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Old 03-22-2020, 12:55 PM   #21
I Think We're Lost!
 
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Perhaps this would be a good time for you to, "cross the finish line", and start enjoying what you so richly deserve...
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Old 03-22-2020, 01:11 PM   #22
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I do not have much exposure in stocks. Most were converted to cash accounts before retiring 2 years ago. Now after 2 years of real retirement, the stock accounts will likely still be there. The market will recover with time. I retired at 59. Worked past 55 to put a little more away. I did not need to, that along with was in stocks will likely go to kids/grandkids.

We are not rich, but not poor either. I race as much as I can and have offset enough with prize money that race budget is fat.

The current situation is just a big bump in road. Unless you need money from stock accounts in short order give no more thought.

All be safe. Is a pain being sequestered, but I guess is better than croaking.
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Old 03-22-2020, 02:19 PM   #23
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I don't put much 'stock' in the stories of these senators who 'supposedly' are being accused... it's just another case of having to have something to 'report' for ratings. These accounts are typically not traded one-off, but are in accounts where they are part of 'regular' trading that has to do with market conditions, and certain procedures designed well before any of this 'news' came to light, or anything that would be considered information that could have been 'absolute' to some type of severe economic downturn.
It doesn't mean that they even sold 'all' of any certain stock, but only that they were accused of 'selling' some specific stocks - which could be 100 out of their 1000's, or only several thousand dollars out of hundreds of thousands of dollars in an account. If you had sold some on that same day, you'd be quite happy, but somehow someone who just happens to be in a position where they can be accused of something underhanded, they're just out of luck?

We sometimes want to jump on the bandwagon before true facts are revealed.

I had a customer several weeks ago, the first few days when the market really started to take a turn down, who had just put a contract on a half-million dollar home. Her question, out of the blue, was "where did all my money go!??"... and that was just the first day.
My question was "when will you be withdrawing some of this 'money'?"... it's their 'retirement 401k account', and it won't be for many years... so, no, while it 'hurts', at least on paper, and just like back in 2008 when the hedge funds, insurers, and even banks were on the brink of 'failure', we know now that it would have been a good time to relax, relieve your internal pressures, don't look at your statements, don't watch the 'negative' news 24/7, and go about your business - even if it never gets 'back' to what it was, chances are, you'll still be in good shape, regardless - and you'll be happier for not 'worrying' about it during this time.
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Old 03-22-2020, 02:23 PM   #24
I Think We're Lost!
 
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As far as those Senators: the optics look horrible; but it's best to let the investigative processes do their thing.
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Old 03-24-2020, 08:00 PM   #25
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I put my RMDs in a special account at my credit union. Now with the stock market dropping like a rock I've started transferring it little by little into a conservative fund that is about 60% bonds. Its a great time to buy and a lousy time to withdraw.

As for the senators - and the media - they all have an agenda.
News is seldom complete or honest. Senators are so used to talking without saying anything I pay them little attention and less credibility. It's all a big power game at yours and my expense.
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Old 03-24-2020, 08:22 PM   #26
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We are down about 30%. Had hopes of retiring in 3 years, now might have to wait 4-5.

Jeff
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Old 03-24-2020, 08:27 PM   #27
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As a general rule, one should move their money out of equities and into bonds, or bond-like, investments based on a combination of your age and risk tolerance. Index funds are a good option to broaden exposure.

Most (not all) advisors will encourage some exposure to stocks, reducing those holdings as the time to recover becomes less (i.e. your age and/or employment status). Right now is the worse time to sell. My personal take is to sit tight on the 401k and play my hand with other tools.

Please note: this is my experience in dealing with them and is not investment advice. It prompts the question and encouragement to dig deeper. Diligent research always considers more than one source. Good luck.
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Old 03-24-2020, 09:45 PM   #28
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IMO. As soon as you see the curve start to flatten invest invest what you can. It may not be a U but a V bounce.

But ..... your situation or tolerance may differ
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Old 03-24-2020, 10:29 PM   #29
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Originally Posted by Wonderdog View Post
I put my RMDs in a special account at my credit union. Now with the stock market dropping like a rock I've started transferring it little by little into a conservative fund that is about 60% bonds. Its a great time to buy and a lousy time to withdraw.

As for the senators - and the media - they all have an agenda.
News is seldom complete or honest. Senators are so used to talking without saying anything I pay them little attention and less credibility. It's all a big power game at yours and my expense.
One thing about all this your RMD will be ALOT smaller this yr
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Old 03-24-2020, 10:49 PM   #30
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Originally Posted by The_Breeze View Post
As a general rule, one should move their money out of equities and into bonds, or bond-like, investments based on a combination of your age and risk tolerance. Index funds are a good option to broaden exposure.

Most (not all) advisors will encourage some exposure to stocks, reducing those holdings as the time to recover becomes less (i.e. your age and/or employment status). Right now is the worse time to sell. My personal take is to sit tight on the 401k and play my hand with other tools.

Please note: this is my experience in dealing with them and is not investment advice. It prompts the question and encouragement to dig deeper. Diligent research always considers more than one source. Good luck.
I changed to 50/50 stocks and bonds last week.

Jeff
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Old 03-24-2020, 10:55 PM   #31
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I changed to 50/50 stocks and bonds last week.

Jeff
What type of account?
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Old 03-24-2020, 11:03 PM   #32
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What type of account?
vanguard deferred compensation account.

Jeff
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Old 03-24-2020, 11:12 PM   #33
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vanguard deferred compensation account.

Jeff
Nice. I have their Index 500 fund for an IRA (VFIAX). The performance has been nothing less than stellar. I rolled a 401k back in 99 - a142% gain and 9.3% annual return. I don't update the numbers until EOM and expect a slight decline when I do. EOM is only 6 days away.
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Old 03-28-2020, 06:32 PM   #34
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You probably know by now and it may not affect you but the RMDs for this year are not required. Also, there were 3 senators (Richard Burr of North Carolina, Kelly Loeffler of Georgia and James Inhofe of Oklahoma) who were Republicans and 1 Democrat (Diane Feinstein).
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Old 03-28-2020, 06:35 PM   #35
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You probably know by now and it may not affect you but the RMDs for this year are not required.
I did not know this. It doesn't affect me yet but affects my parents.

Where is the authoritative source of this information please? Thanks.

p.s. Disregard. I see it on p. 50 under SEC. 2103. SPECIAL RULES FOR USE OF RETIREMENT Subsection under DEFINITIONS.
"(A) CORONAVIRUS-RELATED DISTRIBUTION.—Except as provided in paragraph (2), the term ‘‘coronavirus-related distribution’’ means any distribution from an eligible retirement plan made— (i) on or after the date of the enactment of this Act and before December 31,2020..."
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Old 03-28-2020, 06:48 PM   #36
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Since everyone these days seem to disagree on what are good news sites I am listing 3. Hope at least one works for you :-)
https://www.forbes.com/sites/ashleae.../#11a50ef42cb6

https://www.cnbc.com/2020/03/27/wait...ou-a-pass.html

https://www.kiplinger.com/article/re...-your-rmd.html
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Old 03-28-2020, 08:07 PM   #37
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Never expected this but when the DOW hit 27,500 I suggested my daughters call their 'advisor' and consider going into a money market. My thought is there would be a small recession if Trump re-elected and a huge one if Biden or Bernie got in by accident. Their advisor suggested they stay and he had XX years of experience. Daughter #1 told him "my dad has been doing this since before you were born, we do as he suggests". Not that I'm good but was darn lucky on that call. Our income without 401/IRA is net over $10k monthly. Too old to wait a rebound. Been into CDs and cash for 15 years, retired 17.
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Old 03-28-2020, 08:36 PM   #38
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Unfortunately, asset allocation gets too little attention by many investors and advisors. No matter how many times we go through significant selloffs, many investors get caught too heavily invested in equities. They and their advisors didn't adjust as they approached retirement to protect growth earned in the good times.
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Old 03-28-2020, 08:44 PM   #39
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And on a more positive note, if you can reach your brokerage account, it's a good time to start researching buys. Book-to-value ratio and PE over the last 12 months.

Significant losses sometimes lead to significant gains.
Yep we have lost some but now our Broker is cherry picking the stocks that want us to have so while the market is low, we are actively buying stocks with companies who will be key in the recovery. I encourage everyone NOT TO SELL completely since there will be a recovery once this has passed. All in all, our retirement is stronger than it was when we started and most of our losses was from the huge gain we received once the company started benefiting from Trump's Presidency.
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Old 03-28-2020, 08:47 PM   #40
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Down but not out

It’ll be back, you dont lose til you sell..
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