SoReadyToRetire
Recycles dryer sheets
My DH and I went to mostly cash in our retirement accounts mid-2020. We're currently sitting on about $1M in money market funds. I also have a "play money" account with about $138K in it.
Now we're trying to figure out when the heck to dive back into the market.
At the start of this year, we were thinking something horrible was looming as a result of the economic destruction caused by the Covid virus. So we keep waiting and waiting for some kind of "significant" (subjective term) drop where we'll feel good about getting back in.
As you well know, all the indexes are now at or near all-time highs. I remember the former president wearing a hat with "30,000" on the front at a news conference back when the Dow hit that number, because it felt amazingly high. And now?--it's over 33.5K! Unbelievable.
Does anyone here still think something "catastrophic" is bound to happen later this year? It just feels like everything is SO high, it's a dumb time to even consider getting back in.
I know this is bottom-line a question about market timing, which never works. So I suspect what we SHOULD do is just decide on some percentage and put that much back into the market say, once per month, until we're back in completely--so basically dollar cost averaging.
Thoughts?
BTW, I retired in Feb 2020 at age 61 and my younger spouse is still working a $40K-year job that pays for our health insurance and most of our bills. I took a part-time job 12-15 hrs/week just to keep my sanity last Spring, so that covers "extra" stuff like personal training and gifts. We don't need any of the money in our IRAs for at least a couple of years.
Thanks.
Now we're trying to figure out when the heck to dive back into the market.
At the start of this year, we were thinking something horrible was looming as a result of the economic destruction caused by the Covid virus. So we keep waiting and waiting for some kind of "significant" (subjective term) drop where we'll feel good about getting back in.
As you well know, all the indexes are now at or near all-time highs. I remember the former president wearing a hat with "30,000" on the front at a news conference back when the Dow hit that number, because it felt amazingly high. And now?--it's over 33.5K! Unbelievable.
Does anyone here still think something "catastrophic" is bound to happen later this year? It just feels like everything is SO high, it's a dumb time to even consider getting back in.
I know this is bottom-line a question about market timing, which never works. So I suspect what we SHOULD do is just decide on some percentage and put that much back into the market say, once per month, until we're back in completely--so basically dollar cost averaging.
Thoughts?
BTW, I retired in Feb 2020 at age 61 and my younger spouse is still working a $40K-year job that pays for our health insurance and most of our bills. I took a part-time job 12-15 hrs/week just to keep my sanity last Spring, so that covers "extra" stuff like personal training and gifts. We don't need any of the money in our IRAs for at least a couple of years.
Thanks.