Racket wrote:
I don't know why it's so hard to quote posts but Giles does the same and you guys have a pretty similar writing style so if it quacks like a retarded duck and walks like a retarded duck then it must in fact be a retarded duck
Giles and Uncle are the same person...aka K5. He has never figured out the quote function in all of his years here.
(Ask him about the Jews.)
One thing American “authorities” haven’t been saying is that people who are coughing for any reason—cold, flu, bronchitis, whatever—should all be wearing masks. If they also happen to be corona infected, that cough is hugely transmissive.
Anybody feeling under the weather should be wearing a mask, to protect others. Also, flu+corona at the same time would have to suck.
Maserati wrote:
So agip, going up from here today, right? ?
For you Bulls, something to cheer you up and give you hope.?
https://m.youtube.com/watch?v=dQw4w9WgXcQWhat bulls?
Why project attitude like that? I said the system was totally rigged, and I was right. I said only a few things would seriously knjure it, and I was right.
I am neither bull nor bear, I am a realist. Your neo-rick-roll has no effect on me.
Current line in the sand 2,734.
The biggest difference between a 401k and a pension is who assumes the risk and what happens when the person dies.
Take two scenarios where you put the exact same amount of money into a pension vs a 401k for the exact same amount of years:
The pension fund would calculate a lifetime annuity based on what is expected to go in and how the fund can grow the money. You know what you are going to get.
The pension fund also pools several funds together to mitigate risk.
If the person dies early or markets are better than expected, the pension would pay out less than it took in plus market gains on that money. The excess goes into the fund.
If the person lives longer than expected or markets don't do as well, the pension would pay out more for that person than it took in (plus market gains). It would use the dead guy's money to pay for the shortage.
In the 401k, you have to budget and manage it yourself. If you live longer than expected or markets are bad, tough luck, you run out of money.
If markets do better, you gain.
If you die young then good news! You didn't outlive your money and your estate gets to keep the overage.
Pensions are better on a macro level but you still have the risk of them being mismanaged and affecting a large number of people.
People like the 401k because they don't trust others with their money.
Companies like the 401k because they are simple and don't have long term risk to worry about.
Social Security acts like a pension plan and is a comforting safety net so we as a society don't have as much to worry about with elders running out of money.
Ghost of Igloi wrote:
Current line in the sand 2,734.
We are essentially there.
2400 is an interesting level. Yes I know it’s a long way off—maybe 2 days!?
Maserati wrote:
[quote]Uncle B wrote:
[quote]Maserati wrote:
Pensions are a quaint idea from a bygone era, totally unworkable in the modern environment.
I see you can repeat the elites talking points that have been fed to you,
Any actual ideas of your own?
????
Ooohhh, aaahhhhh........bwahahahahahahaha!!!!!! LOL. ROFLMAO
????
Thanks uncle, I needed that.
I invite you to read the tens of thoudands of words of original thoughts I have posted on here, as well as other people’s responses to the effect that I am a nut.
I am not saying you are a nut. Just that you are a sucker for lack of a more polite word
X-Runner wrote:
The biggest difference between a 401k and a pension is who assumes the risk and what happens when the person dies.
Take two scenarios where you put the exact same amount of money into a pension vs a 401k for the exact same amount of years:
The pension fund would calculate a lifetime annuity based on what is expected to go in and how the fund can grow the money. You know what you are going to get.
The pension fund also pools several funds together to mitigate risk.
If the person dies early or markets are better than expected, the pension would pay out less than it took in plus market gains on that money. The excess goes into the fund.
If the person lives longer than expected or markets don't do as well, the pension would pay out more for that person than it took in (plus market gains). It would use the dead guy's money to pay for the shortage.
In the 401k, you have to budget and manage it yourself. If you live longer than expected or markets are bad, tough luck, you run out of money.
If markets do better, you gain.
If you die young then good news! You didn't outlive your money and your estate gets to keep the overage.
Pensions are better on a macro level but you still have the risk of them being mismanaged and affecting a large number of people.
People like the 401k because they don't trust others with their money.
Companies like the 401k because they are simple and don't have long term risk to worry about.
Social Security acts like a pension plan and is a comforting safety net so we as a society don't have as much to worry about with elders running out of money.
You got it until the last two paragraphs.
Retirees love the comfort of a monthly paycheck of a pension plan where they do not have to worry about the market and investing.
Social Security benefits are very low. Hardly a comfortable safety net.
We have bounced off 2,734 each of the past three days. Levels are zones so 2,400 next with target if broken. 2,346 is the 12/28/18 low. Should be an interesting close.
It's another blood bath out there.
All major indices down more than 5%
Ghost of Igloi wrote:
We have bounced off 2,734 each of the past three days. Levels are zones so 2,400 next with target if broken. 2,346 is the 12/28/18 low. Should be an interesting close.
Well, I’ve bought all I wanted to buy at this level. That said, I’ve bought very little. It’ll need to gap down another 4% before I buy another chunk. A bigger chunk.
Uncle B wrote:
You got it until the last two paragraphs.
Retirees love the comfort of a monthly paycheck of a pension plan where they do not have to worry about the market and investing.
Social Security benefits are very low. Hardly a comfortable safety net.
I don't disagree with either point.
Yes, retirees love the comfort of a steady monthly check, but when they are young they often think they can do better on their own. Then they get old and have to keep thinking about their money, which sucks.
We totally agree here.
SS benefits are low because we divert other future money into other things instead of putting more into SS.
My point about the safety net is that with SS you have to worry less about your parents or even your neighbors savings habits because at least something is guaranteed to come to them.
At least it's something.
Retirees that keeping pushing their 401k to earn more are really sweating it right now.
Doors open for 2,400, perhaps in a week. Over sold though, so big bounce likely. It will be sold too.
well geez if this isnt' capitulation what is?
everything is down - bond, gold, stocks. It's just turn everything possible into cash as fast as possible.
balanced portfolios are still green for a 52 week period.
Bib #1 wrote:Well, I’ve bought all I wanted to buy at this level. That said, I’ve bought very little.
Ditto. I placed some orders to buy at 5% down and those have filled. Am I buying bargains or grabbing the falling knife? That's a question for the philosophers...
agip wrote:
balanced portfolios are still green for a 52 week period.
Tech heavy portfolios, you mean. Both the Dow and S&P500 are at 52 week lows
Bib #1 wrote:
agip wrote:
balanced portfolios are still green for a 52 week period.
Tech heavy portfolios, you mean. Both the Dow and S&P500 are at 52 week lows
"balanced" means some division between stocks and bonds at around 50%. plus minus 20%.
agip wrote:
Bib #1 wrote:
Tech heavy portfolios, you mean. Both the Dow and S&P500 are at 52 week lows
"balanced" means some division between stocks and bonds at around 50%. plus minus 20%.
Gotcha. There might be a few of those but not many. All of the target date funds in my (previous) employer’s 401k plan are down by double digits, even the 2025 date fund which is for those close to retirement and should be less heavily weighted to equities.