Reminder: The daily ups and downs of the stock market only really matter to the retail investor.
For those who play the long game, ups and downs should be evaluated and adjusted for over decades.
This includes your retirement strategy.
Don’t let the game play you.
@hawaiiboy Fair. And I realize that even at 57 I say this from a point of extreme privilege and generational wealth others don’t have. Yet, that privilege and generational wealth came from ancestors who thought not even in decades but in generations.
The former slaves who got a piece of land and spent the proceeds to send all eleven of their children to college.
My wife’s grandfather who decided to buy stock in a cash register company called International Business Machines and never sell it (we still own it and the original stock certificates he received).
A significant portion of our personal stock purchases were made 30+ years ago and we’ve seen between 10-15% return on those year over year averaged out… 2008 not so much, but 2018 much more.
I guess what I’m saying is that your 401k may not loo great tomorrow morning but the real question should be what are you doing now to make it to age 75? What are you able to leave behind a bit better than when you got it.
I guess what I’m saying is that your 401k may not look great tomorrow morning but the real question should be what are you doing now to make it to age 75? What are you able to leave behind a bit better than when you got it.
.. is under normal - even abnormal - circumstances good advice - but I believe we are in unprecedented times and territory.
“Expect the unexpected they say.”
None of this was unexpected - we were told very clearly.
The only part of that which has not yet played out is the two years bit … which frankly - I have no idea about - and neither does anyone else.
But if all this is expected - what will be uneexpected?
The opposition to whatever is going on needs to get out of the BAU mindset such as ‘this will be all over in 4 years’ and playing by the rules because it won’t if we do nothing now.
It is quite clear that ‘we the people are pissed and protesting’ - but the people in power are essentially doing nothing and if that continues and social security and medicare/caid is destroyed as the markets collapse and 401Ks disappear out the window - I am unclear how the vast majority of of people will make it over the next couple of years - much less till 75.
Sorry to be depressive - and maybe I am coming across as a conspiracy nut job - but I see nothing happening to stop this suite of nut jobs.
@patrickrhone We all have circumstances. One lets them define you, or not. I’m not. Your life is a collection of your choices.
We have enough untethered liquidity to not panic. You’re in a prime situation. Enjoy.
My wife’s siblings stayed in ND and have greatly benefited from oil and created generational wealth. We’re in Hawaii, not as lucky. But happy.
I’m healthy enough to work quite a few more years if need.
Peace and Aloha
@hawaiiboy wait — you have connection to North Dakota? I was born in Minot, ND and my extended family is from the northwest corner. Grandpa had a few oil wells but not enough to be that big. Not Bakken oil, the run before that in the 80’s. Much smaller.
@hawaiiboy Thanks. Glad to hear you’re in a position to hopefully weather this storm. Hang in there.
@JohnPhilpin I’m, not holding out a ton of hope either. So, you are not coming across as anything other than someone, like me, trying to ride the wave you saw coming for as long as you can. We are regularly having conversations in my household of the plans one should be making in these times.
Those plans are doable and our resources allocated such that, short of a total collapse of three world currencies, we can act on them.
@JohnPhilpin I agree. What frustrates me most is everything being said by talking heads is in the context of business as usual, they think this will all be over in four years and it won’t because I no reason to believe the next Presidential elections will be fair. The coup has happened!
