Posted on 03/09/2020 6:40:04 AM PDT by BenLurkin
The word I would use is ‘safety.’ We are truly blessed that Mr. RightField has a good, old-fashioned pension. If the backer of that pension goes belly-up, we’ll have more than that to worry about anyway, I guess. We are debt-free and have a couple of debt-free rentals. If the worst scenario happens and Dem is elected this fall, we will take the tax hit on the IRA and get our cash out. I fear a Dem administration will orchestrate some takeover of the retirement funds out there. The Dems surely want to get their hands on that cash.
“We are debt-free and have a couple of debt-free rentals.”
Right there is your peace of mind...even if the pension goes belly up.
Smart planning.
I’m beginning to see that too. I’m waiting for more info first.
No one should be risking their retirement savings in the stock market!
Wow, is this going to sink the oil sands?
Here near Vancouver, BC, we have the highest prices in North America. Gas prices went UP Friday.
Sort of the point financial advisers are making. I expected the market to be up today. Nope. Advisers talking on the weekend said no one can time the market. In the short term predicting the market is like picking lottery tickets.
I say tomorrow it will go up at least 1000 points.
if only... I can’t see why stations can’t have at least 1 pump without ethanol
noticed okla stations mostly have that option
Well at least we only have one day to see if you are right or wrong. :)
Yeah, it might. But then down again Wed, up Thurs, ect.
I like to play the short term sometimes but I’m no day trader.
Excellent analysis.
I think sometime last fall, passive investment overtook active for the first time.
When that starts to unravel, I can’t begin to guess the impact.
Classic melt-up.
Interesting question. My better angel and I are 70. i retired 4 years ago. She is still working.
I convinced my wife to contribute the maximum to her 401k,
My wife gave me a blank check for managing her 401k account. She had all her dinero in cash.
I was able to put it all in a small-cap fund ( I rolled the dice ) that has never lost money since it’s inception. She made a tad over 31% on her money last year.
Since the Treasury inversion March of last year (now it’s inverted all over the place), i moved everything but 10% back into a stable fund.
The background that allowed us\me to take a shot is kinda weird.
I cashed out my 401k - took the tax hit and paid off all my non-mortgage debt(we since have paid off the first mortgage, small 2nd still exists) put the rest in the bank.
I have taxes taken out of my SS check to cover what the feds are taxing us.
I still have more net monthly spending money than when I was working.
We also used a SS goofy Clinton loophole,(now closed but those born prior to 01/02/1954 and earlier are grandfathered in) whereby by I filed for SS and my wife got a spousal benefit under my SS that was half of my monthly check.
She was still working so she banked it. This loophole(it’s called a “restricted filing”) works best if both are around the same age and around full retirement age
Her own SS accumulated 8% a year for 4 years, then she filed for her own SS and is now banking that.
So we had a cushion to take a shot...Mister Toad’s wild ride is driving her nutz...but she sees her position to lose has been minimal.
She should be ok financially should I pass today.
Saudi Arabia’s cost of production is between $10-15/bbl. Even though oil is HUGE portion of their economy and claim they can’t afford a lower production level, oil in the very low $30s is lower than their cost of production.
The Russians will cave in sometime this week; maybe in the next day or two if they haven’t already.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.