO or VBAL from Vanguard, it's just one fund, you can just dump money in when you have a sum large enough to do so. If in the US, check the other Vanguard ETFs, should be something similar. Takes like 2 minutes to buy or sell.

There's no need for an advisor if you stick to a simple investment strategy that favors balance and low fees, until your financial situation becomes more complex.
 

SaviourMK2

Banned
Oct 25, 2017
1,711
CT
THat's an interesting way to look at the 20th century. The generation that primarily fought Nazism and Fascism was also (generally) the generation that was the victim and "perpetrator" of the Great Depression and the ensuing Dust Bowl.

It's not unreasonable to believe if it it wasn't for the war things could've gone that way. Nazism had ideas that would've prevented things like the Great Depression. Don't get me wrong, I'm glad it didn't work out because it was just disgusting. To the citizens of the US who had no idea of things going on in Europe, it was still a fresh, revolutionary idea, especially to those who where burned by the promises of government who allowed them to grow up starving, jobless and those who felt the white male reign over their country was ending.
yeah the US was feverishly anti-communist and still had a communist party, but do you ever see communist events get this big?
https://www.vintag.es/2016/07/fascism-in-usa-pictures-of-american.html

And this happened in New York of all places. Just because we know what the Nazis where really like doesnt mean at one point it didnt seem appealing.