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Old 06-02-2010, 08:35 AM   #61
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Wow. I go away to California for a week and come back to the market tanking again and the board on a manic binge. I guess I too have to weigh in on the optimism side. Like others a diversified portfolio and modest spending (compared to means) made the crash tolerable. Of course, a fed pension helps ease the worries. Like some others I do worry a bit about the kids but I hope to leave a substantial estate that would help them through the end game if things don't work out well for them.
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Old 06-02-2010, 09:00 AM   #62
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Get nimble, get out of the way, relax, and enjoy the show. It appears the callers of a deflationary depression might be correct. Preserve capital, watch prices continue to decline, and feel richer. Profits are gonna take a little work and you will have to take a little more responsibility, but there is no reason to get hurt. Instead of diversification, targeted diversification will be the rule.
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Old 06-02-2010, 02:58 PM   #63
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I'm feeling pessimistic, but it's not due to our own investments. We were very conservative and have rolled through the Great Recession (so far) with modest losses. However, our kids have all been hit badly by these events, and I see that coming back to us.
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Old 06-02-2010, 03:16 PM   #64
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Interestingly, a lot of you worry about your kids' future. Well, if you are older than 55, I am young enough to be one of your kids. Yet everyone tells me to chill...

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Old 06-02-2010, 03:42 PM   #65
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I feel fine. I'm retiring in a few weeks and I've done my homework. I have a massive spreadsheet that indicates that over many years, even if my assets go down they have time to go up again.

That said, I do watch my investments closely (which I enjoy doing) to keep an income stream flowing - I don't have a pension. I do kind of count on SS... wheeeeeeeee.
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Old 06-02-2010, 04:03 PM   #66
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Interestingly, a lot of you worry about your kids' future. Well, if you are older than 55, I am young enough to be one of your kids. Yet everyone tells me to chill...
Whew...I missed being your momma by 3 years!

Ehhh, but seriously, IMO most parents worry about their children regardless of how good/bad the times are. If I were your momma (but I'm not 'cause I'm waaaay too young ), I'd tell you to do the best you can; if you can change something for the better...then do it. The stuff you cannot change...well, chill and be grateful for all you have.
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Old 06-02-2010, 04:08 PM   #67
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All is good right now. The only thing I worry about is job loss. As long as I keep my job for another 15 years there should be no worries. However, my employer is getting consistently worse to work for. A lot of people are either quiting or getting fired. It's pretty miserable but without a college degree i'd be lucky to find a job that paid more than half of what i'm making now. I could get by on half the income, ~$24K/yr, but wouldn't be able to save for ER.
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Old 06-02-2010, 04:09 PM   #68
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Interestingly, a lot of you worry about your kids' future. Well, if you are older than 55, I am young enough to be one of your kids. Yet everyone tells me to chill...
We're mostly worried about having you boomerang back onto our doorsteps, perhaps with spouses/significant others and kids of your own in tow...

... otherwise we don't worry about you at all!
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Old 06-02-2010, 04:15 PM   #69
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We're mostly worried about having you boomerang back onto our doorsteps, perhaps with spouses/significant others and kids of your own in tow...

... otherwise we don't worry about you at all!


That's what I thought!
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Old 06-02-2010, 04:37 PM   #70
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All is good right now. The only thing I worry about is job loss. As long as I keep my job for another 15 years there should be no worries. However, my employer is getting consistently worse to work for. A lot of people are either quiting or getting fired. It's pretty miserable but without a college degree i'd be lucky to find a job that paid more than half of what i'm making now. I could get by on half the income, ~$24K/yr, but wouldn't be able to save for ER.
I'm sorry your job situation is not going so well. However....

IIRC, you will have your home paid off in a year and you're only 30. This and the fact that you can live on $24k a year must give you peace of mind. I'm old enough to be your momma...and I'm very proud of you.
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Old 06-02-2010, 04:39 PM   #71
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We're mostly worried about having you boomerang back onto our doorsteps, perhaps with spouses/significant others and kids of your own in tow...

... otherwise we don't worry about you at all!
I'm mostly worried about getting mine out of the house the first time.
That's when all the good tips on job opportunities from you guys come into play.
As soon as that happens the wife & I will disappear into the sun set and leave no forwarding address. Yep, thats the ticket !

Steve
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Old 06-02-2010, 05:19 PM   #72
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Interestingly, a lot of you worry about your kids' future. Well, if you are older than 55, I am young enough to be one of your kids. Yet everyone tells me to chill...


Parents always worry about their children . My Mom is 93 and still worrying about us .
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Old 06-02-2010, 07:33 PM   #73
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I'm mostly worried about getting mine out of the house the first time.
That's when all the good tips on job opportunities from you guys come into play.
As soon as that happens the wife & I will disappear into the sun set and leave no forwarding address. Yep, thats the ticket !

Steve
You sound like my parents - as soon as my brother and I moved out they sold their house and traded down to a townhouse to make sure that there were no spare bedrooms for us to move back into. When my sister left home, they sold the townhouse for an apartment which they remodeled to ensure that there was no bedroom for her to move back into.
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Old 06-02-2010, 07:34 PM   #74
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You sound like my parents - as soon as my brother and I moved out they sold their house and traded down to a townhouse to make sure that there were no spare bedrooms for us to move back into. When my sister left home, they sold the townhouse for an apartment which they remodeled to ensure that there was no bedroom for her to move back into.
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Old 06-02-2010, 07:47 PM   #75
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You sound like my parents - as soon as my brother and I moved out they sold their house and traded down to a townhouse to make sure that there were no spare bedrooms for us to move back into. When my sister left home, they sold the townhouse for an apartment which they remodeled to ensure that there was no bedroom for her to move back into.
About a month before my senior year in college, my parents told me they were moving from NY to AL. I had to declare myself financially independent (to keep my scholarship) and take out a federal loan for my last year.

They moved from a 3 bedroom house with a basement to a 2 bedroom house without a basement.

Didn't really bother me, I was already gone.
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Old 06-02-2010, 10:30 PM   #76
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Parents always worry about their children . My Mom is 93 and still worrying about us .
Tell them not to worry because you are doing well in all aspects of your life.
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Old 06-03-2010, 09:46 AM   #77
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We're mostly worried about having you boomerang back onto our doorsteps, perhaps with spouses/significant others and kids of your own in tow...

... otherwise we don't worry about you at all!
one solution to the problem of boomerang kids is to move to a 55+ community. A friend of ours did pretty much based on the community rule that no guests are allowed for more than two weeks.
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Old 06-03-2010, 02:31 PM   #78
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one solution to the problem of boomerang kids is to move to a 55+ community. A friend of ours did pretty much based on the community rule that no guests are allowed for more than two weeks.
Ah, I like that tactic. Gonna have to think about that some more...
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Old 06-03-2010, 04:11 PM   #79
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What if the last 25 yrs or so, 1980 or so until now, have really been an anomaly?
Instead of 20 yrs of double digit up-markets & amazing real estate gains...remove that from your portfolio....and substitute the meat grinder, low single digit real returns we've seen & might expect for a while....where would you be today?
For pre-retirement folks moving forward, this entire investment / retirement thing is now a different ball game.
I'm amazed there's so much focus here on "how things have worked in the past".
The past is gone, and using it to project the future is very dangerous.

I used to work in the finance industry & have witnessed that the house-ATM has been a massive driver for the US economy. It allowed everyone to party-on for a decade or more.
That game's over.
Nothing now to replace it.
The rising middle classes of Asia, mentioned in one earlier post.....this is NOT a positive for the USA. It's a negative, since we don't produce anything they can't buy cheaper at home. Instead they take "our" jobs and compete for world natural resources.

My outlook for MYSELF...secure and already well funded. However, that's a selfish attitude.....because for the others... 90% of the population....welfare, Walmart or work4ever. Some ( American ) dream!

It appears that maintaining a happy outlook is more a state of mind, not a state of the economy.
Who was it said " The American Dream is well named, you have to be asleep to believe it"
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Old 06-03-2010, 04:16 PM   #80
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You sound like my parents - as soon as my brother and I moved out they sold their house and traded down to a townhouse to make sure that there were no spare bedrooms for us to move back into. When my sister left home, they sold the townhouse for an apartment which they remodeled to ensure that there was no bedroom for her to move back into.
That's exactly what we did when our 2 kids left.
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