Jump to content

What have you lost?


Urban Surfer

Recommended Posts

This economic crash has certainly changed my plans of early retirement. Considering the work I do (re-bar) it's hard to digest. However:

When I think of the risks I take, and look forward to taking on my motorcycle, it's a pittance.

Link to comment

For those who are planning on retiring in the next year or two, it's probably pretty nerve racking. Especially if they chose not to reallocate their nest egg into safer instruments as they were approaching retirement. Those who will retire in five or more years likely won't be affected much as long as they don't panic and dump their investments at the bottom of the market.

 

But, a downturn is not bad news for everyone. In our case, we've been building a business the last decade and all of our savings are tied up in the company. We happen to be quite busy now, and are bagging pretty good profit. I see this as an opportunity to make up for lost time with regard to my own retirement. It's like we're in a time machine, and it's 1996 again. :)

Link to comment
Francois_Dumas

Nuttin', no money I (might) need is ever tied up in stocks. Unless my bankers lose it FOR me, I am safe. Not rich. Who cares?

Link to comment
Dennis Andress
I see this as an opportunity to make up for lost time with regard to my own retirement. It's like we're in a time machine, and it's 1996 again. :)

 

+1

Link to comment

My 401k took a hit but I was somewhat hedged a little in bonds and some more deversified funds, so it wasn't as bad as my wife's more aggressive selections on her's. I'm 30 years out form retirement, so a low market now overall is a good thing for me.

 

I reduced my 401k contributions to pay off more debt. It's not gaining me anything right not so I'm better paying off a couple 8-9% APR debts than put money into -20 - 0% APY markets evne if it bys me funds at a bargin low rate now. later as it appears ot recover and I pay down a few things, I'll bump it back up. I'm of course still getting my full matching. That's an easy 33% for me. Of course dropping my contributions wll give the tax collector a little more money, but our first child on the way, we have some fat deductions starting next year.

Link to comment

I was planning on retiring in the spring. Those plans are on hold now. No pension, so had to live on many years of savings and investments, and they have taken a big hit.

 

I thought '09 was going to be a big mileage year on my new to me 1200RT.

 

And now our idiots in Ottawa are acting like baboons. No insult intended to baboons!

Link to comment
Three days after our early retirement and the bottom falls out. I'm in panic mode right now.

 

Just come back out of retirement. Brett Favre did it. Lance Armstrong's doing it.

Link to comment
Especially if they chose not to reallocate their nest egg into safer instruments as they were approaching retirement.

Well in some cases even if they did... even relatively safe bond funds have taken a shellacking. Not as bad as stocks of course, but there hasn't really been any safe place to be in the last six months besides cash.

 

It's like we're in a time machine, and it's 1996 again.

Well, except for our physical age... :smirk:

 

 

I am safe. Not rich.

Those two positions tend to be tied together.

 

 

Link to comment
Francois_Dumas

 

I am safe. Not rich.

Those two positions tend to be tied together.

 

 

... I should have added "... and sufficiently happy under circumstances, because I am free".

Link to comment
Nuttin', no money I (might) need is ever tied up in stocks. Unless my bankers lose it FOR me, I am safe. Not rich. Who cares?

I like the way you think, Francois.

 

My own laziness and tendency to procrastinate helped keep me safe. A few months ago I received a check from my mom's estate. I hated the reason for the money and didn't know what to do with it. I thought about investments and half-heartedly, half-assedly looked into some, but I felt paralyzed. The amount exceeded deposit insurance levels, which also worried me, so I left the check in a drawer until I nearly forgot about it. My mom's lawyer called me and said I needed to do something, that I couldn't just leave the check in a drawer and pretend it wasn't there. Then all Hell broke loose on Wall Street, the gov't doubled deposit insurance amounts, yadda yadda.

 

My 401k, on the other hand, is a different story. I assume so anyway. I mean, I don't know for sure because the unopened statements are in the same drawer where my mom's check once sat.

Link to comment

"Well in some cases even if they did... even relatively safe bond funds have taken a shellacking. Not as bad as stocks of course, but there hasn't really been any safe place to be in the last six months besides cash."

 

I moved some time ago some of the little we have to Fidelity Government Income FGOVX. Not bad for our current times.

Link to comment
Francois_Dumas
I mean, I don't know for sure because the unopened statements are in the same drawer where my mom's check once sat.

 

:grin:

Sometimes what you don't know can't hurt ya ..... ;)

Link to comment

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...