I have not seen any discussion of the market and the economy in a long while. It is hard to discuss without devolving into politics. I foresee problems no matter how the election turns out with the possibility of a real disaster if one side in particular wins. Since I am retired and cannot afford a disaster, I sold all of my retirement stocks on Oct 13, with the exception of a few utilities. I kept my bond position, which was pretty small to begin with. I cannot imagine buying back into the market until 2021, possibly late second qtr. I have one child looking for a job and another graduates in a year. It could be ugly.
So, forget the mouth and where is YOUR money?
I've been tracking my 401k and it has been going up and down like crazy. Since I am 46 I have an 'aggressive' investment plan but may change that and calm down in a few years. Fortunately I also have a pension.
I assume my wife will live to be 100. My target is 60/40 stocks/bonds. Since bond yields are so low I've been holding cash for the bond part. I also convert my fixed pension to a bond asset in portfolio weighting using a not terribly difficult calculation.
If I'm alive 20 years from now I'll be surprised.
My Financial guy talked me into putting retirement Nest Egg in an IRA that earns less interest but can never fall below my initial sum I invested. It's a no-lose bet. O0
Quote from: airboy on October 31, 2020, 04:54:53 PM
If I'm alive 20 years from now I'll be surprised.
Reminds me of the philosophy of life insurance: The earlier you die, the Bigger you Win!
I sold all my individual stocks about 5 years ago because I was getting obsessed with their performance and found myself checking my phone 10+ times an hour. I switched to ETFs and some mutual funds and was seeing kinda meh returns (~4%/yr on one and 6% on the other). All my gains to date got wiped this year. Covid tanked them but they then gained back a bit over the year but then tanked again a few weeks ago based on more lock downs and election uncertainty.
Fortunately, I started tossing a portion of my paycheque into Bitcoin each month about the same time I sold my stocks and I'm up about 300% on that. I spent my mid 20s to md 30s bumming around the globe for low pay and having a great time. I see those as my retirement years. Now I gotta work til I drop. Don't regret the choice at all.
Quote from: Sir Slash on October 31, 2020, 11:04:44 PM
My Financial guy talked me into putting retirement Nest Egg in an IRA that earns less interest but can never fall below my initial sum I invested. It's a no-lose bet. O0
The problem with the pension, same here is their all invested in the market. Market tanks real bad it will affect pensions