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  • #76






    Quote Originally Posted by race81
    View Post

    Some of us who lost thousands....had no choice but to leave money there. Most employer run 401's will not let you remove your money when you expect the market to go down the tubes. I lost nearly 10g when the market dumped a few years back, and just now is it back up to where it was then................I dont contribute to anything I dont have control over anymore.



    Aging out.............funny reading the replies to this. For many years I played in a country music opry setting. Made very good money doing so for nearly 15 years. Somewhere near the last three years the crowds started to dwindle. Thought we were doing something wrong, but then come to realize our audience was dying off.....sad..but true story.




    I would think that your 401k would have some sort of money market option to transfer funds into , or at least a place with less risk. In the winter we play for an older crowd. What I am seeing is that we are getting fewer who come down early, they are doing house parties more and saving money by staying out of the bars. They havent slowed down on the drinking but they do seem to be watching their dollars. We are an americana texas band that does a lot of texas songwriter stuff, older classic rock and original stuff. our crowd is alive and well , but they are getting snug with the buck. It should be interesting to see how jan goes. I hope to see things pick up as they face up to the fact that its cold and snowin up north. FEB is peak winter texas season. If they are not here by the first week in jan odds are they aint commmin.
    "you mess with him and you mess with the whole trailer park"

    Comment


    • #77






      Quote Originally Posted by race81
      View Post

      Some of us who lost thousands....had no choice but to leave money there. Most employer run 401's will not let you remove your money when you expect the market to go down the tubes. I lost nearly 10g when the market dumped a few years back, and just now is it back up to where it was then................I dont contribute to anything I dont have control over anymore.










      Quote Originally Posted by TIMKEYS
      View Post

      I would think that your 401k would have some sort of money market option to transfer funds into , or at least a place with less risk.




      Tim's right. While you can't just pull your money out of the 401K without penalty, you have the option to move it into different funds. When the market started to tank, I pulled all the money of out of my wife's 401K that we had in stocks and put them into much safer money market and bond funds. When it started going up again, I moved a lot of back to stocks. Tech stocks had a pretty good year.



      It really pays to learn a bit about the markets and watch your money. You can't just put all of your 401K into whatever and hope things go well. You have to be proactive.
      _________________________________________________
      band websites:
      http://www.JumpStartYourParty.com
      https://www.gigmasters.com/Rock/Jump-Start
      https://www.facebook.com/JumpStartYourParty
      http://www.weddingwire.com/biz/jumps...587fe5f12.html

      Comment


      • #78






        Quote Originally Posted by guido61
        View Post

        Tim's right. While you can't just pull your money out of the 401K without penalty, you have the option to move it into different funds. When the market started to tank, I pulled all the money of out of my wife's 401K that we had in stocks and put them into much safer money market and bond funds. When it started going up again, I moved a lot of back to stocks. Tech stocks had a pretty good year.



        It really pays to learn a bit about the markets and watch your money. You can't just put all of your 401K into whatever and hope things go well. You have to be proactive.




        The problem with the 2008 melt down was that it effected good solid non risky stocks. It was an across the board melt down. I took a 22 percent hit on that one. while its easy to go into the typical 401k and move things ,, its pretty hard to take a portfolio that has built up over a lifetime of investments and make any quick adjustments. I got out of the stuff that had exposure to the morgage meltdown prior to the **************** hitting the fan. I got nailed on the solid stuff that people dumped out of panic selling. When you are retired you tend to have to live by the sword and die by the sword. You pretty well have to have enough chips in the game to pay the bills. Now I just keep a large cash holding to ride out a big sell of , so i dont have to sell at low prices to pay bills. I am giving up income to have a better long term options. I have cut down my living expenses and am down to one house and can get by on less income. Now the big question going foward is how long to sit on the bond funds. For sure I have one foot in the exit door. For sure how you approach investments changes when you dont have a paycheck rolling in. I think its somthing you cant wrap your hands round till you actually do it.
        "you mess with him and you mess with the whole trailer park"

        Comment


        • #79






          Quote Originally Posted by TIMKEYS
          View Post

          The problem with the 2008 melt down was that it effected good solid non risky stocks. It was an across the board melt down. I took a 22 percent hit on that one. while its easy to go into the typical 401k and move things ,, its pretty hard to take a portfolio that has built up over a lifetime of investments and make any quick adjustments. I got out of the stuff that had exposure to the morgage meltdown prior to the **************** hitting the fan. I got nailed on the solid stuff that people dumped out of panic selling.




          It was a bad time because both stocks and real estate got hit hard. Historically, one has usually been a bit of a safe haven for the other. Part of the reason for the real estate boom was because that's where a lot of money went after the tech-bubble burst in the early 00s. In '08, there weren't too many places to go. T-bills and cash were, at least, places where you wouldn't get hit too hard. If you only took a 22% hit, you did pretty well. I took closer to 30%, but was able to get it all back and then some pretty quickly when the market started to go back up again.



          Gold did well, but gold doesn't come without its own set of risks as well.



          Where the future will take us, who knows? I know I've about 20 more years to build up the nest egg and then the goal is to have enough capital working for me that I can live modestly off the investments themselves. The bottom line is to not be too greedy and live modestly. The wife and I combined make a pretty good income. We don't live in a mansion. We drive older, paid-for cars. We don't take expensive vacations every year. The people who got hit the hardest were the ones who extended themselves beyond what made sense for reasons largely due to ego and greed. Hopefully people learned from that. Only do what makes sense.



          When we bought out first house in 2003 we found out that we were "pre-approved" for a $500,000 loan. We laughed realizing that to buy such a house would mean putting pretty much every cent we made into the mortgage payment every month. Or do some silly ARM or interest-only loan. Instead we bought a house with monthly payments we knew we could afford even if one of us lost their job. They were giving out loans to everybody in those days. And a lot of people got eyes bigger than their wallets and couldn't resist the temptation to live in that $500K house.



          Same thing with the new one we are buying. We're upgrading a bit because we've outgrown the house we're in and we want to live in a different area, but it's nowhere near the house I'd LOVE to come home to every night that the bank---even in these much-more-strict times---would be happy to approve us for. But you gotta be realistic with your life and think about the long term and what's really important to you. Making sure we've got a decent retirement plan and that the kid has her schooling at least somewhat covered is important. Marble countertops? Not so much.
          _________________________________________________
          band websites:
          http://www.JumpStartYourParty.com
          https://www.gigmasters.com/Rock/Jump-Start
          https://www.facebook.com/JumpStartYourParty
          http://www.weddingwire.com/biz/jumps...587fe5f12.html

          Comment


          • #80






            Quote Originally Posted by TIMKEYS
            View Post

            This adm and fed chairman are destroying the dollar and the future of our nation.




            LOL...Put the pipe down.



            This president will go down as one of the most influential and incredible leaders we've had in modern America. There has been more positive social change in this country than anytime in the recent past. "Destroying the dollar and the future of our nation" that's just silly. I think you're confusing him with the last guy.
            Just Darrell Web Site

            Comment


            • #81






              Quote Originally Posted by race81
              View Post



              Aging out.............funny reading the replies to this. For many years I played in a country music opry setting. Made very good money doing so for nearly 15 years. Somewhere near the last three years the crowds started to dwindle. Thought we were doing something wrong, but then come to realize our audience was dying off.....sad..but true story.




              That's bizarre, and sad, to think about.
              I thought it was going to be different;It turned out to be(,) just the same.

              Comment


              • #82






                Quote Originally Posted by Potts
                View Post

                LOL...Put the pipe down.



                This president will go down as one of the most influential and incredible leaders we've had in modern America. There has been more positive social change in this country than anytime in the recent past. "Destroying the dollar and the future of our nation" that's just silly. I think you're confusing him with the last guy.




                Carnak see's the need for a macro econ course in your future
                "you mess with him and you mess with the whole trailer park"

                Comment


                • #83






                  Quote Originally Posted by TIMKEYS
                  View Post

                  Carnak see's the need for a macro econ course in your future




                  Darrell sees Tim needing a newspaper.
                  Just Darrell Web Site

                  Comment


                  • #84






                    Quote Originally Posted by Potts
                    View Post

                    Darrell sees Tim needing a newspaper.




                    why? I dont have a puppy or a bird. Newpapers are pretty well obsolete these days. Your best bet is to stick to pickin guitar and singing. You really dont have a clue about macro econ or whats going on with the national debt and the fed.
                    "you mess with him and you mess with the whole trailer park"

                    Comment


                    • #85






                      Quote Originally Posted by TIMKEYS
                      View Post

                      why? I dont have a puppy or a bird. Newpapers are pretty well obsolete these days. Your best bet is to stick to pickin guitar and singing. You really dont have a clue about macro econ or whats going on with the national debt and the fed.




                      LOL.. and you know this how? Is it because I don't engage in trivial economic talk with a die-hard righty that thinks this world is coming to an end because of our current president?
                      Just Darrell Web Site

                      Comment


                      • #86






                        Quote Originally Posted by Potts
                        View Post

                        LOL.. and you know this how? Is it because I don't engage in trivial economic talk with a die-hard righty that thinks this world is coming to an end because of our current president?




                        will the world come to an end ,, that prolly wont happen. Will we end up in a double dip recession with no job recovery, high taxes on everyone, and 20 trillion in debt, and stag flation by the time he gets out of office. Thats a pretty good bet. The biggest reason why you should not talk econ with me is because you dont know **************** about it.
                        "you mess with him and you mess with the whole trailer park"

                        Comment


                        • #87






                          Quote Originally Posted by TIMKEYS
                          View Post

                          The biggest reason why you should not talk econ with me is because you dont know **************** about it.




                          LOL.. and you know this how? Is it because I don't engage in trivial economic talk with a die-hard righty that thinks this world is coming to an end because of our current president?
                          Just Darrell Web Site

                          Comment


                          • #88






                            Quote Originally Posted by Potts
                            View Post

                            LOL.. and you know this how? Is it because I don't engage in trivial economic talk with a die-hard righty that thinks this world is coming to an end because of our current president?




                            Because you dont. Whats your background? You dont have one.
                            "you mess with him and you mess with the whole trailer park"

                            Comment


                            • #89






                              Quote Originally Posted by TIMKEYS
                              View Post

                              Because you dont. Whats your background? You dont have one.




                              1. For nearly 5 years I worked as a research economist at the Federal Reserve Bank of Cleveland.



                              2. You're trolling because Guido bitch-slapped you.
                              Just Darrell Web Site

                              Comment


                              • #90






                                Quote Originally Posted by Potts
                                View Post

                                1. For nearly 5 years I worked as a research economist at the Federal Reserve Bank of Cleveland.



                                2. You're trolling because Guido bitch-slapped you.




                                Potts if you go over to the political party forum you will find out that TIMKEYS/Rhat is famous for always being wrong. We still love him anyways.

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