Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 04-15-2020, 02:39 PM   #101
Recycles dryer sheets
 
Join Date: Sep 2018
Location: High Plains Non-Drifter
Posts: 314
A bad day in the stock market today is vastly less stressful than what the Apollo 13 astronauts were dealing with 50 years ago today, literally to the very minute: https://apolloinrealtime.org/13/
WyomingLife is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-16-2020, 07:04 AM   #102
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,439
Quote:
Originally Posted by WyomingLife View Post
A bad day in the stock market today is vastly less stressful than what the Apollo 13 astronauts were dealing with 50 years ago today, literally to the very minute: https://apolloinrealtime.org/13/
Yes, it is definitely extremely stressful to the astronauts for a few moment. But a financial crisis could lead to a recession, massive unemployment, higher levels of anxiety, stress and depression for an indefinite period. A large number of people will be negatively affected instead of a few astronauts.
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Old 04-16-2020, 07:05 AM   #103
Recycles dryer sheets
 
Join Date: Jun 2014
Location: Central FLA
Posts: 280
That the shade provided by the trees I am sitting under, is the result of seeds I planted a long time ago.
SunnyOne is offline   Reply With Quote
Old 04-16-2020, 07:53 AM   #104
Thinks s/he gets paid by the post
 
Join Date: Oct 2011
Location: Philadelphia
Posts: 1,067
I think I've had many of the thing I believe re-enforced and validated.

Its reminded me not to lose my center in terms of be prepared for really bad things to happen.

1) My AA and overall financial approach is sound.

Every part of my financial plan -- equity/bonds/deferred comp/cash/college fund/home equity and LBYM -- is doing what its supposed to right now. I'm down a lot but the balance sheet is water tight, I'm sleeping fine, and have been accelerating money into the market rather than hiding.

2) Its good to work in a large, stable company despite headaches.

3) Glad I paid off the house.

Mathematically it was a bad decision, but on a personal level its "off the list" and even if I did lose my job and the market dropped 90%, we have a roof over our head.

4) Life is not a balance sheet exercise...get out there and enjoy it.

We hosted a family reunion last year. My wife and I thrashed endlessly about whether to spend the money on the ocean front rental or save money and stay back a block. Glad we rented the ocean front. My portfolio goes +/- the cost of the entire reunion each day. But we'll have the pics/memories forever.

This also applies to charity and donating appreciate shares to a donor advised fund when the market is up. A structured, repeated and long term approach to charity is very valuable and counter-cyclical in its own way.

5) Reagan was right ... the scariest words in the English language are "I'm from the government and I'm here to help."

I think history will conclude that the lasting damage was from the government response and not the virus. Both in the lack of preparation for a pandemic (which would have been cheap) and the over-reaction in terms of shutting down the world (which is potentially catastrophic.).

6). Churchhill was right ..."Democracy is the worst form of government, except for all the others."

For whatever problems we're facing in #5, I believe this is China's Chernobyl and the same autocratic instincts that led to that disaster contributed to this one. In the recent "Chernobyl" mini-series they end by saying that "every lie incurs a debt to the truth." Once again, the bill came due.


We should all answer this question again in 90 days!
__________________
Luck is when Preparation meets Opportunity.
Closet_Gamer is offline   Reply With Quote
Old 04-16-2020, 09:09 AM   #105
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 8,718
Quote:
Originally Posted by SunnyOne View Post
That the shade provided by the trees I am sitting under, is the result of seeds I planted a long time ago.
Eloquent! Thank you.
OldShooter is offline   Reply With Quote
Old 04-16-2020, 10:07 AM   #106
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,439
The primary lesson is that "experts" conflict with each other on the direction of the financial markets and actions to take. Some say to hold equities for long term as the markets would eventually recover, some advocate ruining to the hills before losing your shirts, some may say that why play when you have won the game, and some may say to acquire more equities on the cheap. My conclusion is that there are no experts for future events albeit their views do provide some insight and valuable information. At the end of the day, we have to think and decide what's best for our individual situation and goals.
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Old 04-16-2020, 10:11 AM   #107
Thinks s/he gets paid by the post
 
Join Date: Feb 2014
Location: South central PA
Posts: 3,057
This has taught me that a good asset allocation is gold, and also having a cushion. And that all the numbers in the portfolio matter little until you sell assets. You all taught me that having a rainy day cash fund for a year or two allows one to sleep at night.
EastWest Gal is offline   Reply With Quote
Old 04-16-2020, 10:33 AM   #108
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 8,718
Quote:
Originally Posted by Spanky View Post
The primary lesson is that "experts" conflict with each other on the direction of the financial markets and actions to take. Some say to hold equities for long term as the markets would eventually recover, some advocate ruining to the hills before losing your shirts, some may say that why play when you have won the game, and some may say to acquire more equities on the cheap. My conclusion is that there are no experts for future events ...
Yes. It's basically the "infinite number of monkeys" scenario. There are enough monkeys making random predictions that some of them will be correct at any given time. You can find the current genius monkeys by reading stories at marketwatch.com and other similar sites. The next time something significant happens these monkeys will be history and a new set will become genius monkeys.



My nomination for genius monkey is the one at the lower right. He doesn't even know what he's typing.
OldShooter is offline   Reply With Quote
Old 04-16-2020, 10:37 AM   #109
Recycles dryer sheets
 
Join Date: Jun 2014
Location: Central FLA
Posts: 280
<<This has taught me that a good asset allocation is gold, and also having a cushion.>>

I don't know much about this - is this an ETF? sorry if I sound ignorant.
SunnyOne is offline   Reply With Quote
Old 04-16-2020, 10:48 AM   #110
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,439
Quote:
Originally Posted by SunnyOne View Post
<<This has taught me that a good asset allocation is gold, and also having a cushion.>>

I don't know much about this - is this an ETF? sorry if I sound ignorant.
I do not think the poster is referring to a Gold ETF. Of course, I could be completely wrong.
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Old 04-16-2020, 12:09 PM   #111
Thinks s/he gets paid by the post
2017ish's Avatar
 
Join Date: Apr 2012
Location: Nashville
Posts: 2,250
Quote:
Originally Posted by Sunset View Post
It has taught me to be more thankful for the trips and cruises that we have taken, even if some seemed a bit excessive/expensive.

As now it looks like it will be a couple of years before any trips across the ponds, and probably 1.3 yrs before any in USA, assuming camp grounds/National Parks open next year.
Agree on the thankfulness for prior trips! We are optimistically/foolishly planning to hit the road in June for domestic travel though. Why 1.3 years in your estimation? (Antarctica this November, not going to happen)
__________________
OMY * 3 2ish Done 7.28.17
2017ish is offline   Reply With Quote
Old 04-16-2020, 01:02 PM   #112
Thinks s/he gets paid by the post
Helen's Avatar
 
Join Date: Oct 2004
Location: Portland
Posts: 1,962
Quote:
Originally Posted by SunnyOne View Post
<<This has taught me that a good asset allocation is gold, and also having a cushion.>>

I don't know much about this - is this an ETF? sorry if I sound ignorant.
Quote:
This has taught me that a good asset allocation is gold, and also having a cushion.
Maybe the poster meant golden and not gold?
Helen is offline   Reply With Quote
Old 04-17-2020, 09:01 AM   #113
gone traveling
 
Join Date: Feb 2012
Posts: 148
We've not learned but we have confirmed:

1) sell when high, buy when low is the way to roll
2) maintain 3 years of "safe" money to ride out the storms
3) remain calm, this too shall pass
Rex is offline   Reply With Quote
Old 04-17-2020, 11:00 AM   #114
Thinks s/he gets paid by the post
ER Eddie's Avatar
 
Join Date: Mar 2013
Posts: 1,687
That I'm really not subject to loneliness. I'm cut off from all friends, family, and social activities, and I'm doing just fine. Earlier, I heard Dr. Phil talk about how loneliness is a killer, and it struck me that I haven't felt a bit lonely.
ER Eddie is offline   Reply With Quote
Old 04-18-2020, 06:04 AM   #115
Recycles dryer sheets
blueskyk's Avatar
 
Join Date: Mar 2010
Location: Southern UT
Posts: 368
Discovered Iím actually a very good companion to myself...
__________________
"Not knowing when the dawn will come, I open every door." Emily Dickinson
blueskyk is offline   Reply With Quote
Old 04-18-2020, 07:05 AM   #116
Full time employment: Posting here.
BeachOrCity's Avatar
 
Join Date: Jun 2016
Posts: 875
Reinforced that there are huge silent incentives for people of many professions (politicians, media types, financial pundits, etc)....to tell you only the facts that align with their interests not yours.

When in doubt do your own investigation.
BeachOrCity is offline   Reply With Quote
Old 04-18-2020, 07:16 AM   #117
Thinks s/he gets paid by the post
ER Eddie's Avatar
 
Join Date: Mar 2013
Posts: 1,687
Quote:
Originally Posted by OldShooter View Post
My nomination for genius monkey is the one at the lower right. He doesn't even know what he's typing.
lol. Reminds me of the idea that if you had a million monkeys randomly typing away, eventually they'd produce Hamlet. Turns out, that's not true. They ran some monkey computer simulation, and they didn't even come close to a Days of Our Lives episode, much less Hamlet.
ER Eddie is offline   Reply With Quote
Old 04-18-2020, 07:31 AM   #118
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 9,826
Quote:
Originally Posted by ER Eddie View Post
lol. Reminds me of the idea that if you had a million monkeys randomly typing away, eventually they'd produce Hamlet. Turns out, that's not true. They ran some monkey computer simulation, and they didn't even come close to a Days of Our Lives episode, much less Hamlet.
Hey hey, that is my DGF's favorite soap opera.
__________________
TGIM
Dtail is offline   Reply With Quote
Old 04-18-2020, 10:25 AM   #119
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 13,899
Quote:
Originally Posted by 2017ish View Post
Agree on the thankfulness for prior trips! We are optimistically/foolishly planning to hit the road in June for domestic travel though. Why 1.3 years in your estimation? (Antarctica this November, not going to happen)
Partially, I'm preparing myself mentally for no travel this year.

I don't really expect much improvement in this covid-19 situation, just more of the same, except things will open up as lock down cannot continue forever. No vaccine for at least a year.

What this means is while we might be able to drive around/fly, in a few months, it will be at a time when there are a lot more infectious people out there. So it will be more risky over the next year than right now.

We are in a risky group, if we were 25, I'd probably be on the road now with a tent.

Normally in Summer we might drive up to Canada, but the border is closed and even between provinces and areas within Canada, they have set up road blocks to close off/stop tourist type folks. I'm doubtful they will open up for tourists come Summer, as they fear their hospitals will be over-run.

I'm not booking any travel outside of USA right now, as still working on getting refunds for our cancelled trip this Spring, as well as waiting for more clarity on what will be available (cruise lines? , flights? , countries allowing tourists ?)
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline   Reply With Quote
Old 04-18-2020, 01:48 PM   #120
Full time employment: Posting here.
 
Join Date: Aug 2015
Posts: 963
Quote:
Originally Posted by athena53 View Post
Totally agreed- we don't know enough about the consequences of the shutdowns, furloughs, bail-outs, etc....I can even switch to SS on my own record and get a bump- I'm getting Survivor Benefits and I'm 67 now, hoping to wait till FRA.
Umm, if you are 67, you are already past your FRA. Did you mean to say until 70?
Perryinva is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
MS OneDrive Drastic Storage Limit Reduction Amethyst Other topics 18 05-09-2016 09:48 AM
Who would you let know about your financial situation? Toocold FIRE and Money 92 07-03-2014 04:09 PM
Financial Situation When you FIRED. chinaco FIRE and Money 33 06-07-2008 09:18 PM
Drastic Lifestyle Changes after Retirement audreyh1 Life after FIRE 11 04-30-2006 07:44 PM

» Quick Links

 
All times are GMT -6. The time now is 01:19 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.