Aquacide

stock market - i'm not feeling it.

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5 hours ago, drc said:

Phew, That's a thorough analysis.

 

To summarize. The market is going to drop 50-70% and be flat for the next 12 years.:poopfan:

The end is near!!

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Posted (edited)

My simple IRA at work goes into a 2030 target fund. Its down 20% ytd. Buying low baby. It gets 5 stars on morning star. I'd hate to see 1 or 2 start funds. :fire:

Edited by drc
Sp

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Posted (edited)

Encourage your Kids to go into a career with a guaranteed pension.

rest of us are just gamblers 

think about it Suffolk County Police

150K easy then add O/T

Free Bennies for Life

100K retirement

 

so lets say work 25 years = 3.75mil earned

retire at 55 and if you live to 75 that's another 2mil (in pension)

rough estimates

Edited by Sandflee

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Posted (edited)

8 mins ago, Sandflee said:

Encourage your Kids to go into a career with a guaranteed pension.

rest of us are just gamblers 

think about it Suffolk County Police

150K easy as much at 300K

Free Bennies for Life

100K retirement

 

so lets say work 25 years = 3.75mil earned

retire at 55 and if you live to 75 that's another 2mil (in pension)

rough estimates

Good thought but a lot of companies don’t have pensions anymore. 

Edited by jimmy1956
Added.

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1 min ago, jimmy1956 said:

Good thought but a lot of companies have pensions anymore. 

that's why I said Civil service

Police

Fire

LIRR

MTA etc...

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I've got one daughter who's a teacher. Not tremendous pay but yes, you can retire young ish, with a pension.

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Just now, drc said:

I've got one daughter who's a teacher. Not tremendous pay but yes, you can retire young ish, with a pension.

Endless supply of vacation time.

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22 mins ago, drc said:

My simple IRA at work goes into a 2030 target fund. Its down 20% ytd. Buying low baby. It gets 5 stars on morning star. I'd hate to see 1 or 2 start funds. :fire:

All scams.. 

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2 mins ago, hobobob said:

Endless supply of vacation time.

If you've got a master's and considering the amount of time off, 4 or 5 years in you're doing pretty well.

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The markets sure look ugly these days.

The S&P 500 is down 23% year to date. For the tech-laden Nasdaq Composite, the loss in 2022 has widened to an even more painful 31%.

"Rich Dad Poor Dad" author Robert Kiyosaki, who previously sounded the alarm, stresses just how badly this downturn could turn out to be.

“This is going to be the biggest crash in world history, we’ve never had this much debt pumped up,” he says in a Kitco News interview earlier this month.

Given that Kiyosaki has previously tweeted that “Crashes are the best times to get rich,” one might think it’s time to look for bargains in the beaten-down stock market.

But that’s not what Kiyosaki is doing right now.

 

“Anything that can be printed, like a stock certificate, a bond, or a dollar, I don't want it,” he says.

Here’s a look at what Kiyosaki prefers instead.

Precious metals

Precious metals — particularly gold and silver — have been a popular hedge against inflation and uncertainties. They can’t be printed out of thin air like fiat money and their value is largely unaffected by economic events around the world.

When the host asked Kiyosaki if he was adding anything to his portfolio, his response was simple: “I’m buying more gold and silver.”

To be sure, precious metals aren’t immune to the sell-off that’s been going on this year. The price of gold is actually down about 9% in 2022, while silver has fallen by nearly 20%.

Kiyosaki sees a glorious revival on the horizon.

“Silver to stay at $20 for 3-5 years, then climb to $100 to $500,” he says in a recent Tweet, adding that “everyone can afford silver” and “accumulate silver now.”

For gold, he points to fellow investing guru Jim Rickards, who once predicted yellow metal to soar to $15,000 an ounce.

“I like his numbers. I think $15,000 is not out of the question for gold,” Kiyosaki says.

While there are many ways to gain exposure to gold and silver, he prefers to just buy the metal directly. Earlier this year, he tweeted that he only wants “real gold or silver coins” and not the ETFs.

“I buy gold and silver for one reason, because if push comes to shove, I can spend it anywhere in the world,” he tells Kitco.

Bitcoin

Some say that bitcoin is the new gold. While Kiyosaki is a self-proclaimed gold bug, he also likes the world’s largest cryptocurrency.

Of course, bitcoin is extremely volatile, so Kiyosaki shares the story of how he got on board during one of the pullbacks.

“When Bitcoin the first time hit $20,000, I watched it, and it traced back down,” he says.

“So it came back and hit $6,000 so I knew it was picking up momentum as a trader would say … And when it hit $6,000, I bought 60. So I'm in the money.”

 

As we know now, bitcoin then went on a rollercoaster ride, hitting a high of $68,990 last November.

Today, bitcoin trades at around $19,000 apiece — a staggering 72 pullback from its peak but still well above Kiyosaki’s entry price.

Looking ahead, he’s “optimistic and bullish” on blockchain and is ready to buy the dip again if the downtrend continues.

“If it goes down to $1,000, I’m backing up the truck.”

Food

Food prices have been going up amid supply shortages around the world. And that’s an area investors might want to pay attention to.

“Inflation about to take off. Best investments are cans of tuna & baked beans,” Kiyosaki tweeted in June, explaining that you “can’t eat gold, silver, or Bitcoin” but you can eat tuna and beans.

And right now, he tells Kitco he’s investing in livestock as well.

“I invest in Wagyu cattle,” he says. “People talk about farmland and all that stuff, but I think cattle are great.”

Indeed, investing in farmland has been popular these days. After all, Bill Gates turns out to be the largest private owner of farmland in the U.S. And even retail investors are now getting in on the action.

It might be a little bit more difficult for retail investors to get into cattle, but the payoff can be worth it.

“You can always eat the thing,” Kiyosaki says.

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The people who can benefit the most right now are first time, novice investors.  Start young, automate purchases into an S&P 500 or total stock market index fund with extremely low fees. Do this in a taxable account, outside any 401K or company sponsored retirement fund which you should also add to yearly (i.e., as much as you can).  Ideally fund a traditional IRA (and a Roth IRA) to the max each year if possible - again starting now, and while you are young.  Don't stop dollar cost averaging into the market until you are ready to retire.  Don't buy individual stocks unless you have a solid sense of the underlying business and preferably if it pays dividends.

 

The rest of us who are older are playing with fire if we have not been doing the above all along, or else have tons of cash sitting on the sidelines, waiting to re-invest after everyone else gives up.  The point of capitulation in this market is probably a year or so away after the S&P drops another 15-20 percent.  S&P 2800 is possible in the next 1-2 years, I think.  New investors who are young will buy right through the mess and likely do just fine.

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