Chevron stock is being brought down by the slowing world economy. As of Monday October 29 it’s in the $107 area minutes before the close. Who didn’t see this coming at the end of September has little clue of what their 401k is meant for. I hope you aren’t the typical buy and hold employee. Don’t retire or get laid off for sometime yet.
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The world is laughing at you, clowns! The USA and "chevron" are collapsing, don't you see that? You are in the middle of your total collapse, and nothing can stop this natural process.
Chevron has plenty of non-equities options in the 401k for the meek and faint of heart. The S & P & DJI, NAS still positive for the year. Don't act like you guys are all millennials who started investing after the latest crash and think the bull market is a forever eternal flame. I know that's not true. Use FIREcalc or any other retirement planner to predict your investment success, using real life market historical data. The market goes up, the market goes down. Overall,in the long term, the market trends upward. We collect dividends. Try to time the market at your own peril. Read up on the odds of success & history of those who use that strategy, then proceed with caution.
Hey if you’ve ridden the oil industry well over the years and made some big bucks you don’t need to worry about annuities and low risk investments yer grandma used to like. No sirree, bob dixie, you’ve got cash to burn and plenny of it.
@1ljy, And what exactly is the purpose of investing in the stock market? Isn’t the expectation for it to pay out cash year to year? That’s what an annuity does, and it’s guaranteed. The stock market is not guaranteed to always go up at the clip we’ve seen over the last 9 years. Diversification is key. Invest some of your money and depend on fixed income streams for the long haul. Don’t be too concerned with inflation fears. That’s a red herring. When equities are in retreat during market corrections, bear markets, economic recessions or when equities are advancing in slow growth periods, inflation is not a concern. That’s when annuities and fixed income investments are your friend. Try living off distributions in a down or extended flat period. Your retirement nest egg will decimated in no time. Keep believing the stock market will continue to perform like the last 9 years. When the pendulum swings the other way for 9 years, you’ll realize the wisdom of diversification. Common sense is to cover your rear and live within your means.
“SP500 index has more than doubled“ ... yes, but only for those who could let it all ride... not a fair comparison to an annuity that is paying out cash year to year. Your point sounds strong after the longest-lived bull market in history, but might sound weaker after the Trump mega-crash. There are risks along every path you could take, which is why diversity and rebalance is generally the best course. Step right up, pay your money, and take your chances... that’s the way it has always worked.
@inz, If all your retirement savings and pension were all put in an annuity, you’d be right. It would be a foolish move, just like putting all your eggs in one basket. How about putting all your money in the stock market like you suggest? Sounds like a foolish move no less. Diversify your investment income strategy, that’s the key. That’s what I did and it’s wirking out fine. My annuity provides the lion’s share of my financial necessities. It’s a guaranteed income stream while the stock market goes through its ups and downs. I have a large amount invested in the equities market, but not right now. I got out to the sidelines in late September and am earning nothing, but not losing anything either. But my Chevron annuity keeps coming in, hell or high water. What’s your strategy? To worry day and night while your money takes a roller coaster ride. That’s not what retirement is all about. If you like the c-sino, don’t give up your job.
someone at work mentioned there was an annuity option available to old timers who don’t trust stocks. Good luck! If you took an annuity in 2000 it would be worth about one third less today due to inflation. The SP500 index has more than doubled in the same period.
As a collector of CVX stock I love when it crashes. A nice crash to the 80s in late January would be fabulous!
@zco, I’m sorry to hear your retirement savings are getting depleted faster than you anticipated. I sometimes feel that way too, but it’s because I’ve always been a saver and a careful spender. Since I’ve been retired for almost 4 years, I’ve stuck to my budget and only splurged a little more when my invested assets outperformed. I took the annuity instead of the lump sum pension. I am able to sustain over 95% of my annual budget on that amount, even though some months require a little belt tightening. Retirement is a different lifestyle than when one was working and building a future. These days are for taking it easy, but living the rat race. I’m not sure how well you are off financially, but I hope at least you’ve retired mortgage free and no kids to support. If any of these two things are on your plate still, you will have to go back to work. Find something you like doing and don’t consider boring, even if it’s part time. Hopefully, you are able to to get the relief you need when you are eligible for Social Security. One last wish to you is to stay healthy. Good luck.
Retired and money is disappearing as fast as I can bat my eyes. Really sad.