[Otters27]

My uncle is starting to stress.

[newguy]

If your 55 be worried but hopefully you aren't over exposed. If your 35 let things shake out a bit

[Otters27]

If your 55 be worried but hopefully you aren't over exposed. If your 35 let things shake out a bit

My uncle is 70. He does not have a Financial advisor. Just hope the crooks don't steal all his money

[The Kraken]

I converted mine to cash 18 months ago

Moved from Oklahoma to Washington State, and then cashed out to avoid Oklahoma State taxes

Turned out to be one of the greatest financial decisions of my life, because we were so heavily invested in the oil and gas industry

By cashing out and moving to a state without state taxes, it saved us over 100k

[mr. leisure]

If your 55 be worried but hopefully you aren't over exposed. If your 35 let things shake out a bit

Elaborate please

[jose21_us]

My uncle is starting to stress.

Fuk no!

[BIGDAY]

Kraken you sharp Fuk!

[newguy]

My uncle is 70. He does not have a Financial advisor. Just hope the crooks don't steal all his money

He should already be in cash or similar things. His growth period should be over. This is maintenance and dividend paying stocks. Bonds although I keep thinking we are gonna see a sell off there too

[Otters27]

I converted mine to cash 18 months ago

Moved from Oklahoma to Washington State, and then cashed out to avoid Oklahoma State taxes

Turned out to be one of the greatest financial decisions of my life, because we were so heavily invested in the oil and gas industry

By cashing out and moving to a state without state taxes, it saved us over 100k

Nice job!. I got out of stocks and into gold in August. Hope gold goes up but concerned about my uncle. He does not listent to me.

[brooks85]

yeah 70 is not the time for risk. If he wants a safe long-term play he can start stacking oil stocks but no hurry to do that.

[The Kraken]

Kraken you sharp Fuk!

Let me be clear

I am ONE SHARP MOTHERFUKKER

[Booya711]

Let me be clear

I am ONE SHARP MOTHERFUKKER

Forget the 401K...you left OK which makes you sharp

[DiggityDaggityDo]

Forget the 401K...you left OK which makes you sharp

[The Kraken]

Forget the 401K...you left OK which makes you sharp

[gauchojake]

No. Except if I was 70 in which case I would be shitting bricks if I was investing in stocks for my retirement.

[Reload]

I've held out out from cashing but would really help sometimes. All I hear is that it's a bad financial move, but it can't be any worse than all the cash advances I go through.

I'm down to using my credit card at "Korean department stores" and buying "flowers in Dubai" to raise funds - know what I mean?

[UntilTheNDofTimE]

I'm 65% equities, 35% bonds at age 26. I just keep investing each month. The last year has enabled me to pickup stocks at a discount. If I was within 5 years of retirement j would be about 70% bonds/cash equivalents right now.

[downtown2222]

29 and not touching a thing....75% in aggressive growth, 25% in growth

[Ralphie Halves]

Nobody ever retired comfortably off of a 401K -- unless they were making really good money at their job, then sometimes they still don't.

Super slow growth, that often turns to shit during a recession, which we've had every 7-8 years or so. Then the recovery is so slow, as soon as you get close to breaking even from before -- recession!

[19th Hole]

Moved my IRA account and my stocks and into cash at the end of December on my brother's advice....
Looks like it's favorable for me.

[stevenash]

Otters gets it, gold is where you need to be.
i have some dividend stock NRZ and FTR but I'm 80 percent cash

[PittsburghPlayer]

97 % of us will be working until the day we die. Retirement will be a lifestyle of the past for MOST.

[ChuckyTheGoat]

97 % of us will be working until the day we die. Retirement will be a lifestyle of the past for MOST.

Bullshit. Stop thinking like that.

[ChuckyTheGoat]

The stock market is pure-crap, imho. How many years has it been since this shithole produced?

Think it's something like L12 years, flat return (b4 all the bullshit investment-advisor fees).

[Ralphie Halves]

Bullshit. Stop thinking like that.

He's not wrong, unfortunately.

New generation doesn't want to work that badly. Minorities have almost no savings -- I don't speak in absolutes, but almost all of blacks and hispanics have very small savings if any. And everyone else is about as investing-illiterate as can be. And the ones that actually know a thing or two don't have the money management skills to make it work long-term.

The worst part about it IMO is the do-it-yourself investment platforms. A lot of brokers suck at it too, but most of the public DEFINITELY sucks at investing, and it has become ridiculously easy to do to. So the ones that actually have retirement money just go and F it up.

So who does that even leave? Less than 3% probably.

[The Kraken]

Unfortunately, pensions are rarely found any more. There are a few that are left, generally state, and more than half of them are life support. Going forward, social security will be the primary source of income for a majority of the people, I would expect this is true of 90% of SBR'ers. Followed by a measly 401k.

[RudyRuetigger]

fukk gold

just invest in property

they wont be finding more of that

[CanuckG]

working for the govt. my pension will be nice. Will look into investments soon.

[chico2663]

still had to pay 10 percent penalty and whatever your federal tax status.

[newguy]

Unfortunately, pensions are rarely found any more. There are a few that are left, generally state, and more than half of them are life support. Going forward, social security will be the primary source of income for a majority of the people, I would expect this is true of 90% of SBR'ers. Followed by a measly 401k.

Defined benefit pension plans CRUSHED companies - its just too much - which is why no one has them anymore. The cost of maintaining those benefits in the world of inflating healthcare prices and longer lives just makes them impossible. Which is exactly why anyone who still has them are on life support.

If you aren't saving money for retirement for yourself you (and not you Kraken - the "royal you") are screwed and deserve the lifestyle you will have in retirement. Social security will hopefully be around in some form but that won't be enough to have any sort of life on - just enough to keep a roof over your head. I really hope your wrong Kraken about people not saving. If gov takes away social security from some to give more to others who didn't live right - thats gonna be a shame. Nothing like rewarding fiscal irresponsibility!

[eidolon]

70 year old should cash out.
At beginning of April buy oil.

[stevenash]

At beginning of April buy oil.

12 percent gain today.
Biggest one day percentage gain in 7 years, I'm no expert but I think oil has bottomed.
I hear OPEC is going to cut some production, they don't want to, but there is no other way to slow down the supply.

My sister in NJ is paying 1.39 a gallon.
I'm in Ct. where every thing is taxed to the heavens, and I'm paying 1.69, ridiculous.

[stevenash]

Nobody ever retired comfortably off of a 401K -- unless they were making really good money at their job, then sometimes they still don't.

Super slow growth, that often turns to shit during a recession, which we've had every 7-8 years or so. Then the recovery is so slow, as soon as you get close to breaking even from before -- recession!

I was told this at an early age, simple.

It's not what you make, it's what you keep.

[UntilTheNDofTimE]

Nobody ever retired comfortably off of a 401K -- unless they were making really good money at their job, then sometimes they still don't.

Super slow growth, that often turns to shit during a recession, which we've had every 7-8 years or so. Then the recovery is so slow, as soon as you get close to breaking even from before -- recession!

Ive made over 300% since the recession began. As long as you continue to dollar cost average and have a decent understanding of sector rotation you'll be fine. I quit gambling as much 5 years ago, saved 35% of my income and now have over a quarter million invested that would have probably been gambled and lost. I'll have a cool 2 million easily off my 401k investments in my 50's and a pension. But the stock market is a SCAM...

[jjgold]

Anyone with a financial advisor should jump off a clip

They know nothing and. Polecat fees