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Wonder what this will now do to the economy? Stock market going down any?
Sam
Sam
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Today's Stock Market has little to do with the general economy.
It's more of a Poker game for multi millionaires. -
Yeah, me too.
I'm figuring inflation will be with us in the near future.
Can't think of anything I desperately need right now, but
if I do, I'll buy it before the price goes way up.
Already have the basics - Food, Ammo, Cigars, booze and old movies.Comment
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Millions unemployed, Huge lines at food banks, Small businesses
closing permanently, others hurting. millions sick, thousands dying,
yet the stock market continues UP seemingly blissfully unaware
of the misery down in realville.
Yes, those lucky enough to still have 401s are doing OK, but
nobody else is.Comment
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Luck has nothing to do with being in the stock market. It is a matter of discipline and time. Starting early and buying wisely, getting into good solid funds, paying attention to cues, not trying to get rich over night, etc. The stock market moves day by day based on what buyers consider worth buying and sellers are willing to sell. It is money talking saying what the buying public considers the value or lack there of for a particular business, industry, fund, etc. Since 1979 the market has done very well for individuals willing to act with discipline and a long term perspective. Absolutely amazing what consistent investment month by month over a working life will produce. Sincerely. bruce." Unlike most conservatives, libs have no problem exploiting dead children and dancing on their graves."Comment
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And unfortunately can be erased in a matter of hours. Back in 2008 we took a big hit that didn't totally recover until Trump came in. Rather then stay in we got out midway in the administration and put our money in more solid application then paper promises. Right now I am being warmed from reality not paper promises.
SamComment
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Re: Unfortunately. True. I remember when silver spiked ala the Hunt brothers. I remember the ups and downs of various commodities touted as safe. I remember the Reagan years ... the go go 80's, the bust of dot coms and housing and the recent chived 19 panic when the market plummeted by thousands ... then proceeded to recover, etc. I was there right in the middle of it. Recovered before Trump entered the White House so was in a good position to do well as the market rose with him. Bought a house during the housing bust. Good deal. Markets of all kinds move. If you are young, invest. Invest wisely but invest. Do not loose your nerve every time someone on Wall Street goes nuts or the Mother Jones crowd burps. Invest broadly in quality stocks. Leave the pennies alone. Look for quality. There may come a time when it is time to run. If so, ... Run. But first give thought to where you will run. As an example, remember when airline stocks nosedived after 9/11? I do. Lots of folks bought those airline stocks. When they began to climb back to normal levels ... lots of folks made nice money selling those stocks." Unlike most conservatives, libs have no problem exploiting dead children and dancing on their graves."Comment
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Also don't use your 401K, IRA, Keogh Plan, whatever, as a piggy bank, vacation fund, etc.Comment
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My advice to young people is this:
1. Get an education.
2. Get a job with a 401k -- preferably with employer matching
3. Put the max in your 401k -- no whining or sniveling, DO it!
4. Open an IRA
5. Transfer the money from your 401k to your IRA every month.
6. Pick the three top-performing mutual funds (easy to do with the internet)
7. Buy the number 1 fund with your transferred money this month, the number 2 fund next month, and so on.
8. Re-evaluate every year -- go through step 6 again.
9. If one of your funds has fallen out of the top 3, sell it and buy the fund that replaced it.
10. Keep doing this for 40 yearsComment
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