Dow sinks below 23,000; Nasdaq flirts with a bear market; Oil in free fall

[washunut]

Thanks.

But it's not just about market confidence. There's chunks of America that depend upon their market holdings for income. When they're holdings decrease in value, when their income derived from their holdings slump, they spend less by necessity.

Again well said (better than I did!). In fact I am retired,and live off savings.

 

[Chomsky]

Again well said (better than I did!). In fact I am retired,and live off savings.

Thanks again.

Well, then there better not ever be any excuse to not make it to the polls to do your civic duty!

 

[gulfman]

If you are under 50, do not sell. Us over 50 types are screwed. Thanks Trump.

You should have sold a year ago.

 

[Rexedgar]

You should have sold a year ago.

Rare to see two posts from you, in the same thread, so close together; Merry Christmas!

 

[Mycroft]

Where do you think The funds that you contribute are placed to grow? You cant be serious.

If YOU don't have a choice, you are getting screwed from the get go.

 

[washunut]

Thanks again.

Well, then there better not ever be any excuse to not make it to the polls to do your civic duty!

Have never missed an election!

 

[Common Sense 1]

Why does it matter? Who cares about Wall Street?

Everyone who has a 401K............. Anyone who owns a stock! geez........

 

[HenryChinaski]

If YOU don't have a choice, you are getting screwed from the get go.

Of course there’s choices though all you’ve proven is that you know nothing about how retirement/investment savings works. Which just proves my earlier point.

 

[Exactice]

Of course there’s choices though all you’ve proven is that you know nothing about how retirement/investment savings works. Which just proves my earlier point.

There is lots of choices. I am slowly coming to the age where I need to pay attention.

Unless my Financial Adviser is blowing smoke up my behind, There are a LOT of conservative options to maintain income while savings.

Diversifying and forcing yourself to make choice you dont like but are for the better?

It all starts from the money in money out aspect. then going to the retirement. I WONT deny there are some legit paycheck to paycheck, those that are really trying. BUT majority live paycheck due to the refusal to surrender amenities that are NOT needs but wants. I know this from personal experience when I lost my job. living W2 all my life.... and now happily 1099 and doing very well. BEING even MORE responsible and conscious about my taxes, expenses and debt. Expecting market turmoil and LOTS of rainy day funds even though I DONT want to.


SO if your retirement was soley based on a 401k but lacked the foresight of market trends or the advice of a competent financial adviser. Then that might be something you have to own. I have been in deep talks with my advisor and we have diversified with ALL the little money have have, but every quarter.... I keep allocating a little more, as my income increase, my expenses decrease and my savings increase. I NOTICE the trends is MUCH more opposite, their income increases and so does their spending..... on tangible items that depreciate. Anything tangible purchase in recent years have a high probability of appreciation.....So I am trying to stay net positive even though I spend.


Its our Money dont we need to own it?

 

[iguanaman]

Hey Iguana, can I have an honest question with you.


Take politics out for a second and base the actions of money in and money out purely on the responsible parties.

1) Its MY responsibility to balance what I can and cannot afford? SHOULD I expect raises and expect my employer to give me raises?
2) A job is a service and a paid service with that it is a voluntary agreement, NO one is forcing me to take X job.
3) So if I am a low income or middle class income person, and I stay within my income and I am a responsible adult to include not taking on additional debt (wants vs needs) The market should not affect me much?


Im trying to understand. the Markets volatility affects those that invest in the stocks. Business of course and those that relied on 401ks, Annuities.

My mom Retired, on Pension, Social Security and Retirements... her retirements have and will take hits from 2008 crash and the possibility of the current one.

Next But she bounced back from the 2008 to the 2016-2018 climb... so shes basically back. NOW add in her assets of hard work over the years debt free now and owns here home etc... If it crashes I dont think she will lose anything significant? my mom was a legal Secretary and no college we are NOT a rich family in the slightest.

My whole point is..... IS it OUR the individual the consumer Ultimate responsibility? Or are we expecting someone ALWAYS to bail us out when things dont go "OUR" way.

Big banks, Corporations correlate no different to the middle and low class . seems Everyone wants a bail out?

continued.....

LOL Yes no one is forcing us to put food on the table for our family and put a roof over their head. But most of feel it is an obligation that supersedes all others. Are you saying we should no longer be that way and quit our underpaid jobs so we can make a statement?

 

[Chomsky]

Have never missed an election!

That's what I like to hear!

As to me, I try not to. But yes, I have awhile back. I try to impose civic responsibility in my kids by example. We try to go to the polling place as a family, when we can. And as the kids started coming of age, we celebrated their first votes together. I want them to feel franchised. The celebration is nothing special; it's along the lines of:

"Congrats son, you did your duty; now lets grab a slice!"

 

[Todzilla]

Relax, everything is fine.

Besides, if it gets really bad, we can just blame Obama and Hillary.

 

[Vadinho]

You should have sold a year ago.

I was 50% in cash the day after Trump was selected.

 

[Exactice]

LOL Yes no one is forcing us to put food on the table for our family and put a roof over their head. But most of feel it is an obligation that supersedes all others. Are you saying we should no longer be that way and quit our underpaid jobs so we can make a statement?

Whoooo hold on, I am in no way discussing necessities.

Food and Housing is a necessity first after that... it has to be broken down through amenities and wants .

Housing normally takes the majority of income.. But per my last post about the housing bubble and peoples lack of responsibility on debt is the reason they go further into debt. Buying houses they cant afford. Not living within an equitable means or even foresight of catastrophic losses.


Underpaid job is relative to your situation. (Please excuse my bias) I lost my job immediately no warning. in 2009. (RIFT) I had a mortgage and bills. I found another job fortunately and then in 2012 I was given ultimatum, I had 3 months to figure it out as I was losing my W2 and going purely on 1099.

I worked backwards and living in one of the nations HIGHEST cost of living states. I figure out that $8.75 an hour $18,200 gross or about $14,560 ($1214 a month) was the ABSOLUTE bottom I could afford. I sold off EVERYTHING, cars, phone, tv/internet. I learned to cook and kept my expenses for 3 years at this. By the third year my income from 1099 was increasing dramatically of COURSE due to my work actions. Now I have a family of 4 and living within my means of comfortable. I do NOT make $100,000+ a year....But I have learned from budgeting $18,200 in my state.... I can and did survive. IT sucked.. LIFE was meager but I maintained a mortgage and my job, Roof and Food on the table.

So Underpaid by WHAT standards of living are you telling me BY facts as I DID it, that $8.75 per hour as a single individual in the one of the nations HIGHEST cost of livings states that thats NOT equitable.

What if I MOVED to another state with the cost of living was MUCH lower. OR what If I took 2 JOBS that paid WELL above the $8.75 I knew. At that one point btw I was working 3 Jobs....1 Full time. 1 part time and the Nation Guard. It was NOT substantial it was hard work, it was not a WAY of living for 3 years. but I did it. I survived.

ONCE my income improved or was able to manage better I made more choice. quick working the part time job, Or have a relationship. the risk vs rewards continue to this DATE.


I am trying to insight that we can blame the economy, we can blame low wages, we can blame politics... But again MONEY in, MONEY OUT. I am responsible for it ultimately. NO ONE ELSE,

I want a higher paying job? Work HARDER to get noticed not JUST enough to collect your paycheck.......