Brexit "your thoughts" Is your 401 k safe?

How far will the stock market drop?

  • 5%

    Votes: 1 5.3%
  • 10%

    Votes: 1 5.3%
  • More than 10%

    Votes: 8 42.1%
  • Nothing to worry about,will recover soon

    Votes: 9 47.4%

  • Total voters
    19

By The Book

Well-Known Member
I don't know enough to agree or disagree with anyone about anything. All I know is that I was listening to Ric Edelman's talk show yesterday and his explanation made sense for me since I'm a long term investor, not a trader.

What the Brexit means for your retirement - Yahoo

“This is a classic knee-jerk reaction from Wall Street traders,” Edelman tells Yahoo Finance about the Brexit selloff in stocks. “Our clients are focused on their long-term goals. There will be no sustained impact five years from now. They can ignore it, or if anything, capitalize.”

Edelman Financial Services manages $16 billion for more than 30,000 clients.
It seems like time after time that when the market goes down 5-10% it always creeps back to the previous highs before the drop. If people are paying attention to past drops in the market they won't pull their money out of stocks and put them into bonds. They will miss the recovery when things settle down.
 

Brownslave688

You want a toe? I can get you a toe.
Thanks for your advice but I prefer to listen to the pros. My financial adviser (Edward Jones) told me to hold on to my shares and to use their money (dividends) to buy more.
Not that they are terrible but Edwards jones people are not certified financial advisors for the most part. They take a few tests through Edwards jones but the bulk of becoming one is showing that you have a plan to drum up new customers.
 

Catatonic

Nine Lives
I don't know enough to agree or disagree with anyone about anything. All I know is that I was listening to Ric Edelman's talk show yesterday and his explanation made sense for me since I'm a long term investor, not a trader.

What the Brexit means for your retirement - Yahoo

“This is a classic knee-jerk reaction from Wall Street traders,” Edelman tells Yahoo Finance about the Brexit selloff in stocks. “Our clients are focused on their long-term goals. There will be no sustained impact five years from now. They can ignore it, or if anything, capitalize.”

Edelman Financial Services manages $16 billion for more than 30,000 clients.
My advisor and I just discussed this this morning. Only making a couple moves.
Even with the BREXIT drop, I'm up 6% for the year. Nothing I did, just my advisor.
 

oldngray

nowhere special
My advisor and I just discussed this this morning. Only making a couple moves.
Even with the BREXIT drop, I'm up 6% for the year. Nothing I did, just my advisor.

My advisor called me this morning wanting to set up a meeting. They must be getting a lot of pressure to get more money back into the market. I told her I'm not doing anything yet. Not selling anything but still waiting for it to bottom out before buying anything.
 

Catatonic

Nine Lives
My advisor called me this morning wanting to set up a meeting. They must be getting a lot of pressure to get more money back into the market. I told her I'm not doing anything yet. Not selling anything but still waiting for it to bottom out before buying anything.
Mine was more of rebalancing of assets.
I have everything in the Market, CD's and we just put 20% in Money Market back in March.
I expect that I'll put half of the Money Market into hard hit but should rebound assets.
Luckily, I specified nothing in the Financial market a couple years ago ... might be a good time to jump back into that sector.
 

moreluck

golden ticket member
Playing with options, when you know what you're doing...best day $90,000 profit. (Priceline) Many lessr days of $10,000 and $6,000. No financial advisor needed.
Worst day a few hundred lost.
 

moreluck

golden ticket member
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