Ever since I was a kid, invest in sure things, reinvest that money, put it in the money markets,, mutual funds,,, yadayadayada. So I did my due diligence, when I had some extra I put it in, and I was doing fair with what I had,, I dont check because I dont want to be excited or pissed off,, Well today I checked,, and I am not happy but really pissed, in less than 3 months, I am back to where I was 10 years ago. I know its not just me, but damn it Joe I am starting to take this personal
Good bye savings
- Thread starter skeets
- Start date
I have had $40K in a savings account, it earned a whopping .40 per month. My 401K has taken a huge friggin hit since ol no brains took office and not at all pleased with that. It was doing great for 4 years and tanked. Would have been better to just buy gold and hide it under the bed
Just a word of advice from someone who just got got out of "time out." Be careful making any disparaging remarks about certain individuals who may or may not be allegedly responsible for your current situation.
Like Skeets, and maybe more so, I decided to be very conservative in investing for our retirement.
Twenty years ago I put our then savings into inflation protected I Bonds. Over that time the principal tripled, and there was as close to zero risk as possible. When I retired I put my 401K into a Vanguard inflation protected securities fund. This is where the majority of our retirement money resides.
Certainly lost opportunities for more growth, but in the I bonds, the accrued value never goes down. Either grows or holds steady, even if there would be deflation. AND at the time the fixed rate was very good (Average is 3.5 percent plus inflation). The Vanguard TIPS fund can vary, but has always grown over time.
I always believed, and still do, that the stock market value only holds true when one cashes out. In the interim, ups and downs feel good or bad, but really make no difference until you take your money out. Take it out on a high, great. Have to take it out on a low...not great.
My feeling is the new guy always rides on the performance of the previous guy(s), especially in the first year or two...BUT if anyone could control a complex economy to always provide the best performance consistently that would be a miracle. Just never seems to happen...the previous guy, and the guy previous to him, either got lucky or didn't. Mostly beyond their control...
Granted they can try...and I suppose they do.
Edit: For those that do not know, I Bonds and Inflation Protected Securities are instruments of the US Government. Fully backed by the US Government.
NCL4701
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L4701, T2290, WC68, grapple, BB1572, Farmi W50R, Howes 500, 16kW IMD gen, WG24
Markets have ups and downs. Compared to 12/21, not good. Compared to 1/21 still OK. Kind of glad I’m not needing to live off it just yet. Somewhere between 1 and 10 years to go for me.
Biker1mike
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Equipment
B6200, Kubota 2030 Front Blade, King Cutter 60" finishing deck
I have lost only 5% this year including timed retirement withdrawals. 401K is twice the amount it was in 2012 even with a HUGE withdrawal to pay off house, and do major repairs to avoid surprises.
I do not plan on a banner year but I expect year end with be on the positive.
Sorry to hear about a total loss over 10 years but do not blame Joe. Blame your investment advisor.
I do not plan on a banner year but I expect year end with be on the positive.
Sorry to hear about a total loss over 10 years but do not blame Joe. Blame your investment advisor.
RCW
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Lifetime Member
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BX2360, FEL, MMM, BX2750D snowblower. 1953 Minneapolis Moline ZAU
Skeets - - it’s not a consolation, but your position today is solely a loss on paper.
It doesn’t mean anything unless you cash-out today.
We have a stock market account with a few stock holdings. Not a lot of dollars, but we’ve owned them a long time.
One stock, I literally bought after a steep fall with the cash in my wallet 25 years ago.
Seen a lot of highs and lows over the years.
My last statement (January) had us the highest we’ve ever been. Betting the February statement will look differently.
In fact, the other day I considered buying another stock, but got jittery with the Russian invasion of Ukraine.
Hang tight, don’t cash in, and maybe talk to the folks that are managing the account, like BikerMike suggested.
It doesn’t mean anything unless you cash-out today.
We have a stock market account with a few stock holdings. Not a lot of dollars, but we’ve owned them a long time.
One stock, I literally bought after a steep fall with the cash in my wallet 25 years ago.
Seen a lot of highs and lows over the years.
My last statement (January) had us the highest we’ve ever been. Betting the February statement will look differently.
In fact, the other day I considered buying another stock, but got jittery with the Russian invasion of Ukraine.
Hang tight, don’t cash in, and maybe talk to the folks that are managing the account, like BikerMike suggested.
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Daren Todd
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Massey Ferguson 1825E, Kubota Z121S, Box blade, Rotary Cutter
That buy and hold, paper money and other such scams do nothing but keep the investment company in a constant supply of income. Yes it is true, if your account shows a considerable loss this quarter you will have the same amount as the guy just getting in with that same amount proving that you did indeed lose that much. I was led around too many years with that BS only to watch the portfolio rise and fall way too much. I pulled the plug on the money grabbers and handle my own and make my own gains and mistakes, at least there isn't someone grabbing a percentage off the top. Had I just put everything from day one in an index fund, like a S & P 500, I would be way ahead of where I am now.
Possibly . However for the period from Jan 2000 thru Dec 2009 the SP500 lost 3% per year. Over the long term the SP500 has been fabulous. About 60X your money in 60 years or close to it.
OK. That may be true....but who living today approaching retirement has money invested 60 years ago that means anything in total?
Last 30 years or so might be more meaningful to those approaching retirement age...
ALL I can think is thank GOD for Social Security! Makes a huge difference for us!
When I fired the investment firm he claimed that one should not compare to the S&P 500 and I asked him why not because you haven't even been keeping up with it.
Beware of the urge to sell AFTER it has gone down just to buy into more conservative portfolio.
Do not forget that the number of shares you own has not changed.
Any "loss" is on paper UNTIL you sell and buy into something else. (you will be selling MORE shares to get fewer)
It is FAAARRR better to 'ride it out'.
Do not forget that the number of shares you own has not changed.
Any "loss" is on paper UNTIL you sell and buy into something else. (you will be selling MORE shares to get fewer)
It is FAAARRR better to 'ride it out'.
RCW
Well-known member
Lifetime Member
Equipment
BX2360, FEL, MMM, BX2750D snowblower. 1953 Minneapolis Moline ZAU
Skeets - - I would want to see a detailed history of your account over the last 2 years...more if needed.
I would also check to see what kind of admin fees are attached.
I've never had a "managed" account, but for a while we had one stock in a Financial arm of the company (Prudential).
They dinged us $50/year to do nothing. We only had a couple thousand $$$ in the account...Didn't make sense.
The brokerage I'm with now hasn't charged anything in 15 years. If we were to buy/sell, sure. Otherwise $0.....again, that's strictly a few stock holdings account, so not the same a managed account.
I would also check to see what kind of admin fees are attached.
I've never had a "managed" account, but for a while we had one stock in a Financial arm of the company (Prudential).
They dinged us $50/year to do nothing. We only had a couple thousand $$$ in the account...Didn't make sense.
The brokerage I'm with now hasn't charged anything in 15 years. If we were to buy/sell, sure. Otherwise $0.....again, that's strictly a few stock holdings account, so not the same a managed account.
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This is why I do it all myself. The only "fees" are Uncle Sam taking his cut.
My Dad was also a lifelong investor (doing it himself) His mantra was always "Avoid taxable events"
Anyone who has been paying attention to the market for ONLY the past 3 years would think it always goes up. The reality is there are periods where all one can do is 'ride it out'. (Because selling when it is down is the WORST thing one can do)
Biker1mike
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Equipment
B6200, Kubota 2030 Front Blade, King Cutter 60" finishing deck
It could be worse. Remember this ? I worked with a few people that loved high risk until this put their retirement out a decade or more.
Hang tight.
Hang tight.
Had a sizeable 401K from the Kubota place when I worked there. I never put a lot of time into it, just put my trust in the people that handled it-they had great reviews.
Then I found out some things that were, well, questionable. With that said, I transferred it ALL to a self-funded IRA, which has no fees, no commissions, nothing. It's all on me now. It's doing about 19% last year, but down so far this year. I have a lot of time left to let it grow, so I'm not going to do anything drastic. Yet.
Traditionally war has been great for investors.
Have some I bonds too, just started playing with that-never heard of it in the past, nobody I knew ever gave me any kind of idea, other than to buy a beach house and rent it out. Well, that's entirely OUT of my budget, period. That was the only financial advice I have ever gotten from anyone. The rest, all on me, and all common sense for the most part (except letting the dealer handle my 401k)
Then I found out some things that were, well, questionable. With that said, I transferred it ALL to a self-funded IRA, which has no fees, no commissions, nothing. It's all on me now. It's doing about 19% last year, but down so far this year. I have a lot of time left to let it grow, so I'm not going to do anything drastic. Yet.
Traditionally war has been great for investors.
Have some I bonds too, just started playing with that-never heard of it in the past, nobody I knew ever gave me any kind of idea, other than to buy a beach house and rent it out. Well, that's entirely OUT of my budget, period. That was the only financial advice I have ever gotten from anyone. The rest, all on me, and all common sense for the most part (except letting the dealer handle my 401k)