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I know exactly what you mean ,but my plan is tailored to the manutory installment withdraw age of 72 years old..That's 10 years from now,then my will be mostly T-bills....Yea,that 2.5 % is not better than Social Security 1.5 % cost of living.....I keeep telling my Repulican friends "your Republicans are killing me."...lol
I hope your investments are tailored to someone with an earlier exit date than mine. Not too early, mind you, just a bit earlier. At 48, I'm still concerned with any loss, even if on paper. I use Jones as well, and my guy has been busy as a beaver as well. I think I scared him in Feb when I thought 10,500 was in sight, and even worse when I told him I thought 8,500 might be possible with this latest news. Good thing he is not in a multi story building if he decides to jump!With the alternative of a 2 1/2% CD, what do you do? Lose another 10-15%?
I was exaggerating a little bit ,but my wife is not a happy camper watching my IRAs lose it's value...I'm 62 years old my investments are with Edward Jones ....Too old to gamble a lifetime of savings.....His phone line is always busy,he got to get another line..lol
Mike: Your portfolio shouldn't be wiped out unless you feel that every stock, and every fund that you owe goes broke and has no value at all. Or you are buying on some type of margin/hedge. If you doing that, you are gambling, not investing.Agreed that a bailout is coming in some form. I started to jump out of the market back in Feb., but backed away due to expense (the freight will kill you jumping around) and low alternative interest rates. Never ignore your first instincts
Well about 7 consecutive days of the market failing will probably wipe out my portfolio. (2) panic will set in, causing depositors to pull out up to $100,000 of their savings(banks will fail)unemployment will rise,depression will start...I do believe Paulson knew how bad things were 6 months ago, now just before congress is set to go on recess he tries to cram down his version of a bailout.....When Kramer panics ,I tend to listen.......Letting the market fall might have worked in 2001....IMO Like I said ,I believe 80% of these notes are good so in two years the government should make about $200 billion on this deal.I think all our thoughts will be just that..I think congress will pass the bailout this week-end.
Two options appear to be 1. a more controled spending cap than requested. likely will lead to a lame duck coming back to Congress before the end of the year. or a new administration 2. let the market fall and wash out the bad debt right away.I lean towards letting the market fall now, since the downturn will likely be shorter than delaying the process. Tough decision, especially for those looking to cash out investments right now. It seems that our choice is to let the Dow floader around 10,500 to 11,000 for the next few years, or fall to around 8,500 right away and come back to a higher level within a year or two.To say nothing of the additional interest added to our already massive debt.