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Don't say I didn't warn you

Steeltime

Steeltime

I miss Apache
Forefather
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I got out in 2019 by about 80% just on a whim. Back in in 2021. And now 50%out. Might do more might hold fast
 
I’m full on tard when it comes to this kind of thing, and not saying I’m doing anything, but would like more info.

So my 401k that’s been taking a beating I should pull and put into a money market fund?
 
Ironcitysteelers said:
I’m full on tard when it comes to this kind of thing, and not saying I’m doing anything, but would like more info.

So my 401k that’s been taking a beating I should pull and put into a money market fund?
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Yes. You can move the money from a 401k or IRA (I had both) to a money market fund or CD without penalty. The CD's are now paying about 5.75% for longer term, but you can get short term (3 month or even 6 month) that pay over 5%.

I recommend the short term. If interest rates continue to rise, you can then move them to the higher yield CD's. If interest rates stabilize or fall (yeah, right), you get the benefit of the 5% and can then move it to another money market or CD.
 
Ironcitysteelers said:
I’m full on tard when it comes to this kind of thing, and not saying I’m doing anything, but would like more info.

So my 401k that’s been taking a beating I should pull and put into a money market fund?
Click to expand...
Depends on where you are in life, the younger you are the better chance you will bounce back. I retired in '18 and pulled out of the market before the 2020 election and that move kept me from losing about 25% of my savings that I likely would not get back. The market will always come back historically if you have enough time.
 
ZonaBurgh said:
Depends on where you are in life, the younger you are the better chance you will bounce back. I retired in '18 and pulled out of the market before the 2020 election and that move kept me from losing about 25% of my savings that I likely would not get back. The market will always come back historically if you have enough time.
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True, but when you see the tsunami developing 10 miles out to sea, for heaven's sake pick up your stuff and move inland.
 
ZonaBurgh said:
Depends on where you are in life, the younger you are the better chance you will bounce back. I retired in '18 and pulled out of the market before the 2020 election and that move kept me from losing about 25% of my savings that I likely would not get back. The market will always come back historically if you have enough time.
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Mid 40s. Broke as **** because I’m married
 
Steeltime said:
True, but when you see the tsunami developing 10 miles out to sea, for heaven's sake pick up your stuff and move inland.
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Can you pull out a % into what. You suggested and let the rest ride?
 
Ironcitysteelers said:
Can you pull out a % into what. You suggested and let the rest ride?
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As Zona notes, if you are looking at starting to take money out in 20 years, then you just ride the storm. I believe you make more money by protecting your retirement from market plummets like we saw in 1987, 2007, and 2015. Move the money to a safer investment and once the market has reached a low point, buy back in.

And you don't need to hit waves perfectly. If you sell on the downswing, but before hitting bottom, and buy on the upswing, but only after the market begins to rally, you still save a lot of money. I sold in January of 2020 because I believed the Chinese flu would hurt stocks, bought back in about November of 2020. Saved a lot of money. Sold out again in March of 2022, and again saved a hit.

When I moved the money to money market in 2022, the interest rate was abysmal - around 1.5%. Better than taking it in the shorts to the tune of 15%, however. Because of persistent inflation and rising interest rates, short-term rates are above 5%. Because I am retiring around March of 2024, I can put the money in 12-month money market/CD's. Not going to take it out before then.

As of March, 2024, I will still put the money in a fixed return account, but with the option of removing a certain percentage without penalty. The higher-rate accounts generally have longer terms and make the money inaccessible without some pretty bad penalties.
 
Good historical steady dividend stocks can be a good option too. My dividend stocks tend to fluctuate greatly, but have paid 7% to 7.5% dividend yield for years, religiously. Right now the price is down 9%, but I have no plan to sell any time soon. I roll my dividends into cash holding and buy more stock on the dips. That way I get to make money twice.
 
MT~Forged said:
Good historical steady dividend stocks can be a good option too. My dividend stocks tend to fluctuate greatly, but have paid 7% to 7.5% dividend yield for years, religiously. Right now the price is down 9%, but I have no plan to sell any time soon. I roll my dividends into cash holding and buy more stock on the dips. That way I get to make money twice.
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What dividend stocks do you like?
 
BLITZ said:
What dividend stocks do you like?
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I don't know which stocks MT has, but traditionally the ones that pay the best dividends also tend to be quite expensive per share - Apple, Microsoft, Google, and a number of energy companies like Chevron, BP, Devon Energy.
 
I am in on xom , dvn, cvx and o. Put of most othetd
 
BLITZ said:
I am in on xom , dvn, cvx and o. Put of most othetd
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Blitz loves those energy stocks - and I agree with him. No matter what the weather, people need to travel and need electricity.

P.S. An unnamed grifter responds to Blitz and Steeltime's positive comments about energy stocks:

images
 
BLITZ said:
What dividend stocks do you like?
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I currently have 7500 shares of “CHSCL” and it pays $.46875 per share, quarterly. The current yield is running @ 7.48%. I have been receiving this since 2015. I hold my dividend payments in a cash account so I can control my purchase price, as opposed to automatic re-investment. This has been beneficial to me as I can buy on the dips as well as limit my commission fees. Since I am only 58yo, I am not in a position to start taking the cash as income, but that will change @ 59-1/2 when I can then add the dividends to my retirement income. By then I hope to have added approximately another 600 shares.
I also have a position in a large group of other dividend stocks, but while they don’t pay as well, their share price doesn’t fluctuate as badly.
 
Steeltime said:
I don't know which stocks MT has, but traditionally the ones that pay the best dividends also tend to be quite expensive per share - Apple, Microsoft, Google, and a number of energy companies like Chevron, BP, Devon Energy.
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you can buy fractional shares of those higher dollar stocks.
 
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Dow Industrials down another 400 points (1.2%) today. Has gone from 35,630 August 1 to 32,394 at present - a decline of 9.1% in less than three months.
 
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