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Post by Sandbur on Aug 3, 2024 3:31:30 GMT -6
I'm not stressing. I'm greedy. I'd like like to throw 6 figures in to our brokerage account when we're near/at bottom From Gordon Gecko in the movie Wall Street: "Greed is good". FWIW.....I still show a gain over the past 30 days. Most of the rapid rise and fall has been in the past two weeks....IMO. Tho...I'd say we are much closer to a correction than a big gain in the markets. Been saying that for a few years now.....lol. Why I don't time the markets and rely on allocation to win the day. Kinda "stogy"....but it works. Tho....we are quite long on cash and bonds right now. Maybe 3x normal. I don’t time the markets either and just like a decent allocation and to live within my means, so to speak. Of course, you and I are a bit older and in a different phase of life. I simply don’t want to spend my limited time left at managing my money. I want to do other things ( maybe even trying to catch a Muskie on Gull lake). I hire someone else to manage the money and hope they do a decent job.
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Post by smsmith on Aug 3, 2024 8:10:56 GMT -6
Our CFP does a good job managing our money. He is not as aggressive as I'd like sometimes, but then again he's legally required to do what is best for us long term. I don't ask him to move large chunks out of bonds/cash often, but when it seems "right" to do so to me I talk to him about doing it. So far he hasn't talked me out of it.
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Post by Foggy on Aug 3, 2024 12:32:50 GMT -6
Our CFP does a good job managing our money. He is not as aggressive as I'd like sometimes, but then again he's legally required to do what is best for us long term. I don't ask him to move large chunks out of bonds/cash often, but when it seems "right" to do so to me I talk to him about doing it. So far he hasn't talked me out of it. I'm somewhat in the same boat as you on this issue Stu. I always think my planner is not aggressive enough....and that we are not getting as high of ROI as I would like......thus I fear in the long run......that inflation will beat us. However.....we have been spending our annual 4% for over 20 years now.....and still have a net worth that is higher than it was when we started down this path. Maybe 30% more. But is that keeping up with inflation? Hardly. At the same time, we live nicely.....and I do not worry about money and my planner says their is 99% chance we will not outlive our wealth.....so why take on more risk? Point taken.
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Post by smsmith on Aug 3, 2024 16:36:03 GMT -6
Our CFP does a good job managing our money. He is not as aggressive as I'd like sometimes, but then again he's legally required to do what is best for us long term. I don't ask him to move large chunks out of bonds/cash often, but when it seems "right" to do so to me I talk to him about doing it. So far he hasn't talked me out of it. I'm somewhat in the same boat as you on this issue Stu. I always think my planner is not aggressive enough....and that we are not getting as high of ROI as I would like......thus I fear in the long run......that inflation will beat us. However.....we have been spending our annual 4% for over 20 years now.....and still have a net worth that is higher than it was when we started down this path. Maybe 30% more. But is that keeping up with inflation? Hardly. At the same time, we live nicely.....and I do not worry about money and my planner says their is 99% chance we will not outlive our wealth.....so why take on more risk? Point taken. I sure get where you are coming from. We're a couple years apart in this journey. I will likely feel just like you as I get older. I'd like to leave a legacy for the next generation, but I also want for my wife and I to live a cushy existence (by our definition)for as long as we're around.
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Post by Foggy on Aug 3, 2024 17:48:38 GMT -6
I'm somewhat in the same boat as you on this issue Stu. I always think my planner is not aggressive enough....and that we are not getting as high of ROI as I would like......thus I fear in the long run......that inflation will beat us. However.....we have been spending our annual 4% for over 20 years now.....and still have a net worth that is higher than it was when we started down this path. Maybe 30% more. But is that keeping up with inflation? Hardly. At the same time, we live nicely.....and I do not worry about money and my planner says their is 99% chance we will not outlive our wealth.....so why take on more risk? Point taken. I sure get where you are coming from. We're a couple years apart in this journey. I will likely feel just like you as I get older. I'd like to leave a legacy for the next generation, but I also want for my wife and I to live a cushy existence (by our definition)for as long as we're around. We've been able to help our kids and our grandkids via some gifting each year.....and that feels good. They have basically saved any gifting we have provided, but that has freed up some of their money to live a better quality of life.....or to get a good education. Our kids tell us that watching how we have provided for them will enable them to do likewise. Only thing is....hope nobody gets "spoiled" by life getting "too easy" for them. I dont think so....as we have had some discussion about this. They gotta be smart enough to know.....or not. Cannot control everything. EDIT: I like to think we are providing a "hand up" and not a hand-out. I think they feel the same way.
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Post by smsmith on Aug 3, 2024 18:18:44 GMT -6
I sure get where you are coming from. We're a couple years apart in this journey. I will likely feel just like you as I get older. I'd like to leave a legacy for the next generation, but I also want for my wife and I to live a cushy existence (by our definition)for as long as we're around. We've been able to help our kids and our grandkids via some gifting each year.....and that feels good. They have basically saved any gifting we have provided, but that has freed up some of their money to live a better quality of life.....or to get a good education. Our kids tell us that watching how we have provided for them will enable them to do likewise. Only thing is....hope nobody gets "spoiled" by life getting "too easy" for them. I dont think so....as we have had some discussion about this. They gotta be smart enough to know.....or not. Cannot control everything. EDIT: I like to think we are providing a "hand up" and not a hand-out. I think they feel the same way. My folks grew up poor. Poor like most people couldn't understand today. Dad was wicked smart with investments, but poorly "educated". Mom was likely smarter and way more educated (enough credits for a PhD but didn't kiss the right butts) but not a money or investment person. Both did their best to improve my sister's and my life. If I am fortunate enough to be able to provide a legacy for my stepkids I'll be very happy to be able to further my folks' beliefs.
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Post by Foggy on Aug 3, 2024 18:55:31 GMT -6
We've been able to help our kids and our grandkids via some gifting each year.....and that feels good. They have basically saved any gifting we have provided, but that has freed up some of their money to live a better quality of life.....or to get a good education. Our kids tell us that watching how we have provided for them will enable them to do likewise. Only thing is....hope nobody gets "spoiled" by life getting "too easy" for them. I dont think so....as we have had some discussion about this. They gotta be smart enough to know.....or not. Cannot control everything. EDIT: I like to think we are providing a "hand up" and not a hand-out. I think they feel the same way. My folks grew up poor. Poor like most people couldn't understand today. Dad was wicked smart with investments, but poorly "educated". Mom was likely smarter and way more educated (enough credits for a PhD but didn't kiss the right butts) but not a money or investment person. Both did their best to improve my sister's and my life. If I am fortunate enough to be able to provide a legacy for my stepkids I'll be very happy to be able to further my folks' beliefs. Yep.....about all we can do. My folks and that of my wife all grew up on depression era farms. No easy street for anyone. My dad made it "big" in the business world until he died when I was 18 and he left a huge mess for me and all his family. I spent years growing up and out from that mess (maybe never recover from some of those lessons?) ....and it left a huge mark on me. Also was my "college" education via the school of hard knocks. (I say I graduated magna cum-lade....grin). My mom persevered and my sisters had varied outcomes based on our youth, education and experiences. I feel bad about two of them....sad lives.....IMO. The thing is.....we all are dealt a hand.....and what we do with it is up to us and our fate in life. I certainly failed and failed some more....but somehow always got back up. Not everyone is able to do that I suppose. I certainly had allot of help via a great wife and partner in life. I got some scars....but have been blessed. I'd like to say I have no regrets.....but nobody should grow up the way I did.
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Post by kooch on Aug 3, 2024 22:50:05 GMT -6
I’m better off than my parents. Who really have almost nothing to pass down in the way of inheritance. I think they raised me well and I never felt poor. We weren’t. But we were not rich.
I hope to leave more for my kids to help them with some sort of generational wealth. What they do with it will be up to them. They’ll either squander it or they won’t.
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Post by Sandbur on Aug 4, 2024 4:07:36 GMT -6
My Dad and Grandparents lived on a farm north of Foggy’s. Fish and venison , pork, and the garden got them through the 30’s.
They said they felt rich compared to cousins from the cities.
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Post by MoBuckChaser on Aug 5, 2024 6:47:59 GMT -6
Hold onto your jock straps kids. Going to be an ugly day today. lol
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Post by smsmith on Aug 5, 2024 7:10:05 GMT -6
Maybe a recession will be "good" for the election
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Post by buckvelvet on Aug 5, 2024 7:10:36 GMT -6
Hold onto your jock straps kids. Going to be an ugly day today. lol Suspenders may not be enough.
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Post by MoBuckChaser on Aug 5, 2024 7:11:27 GMT -6
Hold onto your jock straps kids. Going to be an ugly day today. lol Suspenders may not be enough. Could see some great buying opportunities in the next few days.
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Post by Sandbur on Aug 5, 2024 7:16:29 GMT -6
Maybe a recession will be "good" for the election Speaking of the stock market and the election brings back the same old saying. When things are going bad, it’s going to get better, but when things are going good, the $hit is about to hit the fan.
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Post by smsmith on Aug 5, 2024 7:26:14 GMT -6
Maybe a recession will be "good" for the election Speaking of the stock market and the election brings back the same old saying. When things are going bad, it’s going to get better, but when things are going good, the $hit is about to hit the fan. right now, I think things regarding the stock market are going bad and will continue to get worse for at least a few weeks
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