Edited by Raskin, 25 August 2015 - 10:21 AM.
Posted 25 August 2015 - 10:12 AM
Posted 25 August 2015 - 07:38 PM
I have 5 different retirement accounts and 1 individual stock. Four are higher risk (85/15). Have had all 5 since 2004 (only one 401k before that). The one thing I learned a long time ago is that you will drive yourself nuts watching the market day to day. Markets need to balance out every once in a while. But historically they come back stronger than ever. Worried about a Great Depression type crash? I doubt you will see that ever. To many safety nets have been put in place to avoid that happening.
Best advice is to hold what you got and not look at it. I meet with my financial advisor every 1-2 years to make adjustments. Other than that, I ride out every bull & bear. Once I get within 10-15 years of retiring, then I will make some big adjustments to a more stable ("safer") portfolio to protect against a down market "at the wrong time".
I trust my financial advisor. Three of my accounts are mirror images of his own personal retirement account with a standing order to follow his changes without need for approval.
Best advice comes directly from him...... "ride it out and don't worry about it until you are 50-55".
- Raskin likes this
Posted 25 August 2015 - 08:59 PM
Posted 26 August 2015 - 05:05 AM
it's just hearing people blaming government or other factors that makes me laugh
What does this mean? What does "Chinese built stuff" mean? I guess I should ask, do you live in the United States?
Worried about a Great Depression type crash? I doubt you will see that ever. To many safety nets have been put in place to avoid that happening.
1973: Oil shock, end of Bretton Woods
1980: Hard recession began
1987: Stock market crash
1994: Bond market crash
2001: Stock market crash
2008: Stock market crash
Don't forget about how in 2009, the US Senate was threatened with Martial Law, by Sec. Henry Paulson, exposed by Senator James Inhofe, if the Taxpayers didn't foot a 700 billion dollar debt. Is that the "safety net" of which you speak? The next bubble bailout is projected to be +/- 4 quadrillion dollars. What do you think will happen when we can't pay that, with our 16 trillion GDP and 18 trillion national debt?
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