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dallasga6
Georgia Fan
Scrap Metal Magnate...
Member since Mar 2009
24037 posts

Stock Market back up over 26,000 currently...
Any fund mgrs on here?

With all the turmoil and BS going on, is it maybe a good time for a 66yr old to park my 401k and my mutual funds monies into moderately conservative funds vs the moderate/moderately aggressive funds imma sitting in currently until after the election?

Getting kinda itchy and concerned about my money currently.

TIA...

Image: https://i.imgur.com/B3O2SU1.png


FinleyStreet
Georgia Fan
Nashville
Member since Aug 2011
6229 posts

re: Stock Market back up over 26,000 currently...
You should post on the money board.

When I'm old I plan to have 50% in equities (VTSAX,VTIAX) and 50% in bonds.

Having everything sitting in equities at 66 seems too aggressive to me but it's hard to know without having more details. I'm also relatively risk averse and not a fund manager.

Happy trails.


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DawgCountry
Kennesaw St. Fan
Great State of GA
Member since Sep 2012
26038 posts

re: Stock Market back up over 26,000 currently...
I would definitely look at reducing your risk some. Also depends in if you are already retired/when you want to retire, other sources of income you might have (SS, pensions, etc)


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meansonny
Georgia Fan
ATL
Member since Sep 2012
11136 posts

re: Stock Market back up over 26,000 currently...
My brother is a fund manager

Says that the market this week doesn't make sense.

He expects a shoe to drop with the economy from unemployment/business closures.

He's wrong a lot as are all fund managers who aren't shy about opinions.


3morereps
Georgia Fan
The Gym
Member since Jun 2015
6481 posts
 Online 

re: Stock Market back up over 26,000 currently...
How much do you have?

If you have $5-6mm you can weather another down turn should it occur. If not, you may want to take some off the table. It all depends on you, how much risk you are comfortable with and when you need the monies. Market is rocking though!
This post was edited on 6/3 at 1:23 pm


deeprig9
Member since Sep 2012
40028 posts

re: Stock Market back up over 26,000 currently...
I took about 10% of my stocks off the table today. The ones that had recovered and were doing very well, I took some profit and parked it in cash for now.

At your age, I would take alot more than 10% out of stocks with this upswing.



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dallasga6
Georgia Fan
Scrap Metal Magnate...
Member since Mar 2009
24037 posts

re: Stock Market back up over 26,000 currently...
quote:

If you have $5-6mm you can weather another down turn should it occur


So imma good then...

J/K...
This post was edited on 6/3 at 3:42 pm


deeprig9
Member since Sep 2012
40028 posts

re: Stock Market back up over 26,000 currently...
Just remember, if they tell you to sell, and you sell, and you were right, the feds are coming after you for insider trading.


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deeprig9
Member since Sep 2012
40028 posts

re: Stock Market back up over 26,000 currently...
quote:

Stock Market back up over 26,000 currently...


He can't keep getting away with this.

[had to be said]


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60
Rex Feral
Georgia Fan
Member since Jan 2014
3207 posts

re: Stock Market back up over 26,000 currently...
Unemployment is a poor metric right now. A lot of them are living off of federal and state payments of nearly $900 a week. They aren’t going back to work until the gravy train runs out.


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Rex Feral
Georgia Fan
Member since Jan 2014
3207 posts

re: Stock Market back up over 26,000 currently...
One major reason is because of what the FED did by backstopping the system. The government is throwing trillions at this. With rates near 0% people are willing to take more risk. Seems that could lead to an issue at some point down the road. What you have really seen is that we had a market that all your “stay at home” plays did well during the shutdown and continued to grow. Recovery plays and small cap have really started to catch fire. This has led to the most recent surge. Markets also seem to be pricing in the fact that we may have a vaccine/treatment sooner or that we won’t see a major spike back in cases. That is all obviously yet to be determined.


Dawgsontop34
Georgia Fan
Member since Jun 2014
30677 posts

re: Stock Market back up over 26,000 currently...
quote:

With rates near 0% people are willing to take more risk.


Yep. Basically no one is putting their $ in CDs or money mkts because it makes next to no sense.


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20
meansonny
Georgia Fan
ATL
Member since Sep 2012
11136 posts

re: Stock Market back up over 26,000 currently...
quote:

Unemployment is a poor metric right now. A lot of them are living off of federal and state payments of nearly $900 a week. They aren’t going back to work until the gravy train runs out.


I don't have an opinion on the matter
My brothers take is that the jobs will not be present for the unemployed when they want work. That compounds 2 problems. Output for companies will be less on smaller staffs. And consumer spending will he down due to unemployment. And that prevents the V shaped recovery that wall street is banking on.

I don't worry myself with things that are outside my control. I've been putting more into retirement and investments... buying on sale, and living frugally with no where to go. I'm just a grunt making widgets.


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HinesvilleThrill
Georgia Fan
Skidaway Island
Member since Sep 2012
3309 posts

re: Stock Market back up over 26,000 currently...
Dallas, I’m an advisor at ML and I manage money for a couple guys on here. I’d be happy to help. What’s a good way to get in touch with you?


Rules
Georgia Tech Fan
Warm. Year round.
Member since Sep 2012
3832 posts

re: Stock Market back up over 26,000 currently...
Meet him at the next Daughters Of The Confederacy meeting in Vila Rica.
This post was edited on 6/7 at 6:39 am


dallasga6
Georgia Fan
Scrap Metal Magnate...
Member since Mar 2009
24037 posts

re: Stock Market back up over 26,000 currently...
Thanks for the reply Thrill, my advisor with Nationwide got with me Friday to assist me.


dallasga6
Georgia Fan
Scrap Metal Magnate...
Member since Mar 2009
24037 posts

re: Stock Market back up over 26,000 currently...
quote:

Meet him at the next Daughters Of The Confederacy meeting in Vila Rica.


Wassup puss?...
This post was edited on 6/7 at 3:50 pm


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20
Spunky
Miami (FL) Fan
Member since Mar 2013
9771 posts

re: Stock Market back up over 26,000 currently...
quote:

Thanks for the reply Thrill, my advisor with Nationwide got with me Friday to assist me. ?


Hines got shot down like dove with a dropped leg.


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HinesvilleThrill
Georgia Fan
Skidaway Island
Member since Sep 2012
3309 posts

re: Stock Market back up over 26,000 currently...
quote:

Thanks for the reply Thrill, my advisor with Nationwide got with me Friday to assist me.


Understood. If you ever need a second set of trained eyes to give it a look, I’ll be happy to help.


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Prettyboy Floyd
Clemson Fan
Pensacola, Florida
Member since Dec 2013
13278 posts

re: Stock Market back up over 26,000 currently...
quote:

Stock Market back up over 26,000 currently...


I got my 401k running at 12pct currently. Just sit back and watch it ride. Them dips is the best time to load up.


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