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Brightonuk
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Retirement

Just wondering how you guys back home PPP/ 401Ks are doing.

Look at mine yesterday I have lost 25%

Today me thinks it is even worse.

The Feds in their wisdom cut interest rates to Zero which made zero difference to the market free fall today.

Whats the point if the economy is at a fricking standstill not like anyone out buying houses or companies are expanding now they have no fall back.

 

Ride it out they tell us kinda hard seeing you life savings disappear in a blink of an eye

 

 

aerobod
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So far I'm not too worried if the markets come back up in the next 5 years or so. We have about a year's worth of spending needs in cash, another 4 years or so in balanced investments with decent bond content (which so far have dropped about 12%) and the rest in predominantly stock investments (which have lost about 25%).

I can also do a bit more work if necessary to bolster the future funds if the markets are too slow in returning to previous levels or we are in a new market regime never seen before.

James

Golf Juliet Tango
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My savings are spread about a bit. Some parts are over 10% down (as of a week ago, since when the stock market has fallen further).

It was falls like this that convinced many people in the UK to use buy-to-let property as their savings schemes.

For me it is time to hunker down and keep calm. But I am in a fortunate position; I have savings, many do not.

Stephen

Democratic dissent is not disloyalty, it is a positive civic duty

andy couchman
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I'm 66 and still working but my pension funds are mainly in equities so, on paper, I have lost more money than I have made in a a lot more than a year. But - only if I sell. So the plan is not to sell - or to sell as little as possible.

What we should see is an acceleration of many of the changes that were underway anyway. And, out of horrendous situations invariably come opportunities.

I feel desperately sorry for those in some sectors (hospitality anyone?) and also of course for everyone adversely affected by the virus. I am lucky in that most of my work is writing and most of that is done from home. But not all, so our income will drop unless we can find extra income elsewhere. We're also lucky that we have a range of hobbies so there is no shortage of things to do and indeed every incentive now to do some sorting out of fings wot should have been sorted ages ago. Lucky too that, though our house is not large, it is not a bedsit in a bad part of town either.

We often talk of the Blitz spirit and now have a chance to make it work for our communities. Indeed that is already happening.

Sadly, we will see an increase in some behaviours too and have to hope that is minimised. 

But as GJT said, it's time to hunker down and make the best out of a bad situation.

Above all the rather cliched aim is to strive and hope to become part of the solution rather than part of the problem.

Brightonuk
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Basically the same for me as arobod Im down 25% 

The kick in the nuts for me was I flipped my 401K to an IRA one week before the fall if I had waited I would not have lost $75k

I am sure it will come back but waiting all this time to see it go up then in a day its all gone is a bitter pill to sallow

Life Can Be Crule

Golf Juliet Tango
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Well, my father's estate at probate value creates a tax liability, but the value six months afterwards (yet to be settled) will be considerably less. (But I am fortunate to get a sum).

Stephen

Democratic dissent is not disloyalty, it is a positive civic duty

Alan Reeves
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No losses until you sell...

Keeping a year or more in relative cash is prudent albeit a bit late now if you need it

I have not even looked as I will cry and worry but previous big hits have come back relatively quickly

I do feel this one is going to take a lot more time to return and a lot of jobs will be lost

test

 

Brightonuk
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It is going to take 5 years minimum for me to regain $125K.

 

Man if I had just waited 7 days before I flipped my 401K to am IRA I would be soooo happy 

Life Can Be Crule

Alan Reeves
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Don’t panic it always looks worse and if you are still in a scheme that is buying it’s cheap. 

It also tends not to take that long to recover 

 

test

 

Derek Batty
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Your not skint and will get a few bob back ,,so don't moan ,sit back have a drink cool down and smile 

derek

Blokko
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It is going to take 5 years minimum for me to regain $125K.

Man if I had just waited 7 days before I flipped my 401K to am IRA I would be soooo happy 

Sorry to hear that.  If your 401k is anything like mine, I guess there has been a big % jump in the last couple of years under the Trump presidency.  Hopefully we will get a good bounce back once Covid is under control - Trump is banking on this for his re-election Biggrin

As a matter of interest (if this is not too personal a question), why does one flip from a 401k to an IRA and wouldn't the two types of investment have taken a similar hit in current markets?

Steve.
Proud poster of mindless drivel on BlatChat since 2006.