Banks/Money Managment

A.J. said:
I just don’t get it. We are practically shutting down the country over a risk that is relatively small. 1600 out of the entire population? Come on people. Get it together. Going to be an interesting year.


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They haven't reported on any major shootings in a while. The masses have to have something to live in fear of.

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Red Knight15 said:
I refuse to look at my 401k. Everyone I work with are flipping out. Maybe if were retiring in a couple years.


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I did for shits and giggles down nearly 50k in the last couple weeks.
notnalc68 said:
Look at it this way. Now that the market is down, every time your payroll deduction for your 401-k goes in, you are buying funds at a discount.


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This is exactly how I look at it. If I was retiring in a year or two I'd be more worried but I have a min of 8 years before I can. Leaving everything alone.

A few of the guys i work with are following a strategy and got really lucky and had just moved their funds to the conservative accounts and missed the hit. Now they are trying to time it to move it back the the aggressive funds to tray and capitalize on the uptick.

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jesse3638 said:
I did for shits and giggles down nearly 50k in the last couple weeks. This is exactly how I look at it. If I was retiring in a year or two I'd be more worried but I have a min of 8 years before I can. Leaving everything alone.

A few of the guys i work with are following a strategy and got really lucky and had just moved their funds to the conservative accounts and missed the hit. Now they are trying to time it to move it back the the aggressive funds to tray and capitalize on the uptick.

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The last bit is the hard part. They could use some dollar cost averaging and incrementally get back into the game.


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I had moved some of my portfolio to a different investment manager a month ago...most was moved in kind, but I also had substantial investments in their proprietary funds which had to be converted to cash...before I reinvested the cash, the slide started...I left it in a cash position, which was 27% of my investment...

Just dog shit lucky...
 
Brute said:
I had moved some of my portfolio to a different investment manager a month ago...most was moved in kind, but I also had substantial investments in their proprietary funds which had to be converted to cash...before I reinvested the cash, the slide started...I left it in a cash position, which was 27% of my investment...

Just dog shit lucky...
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Conversion to cash ... Wait for your tax bill.


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Brute said:
I had moved some of my portfolio to a different investment manager a month ago...most was moved in kind, but I also had substantial investments in their proprietary funds which had to be converted to cash...before I reinvested the cash, the slide started...I left it in a cash position, which was 27% of my investment...

Just dog shit lucky...
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Wow. Lucky you. Crazy times.
 
Brute said:
I had moved some of my portfolio to a different investment manager a month ago...most was moved in kind, but I also had substantial investments in their proprietary funds which had to be converted to cash...before I reinvested the cash, the slide started...I left it in a cash position, which was 27% of my investment...

Just dog shit lucky...
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Conversion to cash ... Wait for your tax bill.


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A.J. said:
You can hold cash in a qualified retirement account without paying income tax on it.
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fiend said:
Conversion to cash ... Wait for your tax bill.
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Even if you couldn't hold the cash in a qualified account, I'm pretty sure most people would prefer to pay tax on money they make (which means they still walk away with money) than lose money (which is what would have happened in this situation).
 
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Sharkey said:
Evan if you couldn't hold the cash in a qualified account, I'm pretty sure most people would prefer to pay tax on money they make (which means they still walk away with money) than lose money (which is what would have happened in this situation).
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In this situation yes, but the rest of us haven’t “lost money” except on paper unless you panic sold, correct?


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