Why people still bank with WF, BOA, etc is beyond me
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Financial advisor???
- Thread starter casa_mugrienta
- Start date
Sell and then do what? 100% stocks 100% of the time and stay the course is the only long term solution.
It kills me when people tell me they lost money.
You only lost money if you sell the stock. If you hold for a long time good chance it grows
That guy was smart and enlisted the help of Financial Pros early. Because of his wealth, income, and connections he was able to invest in early seeding rounds of alot of tech companies before they went public. I have a few friends in that universe and they tell me they have ten plus losers for every winner, but that one winner makes mega millions.
There are some creative alternatives. But you have a point. Where to run? Our dollar is looking like it is going to go in the crapper. Which probably means your taxes are going up more than expected and obviously everything else will cost more as well. Real estate sure looks like a bubble, but I've been saying that for some time now and it just keeps going.
The giant sell signal thing is kind of a modern day play on an old Wall Street "truism." When I was but a wee PM sitting at the feet of noted investment sages, it was told to me that, "When NY cab drivers are giving out buy side stock tips (or asking for long stock tips) SELL."
I haven't seen a yellow cab in a loooong time, but stock market threads on the erBB have provided accurate short term sell signals at least two times that I can think of. It's a contrarian indicator obviously. With old surfers on the internet standing in for the cab drivers of the 50's, 60's, etc. An update as it were.
The stuff I have has been held for decades. And it's not going anywhere without some kicking and screaming.
It's easy for me to get pretty black about this right now. I haven't slept for a few days and my dog died in my arms yesterday, so maybe things look brighter to me down the road. Probably they will. When I was in my early 30s I would listen to these "gurus" that would make compelling cases for absolute economic anarchy. The solution as far as they were concerned was buy land in Montana somewhere, build an underground castle/bomb shelter and stock it with gold, freeze dried food, guns, ammo, water, blah blah blah. And you know what? They went out there and did it. And no doubt died in some miserable hole in the ground in Asshole Montana. So who knows? Maybe the sun really will come out tomorrow. Tomorrow, tomorrow, I love you tomorrow... I'm done.
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Sorry about your dog
Hope you get some sleep
And @Stinkeye seems pretty happy, so, for some people, that plan works nice, even without economic or other collapse
Again, sorry about your dog
She taught for a few years in public so minimal pension involvement.You can sponsor my band's 2022 Granny Sluts and Methadone Tour of San Diego.
You get a t-shirt and a mug.
Is your wife in PERS or STERS?
I thought I was going to have to kill myself because I didn't prepare for retirement.
Then my peers who were a little older than I who were retiring this year and had actually taught for less time than I were like, "Oh, no. We get this, and we get this and we get this."
I was all, "Maybe I won't have to blow my brains out."
Then I thought, "No wonder right wingers hate teachers."
She couldn't handle the public school BS anymore. Loves he current job, but I hate she puts way too much effort in IMO. Like any similar job, the more they trust you the worse it is.
She says she's done if required to use the term "they" to refer to a singular individual, however. Poor grammar for elementary aged kids and as dumb as justifying the teaching of intelligent design.
Probably around 2012, I think I closed it with about $300 in it.
Most of the gains had been gobbled up by fees.
Thanks for all the advice here, you guys have definitely given me some good starting points.
@SlicedFeet, would like to know more about the REITs, this is something that has always caught my interest as for whatever reason I feel more comfortable with tangible assets. It doesn't help the two people I know with financial degrees both worked at hedge funds straight out of college, left after a few years because they hated it, and are now doing very well pursuing mineral rights, oil, gas, and alternative energy. Neither has a dime in the stock market.
@grapedrink my parents were both savers and investors who have done very well in retirement, however my dad handled all the money and he's a horrible teacher.
A far as why I'm not renting my place and living elsewhere - I'm mainly not sure I'm interested in being a landlord. Very low tolerance for people who pour grease down the drain, etc.
@SlicedFeet, would like to know more about the REITs, this is something that has always caught my interest as for whatever reason I feel more comfortable with tangible assets. It doesn't help the two people I know with financial degrees both worked at hedge funds straight out of college, left after a few years because they hated it, and are now doing very well pursuing mineral rights, oil, gas, and alternative energy. Neither has a dime in the stock market.
@grapedrink my parents were both savers and investors who have done very well in retirement, however my dad handled all the money and he's a horrible teacher.
A far as why I'm not renting my place and living elsewhere - I'm mainly not sure I'm interested in being a landlord. Very low tolerance for people who pour grease down the drain, etc.
Sounds like they taught you how to save, which is good. The difference is they were able to take advantage of mid+ single digit interest in their savings accounts, whereas you can barely get a half percent nowadays.Thanks for all the advice here, you guys have definitely given me some good starting points.
@SlicedFeet,
@grapedrink my parents were both savers and investors who have done very well in retirement, however my dad handled all the money and he's a horrible teacher.
No way I would want to be a landlord in California. The laws are heavily biased in favor of the tenant. Plus with Covid, I could see even more laws and "forgiveness" being tacked on. Anyone considering it in California should watch this movie from the 90s, based in SF:
Here’s some Reits for you. MPW might be up your alley. 5.5% dividend yield.
https://www.kiplinger.com/investing/reits/601792/high-yield-reits-to-buy-for-big-income
https://www.kiplinger.com/investing/reits/601792/high-yield-reits-to-buy-for-big-income
It’s a recreational trade. I spent pocket change on it. My portfolio is nearly all equity etf and tracker funds with vanguard. And real estate. And art and heirlooms and kruggerands and ammo
I think I have like 2% bonds in my whole 401 k
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ETFs and keep the fees low as low can be. Fees can add up over decades.
rebalance every 6 months.
rebalance every 6 months.
I used to run a dividend capture model that largely used REITs, utilities, and some other income oriented stocks for short term trading. Worked well for a couple of years. Then too many people started doing the same thing and getting in and out in a timely fashion became problematic. Mostly all pension/profit sharing money.
Thanks RG.
Different strokes for different folks. All depends on what you’re looking for.
Cowabunga.
No reason to pay off the mortgage.
Age kinda matters a bit here. if you are paying 600 dollars a month for interest it
adds up.