Addiction 2022.3
07-14-22, 01:16 PM
#901
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I thought this phase of my career was past. I just got the RideWithGPS app, again, to keep track of my average and max speed, now that I'm back on the old route. I have a time trial built into it so I don't have to count the ride across Tixkokob and one other village in both directions. 20 km with no topes. I'm 15 pounds lighter than I was last time. And I have two healthy knees. Vamos a ver.
Another great ride in the books. It was not overly hot. Quite pleasant.
Another great ride in the books. It was not overly hot. Quite pleasant.
07-14-22, 01:18 PM
#902
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Fiber remains in mush.
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07-14-22, 01:21 PM
#903
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07-14-22, 01:27 PM
#904
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Ok, this might get a little P&R, but it's really economic in nature...
I would think that MOST savers know they should have roughly 100 minus their age as a percentage of savings in the stock market. The rest should be in safer places like bonds etc.
So why are all my 70-something patients telling me they are all stressed out because they are losing their shirt in the market?? If you are 75, you should really only have 25% of your assets in the market anyway.
Am I missing something here??
I would think that MOST savers know they should have roughly 100 minus their age as a percentage of savings in the stock market. The rest should be in safer places like bonds etc.
So why are all my 70-something patients telling me they are all stressed out because they are losing their shirt in the market?? If you are 75, you should really only have 25% of your assets in the market anyway.
Am I missing something here??
On the other hand, I agree with you with respect to retirees. The ones that do not take steps to protect the principal likely either handle their investments themselves or have a family member do so, and those people are probably not very sophisticated financially.
I get a weekly report of our investments, and hate seeing the drops. But, that just means its time to put more in!
07-14-22, 01:30 PM
#905
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I think rules like that only apply to people who will have to rely on their total savings to live as they would like after they no longer work. For example, I have about 70% in the market whereas under your rule that should only be 35%. But, we have some buffered mutual fund investments that protect against the downside while capping the potential upside, which allows us the higher potential return of the market. And I still have a much higher than average income and expect to do so for the next 3 to 5 years. We also have some passive income that will not end at retirement. We are simply in a position where we can continue to take market risk.
On the other hand, I agree with you with respect to retirees. The ones that do not take steps to protect the principal likely either handle their investments themselves or have a family member do so, and those people are probably not very sophisticated financially.
On the other hand, I agree with you with respect to retirees. The ones that do not take steps to protect the principal likely either handle their investments themselves or have a family member do so, and those people are probably not very sophisticated financially.
I have no problem with a bear market. It happens. It's a great time to sit tight and keep buying.
07-14-22, 01:32 PM
#906
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Ok, this might get a little P&R, but it's really economic in nature...
I would think that MOST savers know they should have roughly 100 minus their age as a percentage of savings in the stock market. The rest should be in safer places like bonds etc.
So why are all my 70-something patients telling me they are all stressed out because they are losing their shirt in the market?? If you are 75, you should really only have 25% of your assets in the market anyway.
Am I missing something here??
I would think that MOST savers know they should have roughly 100 minus their age as a percentage of savings in the stock market. The rest should be in safer places like bonds etc.
So why are all my 70-something patients telling me they are all stressed out because they are losing their shirt in the market?? If you are 75, you should really only have 25% of your assets in the market anyway.
Am I missing something here??
07-14-22, 01:36 PM
#907
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Might be nap time
07-14-22, 01:38 PM
#908
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But realize that the market is not a scam or a losing proposition like a casino, where on average, you will end up losing your money. The market is not a fixed sum game, it does give the potential for good returns, on average.
07-14-22, 01:47 PM
#909
Klaatu..Verata..Necktie?
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I keep zero percent in the market. A gambler I am not. Unlike your patients, I like to sleep at night.
__________________
"Don't take life so serious-it ain't nohow permanent."
"Everybody's gotta be somewhere." - Eccles
"Don't take life so serious-it ain't nohow permanent."
"Everybody's gotta be somewhere." - Eccles
07-14-22, 01:53 PM
#910
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I think rules like that only apply to people who will have to rely on their total savings to live as they would like after they no longer work. For example, I have about 70% in the market whereas under your rule that should only be 35%. But, we have a portion of our equity holdings in buffered mutual fund investments that protect against the downside while capping the potential upside, which allows us the higher potential return of the market. And I still have a much higher than average income and expect to do so for the next 3 to 5 years. We also have some passive income that will not end at retirement. We are simply in a position where we can continue to take market risk.
On the other hand, I agree with you with respect to retirees. The ones that do not take steps to protect the principal likely either handle their investments themselves or have a family member do so, and those people are probably not very sophisticated financially.
I get a weekly report of our investments, and hate seeing the drops. But, that just means its time to put more in!
On the other hand, I agree with you with respect to retirees. The ones that do not take steps to protect the principal likely either handle their investments themselves or have a family member do so, and those people are probably not very sophisticated financially.
I get a weekly report of our investments, and hate seeing the drops. But, that just means its time to put more in!
In times like these, I don't peek at the numbers and just do what I'm told. 2008 was much scarier, financially at least.
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07-14-22, 01:54 PM
#911
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That's your choice and it's reasonable, especially for someone who is older and/or risk adverse.
But realize that the market is not a scam or a losing proposition like a casino, where on average, you will end up losing your money. The market is not a fixed sum game, it does give the potential for good returns, on average.
But realize that the market is not a scam or a losing proposition like a casino, where on average, you will end up losing your money. The market is not a fixed sum game, it does give the potential for good returns, on average.
While I wouldn't go so far as to call it a scam, it is essentially gambling. It will go up when people expect it to go up and down when people expect it to go down, largely because of those expectations.
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"Don't take life so serious-it ain't nohow permanent."
"Everybody's gotta be somewhere." - Eccles
"Don't take life so serious-it ain't nohow permanent."
"Everybody's gotta be somewhere." - Eccles
07-14-22, 01:57 PM
#912
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Prolly.
07-14-22, 01:58 PM
#913
cowboy, steel horse, etc
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Ok, this might get a little P&R, but it's really economic in nature...
I would think that MOST savers know they should have roughly 100 minus their age as a percentage of savings in the stock market. The rest should be in safer places like bonds etc.
So why are all my 70-something patients telling me they are all stressed out because they are losing their shirt in the market?? If you are 75, you should really only have 25% of your assets in the market anyway.
Am I missing something here??
I would think that MOST savers know they should have roughly 100 minus their age as a percentage of savings in the stock market. The rest should be in safer places like bonds etc.
So why are all my 70-something patients telling me they are all stressed out because they are losing their shirt in the market?? If you are 75, you should really only have 25% of your assets in the market anyway.
Am I missing something here??
07-14-22, 02:00 PM
#914
shaken, not stirred.
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fair trade. after all a chihuahua is basically a rat anyway.
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07-14-22, 02:00 PM
#915
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I tried to explain to her she should BUY low and SELL high, but she was not ok with that. She would have done fine if she sat tight, but she sold it all.
07-14-22, 02:03 PM
#916
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Exactly. We are older than you and are still at ~70% equities if you don't count the house. I also collect a military-type pension which would fund a double-wide lifestyle in a scenic Red state.
In times like these, I don't peek at the numbers and just do what I'm told. 2008 was much scarier, financially at least.
In times like these, I don't peek at the numbers and just do what I'm told. 2008 was much scarier, financially at least.
2008 was much scarier. That's the year we bought our current house for well below the amount the builder spent building it. Good times!
I get no pension.
07-14-22, 02:03 PM
#917
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I think so. I hope so. This reminds me, I have an aunt who lost 50% of her savings in 2008. She could not accept any further risk, so she told me she was selling and getting out of the market.
I tried to explain to her she should BUY low and SELL high, but she was not ok with that. She would have done fine if she sat tight, but she sold it all.
I tried to explain to her she should BUY low and SELL high, but she was not ok with that. She would have done fine if she sat tight, but she sold it all.
07-14-22, 02:04 PM
#918
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Agreed, but I think you and I are essentially the same age. I hit 65 in about 2 months. You might be a year older. My wife's age might make us much younger in the aggregate.
2008 was much scarier. That's the year we bought our current house for well below the amount the builder spent building it. Good times!
I get no pension.
2008 was much scarier. That's the year we bought our current house for well below the amount the builder spent building it. Good times!
I get no pension.
07-14-22, 02:06 PM
#919
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well....it depends on how you define gambling. There is some risk involved, so maybe. But it's clearly NOT in the same league as gambling in a casino or gambling on the horse races etc., because those are zero sum games where one person's winnings comes from another person's losses.
Prolly.
Prolly.
07-14-22, 02:06 PM
#920
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07-14-22, 02:10 PM
#921
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It is gambling if you look at a stock and pick it based on whether you think it will go up or down based on popularity and things of that nature without researching the business and fully understanding what it does. But, it is not really gambling if you invest after studying the financials of the company, its history, and its trends. Its really no different than when I left one law firm to start my own. I knew the financial history of my book of business, what clients would stay with me based on my relationship with them, analyzed the costs, and created a business plan. Sure, there was some risk since I would not have a salaried pay check, but it was not a gamble.
07-14-22, 02:13 PM
#922
Klaatu..Verata..Necktie?
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well....it depends on how you define gambling. There is some risk involved, so maybe. But it's clearly NOT in the same league as gambling in a casino or gambling on the horse races etc., because those are zero sum games where one person's winnings comes from another person's losses.
Prolly.
Prolly.
the betting or staking of something of value, with consciousness of risk and hope of gain, on the outcome of a game, a contest, or an uncertain event whose result may be determined by chance or accident or have an unexpected result by reason of the bettor’s miscalculation.
So, really, buying stock fits the definition. It is entirely possible to lose all the money you
That said, over the long term, it has yielded a pretty good return, and it is generally safer than betting on dogs or horses or which slot in a wheel a marble falls in.
__________________
"Don't take life so serious-it ain't nohow permanent."
"Everybody's gotta be somewhere." - Eccles
"Don't take life so serious-it ain't nohow permanent."
"Everybody's gotta be somewhere." - Eccles
07-14-22, 02:14 PM
#923
serious cyclist
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Ok, this might get a little P&R, but it's really economic in nature...
I would think that MOST savers know they should have roughly 100 minus their age as a percentage of savings in the stock market. The rest should be in safer places like bonds etc.
So why are all my 70-something patients telling me they are all stressed out because they are losing their shirt in the market?? If you are 75, you should really only have 25% of your assets in the market anyway.
Am I missing something here??
I would think that MOST savers know they should have roughly 100 minus their age as a percentage of savings in the stock market. The rest should be in safer places like bonds etc.
So why are all my 70-something patients telling me they are all stressed out because they are losing their shirt in the market?? If you are 75, you should really only have 25% of your assets in the market anyway.
Am I missing something here??
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07-14-22, 02:15 PM
#924
Klaatu..Verata..Necktie?
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It is gambling if you look at a stock and pick it based on whether you think it will go up or down based on popularity and things of that nature without researching the business and fully understanding what it does. But, it is not really gambling if you invest after studying the financials of the company, its history, and its trends. Its really no different than when I left one law firm to start my own. I knew the financial history of my book of business, what clients would stay with me based on my relationship with them, analyzed the costs, and created a business plan. Sure, there was some risk since I would not have a salaried pay check, but it was not a gamble.
__________________
"Don't take life so serious-it ain't nohow permanent."
"Everybody's gotta be somewhere." - Eccles
"Don't take life so serious-it ain't nohow permanent."
"Everybody's gotta be somewhere." - Eccles
07-14-22, 02:17 PM
#925
serious cyclist
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My end-of-June paycheck was the one that maxed out my 401k. The gravy starts flowing tomorrow.