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Thread: Conavirus......

  1. #571
    Senior Member bae's Avatar
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    Quote Originally Posted by Alan View Post
    Steve Mnuchin
    Are they paying in silver?

  2. #572
    Senior Member JaneV2.0's Avatar
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    I don't give W much credit, because he doesn't deserve it, but he was the voice of calm reason when the reassured people that Muslims weren't the enemy, and that was a common theme for him, even before 9/11.

  3. #573
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    I read today, I think in the Wall Street Journal that we should do better than Europe due to private health care. Countries with socialized medicine lack enough ICU beds and ventilators. Many elderly already die earlier there due to lack of high grade facilities. That becomes more acute in an emergency.

    note I’m not here to argue against one health care system or another, just sharing what I read. I also don’t believe in the elderly spending much of their last days on a ventilator

  4. #574
    Senior Member Geila's Avatar
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    Our whole Bay Area has gone into a shelter-in-place order. School closings were announced last week and have already been closed since yesterday. All non-essential gatherings, traveling, and work are banned.
    I'm glad I stocked up a few weeks ago so I don't have to be out there now, when everyone else is scrambling. I'm glad someone on here mentioned pet food a while back as I stocked up on that too.

  5. #575
    Senior Member Geila's Avatar
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    Quote Originally Posted by catherine View Post
    Yes, I also think about people who were planning to retire soon off of income from savings in stocks. But I feel that eventually the stock market will rally. If businesses go under, it much harder to recoup.
    I was thinking the same thing. I imagine people who were planning to retire in the near future and were trying to maximize income by staying in the stock market just a while longer to take advantage of the upward trend might be really stressed out right now.

    I'm so glad that we didn't buy that second property we were considering just a couple of months ago. It's unbelievable how much has changed in such a short amount of time.

  6. #576
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    Quote Originally Posted by Geila View Post
    I'm so glad that we didn't buy that second property we were considering just a couple of months ago. It's unbelievable how much has changed in such a short amount of time.
    I think that worry factor depends. It depends on how much one has and what lifestyle one requires. I retired last July. I am frugal and mindful of my spending. I am drawing a very small allowance each month-about 30% of what my take-home income was. I'll be fine. And since it looks like all our travel in the next 90 days will be cancelled, I won't even need to draw that $5k.

    I haven't seen anyone retirees around here, expressing significant concern.

  7. #577
    Senior Member Teacher Terry's Avatar
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    G, many here have pensions or enough SS and savings that they are okay. Probably not so for people planning to retire in 5-10 years.

  8. #578
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    I do find it beyond insane that they are thinking of sending out raw checks of money and yet we still can't get sick time and so must spread corona if we get sick. I hate this government so much. I will tell them where to put the check. Oh I'd cash it. And then maybe I'd wander over to a quiet place to die.
    If you want something to get done, ask a busy person. If you want them to have a nervous breakdown that is.

  9. #579
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    Quote Originally Posted by Teacher Terry View Post
    Probably not so for people planning to retire in 5-10 years.
    I suspect that is very true! Current data is super scary: https://www.investopedia.com/article...alance-age.asp

    Fiftysomethings (Age 50–59)

    Average 401(k) balance: $174,100
    Median 401(k) balance: $60,900
    Contribution rate (% of income): 10.1%


    The jump in the contribution rate for this group suggests that many are taking advantage of the catch-up provision for 401(k)s, which allows people age 50 and over to deposit more (an extra $6,000 in 2019 and $6,500 in 2020) than the standard amount.3


    Sixtysomethings (Age 60–69)

    Average 401(k) balance: $195,500
    Median 401(k) balance: $62,000
    Contribution rate (% of income): 11.2%

  10. #580
    Senior Member Geila's Avatar
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    Quote Originally Posted by Gardnr View Post
    I think that worry factor depends. It depends on how much one has and what lifestyle one requires. I retired last July. I am frugal and mindful of my spending. I am drawing a very small allowance each month-about 30% of what my take-home income was. I'll be fine. And since it looks like all our travel in the next 90 days will be cancelled, I won't even need to draw that $5k.

    I haven't seen anyone retirees around here, expressing significant concern.
    Oh, I think people who are already retired totally dodged the bullet. It's the people who are not retired yet but were planning on 5 years or so and were still highly invested in stocks.

    I know a couple who is retiring this month and I'm assuming that they had already moved most of their investments to more stable vehicles.

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