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IRA’s #3314977
01/06/21 03:12 PM
01/06/21 03:12 PM
Joined: Dec 2009
Posts: 9,375
Jasper, AL
J
joshm28 Offline OP
14 point
joshm28  Offline OP
14 point
J
Joined: Dec 2009
Posts: 9,375
Jasper, AL
Just a reminder but you can convert yours to cash reserves without any penalties as long as you don’t take ANY funds from that account.

Re: IRA’s [Re: joshm28] #3315016
01/06/21 03:42 PM
01/06/21 03:42 PM
Joined: Jan 2002
Posts: 1,138
Cullman
BentBarrel Offline
6 point
BentBarrel  Offline
6 point
Joined: Jan 2002
Posts: 1,138
Cullman
Expecting a market meltdown, are we?


"To anger a conservative, lie to him. To anger a liberal, tell him the truth." - Theodore Roosevelt
Re: IRA’s [Re: joshm28] #3315026
01/06/21 03:48 PM
01/06/21 03:48 PM
Joined: Aug 2001
Posts: 68,972
Luverne, AL
Skinny Offline
GUVNER
Skinny  Offline
GUVNER
Joined: Aug 2001
Posts: 68,972
Luverne, AL
After this crap today...it may be the safe thing to do.


"Never Trust Government" -- Smart people.
"You must have free speech in order to have democracy. That's why it is the First Amendment.
And the Second Amendment is there to ensure that we have the First Amendment." -- Elon Musk 10-6-2024
"You can be broke but you cant be poor." -- Ruthie-May Webster
Re: IRA’s [Re: joshm28] #3315030
01/06/21 03:51 PM
01/06/21 03:51 PM
Joined: Dec 2017
Posts: 367
Inverness, AL
J
jaderhold Offline
4 point
jaderhold  Offline
4 point
J
Joined: Dec 2017
Posts: 367
Inverness, AL
I believe you are witnessing the pump before the dump. No way the market can sustain the current numbers. There is no balance of power now.

Re: IRA’s [Re: joshm28] #3315034
01/06/21 03:52 PM
01/06/21 03:52 PM
Joined: Aug 2018
Posts: 5,822
Georgia and Missouri
Semo Offline
12 point
Semo  Offline
12 point
Joined: Aug 2018
Posts: 5,822
Georgia and Missouri
I have always been a long term minded guy. But, with the market where it sits today and the headwinds on the horizon. I think some rebalancing would be wise...too bad interest rates are crap.

High dividend stocks that could benefit from more restrictions placed on fossil fuel providers might be a good play. The dividends alone smoke anything on the fixed income side.

Last edited by Semo; 01/06/21 03:53 PM.
Re: IRA’s [Re: joshm28] #3315038
01/06/21 03:56 PM
01/06/21 03:56 PM
Joined: Aug 2018
Posts: 5,822
Georgia and Missouri
Semo Offline
12 point
Semo  Offline
12 point
Joined: Aug 2018
Posts: 5,822
Georgia and Missouri
Crony capitalism might make its way back to prominence. Those dem companies like GE will probably get a ton of benefits in upcoming bills.

Re: IRA’s [Re: BentBarrel] #3315042
01/06/21 03:57 PM
01/06/21 03:57 PM
Joined: Dec 2009
Posts: 9,375
Jasper, AL
J
joshm28 Offline OP
14 point
joshm28  Offline OP
14 point
J
Joined: Dec 2009
Posts: 9,375
Jasper, AL
Originally Posted by BentBarrel
Expecting a market meltdown, are we?


Not necessarily a meltdown but it’s gonna take a hit for sure. Especially with the Senate results. The market likes gridlock (republicans controlled senate and a dem president). We have neither

Re: IRA’s [Re: joshm28] #3315045
01/06/21 04:00 PM
01/06/21 04:00 PM
Joined: Aug 2001
Posts: 68,972
Luverne, AL
Skinny Offline
GUVNER
Skinny  Offline
GUVNER
Joined: Aug 2001
Posts: 68,972
Luverne, AL
yup
I am guessing about a 5% hit, nothing to panic about if you hold long. If you are in need of it now, then it may be time to pull the trigger.


"Never Trust Government" -- Smart people.
"You must have free speech in order to have democracy. That's why it is the First Amendment.
And the Second Amendment is there to ensure that we have the First Amendment." -- Elon Musk 10-6-2024
"You can be broke but you cant be poor." -- Ruthie-May Webster
Re: IRA’s [Re: joshm28] #3315052
01/06/21 04:09 PM
01/06/21 04:09 PM
Joined: Dec 2009
Posts: 9,375
Jasper, AL
J
joshm28 Offline OP
14 point
joshm28  Offline OP
14 point
J
Joined: Dec 2009
Posts: 9,375
Jasper, AL
I’m only 42 so I could take a hit and still possibly be ok. With that being said the changes of a huge jump is slim and none, especially with the senate results and what’s currently happening in DC. I converted ALL of mine to cash reserves this afternoon. If the market takes a 10% hit and levels off I’ll jump back in. I know it’s virtually impossible to time the market but Now’s about as good of odds as one will get in my opinion.

Re: IRA’s [Re: joshm28] #3315055
01/06/21 04:11 PM
01/06/21 04:11 PM
Joined: Jun 2015
Posts: 14,368
Some Marriott/Auburn
A
AU7MM08 Offline
Booner
AU7MM08  Offline
Booner
A
Joined: Jun 2015
Posts: 14,368
Some Marriott/Auburn
Originally Posted by joshm28
I’m only 42 so I could take a hit and still possibly be ok. With that being said the changes of a huge jump is slim and none, especially with the senate results and what’s currently happening in DC. I converted ALL of mine to cash reserves this afternoon. If the market takes a 10% hit and levels off I’ll jump back in. I know it’s virtually impossible to time the market but Now’s about as good of odds as one will get in my opinion.


50%TSLA & 50%BTC laugh

Re: IRA’s [Re: joshm28] #3315056
01/06/21 04:11 PM
01/06/21 04:11 PM
Joined: Jul 2010
Posts: 9,691
B'ham
Goatkiller Offline
14 point
Goatkiller  Offline
14 point
Joined: Jul 2010
Posts: 9,691
B'ham

Just remember that the markets are currently NOT based on fundamentals. As long as the printing presses keep running the markets are likely to keep going up.

Well.... Until we have an economic crash.


No government employees were harmed in the making of this mess.
Re: IRA’s [Re: joshm28] #3315063
01/06/21 04:18 PM
01/06/21 04:18 PM
Joined: Jan 2002
Posts: 1,138
Cullman
BentBarrel Offline
6 point
BentBarrel  Offline
6 point
Joined: Jan 2002
Posts: 1,138
Cullman
Originally Posted by joshm28
Originally Posted by BentBarrel
Expecting a market meltdown, are we?


Not necessarily a meltdown but it’s gonna take a hit for sure. Especially with the Senate results. The market likes gridlock (republicans controlled senate and a dem president). We have neither


Get conservative for the short term........or get entirely out, as cash. Whatever your risk tolerance can handle right now.

As for me, waiting to get conservative for the 401K, it can ride a bit longer. The IRA is already out, as of market close today. I expect nothing good for the next 8 years, and at my age that means there isn't enough time to recover.


"To anger a conservative, lie to him. To anger a liberal, tell him the truth." - Theodore Roosevelt
Re: IRA’s [Re: joshm28] #3315070
01/06/21 04:21 PM
01/06/21 04:21 PM
Joined: Jun 2015
Posts: 14,368
Some Marriott/Auburn
A
AU7MM08 Offline
Booner
AU7MM08  Offline
Booner
A
Joined: Jun 2015
Posts: 14,368
Some Marriott/Auburn
Save like a pessimist and invest like an optimist.

Re: IRA’s [Re: BentBarrel] #3315077
01/06/21 04:23 PM
01/06/21 04:23 PM
Joined: Dec 2017
Posts: 367
Inverness, AL
J
jaderhold Offline
4 point
jaderhold  Offline
4 point
J
Joined: Dec 2017
Posts: 367
Inverness, AL
Originally Posted by BentBarrel
Originally Posted by joshm28
Originally Posted by BentBarrel
Expecting a market meltdown, are we?


Not necessarily a meltdown but it’s gonna take a hit for sure. Especially with the Senate results. The market likes gridlock (republicans controlled senate and a dem president). We have neither


Get conservative for the short term........or get entirely out, as cash. Whatever your risk tolerance can handle right now.

As for me, waiting to get conservative for the 401K, it can ride a bit longer. The IRA is already out, as of market close today. I expect nothing good for the next 8 years, and at my age that means there isn't enough time to recover.


Biden is going to wreck the 401K system so get prepared for that.

Re: IRA’s [Re: Goatkiller] #3315079
01/06/21 04:24 PM
01/06/21 04:24 PM
Joined: Jan 2002
Posts: 1,138
Cullman
BentBarrel Offline
6 point
BentBarrel  Offline
6 point
Joined: Jan 2002
Posts: 1,138
Cullman
Originally Posted by Goatkiller

Just remember that the markets are currently NOT based on fundamentals. As long as the printing presses keep running the markets are likely to keep going up.

Well.... Until we have an economic crash.


Yup. Markets are counting on checks to keep coming out of the Treasury and into the hands of the huddled masses. But there is a price to pay for that......they call it "inflation."


"To anger a conservative, lie to him. To anger a liberal, tell him the truth." - Theodore Roosevelt
Re: IRA’s [Re: joshm28] #3315080
01/06/21 04:24 PM
01/06/21 04:24 PM
Joined: Nov 2002
Posts: 6,839
Moulton,AL
Snuffy Offline
14 point
Snuffy  Offline
14 point
Joined: Nov 2002
Posts: 6,839
Moulton,AL
Market Stop Loss is your friend.

Last edited by Snuffy; 01/06/21 04:33 PM.

If you always do what you've always done you always get what you've always got
Re: IRA’s [Re: jaderhold] #3315091
01/06/21 04:32 PM
01/06/21 04:32 PM
Joined: Jan 2002
Posts: 1,138
Cullman
BentBarrel Offline
6 point
BentBarrel  Offline
6 point
Joined: Jan 2002
Posts: 1,138
Cullman
Originally Posted by jaderhold
Originally Posted by BentBarrel
Originally Posted by joshm28
Originally Posted by BentBarrel
Expecting a market meltdown, are we?


Not necessarily a meltdown but it’s gonna take a hit for sure. Especially with the Senate results. The market likes gridlock (republicans controlled senate and a dem president). We have neither


Get conservative for the short term........or get entirely out, as cash. Whatever your risk tolerance can handle right now.

As for me, waiting to get conservative for the 401K, it can ride a bit longer. The IRA is already out, as of market close today. I expect nothing good for the next 8 years, and at my age that means there isn't enough time to recover.


Biden is going to wreck the 401K system so get prepared for that.


What's your thinking here....taxation? Ideas to be prepared?? Always willing to listen to new ideas..........


"To anger a conservative, lie to him. To anger a liberal, tell him the truth." - Theodore Roosevelt
Re: IRA’s [Re: joshm28] #3315153
01/06/21 05:51 PM
01/06/21 05:51 PM
Joined: Sep 2014
Posts: 303
Birmingham, AL
A
AUbowhunter1990 Offline
4 point
AUbowhunter1990  Offline
4 point
A
Joined: Sep 2014
Posts: 303
Birmingham, AL
I don’t think you’re going to see anything too crazy to the downside in the markets. Since the chit storm in March, there has been two 10 percent market corrections in September and October. If anything, the markets will trade sideways.

Re: IRA’s [Re: joshm28] #3315180
01/06/21 06:23 PM
01/06/21 06:23 PM
Joined: Aug 2016
Posts: 3,387
IN
P
ParrotHead89 Offline
10 point
ParrotHead89  Offline
10 point
P
Joined: Aug 2016
Posts: 3,387
IN
I always watch my account but have really been watching since the election. Writing it down once a week and it has gone up 63,000 since election day. I could handle that for a long time

Re: IRA’s [Re: joshm28] #3315188
01/06/21 06:30 PM
01/06/21 06:30 PM
Joined: Aug 2019
Posts: 639
Smuteye
O
Orion34 Offline
4 point
Orion34  Offline
4 point
O
Joined: Aug 2019
Posts: 639
Smuteye
Stock market futures are flat.


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