Thor Forums

Thor Forums (https://www.thorforums.com/forums/)
-   COVID-19 Discussion Zone (https://www.thorforums.com/forums/f40/)
-   -   How's your 401K/nest egg? (https://www.thorforums.com/forums/f40/hows-your-401k-nest-egg-21091.html)

MJC62 03-21-2020 01:04 AM

How's your 401K/nest egg?
 
My "nest egg" for right now is cracked how's yours?
4 Senators (red & blue seems being a dirt bag has no party affiliation) received their Covid-19 briefings in early February before we the people knew the extent of how bad this was going to get. They then dumped their stocks in travel & hospitality before the market tanked. One even told his pals the impact of the virus was going to be worse than what was being reported at the time so they could get out. Does this surprise anyone?
Some overzealous prosecutor put Martha Stewart, Marta Stewart for God's sake, that criminal mastermind, in the crapper for basically doing the same thing. Do you think these "public servants" will even get censured, let alone see the inside of a courtroom? Or get anytime?
We are dealing with an unprecedented health crisis in the world and our elected officials are pulling sheet like this! :facepalm: Then the same a--holes get indignant when we don't believe anything they tell us!
I think I need a stiff drink though that ain't gonna help my blood pressure...

Jusjay 03-21-2020 01:10 AM

Pulled out last year, move some funds to estate and purchased more bullion. What I have left in the market is long term “grandkids” funds. So I’m letting those ride.
Those “public servants” who move millions just before covid 19 hit who had prior knowledge of the disaster coming should be prosecuted for inside trading.

ducksface 03-21-2020 01:18 AM

What they did was not insider trading.
One of them only traded 1/500th of their portfolio.
It's pretty sleazy but it's also pretty standard.

Way more facts and way less indignation needs applied to this news byte distraction.

And

No traditional investments for me. We're all cash all the time. Sure, it costs me a bit. I don't need the bit that comes with the potential loss of pets.com, kmart, Ford....
I'm way too skeered and I don't need the new hobby of constantly reviewing stats or whatever the stock guys do to amuse/torment themselves.

I have something somewhere in some 401k somewhere. It was one of those 'participate or we'll participate ya' 100% of our employees signed up woohoo!' things. We'll sort it out when they make us cash it out.

We don't count any asset in the black column until it has been converted to after tax cash in the bank.

Houses, cars, rv, art, collectables all have zeroes beside them.

So, no nest egg bust for us unless fdic shuts down.

GTM41261 03-21-2020 01:19 AM

Like most mine is in the tank. So much for retiring in two years. With all this bail out talk and sending everyone a check. Just make all 401K withdraws upto a $100,000 year tax free.

LandKO 03-21-2020 01:51 AM

Converted my 401k to an IRA when I retired years ago. But my holdings remained similar. They’ve taken a beating.
In January my financial advisor warned me we were due for a “market correction”.
Some correction uh?
Anyway I decided to put two years worth of Required Minimum Distribution in a cash reserve account that I can draw on without having to sell anything.
So hopefully, in two years time, the market will have recovered.
But, in the mean time, no major purchases.

sanjaun2 03-21-2020 01:54 AM

I got tired of losing all my money, Lost ton back in the early 90's with the tech bust. I have all my 401k in the safe fund. only earns 3-4 percent yearly. Looking pretty good right now! Got tired of shifting my money to the rich who rarely if ever lose money!
I find it funny that the press was attacking the 4 senators for insider trading. They ALL do it! Another reason for term limits.

Lt Keefer 03-21-2020 02:38 AM

All my retirement money is mailbox money not related to any market.

halfprice 03-21-2020 03:03 AM

I lost a ton but made a ton since the 08 crash. Fortunately my pension pays the bill's with extra to travel.

Hopefully the recovery is fast once things get back to "normal."

The_Breeze 03-21-2020 03:20 AM

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.

16ACE27 03-21-2020 03:48 AM

Quote:

Originally Posted by The_Breeze (Post 227722)
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!

Bob Denman 03-21-2020 02:19 PM

:rolleyes: I suppose that there's nothing wrong with working until I'm 157...:facepalm:

ducksface 03-21-2020 03:20 PM

Quote:

Originally Posted by Bob Denman (Post 227731)
:rolleyes: I suppose that there's nothing wrong with working until I'm 157...:facepalm:

There's certainly nothing wrong with admitting it.

The path is wide and narrow at the same time.

We were saved at a young age by a 12page book, dropped off at doctors offices by an unrememebred group. Magazine sized, bright orange shiny cardboard ish cover.

It was the embodiment of the snl skit 'don't buy things you can't afford.' it's in the link below, all ya gotta do is click it.

It said:
If you're the smartest person in your group, find another group.
Pay yourself first.
Open an fdic covered bank account. Put 10% in it each payday. If you can't, get a better job.
Eat beans and rice for a month if this it what it takes to pay off jc Penney.
Everything else is gambling.
Read this again.
Please leave this book where you found it.

https://vimeo.com/41152287

The_Breeze 03-21-2020 03:57 PM

I have a slightly different take: Nothing wrong with a little wager. Just don't go into it with money you can't afford to lose :coolsmiley:

Yaktop 03-21-2020 03:58 PM

Quote:

Originally Posted by ducksface (Post 227740)
There's certainly nothing wrong with admitting it.

The path is wide and narrow at the same time.

We were saved at a young age by a 12page book, dropped off at doctors offices by an unrememebred group. Magazine sized, bright orange shiny cardboard ish cover.

It was the embodiment of the snl skit 'don't buy things you can't afford.' it's in the link below, all ya gotta do is click it.

It said:
If you're the smartest person in your group, find another group.
Pay yourself first.
Open an fdic covered bank account. Put 10% in it each payday. If you can't, get a better job.
Eat beans and rice for a month if this it what it takes to pay off jc Penney.
Everything else is gambling.
Read this again.
Please leave this book where you found it.

https://vimeo.com/41152287

So true

ducksface 03-21-2020 04:10 PM

Quote:

Originally Posted by The_Breeze (Post 227746)
I have a slightly different take: Nothing wrong with a little wager. Just don't go into it with money you can't afford to lose :coolsmiley:

And that, is the rub.

Those who can, can.
Those who can't, mirror those who can, and fail.
Those who are stupid and can't, also mirror those who can, and languish.

Mine isn't a different take than yours.
Mine is the foundation that holds up the roof.
Yours is the roof.

Smart roofs know what holds them up.
There's a view from the roof. It's impossible to expalain the mountains you see in the distance to a brick in the foundation.
There aren't many brick roofs...but a brick doesn't understand this.

A little kaballahesqueness:

All vessels have a capacity.
A thimble sized vessel can be full, realizing it's full potential.
A lake sized vessel can be full, realizing it's full potential.
The thimble can overflow.
The lake can overflow.
A thimble is not a lake.


human minds are vessels.

Punchline:
Our society has decided that my completely uneducated naive view is a match for your expert long studied view.
The stupid needn't stay within their bounds in our society...so they gamble....

I am simply ignorant if I haven't the knowledge of investments and know of my shortcoming . I am simply stupid if I sheeply invest money I can't afford where educated
people cast....

ducksface 03-21-2020 04:33 PM

That was a lot of words for:
'If you're afraid you'll have to overlook it.
You shoulda known the job was dangerous when you took it.'
(superchicken theme song, paraphrased for fitment. Poor Fred)

https://www.google.com/url?sa=t&sour...l6J8jMLcT52WPU

Bob Denman 03-21-2020 04:47 PM

If I feel like gambling: I drink a glass of prune juice, and go outside...:rolleyes:
The results are more similar than you think! :lol:

Pete'sMH 03-21-2020 06:20 PM

Quote:

Originally Posted by The_Breeze (Post 227722)
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.



Yup. I recently inherited some money and I’m eager to get it invested while everything is tanked. Clearly no hurry as it’s not likely to bounce back for a while yet but it will do so eventually and I mean to ride it back.

rynosback 03-22-2020 03:50 AM

Do you mean your 200k nest egg? :facepalm:

HarleypsychRN 03-22-2020 01:50 PM

We're close enough to retirement (actually past retirement age) we had moved it to the least risky investments possible already. I'm in health care so I'm actually wondering if now might be a great time to pack it in since seniors over 65 are 20 times more likely to expire as a result of the virus.


All times are GMT. The time now is 08:33 AM.

Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Content Relevant URLs by vBSEO 3.6.0 PL2