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Old 08-27-2019, 05:51 PM   #21
I Think We're Lost!
 
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But sometimes: it's just more fun to face the music... and DANCE!
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Old 08-27-2019, 08:29 PM   #22
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Originally Posted by The Gritz Carlton View Post
You should seek out a better flock of friends. Quoting Dudley Moore from the original "Arthur"...."I wish I had a nickel for every nickel I have". Most folks I know are comfortably ready for retirement. I retired at 60...paid cash for my MH and could care less what it's worth in 5 years. The Boomers are the last of a responsible civilization and they had nothing to do with the home disaster in 2007. We/they were very comfortable in our nearly paid off mortgages.
Well said
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Old 08-27-2019, 08:30 PM   #23
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And by TV networks, celebrities, and politicians “wishing” for a recession to forward their own personal and political goals.
That alone is truly sad and should make us mad
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Old 08-27-2019, 08:35 PM   #24
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That alone is truly sad and should make us mad
I concur....
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Old 08-27-2019, 09:56 PM   #25
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It is like investing in the stock market. You have to wait it out in the long run.
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Old 08-27-2019, 10:48 PM   #26
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Originally Posted by Bob Denman View Post
But sometimes: it's just more fun to face the music... and DANCE!
https://youtu.be/HTBv4kAdk_w
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Old 08-27-2019, 10:59 PM   #27
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It is like investing in the stock market. You have to wait it out in the long run.
The market has become way too sensitive to politics. If you're near retirement or newly in it...move to secure, fixed income which offers great options and a good night's sleep. I did and really enjoy the free time I now have...not watching the market.
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Old 08-27-2019, 11:17 PM   #28
I Think We're Lost!
 
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Some seriously good music...
http://www.thorforums.com/forums/att...1&d=1566944193
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Old 08-28-2019, 01:11 AM   #29
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I expect concerns over economy may have affected recent sales, but I believe the RV industry as a whole has been pursuing short-term profitability at the expense of longer-term growth. If it wasn’t for super low interest rates, sales decline would have been far worse.

The following article on decline of boating ownership over time suggests to me that RV sales may be under pressure for similar reasons, and concern over economy doesn’t explain most of it.


https://rvbusiness.com/boating-indus...ner-attrition/
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Old 08-28-2019, 01:39 AM   #30
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My Financial Advisor told me the average Bull market lasts about 4.5 years. We have been riding this Bull market for close to 10 years. As someone already posted markets are cyclical and this Bull is running out of steam. When the markets pull back, and they will, it won’t be because a few talking heads or politicos wished for it. It will pull back because it’s due for correction. My Financial guy also said be prepared for a 30% to 40% hit. If you have the time to ride it out leave your portfolio be if not the time is now to get conservative in your investments. Most of us “ill prepared”baby boomers😉have already made the adjustment.
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Old 08-28-2019, 03:14 AM   #31
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My Financial Advisor told me the average Bull market lasts about 4.5 years. We have been riding this Bull market for close to 10 years. As someone already posted markets are cyclical and this Bull is running out of steam. When the markets pull back, and they will, it won’t be because a few talking heads or politicos wished for it. It will pull back because it’s due for correction. My Financial guy also said be prepared for a 30% to 40% hit. If you have the time to ride it out leave your portfolio be if not the time is now to get conservative in your investments. Most of us “ill prepared”baby boomers😉have already made the adjustment.
Well said, You have a very good financial advisor.
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Old 11-16-2019, 07:06 PM   #32
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For the nay sayers...

Notice this thread died in August...right about when the DOW started picking up again. Yesterday's close: 28004.8906
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Old 11-17-2019, 09:42 PM   #33
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Being financially independent and watchful over your "flock of dollars" at night doesn't make you a "nay sayer". It's just smart business. You just have to decide for yourself..."when is enough, enough". I'm there.
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Old 11-17-2019, 09:59 PM   #34
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Yep, for those of us retired its all about asset preservation. I shifted all my investients to lower yield safer ones when I retired. Both my wife an I are of a dying breed, we both have fixed benefit pensions, mine from the second largest Canadian telecom and hers sort of from the government (University Prof but her pension is government run). We live very cheaply in our RV in Mexico 6 months a year, our RV park fees paid for by an RV caravan company I do marketing & website for. We would stay here permanent if I did not have a handicapped son at home & I have an agreement with my ex to be home half the year.
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Old 11-17-2019, 10:49 PM   #35
I Think We're Lost!
 
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I've got it all figured out...
In my next lifetime: I'm gonna marry that beautiful, rich, mute nymphomaniac; whose Dad owns a liquor store!
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Old 11-17-2019, 11:40 PM   #36
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We don’t reward responsibility

As we reached Medicare age we have been inundated with higher Medicare premiums because of our higher income, and are going to be forced with more taxes when we reach minimum distribution. We already paid higher social security taxes our entire working lives. Meanwhile I have several relatives who have saved little to nothing and plan to live off system. They bought boats, trailers, etc. while we saved, saved, saved. If I could live my life over, I’d work and save less which explains why socialism will never work.
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Old 11-18-2019, 04:04 PM   #37
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I've got it all figured out...
In my next lifetime: I'm gonna marry that beautiful, rich, mute nymphomaniac; whose Dad owns a liquor store!
LMAO, ROFL
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Old 11-18-2019, 04:07 PM   #38
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Originally Posted by The Gritz Carlton View Post
Being financially independent and watchful over your "flock of dollars" at night doesn't make you a "nay sayer". It's just smart business. You just have to decide for yourself..."when is enough, enough". I'm there.
Standing right beside ya. Being watchful is not nay saying. Dispensing doom is. And while there were some scary moments, other economic indicators can be a better barometer of things to come than just market numbers. Those you describe above probably already know that.
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Old 11-18-2019, 04:28 PM   #39
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As we reached Medicare age we have been inundated with higher Medicare premiums because of our higher income, and are going to be forced with more taxes when we reach minimum distribution. We already paid higher social security taxes our entire working lives. Meanwhile I have several relatives who have saved little to nothing and plan to live off system. They bought boats, trailers, etc. while we saved, saved, saved. If I could live my life over, I’d work and save less which explains why socialism will never work.
If you think about how your SS benefit is calculated, you may recoup some of the SS tax as you begin distributions.

You didn't mention anything about having children. If you do and can afford to live without one of your investments, you could consider 'gifting' it to family. Check the laws in the state where you file your taxes to see if this is worth while. The Fed will get theirs no matter which state you live in but, if you pay state tax, it could make it a lot less worth while.

I'm not completely there yet and Lord knows things can change but...I may be able to live without my 401k or IRA (not both) so I will gift up to 10k/yr to my daughter who, because it's a 'gift' doesn't have to pay tax on it. Higher amounts start yielding tax paymants. If I'm forced into minimum distribution territory, I'll give her a little each year so she's not whacked with a inheritance tax when I leave this place.

It's important you consult a tax adviser, at minimum, and a financial adviser with a tax prep cert at best. I did and everything above is just one person's education and information gathering exercise to deal with the tax man.

I plan to live off the system. The system I created by going to work everyday, paying taxes and saving my money. I retired at 57. I will be able to sustain my way of life until I'm 72, all on after-tax dollars. My only enemy there is inflation and the value of ou currency. If the dollar falls through the floor, I'm obviously in trouble. The rest of my portfolio is as susceptible to market conditions as anyone else - even those that are 80% bonds or more. I still have some risk in my portfolio, running about a 60/40 mix on the risk side. As mentioned above, I have some time left to recoup most temporary market hits.
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Old 11-18-2019, 05:04 PM   #40
I Think We're Lost!
 
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State: New York
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Originally Posted by The_Breeze View Post
LMAO, ROFL
I'll see if she's got a Sister; that isn't too married for you!
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