View this post on Hive: Go Ahead and Nag
Go Ahead and Nag
6 years ago by indigoocean (67)
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One personal challenge I have with this is going against the advice I've always been given that because of my age I shouldn't worry about the ups and downs of the market in my 403b account. Can you elaborate on your position in regards to this? Many of us who have a 2 decades ahead of us before retirement age are basically being advised to do nothing because we can weather the storm.
Also, are you still a part of the wacoinda group through facebook? This is really good information and would be greatly appreciated given the economic focus of the group. And the group's currency (CJS) has started trading on the StellarX (stellarx.com) peer to peer trading exchange.
https://www.facebook.com/groups/wacoinda/
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I have't paid a lot of attention to Wacoinda but shared this to Deidra's blacks in crypto group. As for age, well it's true that you probably have time for your retirement account to recover from the losses it is about to sustain, but please tell me what the point is in experiencing those losses in the first place?
Why not put your money into stocks when the market is low to medium growth, then move it to money markets at the top, then when the market crashes, buy back into the stocks at their new lows?
While during a normal market you can't really time it like this, it really isn't hard to time a market that's nothing but bubbles. Only finding the bottom to buy back in might be challenging. There will likely be many false bottoms, while it keeps going lower.
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Sound advice, Thanks!
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Can’t agree more! I have already move all of my 401k to money market funds as I have been impressed by the increase in yield I have been seeing. While the others have short term risks, money markets may be best for the upcoming market until more is developed on the others like crypto for sure. We cannot expect those learning about the opportunity to move over so quickly as they need to do their own research first as well.
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I had been thinking bonds, but then I saw how over-valued that market is too, so the super conservative money market is probably best for now. People are really resistant to it, because it seems too conservative, but in times like these.
Yeah, I think that's why nagging is necessary. Really you're nagging to try to get them to make the time to do the boring work of researching this stuff for themselves, so that they can make their own decision. They shouldn't just do what you say, but they don't really want to do the research to be able to listen to their own informed guidance. So I call, and I write, and I remind, again and again, trying to get them to make the time and effort to take on something they'd rather not have to think about. And that they may feel incompetent to decide or even learn.
The more we teach them, the more confident they feel that they can learn this so that the research will be useful for them.
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Bonds have the potential to be destroyed by inflation unless considering TIPS in the US so I have stayed away... Its truly a tough market to perserve capital because of valuations and the risk to the value of even the US Dollar! All we can do is comment and talk about it for others to get additional perspectives to consider!
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@indigoocean, I'm interested in the same topic as you, let's spin it together. I signed on to you, I hope you'll sign up for me. Always glad to meet new people!
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Great article, @indigoocean!
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