Thoughts on 'the market' and retirement fund, election, etc.?

[tRidiot]

Just sat down with 2 friends in their late 60s. Both feel they must get out of the stock marker BEFORE the election. Since there would a short time before the end of the year after the election they could get back in if Trump wins or run like **** if Biden won I don’t know if that’s sound strategy or not but they are not going to take any chances

I'd like to invest in something reliable... I don't have faith in the stock market. Or in precious metals if the .gov overturns. Investing in land will be fairly useless if things collapse, your title isn't going to mean anything. Boolits is one thing, tradeables like liquor or whatever is good, but honestly if civilization collapses. But in that event, it's all up in the air, anyways.

 

[KOPBET]

If you manage your own portfolio, many recommend you put a trailing stop sell order to sell at a specific percentage or dollar amount drop. If the market takes a dive you are protected against major losses.

 

[John6185]

I'm NOT very hot on the idea of drawing out of my retirement.

Speaking from experience, if one has something and gets rid of it, it is gone and someone else has the fruits of your labor. That is your retirement fund and someday you are going o need it for yourself and family.

 

[CHenry]

It really depends on the interest rates and tax advantages (if any) you currently have. If you pay stuff off, the question then becomes what you do with the extra available income? If you're gonna either put it right back into the retirement fund or throw money at investments if they suddenly become lucrative, good. If not, probably bad?

Compound interest is hard to beat. Just sayin...

I agree wiht this and the math usually says NO. Leave the 401k alone, you'll still get hit with your tax rate of 20% or whatever it is and the compund interests growth suffers while you pay it back. And most are not disciplined enough to return the money quick. You'll end up a smaller retirement and a new motorhome debt.

 

[harley128]

Pull it out of the market and kill those debts. If Biden pulls off a win, you will be GLAD that you are out of the market———-cause it’s gonna Tank!!!!

 

[CHenry]

Speaking from experience, if one has something and gets rid of it, it is gone and someone else has the fruits of your labor. That is your retirement fund and someday you are going o need it for yourself and family.

Exactly right

 

[CHenry]

Pull it out of the market and kill those debts. If Biden pulls off a win, you will be GLAD that you are out of the market———-cause it’s gonna Tank!!!!

Hardly

 

[CHenry]

I'd like to invest in something reliable... I don't have faith in the stock market. Or in precious metals if the .gov overturns. Investing in land will be fairly useless if things collapse, your title isn't going to mean anything. Boolits is one thing, tradeables like liquor or whatever is good, but honestly if civilization collapses. But in that event, it's all up in the air, anyways.

LMAO
The DOW has been setting record highs since 1920 on an average of 12% over the last 100 years, and with all the dumb ass presidents we've had. The POTUS doesnt run the market.

 

[harley128]

LMAO
The DOW has been setting record highs since 1920 on an average of 12% over the last 100 years, and with all the dumb ass presidents we've had. The POTUS doesnt run the market.

LMAO

Well then buy ya some stock in Smith and Wesson, Ruger, about any energy oil stock and just see what happens if Biden wins. These are only a few examples.

 

[Glock 40]

Leave it alone and don't look at. Come back in 15 years and be glad you didn't mess with it. Debt sucks but I don't see paying off business debt that you have spoke about may collapse due to lack of business? If its gonna fail let the bank eat it. Find a financial advisor that can help you protect your retirement. As for paying off a mortgage how many years do you have left? I know things are tight now but when things improve throwing an extra 2-300 a month on principle will pay that thing off a lot sooner. If you really want to get out of debt start selling toys and eating ramen and give up drinking. Much better choices to pay down debt than getting into your retirement. Unless.... You say screw it and take it all out pay the 30% taxes and penalties and be debt free. Otherwise don't do a half measure. Leave the retirement alone.