While I admire this couple, this is exactly why we have a trusted financial advisor. While we have different styles, we both worry about running of of money in our retirement.
We do have enough put away that we can live off the income generated but I do think "the market" is due to a greed crash. The US hasn't had one in almost 10 years. I don't count the dip a couple years ago and consumer financial protections have been loosened. Having someone else scrutinize and rebalance is key for my peace of mind.
https://www.moneysense.ca/save/investing/allocate-cash-retirement-portfolio/
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The guy in the article is investing in individual stocks! Insane! He needs to switch back to a financial advisor, and/or read up about index funds immediately! And he has 80% of their savings in the market, at a time when every signal says a crash is the next big change. He needs to flip the 80% stocks/20% cash into cash 80%/index funds 20%.
ReplyDeleteInstead he is proposing going fully illiquid, and putting all savings into stock. He will likely be bankrupt before too long. The market loves the under-informed!
Fuck the bullshit stock market
ReplyDeleteOne word: plastics!
ReplyDeleteOr today's equivalents: blockchain! virtual reality! Tesla!
ReplyDeleteI’m putting all my money in the Mars colony!
ReplyDeleteI just do whatever my wife says.
ReplyDeleteClyde Wisham lol
ReplyDeleteCass Morrison Ya know, I wrote that as a bit of a joke, but my wife is the one in the family that has actually studied financial planning (has things she can hang on the wall). So, I REALLY do do what she says. It only makes sense.
ReplyDeleteClyde Wisham It is great that you can do that. Spouse and I have conflicting styles; I'm more wary of tax implications and do different pre-purchase research. It's better we have different accounts.
ReplyDelete