And so...the "recession" begins

Don M. said:
Welcome to the future! When retirees IRA's are wiped out, and SS is defunded, etc., The ultra rich who really run the nation will be all smiles.
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How funny!

Every time we hit a bump in the economy and the stock markets jumps, a few, misguided people start predicting people being "wiped out" and then they talk about those "evil" Richie's that only watch and smile... It is just not true...!

For me, neither rich nor poor, I 'stay the course' and I am not drawing money out of my market investments. A down market means nothing to me, unless I were in a position that I have to draw money out of the down market. Surely, no body has all their investments/ IRA's in the Stock Market? Diversity is fundamental to retirement planning...
 
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Timewise 60+ said:
Every time we hit a bump in the economy and the stock markets jumps, people start predicting being "wiped out" and then they talk about those "evil" richies that only watch and smile...
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I was just coming here to say much the same... the DJIA fluctuates daily, and often wildly. If I'd freak out every time it does that, I'd be a neurotic mess. (Well, more of one, that is.) :sneaky:

I think what bothers me most is.... two things and they're at the opposite end of the spectrum... the ambulance chasers who get all excited and rub hands in glee when DJ drops 'cause by darn, they jus' KNEW there was going to be something terrible happening... and the pollyannas who start dancing that the rough spots are over as soon as there's a higher closing. Good gracious. On tomorrow's date in 2022, btw, the market closed at 33,811.40... and 33,803.96 in 2023. Oh and last year? Right around what it was today... :rolleyes:
 

i REMEMBER 30 YEARS AGO POLITICIANS ARE ASKED A QUESTON AND 5 MINUTES LATER THEY FINALLY RAN OUT OF GAS WITH NO DIRECT ANSWERE OF THE QUESTION, JUST b.s STUFF THEY BLAB. sAME TODAY ITS PROVED. bsbsbsbsbsbsbsbsbsbs!

A Book of nothing but Lies. The liar thinks he can just laughs those off later as a Haha.
 
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dilettante said:
From the number of mailings I get, quite a few restaurants are probably doing ok off the Retirement and Estate Planning industry.
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Dick's opened a new store near me, 1/4 mile 4 lane entrance. huge, it will most likely fold. New Fast foods also to fold.
10's of millions blown on a 2026 collapse. Kohls closing, Lowes closing, Penny's closing, tons of stuff closing. Trucking
companies laying off / closing. US Steel done. Its not a friendly place nohow!

No one give a dang about sporting good junk anymore. It's P.O.C. Kids are on their carry stuff, even in a stuffed chair.
 
Teacher Terry said:
If you read some of the comments that people high up in this administration have said or written the intent is to make everyone poor. They actually stated that poor people are easier to control because they are spending all their time just trying to survive. Of course the billionaires are getting richer.

I will be spending as little as possible in the next 4 years but of course it may not be over by then and who knows how long it will take to repair all the damage that is being done. Probably our generation will not live to see it. I really feel bad for the children that have to suffer because of this. I just hope that we don’t have a depression because of all the idiotic things that the government is doing.
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Yep lotsl For
Aunt Bea said:
The fluctuations don’t bother me as much as the reasons behind them.
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you got that right. .

self inflicted damage is always the most upsetting
 
i don’t want to get in to politics here but we are being hammered here with tariffs that we are paying via higher prices .

our companies here are having huge contracts and deals cancelled by foreign countrys .

the global economy was doing fine , especially american companies overseas who were seeing record profits as it was .

our interest rates are soaring on bonds and credit markets from the chaos

our investments are plunging

few companies are going to dump billions here when tariffs can be changed at any time as well as any company that spends billions to open here will pass those costs on to us the consumer
 
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I posted the bad side of the market yesterday, so I'll post the good side we're seeing today:

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One silver lining could be a stock market dip that helps people make some Roth Conversions with less of an income tac bite and lower chance of falling off an IRMAA cliff.

Value drops, you convert, and the market inevitably recovers again.
 
dilettante said:
One silver lining could be a stock market dip that helps people make some Roth Conversions with less of an income tac bite and lower chance of falling off an IRMAA cliff.

Value drops, you convert, and the market inevitably recovers again.
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while it sounds good the math may make no difference.

lets say i want to convert 5k to a roth .

you actually need about 6,666 to pay the taxes and have 5k to go to the roth in the 24-25% tax bracket

if markets doubled you have 10k tax free and 1666 went off for taxes

if the 6666 was left in the traditional and markets doubled you got 13,332.
less the same taxes you got the same 10k tax free


people forget assuming same tax rate whether you pay up front or after is the same tax free balance
 
mathjak107 said:
people forget assuming same tax rate whether you pay up front or after is the same tax free balance
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Well in my case I anticipate my income doubling next year, and in a few more years being faced with RMDs. So I am strategizing dodging IRMAA cliffs and diminishing the tax burden under RMDs.
 

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