Biden, Schumer are using ESG to come after your retirement savings and bipartisan efforts won't stop them

Fox Business ^ | 3/07/23 | Andy Puzder

[mass55th]

"Ouch. Good luck to you."

I have no financial worries. I'll continue to get my pension and social security each month until I drop dead. I live very comfortably on it. My sons can split my life insurance. I've never owned a home, no stocks or bonds, have no pets. I have no financial complications, so there's nothing important that my kids will have to deal with when I'm gone.

[WildHighlander57]

For many folks the investing of 10-20% of the paycheck has already been done, and they are now retired.

They will not have enough time to recoup losses incurred in down years.

[plain talk]

Definitely. You invest 10-20% over 30+ years into a diversified portfolio, let it sit and your work is done. Those that might try to gamble their way into building a retirement nest egg at the last minute are fools.

[SunkenCiv]

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[WildHighlander57]

If the retired investor already has the diversified portfolio that was invested over 30+ years, and it consists of stocks, bonds, and money market funds, and the rising interest rates clobber the bonds, and the investor fears etc clobber the stock market, then that investor will not have time to recoup his losses.

[The Great RJ]

Put your savings into gold and silver.

[plain talk]

I was heavily invested in the stock market for years and years. Maybe 80%+. I retired in my early 60s. I have maybe 45% in stocks now many in high dividends stock index funds. Lots of cash and some bond mutual funds.

It’s good to continue to retain some stock investments to offset inflation. But yes there are always risks of crashes that can happen at any time. You don’t want to harvest income from crashing stock funds. Never invest in stocks monies that you will need in the next 5+ years etc.

The hardest thing was the sacrifice to save the money in the first place. Many can’t do it, make up excuses, etc. But it was worth it to be able to retire at the same standard of living.