Author Topic: Doom and gloom  (Read 3013 times)

Offline Minerva

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Doom and gloom
« on: August 08, 2011, 03:10:32 PM »
I'm sitting here wondering if my meager investments will rebound in time for me to retire in a few years. It is easy to get thoroughly bummed out and yes, a bit fearful, as the media documents the Wall Street panic.
Anyone else feeling the pain?
Fish sauce...for when you want that flavor of cat food and athletic sock...in a good way. - Alton Brown

Offline LizR

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Re: Doom and gloom
« Reply #1 on: August 08, 2011, 03:14:03 PM »
We just sat tight last time, but we are seriously thinking of selling some of the stuff in our joint account today. This seems scarier to me for some reason.

Offline Chocoholic

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Re: Doom and gloom
« Reply #2 on: August 08, 2011, 04:00:09 PM »
I don't intend to sell right now, I intend to buy.  Stocks on sale - yippee!

Of course, it does help that hubby and I aren't retiring anytime soon, so we have lots of time to wait it out.

Offline LizR

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Re: Doom and gloom
« Reply #3 on: August 08, 2011, 04:38:35 PM »
I don't intend to sell right now, I intend to buy.  Stocks on sale - yippee!

Yeah, I know that that is the theory. I've never felt like this before.

Offline KoPP

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Re: Doom and gloom
« Reply #4 on: August 08, 2011, 04:41:44 PM »
I'm only 15% in stocks right now - it's just going to get worse before it gets better (Europe has its own problems as well, which will probably give the market some more downturn). But companies are holding onto record cash and are doing pretty well here and overseas, so high dividend stocks may be good shopping even if the stock goes down - you just have to decide when to buy in. My guy says that it'll go down a ways further, but the rally should be 'interesting'.

I could retire in 3 years (and be eating Beanie Weenies for the rest of my life), but I'll wait until my 60's, so it'll be about 15 more years of work. I can wait it out. My luck I'll have a heart attack during my retirement party... ;D

P.S. - here's a somewhat good perspective - it's been worse...

http://www.ajc.com/business/a-look-at-the-1087452.html
« Last Edit: August 08, 2011, 04:48:10 PM by KoPP »

Offline Minerva

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Re: Doom and gloom
« Reply #5 on: August 08, 2011, 04:49:14 PM »
I'm 80 (non-treasury) bonds, 20 stocks. I can probably work at least another five years but don't really want to. Always thought I'd retire and see some of the world before I got too infirm and grumpy to do it. I've decided the best course of action right now is ignore the dire media reports and just flip the channels.
Fish sauce...for when you want that flavor of cat food and athletic sock...in a good way. - Alton Brown

Offline Corky

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Re: Doom and gloom
« Reply #6 on: August 08, 2011, 06:07:52 PM »
Right now I'm working on the horizontal retirement plan. In other words, they'll take me out horizontally when I retire. Or, maybe I should go ahead and pick my country of choice. Hmm, Thailand-I speak the language, Costa Rica-I speak the language, Palau-not too good with their language...
You can find your way across this country using burger joints the way a navigator uses stars.
Charles Kuralt

Offline KoPP

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Re: Doom and gloom
« Reply #7 on: August 08, 2011, 07:26:27 PM »
Panama, Equador, Mexico, and Thailand are highly rated for cheap retirement spots. I'd consider living out of the US if Mom passes before I retire.

I spent a week on Koh Samui in the Gulf of Thailand, and it was beautiful. A whole lotta Swiss expats live there...

Offline KoPP

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Re: Doom and gloom
« Reply #8 on: August 08, 2011, 08:28:07 PM »
And...

Terras Astraea reliquit.

Offline Mike GadgetGeek Stock

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Re: Doom and gloom
« Reply #9 on: August 09, 2011, 10:03:06 AM »


If you are a day trader you made $$ between yesterday's close and now at 11am Eastern time.  With some stop-loss orders in your portfolio, and some attention to detail this could be the BEST time to be in the market.

It's good to be in bonds and have reduced risk right now, and to have some cash and/or up to just under 5% in gold or gold mutuals, but if you are NOT interested in being a trader it is a scary time to be sure.  Costa Rica does look nice still, and has some interesting tax advantages for a business owner/partner.  I do love the USA though, I certainly would rather live here than elsewhere. 
Finding offense where none is intended is a form of selfishness.

When facts change, I change my mind.  What do you do?

It's a poor craftsman that blames his tools.

Offline KoPP

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Re: Doom and gloom
« Reply #10 on: August 09, 2011, 10:36:27 AM »
Still going to be some bouncy-bouncy. Greece and Ireland are still needing to be dealt with, and consumer spending isn't going to get us out of this one, and the US is too heavy on service-industry jobs. BA and Cat bounded back up due to good balance sheets (BA) and overseas sales (Cat).

Jobs, jobs, jobs.

Offline AndyBoy

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Re: Doom and gloom
« Reply #11 on: August 09, 2011, 12:03:45 PM »
The average Joe makes a major mistake trying to time the market. You make money over the long haul so I don't worry too much about it day to day. I am very diversified anyway. Anyone who bets long-term against the U.S. is a fool in my opinion.

Offline KoPP

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Re: Doom and gloom
« Reply #12 on: August 09, 2011, 01:25:22 PM »
That's why I have a guy doing the investing. He's got great track record over 20 years, and is a stand-up kind of guy outside of investing.

Given a choice of living ok here in the states vs. living well outside, I gotta say it's tempting.

Offline KoPP

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Re: Doom and gloom
« Reply #13 on: August 09, 2011, 02:54:26 PM »
Bouncey bouncey. You could have made a lot or lost a lot today. I'm kinda surprised it bounced back up so quickly after the Fed report, but it could also mean folks found a bottom. Dunno - glad I'm not a broker.

Some doom and gloom of a personal nature. The person that cleans house threw out my last box of pain meds, and the doc won't write a script for another. I guess I'm coming off them earlier than I thought... :P
« Last Edit: August 09, 2011, 03:21:48 PM by KoPP »

Offline totm

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Re: Doom and gloom
« Reply #14 on: August 09, 2011, 03:49:43 PM »
It's a roller coaster I say, a roller coaster.
"It's your last day on earth, what is your final bite to eat?" Eric Ripert

"A good potato with a slab of butter.  I'm a happy man." Joel Robuchon

 

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