The Stock Market [Archive] - Simple Living Forums

SiouzQ.

4-6-25, 9:02pm

I've decided I am NOT going to look at my IRA until the day I always do, which is the first day of every month. I am so damn proud of that IRA that I started way back in the early '90's when I got divorced and was a single parent with a baby to raise. I never could put the full amount in each year but I did what I could and it grew over the course of 30 years. Only when I moved to New Mexico and had the job of managing a gallery whilst living free in the back was I able to put in the full $7000, then $7500 for a few years until the pandemic hit. Even then I was able to put money in each year until 2024 when I wasn't working due to the Thoracic Outlet Syndrome.

Last December I finally withdrew a chunk of it so I could use some of those gains that occurred during Biden's presidency. I took out $5000 to pay off my medical bills and kept $2000 for my share of basic living expenses. The sum I had at the beginning of December seemed so large to little ol' me after a lifetime of working in retail and being an jewelry artist - in fact, it was my gallery sales that had basically funded that IRA for years.

I'm just feeling kind of numb to the fact that thousands have probably been wiped out and there will still be more losses to come. I know I am but one little person caught up in this tragedy that is happening and that everyone, with the exception of the tech bro billionaires, will feel the pain of watching their hard-worked savings go up in smoke.

Oh man, don't get me started on Social Security - I was counting on it in addition to my IRA distribution and an anual annuity that I have to fund the rest of my life. Right now I am still in the middle of my SSDI case which is finally seeing a little movement after applying in February 2024. I was already denied the first time (par for the course - my lawyers filed an appeal and I am slowly working through that process). I am not counting on it though but I will continue to do what I have to do for it. Luckily, K. is still working and he has a good job. His full retirement age is December 2025.

The entire country has been turned upside-down and everything we've all counted on and thought was true is as if a rug has been pulled out from under us. Yesterday we joined the protest in Santa Fe, which has a huge population of retires so there were a lot of us older people out there protesting in front of the Capitol.

Tradd

4-6-25, 9:10pm

Both my current job 401K and my IRA (rollover 401K from a job ages ago) are in target date funds. I’m leaving that alone, but a month ago I stopped mt 401K contribution and that $400/month is going straight into savings. I don’t want to throw good money after bad at this point. At least I won’t lose the current money.

iris lilies

4-6-25, 10:28pm

pinkytoe

4-6-25, 10:28pm

I am not looking at our accounts anytime soon. Glad that at the least about 65% was in cash funds. If I were smarter, I would have made some big adjustments before Trump began his reign but wasn't expecting this chaotic turmoil so soon.

Rogar

4-7-25, 7:36am

It's probably not much consolation, but the market has had an unprecedentedly long bull market and stock markets are probably not much lower than just a few or several months ago. At least today. Humble opinion is that many older people in retirement or close have too much money in stocks, but we all have our strategies and those people have benefitted from the long run up over the last few years. The stock market seems to be resilient and has always come back, at least so far in history, although there's no guarantee as to how long it will take when there are down cycles.

catherine

4-7-25, 7:45am

It makes me anxious, very anxious, but I try to act like a grown-up. I try to be calm about it, because realistically, I’m not much personally affected, it’s only wealth on paper. I remember in the last big market recession I was too busy working to pay attention to what was going on in the market, other than vague knowledge that things were not good. But I kept putting the same amount of money in the stock market each month because I was too busy to pay much attention to finances and it was already set up to do so.

During the 2008 recession and the real estate crash, I was in a very vulnerable position as some of you may remember, and I lost a significant amount of money. This time around I do have some money (a pittance, really) in the stock market, and I'm trying to be sanguine about it. I'm letting it sit, not worrying about it, and if the money does evaporate forever (I don't think it will), I'll be broke again. That's all. IL, as you said, in many cases, money is only paper. Now, if Social Security gets dismantled completely, THEN life will be a little more uncomfortable. But I'm confident that won't happen, either. At least for those of us already getting it.

SiouzQ.

4-7-25, 11:28am

I have been in contact with my financial advisor in the past few months anyway and we decided to change my allocations to a much more conservative plan so at least I've watching things and have been proactive since the Trump Inauguration.

I think I have too much time on my hands from not working and am probably following the news way too much. Sometimes it makes me feel so defeated but then I have to remember that I am NOT that low-wage single parent anymore HAVING to get into frugal living out of sheer necessity. But I still have those financial fears buried way back in my mind. I remember all too well what it felt like to be in a homeless shelter for six weeks with a six month old baby...

Tybee

4-7-25, 12:14pm

I think there is a lot to be said for allocation that meets your particular stage in life, so I would not be telling my kids to sell any stocks, as they have years to make it up, but I am currently much lighter on stocks than I was before Trump took office. If you have enough money or enough time to ride it out, that's great. I've never been comfortable with the "put it away and not look at it" approach, but that's just me. At 70 and needing that money to live on, I am limiting my exposure to equities until things look brighter.

iris lilies

4-9-25, 6:03pm

Damn. Missed that buying opportunity.

there will probably be another though in this crazy time

Tybee

4-9-25, 6:30pm

Damn. Missed that buying opportunity.

there will probably be another though in this crazy time

or they are pumping and dumping in illegal market manipulation.
You have to decide if you want to play their games.

catherine

4-9-25, 7:10pm

or they are pumping and dumping in illegal market manipulation.
.

Yup, I wouldn't be surprised.

Rogar

4-9-25, 7:11pm

"Don't gamble! Take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don't go up, don't buy it".

Will Rogers

iris lilies

4-9-25, 9:35pm

or they are pumping and dumping in illegal market manipulation.
You have to decide if you want to play their games.
I’m just kidding about missing a buying opportunity. I don’t time the market mainly because I’m frozen on ideas of what I’m supposed to do. So I just let it be.

Rogar

4-9-25, 9:38pm

I don’t time the market mainly because I’m frozen on ideas of what I’m supposed to do. So I just let it be.

I think that's what the experts are recommending.

Tybee

4-10-25, 9:34am

I think that's what the experts are recommending.

Yeah, that's right. I am still on the mailing list for my mom's trust company, and they said to do that, and they also said they upping fixed income strategies so that their clients did not have to sell equities, promoting more of an income stream from fixed income.

catherine

4-10-25, 12:03pm

I think that's what the experts are recommending.

That's what I would have done in 2008 if I could have.

frugal-one

4-10-25, 2:36pm

littlebittybobby

4-10-25, 3:44pm

okay----stockks are currently "on sale". Just pretend they are consumer stuff like you go ta the mall for, and spend, spend, spend. Only--don't put it on your cards. Ha. Nother thing is---you could invest in alternatives, such as old Packard Parts. Last night, i checked my portfolio of 58 1YO wheel covers, and had the bad ones which came with the car, and two good ones with another one on the way from oregon. But yeah--one more to go. We'll see how long it takes to round it up. Cause they're scarce, boy. Yup.

SiouzQ.

4-10-25, 3:55pm

Right now I'm at 30% stocks and 70% bonds. I keep emailing my poor financial advisor in a slight panic and he keeps having to reassure me. What I really need to do is get away from watching the news all the time and listening to podcasts and take things with the proverbial grain of salt. I like to be aware of the currents and undercurrents going on but I shouldn't act on emotions.

We got our dual fuel generator yesterday. It is big! Luckily, it handles just like a wheel barrow, albeit a 250 lb. wheelbarrow. We needed to be prepared in case the power ever goes out so we can operate our well and septic system.

iris lilies

4-10-25, 7:22pm

Met with a financial advisor yesterday. Was asked how we amassed so much wealth. This is the second time we have been asked this question. I’ve always handled our finances but with RMDs in a few years need more help with tax considerations. Have maximized roth conversions but need more advice on what else to do. Decided to try having an advisor for one year to see if it makes sense to continue with them. Will be money well spent if additional ideas are garnered. Also with my health recently, I haven’t felt like dealing with this.

i know Iris lilies has sought advice for years. Any words of wisdom to impart?

Oh Lord no don’t do what we do. We have plenty of of money despite having a lot of it with a brokerage firm.

You are talking about using a fee only advisor, right? Dave Ramsey would say to find an advisor who has the “heart of a teacher.”

I think ours have a pretty good handle on some tax strategies, but our main guy at Wells Fargo often tells us something and then says “check that with your CPA.” We do have a CPA do our taxes and we have consulted with him a couple of times in recent years about tax strategies.

for me honestly, a couple years ago I stopped worrying about avoiding tax. If it’s easy to do, I do it, but if it gets complicated, then I forget about it.

My DH seems to be on top of changes in the financial world. For instance, as he was helping our newly widowed friend with her financial decisions, he told me that IRA money inherited by her daughter will have to be taken out within 10 years. I guess that’s a recent ruling. so you will want to consider the tax implications of your estate for your child.

Rogar

4-10-25, 9:07pm

I'm at the 70/30 fixed vs stocks. A fidelity advisor (or salesman) was promoting one of their custom managed packages based on your goals, risk tolerance, etc. The conversation started at their suggestion of just the opposite 30/70 stocks to fixed. I actually laughed aloud, although it might be perfect for the right person, but I was encouraged to take more risk with stock despite my age. Their fee was around 1% depending on how much you invest. I don't need to make big money with my savings, but enough to stay a step ahead of inflation. With a little luck, there should be a little left over at the end, even with some modest long term care.

rosarugosa

4-11-25, 6:20am

We're at 60 stocks and 40 bonds (actually a little bit of bond $$ moved to a MM fund recently). I did not look at our account balances from 2008 - 2010, so hopefully I can once again be strong (or be an ostrich, depending on how you want to look at it).

Tybee

4-11-25, 10:35am

I think allocation depends not just on your risk tolerance but also on the total amount you have. So presumably if you are risk averse and you have a huge amount, you could do 100% fixed. But most of us don't have that much. Also, do you need to leave money to heirs? Are you using your portfolio as a place to store money for long term care if it comes to that? Supposedly you need a minimum of 20% in equities to allow enough growth for inflation.
These are the kind of things you want to think about and have in your mind talking to an advisor.
It's not one size fits all, although investing wise, they seem to make it that way.