I'd dump my cash savings into cheap index funds. Wife and I are dual income no kids and current rent is cheap. Even if one of us lost our jobs we can live comfortably on one salary.
I'd dump my cash savings into cheap index funds. Wife and I are dual income no kids and current rent is cheap. Even if one of us lost our jobs we can live comfortably on one salary.
Sally Vixxxxxxxxens wrote:
What would be affected in your life? Would you panic? Could you withstand such a decline in the markets?
Ah, 2009. keep pumping $ in. sell nothing.
A trading halt would be imposed after 15% and in unusual circumstances the markets could be temporarily shut down (9/11), but Russia would have to be pointing nukes at Ukraine for this to happen. Elevated inflation will not cause a massive swan dive, just a temporary correction which we were overdue anyways. Like others have said, if markets plummeted that much it’d present a tremendous buying opportunity
Sally Vixxxxxxxxens wrote:
What would be affected in your life? Would you panic? Could you withstand such a decline in the markets?
It would have ZERO negative effect. While I am a few short months away from complete retirement, my college professor wife is planning to work for 5 more years, so we wouldn't need or even want to make any withdrawals until then.
At this point, even if it drops 60% the day we are both fully retired, it wouldn't make a hill of beans difference, because we are debt free and own out home outright. Plus, we will have (already do) 3 YEARS of expenses saved outside of stocks and bonds, so we would just use that to live on if we wanted to while the market recovered (because it always will). I could retire comfortably with one 5th of what we have invested, so it wouldn't affect me. 60% drop? Meh. I'd still be in the market for a residential bowling alley.
Runningart2004 wrote:
It would not affect me at all.
I'm military so will have at least one pension when I get out. My plan once I hit 20 is to get out and get a DA Civilian job, earning a second pension (well its a combined pension/SS/401k) while collecting the first.
This is the way.
The biggest decision point will be how long I stay in the Army, and that depends on what rank I am at 20 and if the Army dangles the carrot as they are keen to do. I am a Sergeant First Class. Assuming I make Master Sergeant in the next 9 years I will have to hold that rank for 3 years in order to retire with the pension at that rank.
Alan
Are you a Mandalorian?
Sally Vixxxxxxxxens wrote:
Flagpole would be relegated to a home one-lane bowling alley.
If I can't afford two lanes, I'm not getting it.
My wealth grows daily and is independent of the markets.
Flagpole wrote:
Runningart2004 wrote:It would not affect me at all.I'm military so will have at least one pension when I get out. My plan once I hit 20 is to get out and get a DA Civilian job, earning a second pension (well its a combined pension/SS/401k) while collecting the first.This is the way.The biggest decision point will be how long I stay in the Army, and that depends on what rank I am at 20 and if the Army dangles the carrot as they are keen to do. I am a Sergeant First Class. Assuming I make Master Sergeant in the next 9 years I will have to hold that rank for 3 years in order to retire with the pension at that rank.Alan
Are you a Mandalorian?
I prefer the Viper of Dorn!
Imagine how sweaty one would be under a set of beskar?
Also the Dark Sabers seems meh.
Alan
I would stay the course. Continue to max 401k, HSA and Roth. Put as much as I can afford into taxable account.
Greg wrote:
My wealth grows daily and is independent of the markets.
Good one
Runningart2004 wrote:
Flagpole wrote:
Are you a Mandalorian?
I prefer the Viper of Dorn!
Imagine how sweaty one would be under a set of beskar?
Also the Dark Sabers seems meh.
Alan
This is the way.
It wouldn't. How much money I have saved hasn't ever had an impact on my life.
60% is crazy and there'd be other things to go with that. But, theoretically it wouldn't affect me for years. I have 1/2 mil in cash to ride it out. And, no, I probably wouldn't use that cash to 'buy'. Might move some bond holdings. I'm retired, don't need to hit any home runs, just need to maintain my lead. Relief pitcher's in at this point.