Anyone made changes to their retirement accounts?

[DCLMP]

It will be interesting to see if the ECB and Feds' "unconventional emergency methods" to stabilize the debt market last week will drive the markets back up. How much longer can they kick the can down the road.

 

[DLgal]

Bitcoin and all of the 'me too' followers has always been a smoke & mirrors situation. It isn't a company, makes/sells no product/service, generates ZERO revenue or profits. All of the things you typically consider when deciding where to invest. Its 'value' is totally based on finding the next person willing to pay more for it then you did. Not very much different from a pyramid scheme in my book. When there are no more people willing to dump money into it, the whole scheme just collapses. Get rich quick schemes usually end badly, particularly for those who threw money into it within understanding what they were actually buying.

Yeah, it really does smack of pyramid scheme. What other investment in something of actual value do you have people absolutely fanatically evangelizing that it's something that YOU also have to become a part of?

If one finds a gold mine, he is not exactly going to shout from the rooftops that everyone should come join him in HIS goldmine so they can ALL get rich. Wouldn't the founder want to keep quiet so he can be the one who gets the richest?

 

[ThistleMae]

I don’t know any of those people. You can’t live without food it’s not a choice.

I know these people....cigarettes', beer, marijuana, new TV's, gaming systems etc. Sorry, but they are out there.

 

[ThistleMae]

You mean the same people driving brand new luxury SUVs waiting in line at the food bank pick up?

I've seen them, drive a better, newer car than mine.

 

[ThistleMae]

I had a small work-sponsored 401k investment account. About a year ago, shortly after I retired, I transferred it over to an annuity. No gains, no losses. Just peace of mind.

I hear you....peace of mind is the most important to me. I have my investments in a stable fund. The interest rate is very low but I never lose money. I'm not looking to get rich, I just want to pay bills, eat and go on vacation once or twice a year. I'm also waiting to collect my SS until 70.

 

[DCLMP]

I've seen them, drive a better, newer car than mine.

I’m sure it exists, but it’s not the norm. There’s always going to be a small minority of scammers in the world.

 

[ThistleMae]

I’m sure it exists, but it’s not the norm. There’s always going to be a small minority of scammers in the world.

I agree I don't think it's the norm, but there are also many people I know who work under the table and don't report all their income, then they apply for things like winterization programs and get many upgrades to their homes. We don't have numbers, but there are many ways to scam. It's just another way to survive I suppose. With all the inflationary costs perhaps there are more people out there figuring out ways to stay afloat and we won't get stats to tell us what percentage of the population will go in this direction.

 

[DCLMP]

I hear you....peace of mind is the most important to me. I have my investments in a stable fund. The interest rate is very low but I never lose money. I'm not looking to get rich, I just want to pay bills, eat and go on vacation once or twice a year. I'm also waiting to collect my SS until 70.

Unless your trading in and out of it that is probably the smart thing to do right now. We’re likely to see a lot of volatility over the next year or so.

 

[mom2grace]

We are moving more $ to the market! DH retires next year as well.

 

[ThistleMae]

Unless your trading in and out of it that is probably the smart thing to do right now. We’re likely to see a lot of volatility over the next year or so.

Yeah, I don't move any of it. It will last me until I die, unless I live to over 100!