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Post by Larry Madsen on Jan 24, 2022 13:24:58 GMT -5
I'm not liking the look of things and moving my/our $$$ to safer places.
I have been fighting this urge for nearly two weeks.
One more account to move.
This last one is under that control of an investment advisor. Just waiting for a call to tell me if he will handle it for me ... or if I need to move the account balance (someplace else completely) on my own.
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Post by rok-a-bill-e on Jan 24, 2022 13:58:41 GMT -5
And just where is any safe harbor? Turn it to cash and it loses value daily. I have no idea what to do.
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Post by rdr on Jan 24, 2022 14:23:22 GMT -5
I hear I-bonds are paying 7.1% from treasurydirect.gov. I need to look into it as I have a bunch of bonds that have stopped earning interest.
You can only buy $10k per ssn tho per year.
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Post by Larry Madsen on Jan 24, 2022 14:42:25 GMT -5
And just where is any safe harbor? The answer in general is probably a very subjective thing for a given individual. This "last" portfolio I referred to has been invested about 90% in stock influenced mutual funds. I talked to the advisor a little bit ago and we will move it to the "safest" option he can ... without his corporate people questioning his activity. It will move to 20% stock related and 80% "safer" options. Obviously, with inflation ripping away at us, total cash investments carry an unavoidable negative drag. That prior 90% stock related investment strategy had served me very well over the past four years. With all I see going on in the Country and the World right now I just don't have any faith in an upward swing coming any time soon.
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Post by FlyonNylon on Jan 24, 2022 15:25:19 GMT -5
When this pops up in general sentiment it often means now would be the worst time to sell, jmo. I’m 100% equities btw not including home value and spending money in checking accounts.
I’d just stay the course and continue with whatever financial plan you previously laid out.
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Post by Mfitz804 on Jan 24, 2022 15:38:10 GMT -5
Just gonna throw out the disclosure, take investing or stock advice from people on the internet at your own discretion, the views expressed herein are not those of Moe’s but rather each individual poster.
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Post by Leftee on Jan 24, 2022 16:09:46 GMT -5
I invested in posters.
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Post by Mfitz804 on Jan 24, 2022 16:16:30 GMT -5
Now that’s a solid strategy.
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Post by Auf Kiltre on Jan 24, 2022 16:17:11 GMT -5
Am I reading this right? Looked earlier and the Dow was down almost 1000 points and closed 100 up?
Crazy times.
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Post by FlyonNylon on Jan 24, 2022 16:22:47 GMT -5
Can’t let a little volatility get you down lol.
Big money is playing chicken with the fed in an even year regarding interest rates. Corrections are generally healthy and it was due imo, things were getting a bit out of hand..
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Post by Larry Madsen on Jan 24, 2022 16:41:19 GMT -5
Yes, you read that correctly.
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Post by gato on Jan 24, 2022 16:56:07 GMT -5
I believe in diversification. I have real estate, stocks, cash, gold, money market funds, and a couple of sought after old VW microbuses.
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Post by Mfitz804 on Jan 24, 2022 19:02:54 GMT -5
Am I reading this right? Looked earlier and the Dow was down almost 1000 points and closed 100 up? Crazy times. Today was a wild ride. My meager retirement account was down $4500 at one point and I wound up gaining $109 on the day.
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Post by Larry Madsen on Jan 24, 2022 19:58:16 GMT -5
My account mentioned in this thread showed similar.
It was down $4,000.00 plus during the day. …
and ended up about $450.00
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Post by Harleyboy on Jan 24, 2022 20:08:46 GMT -5
If you rode the waves last year, you are probably not down more than 30% of last years gains. That depends (of course) on how you were invested but please understand "panic" is not a good investment policy. If you made good choices, they are still good choices.
my 2 cents, could be worth less tomorrow.
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Post by walshb 🦒 on Jan 24, 2022 20:16:51 GMT -5
I believe in diversification. Me too! Most of mine is in guitars and amps....and a few banjos, for diversification. (I don't know what I was thinking!)
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Post by Larry Madsen on Jan 24, 2022 21:32:00 GMT -5
If you rode the waves last year, you are probably not down more than 30% of last years gains. 44% as of tonight, but who's counting please understand "panic" is not a good investment policy. I don't consider this "panic". I just don't like the looks of what I see going on out there. I certainly don't see any sort of "Bull Run" on the horizon. In 2008 I sat there telling myself I should do something and did nothing. My account dropped to about 40% of what it had been and took about 6 years to recover. I think this is a fair enough time to take a breather and watch from the sidelines for a bit. It's not like I sold out and bought a Ferrari (or two or three) .
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Post by Larry Madsen on May 3, 2022 5:49:48 GMT -5
One more account to move. This last one is under that control of an investment advisor. Just waiting for a call to tell me if he will handle it for me ... or if I need to move the account balance (someplace else completely) on my own. Old thread I know. Back in January when I contacted this advisor ... I let them talk me into something different than I had wanted. Advisor says something to the effect of, I can't go to something "real safe" (my words not his) because I can't explain that to the main office. I allowed him to "do the best he could do" and I would see. Well, I have seen enough. I moved the account out of the advisor's control yesterday. This is an account that has never cracked $200,000.00 and is down almost $26,000.00 for the year and about $12,000.00 since I made the changes (on Jan 24) to our other accounts and he changed this one. Sadly, that $12,000.00 loss this past 3 months is after him going to the safest thing he could. It takes about 24 hours to get the advisor kicked to the side, then I can take over. I'll be taking this one to the safe harbor as soon as I can. Each of our other accounts have increased every month this year, while in "safe harbor".
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argo
Wholenote
Posts: 406
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Post by argo on May 3, 2022 6:45:55 GMT -5
Our "Safe Harbor" is a Money market with Fidelity. I'm not sure what that is but my wife is better at finance's than I am, and I always do what I'm told. We moved 90% about 12 months ago.
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Post by oldnjplayer on May 3, 2022 6:46:37 GMT -5
I am diversified: Fender, Gibson, Taylor, Martin, Seagull, Epiphone.
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Post by Larry Madsen on May 3, 2022 6:59:12 GMT -5
We moved 90% about 12 months ago. Up to the very end of 2021 things were going up pretty well. I thought all along about moving last year, but the surprising and continued up-tick kept me hanging on. What I was seeing out there as we entered 2022 lead me to make the change. Now, 4 months in, I view the upcoming stretch of time as even worse than I did in January. I've always been an aggressive investor and still intend to be ... However, I'll happily sit this out until I see signs of something better happening. I rode it to the bottom of the barrel in 2008 and told myself I would never do that again.
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Post by fkaJimmySee on May 3, 2022 7:52:55 GMT -5
There's no universal magic answer, but in times like these, the best path forward for me has been to do nothing. Sit tight. Seems counterintuitive, but has worked so far. Don't see any reason to change course.
^^^^That is NOT financial or investing advice, which I am totally unqualified to give.
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Post by Peegoo 🏁 on May 3, 2022 8:43:32 GMT -5
One of the worst things you can do as an retirement investor is watch the daily fluctuations of the market.
Play guitar.
LEGAL DISCLAIMER: I AM NOT A CERTIFIED FINANCIAL PLANNER; I'M A GUITAR PLAYER. THIS POST AND CONTENT ARE PROVIDED “AS IS” AND WITHOUT WARRANTIES OF ANY KIND. YOU BEAR ALL RISKS ASSOCIATED WITH THE USE OF THIS POST AND CONTENT, INCLUDING--WITHOUT LIMITATION--ANY RELIANCE ON THE ACCURACY, COMPLETENESS OR USEFULNESS OF ALL CONTENT IN THIS POST. SO THERE.
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Post by Larry Madsen on May 3, 2022 9:27:43 GMT -5
One of the worst things you can do as an retirement investor is watch the daily fluctuations of the market. I get that is the "boiler plate" investing advice. I agree with it in general. I have also seen several times in life where instinct was telling me I should make some adjustments and the passage time proved I was correct ... even though I had failed to make the adjustments.
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Post by tahitijack on May 3, 2022 10:45:41 GMT -5
Apparently my family thinks I am a safe harbor. Lately they have been calling asking for money, not a loan. Everytime the phone rings I say to my wife "I wonder how much this call is going to be worth".
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Post by rickyguitar on May 3, 2022 11:32:22 GMT -5
I saw thus title and immediately thought Harbor Freight. Moving along now.
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Post by Taildragger on May 3, 2022 15:08:57 GMT -5
My experiences with "investment councilors" have all been bad. I'm not saying there aren't any good ones: just that I haven't met them. If my experiences are a sound basis for judgement, most investment councilors are more interested in churning your account to maximize their transaction commissions than looking out for their clients' best interests. They couldn't care less whether you make or lose money and will double talk you til the cows come home to keep you "on the hook".
The last guy I worked with even pulled some underhanded delaying tactics with the paperwork (which I submitted in plenty of time) when I tried to pull out during a grace period (after his having lost me $5K on a supposedly "minimum risk" investment strategy: he purposely delayed filing the account closure til it was too late. Fortunately, the bank branch manager was an ethical person who went to bat for me with the "higher ups" and got my wishes implemented after I complained to her vociferously about Mr. Shellgame's behavior.
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Post by Larry Madsen on May 3, 2022 18:49:39 GMT -5
I wouldn’t say I have felt they do a bad job in general or that I’ve been cheated on some way.
My problem is they will do nothing to protect the investment in the way I want. Which I get to an extent. I pay them to figure this stuff out.
Sadly if I want to just sit on the sideline for a few months … rather than keep making their commissions on the account I am force to remove them. Just seems a bit silly on their part.
So be it. It’s 1.5% I won’t be paying to them.
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Post by Ragtop on May 3, 2022 18:58:43 GMT -5
We've lost our arses in a couple of retirement accounts lately. Luckily, they are not huge accounts. All we can do at this point is sit tight and hope for better days. Within my lifetime would be nice.
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Post by Larry Madsen on May 3, 2022 19:41:21 GMT -5
Yes indeed Ken.
And that’s what I want to skip past. Avoid the loss and pick up again when things look better.
Back in 2008 our accounts dropped to about 40% of what they had been and it took 6 years to recover.
At 65 years of age with things looking like they do to me … I’ll happily sit on the sideline for a stretch here.
The advisor tells me I’ll miss the recovery. Heck, all I’ve missed is the big slide down. Which is exactly my plan.
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