My 401K is down 8% this year.
I was planning to retire in Feb 2024.
I guess it'll not happen.
Bummer.
20 replies (most recent on top)
There's no such thing as Boomers or Gen anything else.
Those are terms created to sell magazines. They recycle topics every few years.
Since this is the internet, those made up terms are we-ponized by trolls.
Boomers rode the success and hardship of the previous generation into their own monetary gain. They then pulled the ladder up after them and essentially destroyed the economy through greed. Greediest generation ever
Cost of living has drastically outpaced wage growth. The younger generations hold less wealth than any other generation In their comparable age period.
Millennials for instance statistically have not saved due to numerous detrimental economic events in their lifetime, rent prices being out of control, and being locked out of the housing market.
Boomers have experienced periods of high inflation, sure, but cost of living was much more reasonable compared to now.
To argue against this is against the stats.
Surprised it's that low, they've been working the longest. I wouldn't expect 20 year olds to have amassed much wealth.
I’m heaping as much money as I can into index funds this year. Get while the getting is good! This year, with its dip, could turbocharge your long-term performance.
Moved all in to the Stable Fund a year before retirement. Had less than 20% in equities over 25 years and came out much better than my peers. Their equity focused investments would zoom past me then fall way behind, over and over. Sorry the tortoise won this battle. Since retirement portfolio of bonds and CDs averages 5.11%. I retired planning on 2.5% a year so nice gravy train here at the beginning.
Hang in there my friend. 8% down in this market isn't bad at all. I'm down 23% and still plan to retire this year.
Nobody knows where the market will go, but I'm betting that we're near the bottom now and I'm positioned to catch the bounce when it comes. And it will come - it's just a matter of when. The economy looks and feels like it did in the 1970's, and us old frats who lived through that and remember it have a heck of an advantage over the kids today who think that the past 10 years of cheap money were somehow normal.
That is why we use H1 workers.
Boomers control over 50% of the wealth in the country. No sympathy. Time to get out and make room for others.
Up 4.5 percent this year. Was almost 7 a month or two ago. 10 percent MM. 90 percent between 500 funds and NASDAQ. I bailed out of WFC and bonds. Target state funds commission is too high and I avoid it. I cannot justify WFC.
1000 shares could yield a quick 10k if I buy at 35 and sell at 45. Waiting it out a bit.
It'll come back. What's depressing is that with the inflation we're seeing these days, unless you're up over 10% every year you're losing buying power.
and they replace us with Raj
RMDs not required till age 73
Live off social security till then
I’m up 3%. Just put all of it in stable fund. Will move back into investments in a couple of weeks just in time for earning season
Most portfolios are down 20% this year... You are actually doing good.
So, just normal financial situations that has nothing to do with Wells Fargo?
I used to worry about dips and valleys, but I remember that I won't have to cash out my entire 401k all at once.
if you're that close to retirement, your portfolio shouldn't be fluctuating that much. (if you're balanced properly)..
There will ALWAYS be hills and valleys even after you take the retirement step. I'm still retiring from this place soon as I put more value on my physical and mental health than I do on my investment portfolio.
Who to blame? The Fed? The Market? Yourself? All of the above?