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Thread: When to Draw Social Security Retirement

  1. #21
    Troll Magnet Sparko's Avatar
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    Quote Originally Posted by myth View Post
    So...no one can really predict the market, but keep in mind we're about 10 years in on a bull market. And historically bull markets last like 8 years (I think?). Either way, we're currently in the longest bull market in history. So I've been watching for signs of a recession soon. Dunno when it's gonna hit though.
    I am thinking if a Democrat gets in, what with their "promises" of Medicare for all, and cancelling student debt, the stock market will crash.

  2. #22
    Troll Magnet Sparko's Avatar
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    Oh I forgot... My employer also put in profit sharing into my 401K each year, which is really nice.

  3. #23
    See, the Thing is... Cow Poke's Avatar
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    Quote Originally Posted by Sparko View Post
    Oh I forgot... My employer also put in profit sharing into my 401K each year, which is really nice.
    That's YUGE --- and smart.
    Every problem is the result of a previous solution.

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    Troll Magnet Sparko's Avatar
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    Quote Originally Posted by Cow Poke View Post
    That's YUGE --- and smart.
    yep. Even though I am putting in 15% and the company matches only 4%, the company's contribution to my 401K is actually higher than my contribution because of the profit sharing. We had a good year thanks to Trump.

  5. Amen Teallaura amen'd this post.
  6. #25
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    Quote Originally Posted by Sparko View Post
    yep. Even though I am putting in 15% and the company matches only 4%, the company's contribution to my 401K is actually higher than my contribution because of the profit sharing. We had a good year thanks to Trump.
    One of my very first jobs - the one I talk about where people were trying to unionize - the owner had a very generous profit sharing plan. My first ever experience with such. He was a wise old coot, and he'd say "when you waste materials in production, you're wasting your OWN materials" and "When you work really hard to get product out the door, you're increasing your OWN benefits...."

    When the union thugs were trying to force unionization, that was one of the points he'd make..... "Right now, I'm voluntarily sharing my wealth with you -- if you unionize, your union bosses will have to fight me tooth and nail for it".
    Every problem is the result of a previous solution.

  7. Amen Teallaura amen'd this post.
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    Troll Magnet Sparko's Avatar
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    Quote Originally Posted by myth View Post
    So...no one can really predict the market, but keep in mind we're about 10 years in on a bull market. And historically bull markets last like 8 years (I think?). Either way, we're currently in the longest bull market in history. So I've been watching for signs of a recession soon. Dunno when it's gonna hit though.
    Recession indicator blares loudest warning since 2007: How will the Fed respond?

    For the first time since 2007, the spread between the two-month and 10-year Treasury yields — a closely watched indicator that typically precedes recessions by around 18 months when it inverts — turned negative

    The inversion, spurred by worsening U.S.-China trade relations and signs of sluggish global growth, sent stocks plummeting on recession fears, but also raised questions about what, if anything, the Federal Reserve Opens a New Window. will do to stave off a potential recession within the next year.

    “They can lower rates, and that’s kind of the easy thing,” said Gary Pzegeo, head of fixed income at CIBC Private Wealth Management. “The Fed doesn’t have many tools in the toolbox. That’s the biggest one.”
    https://www.foxbusiness.com/economy/...ederal-reserve
    Last edited by Sparko; 08-14-2019 at 11:09 AM.

  9. Amen Teallaura amen'd this post.
  10. #27
    See, the Thing is... Cow Poke's Avatar
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    Quote Originally Posted by Sparko View Post
    Recession indicator blares loudest warning since 2007: How will the Fed respond?

    For the first time since 2007, the spread between the two-month and 10-year Treasury yields — a closely watched indicator that typically precedes recessions Opens a New Window. by around 18 months when it inverts — turned negative Opens a New Window. .

    The inversion, spurred by worsening U.S.-China trade relations and signs of sluggish global growth, sent stocks plummeting on recession fears, but also raised questions about what, if anything, the Federal Reserve Opens a New Window. will do to stave off a potential recession within the next year.

    “They can lower rates, and that’s kind of the easy thing,” said Gary Pzegeo, head of fixed income at CIBC Private Wealth Management. “The Fed doesn’t have many tools in the toolbox. That’s the biggest one.”
    https://www.foxbusiness.com/economy/...ederal-reserve
    Since this was triggered by a specific action that can, indeed, be mitigated or reversed, I'm not terribly worried, but still glad my entire retirement portfolio is 'locked' with a minimum floor - I can't lose anything.
    Every problem is the result of a previous solution.

  11. #28
    Troll Magnet Sparko's Avatar
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    Quote Originally Posted by Cow Poke View Post
    Since this was triggered by a specific action that can, indeed, be mitigated or reversed, I'm not terribly worried, but still glad my entire retirement portfolio is 'locked' with a minimum floor - I can't lose anything.
    I suck at timing such things. I just moved a lot of my stocks into an index fund in my 401k. Then this happens. - but maybe I got a "discount." Yeah that's the ticket.

    I think I will wait a while before doing anything else. Which means the stock market will probably crash on me.

    *eta - I actually mad $6 on the trade today! (not counting the cost of the trade though, which was $6.50)
    Last edited by Sparko; 08-14-2019 at 11:26 AM.

  12. #29
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    Quote Originally Posted by Sparko View Post
    I suck at timing such things. I just moved a lot of my stocks into an index fund in my 401k. Then this happens. - but maybe I got a "discount." Yeah that's the ticket.

    I think I will wait a while before doing anything else. Which means the stock market will probably crash on me.
    When I left the gas compression company, I had just been given LTIP (long term incentive plan) to keep me, vested over 3 years. The week after giving me this stock, they decided they could do my job from San Antonio, so they asked me to stay on for 4 months to train my replacement, and let me go. The GOOD NEWS is that all the LTIP (company stock) vests IMMEDIATELY if I leave not on my own!

    On my final day, having signed all the paperwork and all that LTIP officially in my name, I kept getting a really strong 'prompting' to dump the company stock. I thought, "yeah, I'll do that tomorrow, I just wanna get home". But I kept sensing this urgency to do it "today".

    I knew of an Edward Jones location near work, so I stopped in there, and we converted ALL of my stock into my 401(k), and the very next day, the company stock plunged from $37 to $19.

    I praise God to this very day for what could only have been the Lord protecting me from financial disaster.
    Every problem is the result of a previous solution.

  13. Amen Teallaura amen'd this post.
  14. #30
    Troll Magnet Sparko's Avatar
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    Quote Originally Posted by Cow Poke View Post
    When I left the gas compression company, I had just been given LTIP (long term incentive plan) to keep me, vested over 3 years. The week after giving me this stock, they decided they could do my job from San Antonio, so they asked me to stay on for 4 months to train my replacement, and let me go. The GOOD NEWS is that all the LTIP (company stock) vests IMMEDIATELY if I leave not on my own!

    On my final day, having signed all the paperwork and all that LTIP officially in my name, I kept getting a really strong 'prompting' to dump the company stock. I thought, "yeah, I'll do that tomorrow, I just wanna get home". But I kept sensing this urgency to do it "today".

    I knew of an Edward Jones location near work, so I stopped in there, and we converted ALL of my stock into my 401(k), and the very next day, the company stock plunged from $37 to $19.

    I praise God to this very day for what could only have been the Lord protecting me from financial disaster.
    Normally my plan is to just leave everything alone, because I am in it for the long haul and any ups and downs usually smooth out and end up as "up" over time. But I am kinda worried about the election and Trump screwing around with all those tariffs.

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