The Intersection of FIRE and Disney

[dclpluto]

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Ugh, we were so close.

yep it feels so nice having two commas. First got it in October but only had it probably around 30 days. Lost it a few times and got it back. Who knows the next time I will get it back.

 

[QueenIsabella]

yep it feels so nice having two commas. First got it in October but only had it probably around 30 days. Lost it a few times and got it back. Who knows the next time I will get it back.

Back in the day, maybe 20 years ago now, DH worked for a start-up, and got a bunch of stock options at various prices. Company went public, and then a while later, the day-traders found the stock. So, we were millionaires for about a week, back in 2002 or so. (he got some options at $5/share, it went as high as $154). We sold some, but should have sold more. When he left the company, most of his remaining shares were underwater. Easy come, easy go...

 

[cush1]

We figured out a little trick to not carrying a balance. I set a daily alarm on my phone and I pay off any charges from the previous day. So far it is working for us.

 

[Starport Seven-Five]

We figured out a little trick to not carrying a balance. I set a daily alarm on my phone and I pay off any charges from the previous day. So far it is working for us.

You could set it up for autopay? Would save the hassle of logging in.

 

[dclpluto]

Wow we were on the third page. Guess we don’t talk much when the stock market is down. This morning I had enough courage to look at my 401k. Haven’t looked at it in a month. Down -5.30 for the year. Not expecting the stock market to do good next week.

 

[bernina]

Wow we were on the third page. Guess we don’t talk much when the stock market is down. This morning I had enough courage to look at my 401k. Haven’t looked at it in a month. Down -5.30 for the year. Not expecting the stock market to do good next week.

I've been trying not to actively look but it's impossible for me to avoid hearing market reports (I love Marketplace and Kai Ryssdal) or having friends and family discuss how their investments are performing. And while I don't love this phase, I know it's all built into the system so I'm focusing on staying the course and celebrating small wins of buying relatively low.

When I find myself questioning why I should continue dumping money in when I "feel" like the markets will continue to trend down, I remind myself that I also had a feeling things would tank for much much longer than they did after March 2020. I'm very glad I didn't take any action based on that feeling.

On a slightly different topic, I cashed a 30+ year old series EE bond yesterday, first time I've done that. I have about 7 or 8 hitting maturity over the next few years (must have been gifts from grandparents). I actually cashed this a few years too late and am hoping it's really not worth it to file an amendment to our 2020 taxes for $78 in interest that I'll pay on 2022 taxes. Bond was purchased in 1990 for $25, cashed out at $103

 

[QueenIsabella]

Shoot, I'll have to look at my kids' EE bonds. We have a few floating around--not going to amount to much, but money is money. They got them as gifts, mostly at birth, so we're talking 1995, 1997.

I did warn the kids about the market being volatile, and possibly losing money. Nobody seemed concerned, which is a good thing. It was kind of funny, we take the RMDs from inherited IRAs on 2/3 every year. Our financial advisor asked if we really wanted to take it then, as the market was volatile. I just said, "The perfect is the enemy of the good, we can't predict the market any more than anyone else." It turned out to work out for us.

 

[Budzooka]

I still check it every day and not always easy to stomach, but haven’t changed my strategy at all. I don’t try to time the market….I’m in it for the long haul.

 

[RivShore]

Looking at long term trends helps sooth my angst in these volatile times, a hundred years of history shows that as long as it's long term money, you should be OK (1915-2021):

 

[dvcgirl67]

This is always a good idea when the world is topsy turvy. Right now I honestly feel like the U.S. is in pretty good shape with respect to the markets. We've had a correction, but there's been a lot of buyers rushing in after these big down days. Europe has way more exposure to Russia. The Chinese are learning the hard way that "zero covid" is impossible, so they're going to have to navigate that challenge. And so we may end up being a safe haven for investors during this turbulent time.

Looking at long term trends helps sooth my angst in these volatile times, a hundred years of history shows that as long as it's long term money, you should be OK (1915-2021):

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[DCLMP]

This is always a good idea when the world is topsy turvy. Right now I honestly feel like the U.S. is in pretty good shape with respect to the markets. We've had a correction, but there's been a lot of buyers rushing in after these big down days. Europe has way more exposure to Russia. The Chinese are learning the hard way that "zero covid" is impossible, so they're going to have to navigate that challenge. And so we may end up being a safe haven for investors during this turbulent time.

The US is so far from being in good shape it's laughable. I think you're going to be in for big shock come 2023.

 

[dvcgirl67]

The US is so far from being in good shape it's laughable. I think you're going to be in for big shock come 2023.

Well, I was replying to the previous poster who recommended taking the long view of the markets in turbulent times, which is always an excellent idea. And as far as the U.S. being in pretty good shape....that was in comparison to other economies around the world. Every other nation in the West is experiencing inflation not seen in forty years. We all did the same thing...flooded our economies with trillions of dollars of newly printed money. And we're all going to experience the consequences now. In the East...the second largest economy in the world just shut down their second largest city due to Covid. So more to the point....if you're going to invest your money right now....where else are you going to go?

Is it a possibility that we now go through a period of slower growth and higher interest rates....of course. What should we do with our money...put it under the mattress? I guess I just think that at my age, 54, I've seen a bunch of times now when it seemed like the world was going to absolutely fall apart...and then didn't. I mean, I can even go back to my childhood when we had gas lines...even rationing because you could only buy it on certain days corresponding to the last number on your license plate. I remember times being pretty lean in my house when my Father, a UPS driver, went on strike for higher wages in that inflationary period in the 1970s and came home with a gash in his head due to fights breaking out when "scabs" attempted to cross the picket lines. I remember the savings and loan scandal, the first gulf war, the nasdaq tech bubble burst....9/11....and the recession that followed that cost my husband his job. I surely remember the housing bubble and how we were truly on the precipice of seeing it all fall apart. And then of course...the global pandemic. And if you're my age, and you started investing with your first job at 22 and kept on investing....rebalancing your portfolio as you go along....you'd be doing just fine. If you met a like-minded partner along the way, even better.

But have I felt and sounded like you before....yes. And it usually meant that I was watching too much news....following one argument/side in particular, and not taking the long view.

 

[DCLMP]

Well, I was replying to the previous poster who recommended taking the long view of the markets in turbulent times, which is always an excellent idea. And as far as the U.S. being in pretty good shape....that was in comparison to other economies around the world. Every other nation in the West is experiencing inflation not seen in forty years. We all did the same thing...flooded our economies with trillions of dollars of newly printed money. And we're all going to experience the consequences now. In the East...the second largest economy in the world just shut down their second largest city due to Covid. So more to the point....if you're going to invest your money right now....where else are you going to go?

Is it a possibility that we now go through a period of slower growth and higher interest rates....of course. What should we do with our money...put it under the mattress? I guess I just think that at my age, 54, I've seen a bunch of times now when it seemed like the world was going to absolutely fall apart...and then didn't. I mean, I can even go back to my childhood when we had gas lines...even rationing because you could only buy it on certain days corresponding to the last number on your license plate. I remember times being pretty lean in my house when my Father, a UPS driver, went on strike for higher wages in that inflationary period in the 1970s and came home with a gash in his head due to fights breaking out when "scabs" attempted to cross the picket lines. I remember the savings and loan scandal, the first gulf war, the nasdaq tech bubble burst....9/11....and the recession that followed that cost my husband his job. I surely remember the housing bubble and how we were truly on the precipice of seeing it all fall apart. And then of course...the global pandemic. And if you're my age, and you started investing with your first job at 22 and kept on investing....rebalancing your portfolio as you go along....you'd be doing just fine. If you met a like-minded partner along the way, even better.

But have I felt and sounded like you before....yes. And it usually meant that I was watching too much news....following one argument/side in particular, and not taking the long view.

Thanks, but I don't watch the news. Mainstream news is nothing, but lies and propaganda. I have a pretty good idea of what's going on and have invested accordingly. I'm prepared for the debt market to implode, but most people are not. If the US dollar loses its reserve currency status we are all screwed. There is no way to sugarcoat that scenario.

 

[2TxAgs]

I have a pretty good idea of what's going on and have invested accordingly. I'm prepared for the debt market to implode, but most people are not. If the US dollar loses its reserve currency status we are all screwed. There is no way to sugarcoat that scenario.

What wisdom can you share with the rest of us? How have you invested accordingly???

 

[punkin]

Thanks, but I don't watch the news. Mainstream news is nothing, but lies and propaganda. I have a pretty good idea of what's going on and have invested accordingly. I'm prepared for the debt market to implode, but most people are not. If the US dollar loses its reserve currency status we are all screwed. There is no way to sugarcoat that scenario.

While the dollar losing its reserve status is a possibility in the future, I do not see it happening any time soon. The Yuan is too heavily manipulated for it to take over. It's just not as safe as the dollar.

 

[DCLMP]

While the dollar losing its reserve status is a possibility in the future, I do not see it Hakeem any time soon. The Yuan is too heavily manipulated for it to take over. It's just not as safe as the dollar.

I think we're about eight to 10 years away. After the war of course.

 

[RivShore]

I think we're about eight to 10 years away. After the war of course.

Wowza, your a bundle of joy...

 

[DCLMP]

Wowza, your a bundle of joy...

I'm shocked at the nativity of some of the posts on here. Enough said. I'll revisit this thread in a year and see where we're at.

 

[dvcgirl67]

Thanks, but I don't watch the news. Mainstream news is nothing, but lies and propaganda. I have a pretty good idea of what's going on and have invested accordingly. I'm prepared for the debt market to implode, but most people are not. If the US dollar loses its reserve currency status we are all screwed. There is no way to sugarcoat that scenario.

Well, you're definitely taking in information from somewhere to have formed this apocalyptic view of the markets. The Fed actually jumped in very early on in the pandemic meltdown and opened a “special fed window“… gave it a fancy name…. and bought corporate debt in order to settle the markets down. They ended up buying just under 14 billion in debt…. And turned around and sold it a little over a year later… in June of 2021.

The overall bond/debt markets are substantially larger than the equity markets. The Fed will do whatever it takes to backstop a “debt market implosion”. They’ll invent instruments out of thin air like they did in 2008 and even more so in 2020. Never bet against the Fed….because they invented the term… “Too Big to Fail”.

 

[DCLMP]

Well, you're definitely taking in information from somewhere to have formed this apocalyptic view of the markets. The Fed actually jumped in very early on in the pandemic meltdown and opened a “special fed window“… gave it a fancy name…. and bought corporate debt in order to settle the markets down. They ended up buying just under 14 billion in debt…. And turned around and sold it a little over a year later… in June of 2021.

The overall bond/debt markets are substantially larger than the equity markets. The Fed will do whatever it takes to backstop a “debt market implosion”. They’ll invent instruments out of thin air like they did in 2008 and even more so in 2020. Never bet against the Fed….because they invented the term… “Too Big to Fail”.

There's is no doubt the Fed will continue to inflate to oblivion, borrow from the future, print money out of thin air, and spend money we don't have. Were' seeing the effects of that now. Central banks will do whatever it takes to keep the debt market from imploding even create WW3 if they have to. They don't care if people die or suffer. None of it's sustainable we're headed for a massive global meltdown. 2023 will not be a good year.