401k balance

[Up In Smoke]

Please elaborate.

Before the whole Covid market crash my 401k was $136,000. Today it’s about $128,000. I’m part time and have eight years in.

Thankfully, my wife has a far better looking situation, though the value has declined some.

If you are strictly a buy and hold investor, you are subject to the back and forth of the market. Buying options is a cheap way to take out insurance on your long positions. There are sources on the internet, classes through trading platforms and at your local tech or trade schools. Our community also has many trading clubs where people can exchange ideas and strategies. Knowing how to protect your investments is as important as deciding how much you can afford to invest. The most accurate statement I hear all the time is " I lost money in my 401k". Failure to manage your retirement portfolio is no one fault but your own.

 

[NC man]

I do recall that someone at work mentioned this a couple of years ago. Is 65 the cutoff? Or do you still get this if you retire later and haven’t yet used Medicare?

If eligible you get it when you retire,pretty sure you must be at least 55. I’m not sure after 65,fedex probably assumes you would go Medicare.can go to the retirement site and get all the details.
Well the chart by McFeely shows 65 or older 11k so at 66 67 etc it stays at 11k. Don’t think Fed has many couriers over 65.

 

[What'dyabringmetoday???]

The smartest investors on the planet would say STAY the course. Keep investing weekly. You buy more stock at dips with DCA , dollar cost averaging, and will come out way ahead when the market comes back.

It does depend on when you are retiring. If a ways to go keep doing what you are doing.
I'm retired and will not start RMD until I'm 72.5. over 6 years from now. We still invest a little aggressively for our age. perhaps 70/30 stocks to cash.

This is not coming from me. Buffett, Bogel ( started Vanguard funds where most of our retirement money is ) and many other smart business people advise.

Our retirement accts were in the high 6 figures 7 years ago when I retired.
They have doubled since then. Thru ups and downs of the market.

Not too worried now . Only if something unusual and never before seen occurs. In that case we still have our paid off home which is worth 7 figures and a good chunk of cash in several banks.

Whatever you make try to invest the max in the 401k and put aside cash every payday.

Seven figure home- sure.

 

[MassWineGuy]

If you are strictly a buy and hold investor, you are subject to the back and forth of the market. Buying options is a cheap way to take out insurance on your long positions. There are sources on the internet, classes through trading platforms and at your local tech or trade schools. Our community also has many trading clubs where people can exchange ideas and strategies. Knowing how to protect your investments is as important as deciding how much you can afford to invest. The most accurate statement I hear all the time is " I lost money in my 401k". Failure to manage your retirement portfolio is no one fault but your own.

I agree. And I’m certainly willing to learn what options are and how they’re used.

 

[IVE GOTTA PACKAGE 4U]

I agree. And I’m certainly willing to learn what options are and how they’re used.

Just remember you cannot gamble with your 401k or your other retirement funds

 

[MassWineGuy]

Just remember you cannot gamble with your 401k or your other retirement funds

Oh yes. I won’t do that. So unless I thoroughly understand options or other things, the 401k stays put where it is.

 

[UnionStrong]

How many people can pick stock winners consistently or time the market correctly?

no one that I know of. Buffet and just a handful out of 8 billion people on the planet.

That is why we use Index Funds at Vanguard. very low cost and good returns safely . past performance does not guarantee future results......blah blah blah.

The Pelosi’s seem to pick winners all the time..

 

[IVE GOTTA PACKAGE 4U]

Oh yes. I won’t do that. So unless I thoroughly understand options or other things, the 401k stays put where it is.

Don't gamble on your future

 

[Up In Smoke]

Oh yes. I won’t do that. So unless I thoroughly understand options or other things, the 401k stays put where it is.

A rational thinking person doesn't buy a house and not have insurance. A well prepared person doesn't start a family without an insurance plan. Finally, a responsible person shouldn't invest for retirement without insuring the best possible outcome. IMO

 

[IVE GOTTA PACKAGE 4U]

A rational thinking person doesn't buy a house and not have insurance. A well prepared person doesn't start a family without an insurance plan. Finally, a responsible person shouldn't invest for retirement without insuring the best possible outcome. IMO

With that being said most 401K plans and I'll give you that option

You do that with money outside of your 401k plan.

 

[UnionStrong]

Don't gamble on your future

He works at FedEx, his future looks bleak

 

[Up In Smoke]

With that being said most 401K plans and I'll give you that option

You do that with money outside of your 401k plan.

Yes, my wife and I have brokerage accounts outside of our 401ks. We use those accounts to protect the long positions that we own. We typically own individual stocks and not funds.

 

[IVE GOTTA PACKAGE 4U]

Yes, my wife and I have brokerage accounts outside of our 401ks. We use those accounts to protect the long positions that we own. We typically own individual stocks and not funds.

That's exactly what I was trying to say.
Do that stuff with extra money outside of your retirement funds

 

[Up In Smoke]

That's exactly what I was trying to say.
Do that stuff with extra money outside of your retirement funds

Yes, sorry. Most of the brokerage accounts have investment programs that walk you through insuring your investments.

 

[MassWineGuy]

A rational thinking person doesn't buy a house and not have insurance. A well prepared person doesn't start a family without an insurance plan. Finally, a responsible person shouldn't invest for retirement without insuring the best possible outcome. IMO

Thanks Up, I think. These plans are foisted on us by employers. Not everyone has adequate knowledge to maintain such insurance. I don’t. I would think that if there were ways to do so, it would make bigger headlines than at the Brown Cafe.

 

[Up In Smoke]

Thanks Up, I think. These plans are foisted on us by employers. Not everyone has adequate knowledge to maintain such insurance. I don’t. I would think that if there were ways to do so, it would make bigger headlines than at the Brown Cafe.

Protective puts are a investment staple and quite simple to maintain. This isn't ground breaking news, but a everyday investment tool.

 

[MassWineGuy]

Groundbreaking to me. I’ll investigate. Can you please give an example of how this would be used with mutual funds in a 401k? I don’t get the jargon I’m seeing. Long call. Marriage put. ?? I’ll freely admit that I don’t have enough knowledge to use such things.

 

[MassWineGuy]

That's exactly what I was trying to say.
Do that stuff with extra money outside of your retirement funds

What’s a long position?

 

[DriverNerd]

What’s a long position?

Actually owning a security. You're best off googling a bunch to learn about the differences in trading before asking a bunch of questions. There's a lot to learn to be good at it.

Then when you learn you start small and work your way up

 

[Up In Smoke]

Actually owning a security. You're best off googling a bunch to learn about the differences in trading before asking a bunch of questions. There's a lot to learn to be good at it.

Then when you learn you start small and work your way up

If your just protecting your holdings, it's pretty simple. Once you get the hang of it, you start to string your options. Using house money instead of your own. Of course, if the market only moves one direction, your limited as to moves you can make.