Posted on 08/24/2015 6:36:42 AM PDT by C19fan
Wall Street plummeted early Monday as traders aggressively sold stocks and bid-up only the safest asset classes.
The Dow Jones Industrial Average tumbled 577 points, or 3.5%, to 15843, the S&P 500 plunged 77.5 points, or 3.9%, to 1884, and the Nasdaq Composite dived 412 points, or 8.7%, to 4295
(Excerpt) Read more at finance.yahoo.com ...
This has got to be bad for jobs. I am only coming out of the mess in 07, having retrained in nursing. Now ALL sectors of the workforce will be more competitive (bully for my FRiends who Are ready to hunker down and work past their retirement) What if there is no work to be had?
I’ve been dumping stocks over the past few months, as I am concentrating on principal preservation because I will be retiring next year. With social security and a couple pensions, plus 401k and IRA and a pretty good savings account balance, my wife and I should be able to live comfortably until we pass on over to the other side. Once the market hits bottom I’ll get back into some conservative stocks, but it will only make up about 10% of our holdings.
the president always gets the blame when the economy tanks.
Of course it is bad for jobs. So is bringing in 1.1 million legal immigrants a year along with 640,000 guest workers annually while we have the lowest labor participation rates in 38 years. This is insanity. We have a surplus of labor, not jobs.
Just placed an order for 500 XOM. I had been accumulating cash over the past couple of years waiting for the chance to use it.
May your increase be eye-popping!
I’ll be happy with the 4.26% dividend yield, thankyouverymuch.
Sure beats CD yields, don’t it? :-)
That’s the plan. They ain’t missed a payment since 1911. That two world wars, the Great Depression, LBJ, Jimmy Carter and Obama.
By the way — I have some DVY — a dividend-yield-seeking ETF. I’ve had it for years, and seen it go from profitable to underwater back to profitable. Typically yields 3+ percent.
Near market opening today, it dropped $14 at one point! It tripped the single-stock circuit breaker 2 or 3 times.
It’s now back up to ~$72, off only a couple bucks (and still well in the black for me — I bought in at $60-something).
I totally can’t figure out why DVY got clobbered so hard in early trading. Apparently some folks with money burning a hole in their pockets couldn’t understand either, because they bid it right back up. Whew!
Remember, you are an INVESTOR, not a stock trader. This is for ten years, twenty years down the road, and not next week.
>> Remember, you are an INVESTOR, not a stock trader.
Oh, I do. I do.
The good LORD taught me fifteen years ago that I do ‘way better when I work than I do when I speculate. :-)
Good for you I have 4 years left and am just starting to consolidate to risk adverse investments
Are you familiar with “asset allocation,” based on age and risk tolerance? It’s worth spending some time with hubby on how it works.
http://www.schwabmoneywise.com/public/moneywise/money_basics/investing/asset_allocation.html
I have a good financial advisor but Tks!
Needed to be aggressive because 2 kids in grad school and now raising my 2 year old granddaughter Will gradually switch over now and I guess if I have to work another couple of years I’ll survive!
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