See. I told you so, a giant, slick looking, Ponzi scheme, notice how all these folks are desperate to get you to buy into the "game". If they can't get enough dupes to play the money isn't there.
World Economic Collapse is imminent
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Originally Posted By: GiveMeAVowel
See. I told you so, a giant, slick looking, Ponzi scheme, notice how all these folks are desperate to get you to buy into the "game". If they can't get enough dupes to play the money isn't there.
By all means, suggest a way to invest for retirement where I can make bi-weekly deposits until 2035 and gain annualized returns of 7-8% and I'll gladly consider it.
See. I told you so, a giant, slick looking, Ponzi scheme, notice how all these folks are desperate to get you to buy into the "game". If they can't get enough dupes to play the money isn't there.
By all means, suggest a way to invest for retirement where I can make bi-weekly deposits until 2035 and gain annualized returns of 7-8% and I'll gladly consider it.
Welcome to the first of the month! It's time to update the scoreboard.
VTI $980.50 now $992.10 +1.18%
Gold $1140.49 now $1139.90 -0.05%
VTI $980.50 now $992.10 +1.18%
Gold $1140.49 now $1139.90 -0.05%
So after today, is anyone else considering buying? I know a few here bought on the dip last week and did ok. Of course that doesn't mean they didn't go back down today.
Originally Posted By: morepwr
So after today, is anyone else considering buying? I know a few here bought on the dip last week and did ok. Of course that doesn't mean they didn't go back down today.
If you like roller coaster rides, then get into the stock market and hang on.
So after today, is anyone else considering buying? I know a few here bought on the dip last week and did ok. Of course that doesn't mean they didn't go back down today.
If you like roller coaster rides, then get into the stock market and hang on.
Originally Posted By: Warstud
So much for the recovery rally. DJIA -470 points
"stocks tend to fluctuate."
J. P. Morgan, in 1932, when asked how he thought the market would do in the future...
So much for the recovery rally. DJIA -470 points
"stocks tend to fluctuate."
J. P. Morgan, in 1932, when asked how he thought the market would do in the future...
Originally Posted By: Warstud
So much for the recovery rally. DJIA -470 points
After all these years of 401k accounts and general investing advice being so freely available I am astounded by huge the number of folks that remain entirely clueless about basic finance and investments.
Let me try to be very clear, pretend I am speaking in a very loud voice - unless you are retired right now and have no other savings or source of income besides selling some of your stocks this month, current stock market prices and volatility mean absolutely nothing.
Most savvy retired people are not affected by short term market corrections. Smart retired folks with any sense at all always have a buffer of 12-24 months or so of liquid assets to draw on (like laddered T-bills or CDs) so that they don't need to sell stocks when market is down.
For those that are still working and investing and dollar cost averaging funds into 401K's, market down days/weeks are great opportunities to buy stocks when they are on sale.
So much for the recovery rally. DJIA -470 points
After all these years of 401k accounts and general investing advice being so freely available I am astounded by huge the number of folks that remain entirely clueless about basic finance and investments.
Let me try to be very clear, pretend I am speaking in a very loud voice - unless you are retired right now and have no other savings or source of income besides selling some of your stocks this month, current stock market prices and volatility mean absolutely nothing.
Most savvy retired people are not affected by short term market corrections. Smart retired folks with any sense at all always have a buffer of 12-24 months or so of liquid assets to draw on (like laddered T-bills or CDs) so that they don't need to sell stocks when market is down.
For those that are still working and investing and dollar cost averaging funds into 401K's, market down days/weeks are great opportunities to buy stocks when they are on sale.
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... or you could have no retirement savings, but shout conspiracy when other people who are investing for the future are doing well.
Originally Posted By: Bandito440
... or you could have no retirement savings, but shout conspiracy when other people who are investing for the future are doing well.
Guess which one is easier to do!
... or you could have no retirement savings, but shout conspiracy when other people who are investing for the future are doing well.
Guess which one is easier to do!
Or that the Federal Reserve pumped in $4,500,000,000,000 to Wall Street.. To prop up and build up the market from 6900 in March of 2009 to near 18,000 this year. How much market value monetary wise did this add to the market?? 30, 40 trillion dollars?? Less than 50% of people in this nation own stock. Who owns the greatest percentage of stocks? Wonder why the wealth disparity questions arise so much?? Or that people want to redistribute that gained wealth back to other people? Now for the record I don't believe that's a right course to take. Except to pay back the amount the Federal reserve put into quantitative easing should be paid back. Keeping interest rates 0% to 0.25% from 2008.
I do agree though that investors who are in the market for the very long term "should" be in good shape. The question is for people nearing retirement must be more diversified and less exposed to risks. IF the Federal reserve raises interest rates what could happen? Or even will they given China's circumstances? If the Fed raises interest rates how negative effect could this have on the bond markets?? A lot going on and has been for a long time now. I honestly feel for the people on the Federal reserve. Not easy to know how to proceed forward due to many large scale factors. Good, bad or indifferent Janet Yellen saw the housing collapse coming a couple of years prior to it taking place. When most everyone was saying, " everything is fine, no worries". She had the foresight to see that the circumstance was truly unstable, unsustainable, and likely to lead to a large correction. For this much, I have some confidence in her.
I do agree though that investors who are in the market for the very long term "should" be in good shape. The question is for people nearing retirement must be more diversified and less exposed to risks. IF the Federal reserve raises interest rates what could happen? Or even will they given China's circumstances? If the Fed raises interest rates how negative effect could this have on the bond markets?? A lot going on and has been for a long time now. I honestly feel for the people on the Federal reserve. Not easy to know how to proceed forward due to many large scale factors. Good, bad or indifferent Janet Yellen saw the housing collapse coming a couple of years prior to it taking place. When most everyone was saying, " everything is fine, no worries". She had the foresight to see that the circumstance was truly unstable, unsustainable, and likely to lead to a large correction. For this much, I have some confidence in her.
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Only 50% of Americans own stock because the other 50% of them have failed to act on their own behalf, failed to take responsibility for planning for their future. Social security won't take care of you, big government won't take care of you, and company pensions are a thing of the past.
People don't plan to fail, but they do fail to plan.
People don't plan to fail, but they do fail to plan.
You arrogant ignoramus! You tell everyone how the majority of the US population is supposed to own stock when they can barely feed a family of 3, when they are on food stamps, when their husband is thrown in fail for a petty crime because of racist police; or that wages are NOT keeping up with cost of living; all the jobs have been moved overseas; even ONE minor infraction/ticket to a poor family could mean no food, or a warrant for their arrest. The government doesn't help them get out of a hole, no, the system is designed to keep the little guy down, and kick them when they are down.
Originally Posted By: zpinch
You arrogant ignoramus! You tell everyone how the majority of the US population is supposed to own stock when they can barely feed a family of 3, when they are on food stamps, when their husband is thrown in fail for a petty crime because of racist police; or that wages are NOT keeping up with cost of living; all the jobs have been moved overseas; even ONE minor infraction/ticket to a poor family could mean no food, or a warrant for their arrest. The government doesn't help them get out of a hole, no, the system is designed to keep the little guy down, and kick them when they are down.
Lots of folks can NOT afford to invest if they are living pay check to pay check. I'm blessed to have 2 pensions at 60 years old for $7500 a month, not counting SS, IRA and 401K. Stagnant wages are not keeping up with the cost of living. But there is no excuse for low income folks to commit crimes and say its because of their low income situation.
Read Daily Job Cuts cause the job market is not all sunshine & roses. Tons of good paying middle class jobs are disappearing everyday. Oil and gas industry type jobs are drying up.
www.DailyJobCuts.com
You arrogant ignoramus! You tell everyone how the majority of the US population is supposed to own stock when they can barely feed a family of 3, when they are on food stamps, when their husband is thrown in fail for a petty crime because of racist police; or that wages are NOT keeping up with cost of living; all the jobs have been moved overseas; even ONE minor infraction/ticket to a poor family could mean no food, or a warrant for their arrest. The government doesn't help them get out of a hole, no, the system is designed to keep the little guy down, and kick them when they are down.
Lots of folks can NOT afford to invest if they are living pay check to pay check. I'm blessed to have 2 pensions at 60 years old for $7500 a month, not counting SS, IRA and 401K. Stagnant wages are not keeping up with the cost of living. But there is no excuse for low income folks to commit crimes and say its because of their low income situation.
Read Daily Job Cuts cause the job market is not all sunshine & roses. Tons of good paying middle class jobs are disappearing everyday. Oil and gas industry type jobs are drying up.
www.DailyJobCuts.com
Off Topic:
I do post jobs for the company I work for so maybe a BITOG can apply and have a decent wage / benefits / retirement, etc....
I do post jobs for the company I work for so maybe a BITOG can apply and have a decent wage / benefits / retirement, etc....
Originally Posted By: zpinch
You arrogant ignoramus! You tell everyone how the majority of the US population is supposed to own stock when they can barely feed a family of 3, when they are on food stamps, when their husband is thrown in fail for a petty crime because of racist police; or that wages are NOT keeping up with cost of living; all the jobs have been moved overseas; even ONE minor infraction/ticket to a poor family could mean no food, or a warrant for their arrest. The government doesn't help them get out of a hole, no, the system is designed to keep the little guy down, and kick them when they are down.
I was homeless right out of high school, and spent the summer on a few friends' couches. I worked two full-time jobs and got myself an apartment by September. The following summer, both of my jobs and my apartment flooded. Renter's insurance covered my belongings, and savings held me over for the month that I was out of work.
The next year, I starting taking classes at the community college. After a few years of living frugally, working two jobs, and continuing my education, I got my first "real" job, which has turned into a career.
I'm still young. My only debt is the mortgage. I don't buy things that I can't afford, and I save for the future. Aside from a traffic violation, I've never run afoul of the law.
I've never collected social welfare. I worked for everything I have. I take responsibility for my own actions and plan for the future. Most importantly, I don't blame "the system" when things don't go my way; I take that as an opportunity for self-improvement. The stock market is suffering some volatility right now. My retirement accounts suffered an unrealized loss. Instead of panicking and selling those assets, I used it as an opportunity to move cash into equities when they were at a low point.
Personal responsibility.
You arrogant ignoramus! You tell everyone how the majority of the US population is supposed to own stock when they can barely feed a family of 3, when they are on food stamps, when their husband is thrown in fail for a petty crime because of racist police; or that wages are NOT keeping up with cost of living; all the jobs have been moved overseas; even ONE minor infraction/ticket to a poor family could mean no food, or a warrant for their arrest. The government doesn't help them get out of a hole, no, the system is designed to keep the little guy down, and kick them when they are down.
I was homeless right out of high school, and spent the summer on a few friends' couches. I worked two full-time jobs and got myself an apartment by September. The following summer, both of my jobs and my apartment flooded. Renter's insurance covered my belongings, and savings held me over for the month that I was out of work.
The next year, I starting taking classes at the community college. After a few years of living frugally, working two jobs, and continuing my education, I got my first "real" job, which has turned into a career.
I'm still young. My only debt is the mortgage. I don't buy things that I can't afford, and I save for the future. Aside from a traffic violation, I've never run afoul of the law.
I've never collected social welfare. I worked for everything I have. I take responsibility for my own actions and plan for the future. Most importantly, I don't blame "the system" when things don't go my way; I take that as an opportunity for self-improvement. The stock market is suffering some volatility right now. My retirement accounts suffered an unrealized loss. Instead of panicking and selling those assets, I used it as an opportunity to move cash into equities when they were at a low point.
Personal responsibility.
No, not everyone has disposeable cash to invest. Some are victims of bad situations such as job loss, health problems, no "good" jobs available. I don't think anyone would argue that. But the "majority" are Not on food stamps(which apparently you consider "government not helping" anyway). Yes, a lot of jobs have been moved overseas. Although I don't agree with (most) of those decisions, there are more factors involved than just "designing a system to keep the little guys down".+
Oh..congratulations on your name calling. It must have taken some real thought to come up with that.
Oh..congratulations on your name calling. It must have taken some real thought to come up with that.
Congratulations to Bandito440 and others like him. Just goes to show that it CAN be done. My own retirement plan is somewhat lacking, in my earlier years I "had no money to invest". Then I realized that it was my own fault, the way I was spending the money that I did have. I do not blame the 1%, or the government, I took responsibility for my own choices, and changed my lifestyle accordingly. Personal responsibility...not a lot of it out there it seems. Easier to blame others.
Unfortunately, it'd not a good time for anyone including those who don't have money to invest on a regular basis. Many retirees have needed ( and will continue to need ) a certain percentage in stocks to keep their IRAs and bank accounts afloat.
However, if you can invest $50 or $1000 a month, you've historically done something that will benefit you and yours over the longer cycle. You can frame it in the context of "the man" and "rigged" and "the man rigged it" but if you're able to establish financial discipline on whatever level is attainable for you, it tends to become a destination versus a journey where your personal circumstance and "the man" intertwine to a greater degree than they should. Personally, I'm more worried about 2028 when I retire than the current mess.
You have to think it'll help everyone once the first rate hike happens and everyone comes to the conclusion that, for the foreseeable future, China is gonna grow at 4-5% versus what they've done since 2008. There are too many things to sift through currently and hopefully the volatility will tamp down once we get through issues like the above.
However, if you can invest $50 or $1000 a month, you've historically done something that will benefit you and yours over the longer cycle. You can frame it in the context of "the man" and "rigged" and "the man rigged it" but if you're able to establish financial discipline on whatever level is attainable for you, it tends to become a destination versus a journey where your personal circumstance and "the man" intertwine to a greater degree than they should. Personally, I'm more worried about 2028 when I retire than the current mess.
You have to think it'll help everyone once the first rate hike happens and everyone comes to the conclusion that, for the foreseeable future, China is gonna grow at 4-5% versus what they've done since 2008. There are too many things to sift through currently and hopefully the volatility will tamp down once we get through issues like the above.
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