OT - Dow plunges 1,175 - worst point decline in history

[Gsinill]

Originally Posted by Gsinill

This thread is not limited to how a plunging stock market impacts retirement.
Fact is that stupid actions by "someone" today, will impact the value of your portfolio tomorrow.

Hope the market had a nice upswing the day you need to cash in some stocks for a down payment on your next house

Originally Posted by kppolich

Your holdings are your responsibility and you should be prepared for the good and the bad depending on your current and future needs.

Blaming anyone but yourself for any financial troubles is lazy and shows how under prepared you are.

Additionally, if you are relying on the stock market to bank roll your purchase of a home (the biggest purchase you will ever make) you are doing it wrong.

Me? I paid cash for my Bugatti Veyron.
But should I ever need financial advice, I know who to reach out to.

[William]

Originally Posted by Gsinill

Me? I paid cash for my Bugatti Veyron.
But should I ever need financial advice, I know who to reach out to.

Pictures with todays Tribune on the hood or it never happened.






W.

[Gsinill]

Originally Posted by William

Pictures with todays Tribune on the hood or it never happened.

W.

Sorry, sold that one and replaced it with a Bugatti Diva.
Will take a picture once I am done reading through "Investment for Dummies".

[goonster]

Originally Posted by kppolich

Your retirement is your responsibility. If you are near retirement and the timing is "bad" for you, it is your fault for being over allocated in high risk holdings

How close were you to retirement when Fannie Mae & Freddie Mac went into conservatorship, Lehman Brothers went bust, and the Primary Reserve Fund broke the buck?

The only people I know who talk like this are people for who the market looked like this for the lion's share of their "investing" careers . . .

[Mzilliox]

Originally Posted by oldpotatoe

‘They’ didn’t do anything and ‘they’ may not cut interest rates. Powell just doesn’t like ‘the phone call’...

Humans did this. This is simply a man made construct. The FED does what it does and computers made by rich guys trying to get richer make the "market" go.

[joosttx]

Originally Posted by goonster

How close were you to retirement when Fannie Mae & Freddie Mac went into conservatorship, Lehman Brothers went bust, and the Primary Reserve Fund broke the buck?

The only people I know who talk like this are people for who the market looked like this for the lion's share of their "investing" careers . . .

the stories i could tell

[oldpotatoe]

Originally Posted by echappist

He does like to be a patient man though

But he needs to make decisions based on data, not the ignorant whims of somebody sitting in his jammies watching faux news.

[nickl]

Originally Posted by Gsinill

Sorry, sold that one and replaced it with a Bugatti Diva.
Will take a picture once I am done reading through "Investment for Dummies".

Individuals boasting about extravagant material assets, whether they be HyperCars, mega yachts, personal jets, mansions, etc. typically can’t afford the maintenance costs these possessions let alone the initial capital outlay.

BTW, the name of the book is “Investing for Dummies” not “Investment for Dummies”. Most individual investors would benefit by reading this guide written by Eric Tyson, an award winning financial author. A free pdf version is available online so it’s certainly within your budget.

[bigbill]

I've lost around 1.5% in the last couple of months. I'm 5+ years from finally retiring (I'm already retired twice) so I'll keep throwing money at my accounts until then. Yay capitalism.

[nickl]

Individuals boasting about extravagant material assets, whether they be HyperCars, mega yachts, personal jets, mansions, etc. typically can’t afford the maintenance costs these possessions incur let alone the initial capital outlay.

BTW, the name of the book is “Investing for Dummies” not “Investment for Dummies”. Most individual investors would benefit by reading this guide written by Eric Tyson, an award winning financial author. A free pdf version is available online.

[Mr. Pink]

Originally Posted by goonster

How close were you to retirement when Fannie Mae & Freddie Mac went into conservatorship, Lehman Brothers went bust, and the Primary Reserve Fund broke the buck?

The only people I know who talk like this are people for who the market looked like this for the lion's share of their "investing" careers . . .

I'm not quite sure what your point is, but, you may be providing evidence that one should be invested somewhat in the market, and more important, STAY in the market when times get tough. Sure, equities took a hit in 08, but, where are we now since then? Arent we up, like, 300% in a decade? Quite the party to miss.
I don't hear it much anymore, but, for years after the crash, I would read something like "we lost our retirement savings in the market crash, sob", many a time. No, you didn't "lose" your money, you did something dumb, and sold low to flee to safety (probably after you bought high for years). If you stayed put, you'd be OK, after reducing spending during the down times, if you were retired. Sorry, bad move.

Re: John Bogle

[PSC]

I tell people your account value can fluctuate up and down. You have only lost money once you sell.

[Tony T]

Originally Posted by PSC

I tell people your account value can fluctuate up and down. You have only lost money once you sell.

Very true.
It's only your Net Worth that is affected.

[Gsinill]

Originally Posted by nickl

Individuals boasting about extravagant material assets, whether they be HyperCars, mega yachts, personal jets, mansions, etc. typically can’t afford the maintenance costs these possessions let alone the initial capital outlay.

BTW, the name of the book is “Investing for Dummies” not “Investment for Dummies”. Most individual investors would benefit by reading this guide written by Eric Tyson, an award winning financial author. A free pdf version is available online so it’s certainly within your budget.

My Veyron/Diva was/is as fictional as the title of the book and were part of a sarcastic response to lecturing me and making assumption about my financial situation.

[nickl]

Originally Posted by Gsinill

My Veyron/Diva was/is as fictional as the title of the book and were part of a sarcastic response to lecturing me and making assumption about my financial situation.

My comment was also made tongue-in-cheek and included the word 'typically' as a generalization about people that make similar statements about their exceptionally grandiose financial assets, whether these were said sarcastically or not. Nothing was aimed specifically towards you or any other individual.