211–220 of 221 posts
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> The other issue is interest rates being so low it amounts to a war on savings I used to think this; then I discovered index funds, and stopped keeping money in a savings account.
How did you feel in the 2008 crash? No snark, just wondering how that was versus a savings account.
Then corporate America changed: Union membership waned. Executive boards, under pressure from financial raiders, focused more intently on maximizing stock prices. ... Exactly what led corporate America away from pensions is a matter of debate among scholars, but there is little question that they seem destined for extinction, at least in the private sector. Oh, please. Nobody seriously debates this, the answer is rig…
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> That's a ponzi scheme. In no away shape or form a ponzi scheme.
Seems to somewhat fit the defition, if you squint a little > A Ponzi scheme is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading. https://en.wikipedia.org/wiki/Ponzi_scheme
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That's why independently run 401(k)'s are the best. I'm a trustee of the one for our company, and there's no way I could raid it.
Lots of people "raid" it by going to cash in the down-turns in the market and buying in the hyped peaks losing over 50% in the cycle.
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Recessions like 2008 are part of the normal ebb and flow of the markets, and we're likely heading into another one (though hopefully not quite so bad). 5-6 years earlier wouldn't have made a noticeable difference unless they were planning on retiring between 2008-2012ish, the markets have recovered after all. Personally, if I see the stock market dip like that again I'm going to double down on my 401(k) contributions…
Historically, timing the dips does not work out, but maybe if everyone is thinking that way the strategy could work.
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> The other issue is interest rates being so low it amounts to a war on savings I used to think this; then I discovered index funds, and stopped keeping money in a savings account.
How did you feel in the 2008 crash? No snark, just wondering how that was versus a savings account.
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How did you feel in the 2008 crash? No snark, just wondering how that was versus a savings account.
The best way I ever heard it described was "the market is on sale right now".
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How did you feel in the 2008 crash? No snark, just wondering how that was versus a savings account.
VTI is up ~200% since the bottom. If he bought (dollar cost averaging) and held. Probably feels great.
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Historically, timing the dips does not work out, but maybe if everyone is thinking that way the strategy could work.
If timing the dips would work consistently there wouldn't be any dips because everyone would take the risk free return until there is no risk free return left.