Retirement Plans...Confused?

2

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  • norm
    norm Posts: 31,146
    http://en.wikipedia.org/wiki/Superannuation_in_Australia

    just in case anyone else hadn't fucking clue what cate was talking about :o:D
  • know1
    know1 Posts: 6,801
    Steve Dunne wrote:
    In looking at my retirement plan(s), I realized that in the last year I was losing money in all the stocks/bonds/etc that I was enrolled in. I am quite ignorant on all the jargon of Wall St and retirements, etc, but I at least tell when things aren't going well.

    Anyone else confused when looking at quarterly statements? I've been fairly aggressive with the allocations, but man I've taken a beating this year. Not sure how to rebound with this.

    *disclaimer*...i know...probably my age here, but almost everyone will encounter this at some point in their lives. :)


    It's down across the board. You need to think in terms of the amount of time that you have to retire - not returns from one year or a short period of time. 7 years ago, my accounts lost 30% in one year. It made it all up and then quite a bit more in the few years that followed. If you're within a year or two of retirement, then you need to think about putting it in a money market account to protect it from losses. But if you're more than that, let it ride and don't look at it very often.
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
  • Steve Dunne
    Steve Dunne Posts: 4,965
    thanks all for your contributions to this...it is heartening. I don't really plan on changing anything because i do have plenty of time until retirement. but my issue is that i'm just freakin ignorant when it comes to this stuff. the more i try to learn about it, the more confused i get. kind of like calculus.
    I love to turn you on
  • Lizard
    Lizard So Cal Posts: 12,091
    Retirement plans?

    I plan on living high off the hog on my social security check!!!
    So I'll just lie down and wait for the dream
    Where I'm not ugly and you're lookin' at me
  • eyedclaar
    eyedclaar Posts: 6,980
    Lizard wrote:
    Retirement plans?

    I plan on living high off the hog on my social security check!!!

    I plan on robbing folks who bothered saving their money.
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  • blackredyellow
    blackredyellow Posts: 5,889
    I'm going to pull out all of my money in my declining 401k, and invest it into something with a better return...like scratch-off tickets.
    My whole life
    was like a picture
    of a sunny day
    “We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
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  • sweet adeline
    sweet adeline Posts: 2,191
    stocks are like socks. you always have to buy them, they are just on sale right now.
  • F5
    F5 Posts: 794
    Steve Dunne wrote:
    In looking at my retirement plan(s), I realized that in the last year I was losing money in all the stocks/bonds/etc that I was enrolled in. I am quite ignorant on all the jargon of Wall St and retirements, etc, but I at least tell when things aren't going well.

    Anyone else confused when looking at quarterly statements? I've been fairly aggressive with the allocations, but man I've taken a beating this year. Not sure how to rebound with this.

    *disclaimer*...i know...probably my age here, but almost everyone will encounter this at some point in their lives. :)
    Pick up the new issue of "Money" it has some good articles about this.
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  • meistereder
    meistereder Posts: 1,577
    sweet adeline wrote:
    stocks are like socks. you always have to buy them, they are just on sale right now.


    So this is what they pay you the big bucks for, eh?

    :)
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  • sweet adeline
    sweet adeline Posts: 2,191
    meistereder wrote:
    So this is what they pay you the big bucks for, eh?

    :)

    pretty much, its about as deep a level of thinking as i like to go with my clients :)
  • riffrandall
    riffrandall Posts: 685
    sweet adeline wrote:
    stocks are like socks. you always have to buy them, they are just on sale right now.

    Whenever anyone uses the words "sale" or "fire sale" or "warehouse sale" or "clearing house" to describe the price of stocks when the market is down, it makes my ass twitch.
    "If you're looking for someone to pull you out of that ditch, you're out of luck."
  • anotherclone
    anotherclone Posts: 1,688
    I haven't opened my retirement account mailing for the past 18 months. I just shove them in a drawer when I get them. I'm sure if I opened them, I'd just want to kill myself.

    My husband opened his the other day and walked into the den and said "well, I regret doing that", and threw it with the others.

    I'm in it for the long haul, so at this point "deinal" works nicely for me.
  • Steve Dunne
    Steve Dunne Posts: 4,965
    sweet adeline wrote:
    pretty much, its about as deep a level of thinking as i like to go with my clients :)

    D you do this stuff for a living? As they say in Boston, you must be wicked smaht!!!
    I love to turn you on
  • Fighting Hellfish
    Fighting Hellfish Posts: 3,175
    as long as you're not reitring soon, losing money in a 401 isn't such a bad thing. you're buying the stocks cheap. Jut hang in there, and make sure the investments are solid
  • nfanel
    nfanel Posts: 2,558
    Steve Dunne wrote:
    D you do this stuff for a living? As they say in Boston, you must be wicked smaht!!!
    if his investing skills are anything like his scrabulous skills, i'd trust him with my money. :p:D
  • riffrandall
    riffrandall Posts: 685
    Steve Dunne wrote:
    D you do this stuff for a living? As they say in Boston, you must be wicked smaht!!!

    You really don't have to be at all smart to be a decent advisor, especially if you work for the big F (Fidelity). It's all an act.
    "If you're looking for someone to pull you out of that ditch, you're out of luck."
  • sweet adeline
    sweet adeline Posts: 2,191
    Steve Dunne wrote:
    D you do this stuff for a living? As they say in Boston, you must be wicked smaht!!!

    yes, i'm a financial planner. its fuckin pissah ;)
  • sweet adeline
    sweet adeline Posts: 2,191
    nfanel wrote:
    if his investing skills are anything like his scrabulous skills, i'd trust him with my money. :p:D

    thanks. please send all checks to me, payable to sweet adeline ;)
  • Lizard
    Lizard So Cal Posts: 12,091
    I dunno......i thought sweet's retirement is all tied up in POSTERS!!!!!!!!!!! ;)
    So I'll just lie down and wait for the dream
    Where I'm not ugly and you're lookin' at me
  • Yellow Bedwetter
    Yellow Bedwetter NYC Posts: 2,832
    I'm a Financial Advisor...PM me if any of you guys have questions
    My job is to help people plan for retirement
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