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I got a shock today retirement fund report.


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I was dreading getting my quarterly report from my retirement funds. Part is in Traditional IRA and part in Roth IRA. Both are with Empower Retirement in Denver, Colorado. I have 100% in high risk stocks. 

I had a friend that by the middle of March had lost all of his with another company so when the report came last week I just let it sit there. 

So I opened them up today and got a complete shock. Both had gains of a total of $524.56 for the last quarter with the markets in the U.S. going crazy. 

Evidently they have it invested in the right businesses that gained during this pandemic.

It was like a weight was taken off my chest. 

SO HAPPY MUSTANG DAY TO ALL.

So I would recommend them if you are looking for someone to put your retirement with.

:)

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When a man is in the woods and talks and no women are there is he still wrong??:P

David

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my retirement losses have been pared to a total of about 10% since the market has started coming back. I was relieved to see it isn't worse at the moment.

http://www.7173mustangs.com/gallery/1_01_07_15_8_53_18.png

 

"I love my Hookers!" and "Get some Strange" probably have a different connotation to non automotive enthusiasts!

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So in January I had a CD mature and was looking for some better rates. I invested in a J P Morgan CD that is linked to the European Euro Stoxx Bank Index. As long as the index is equal to or greater than 77% of the initial value as of January 31, 2020 it will pay 1% per quarter for up to 4% yearly. Over the history of the exchange it has never gone below that percentage amount - UNTIL NOW!!!!!! No lost on the initial investment just no interest earned. Have very little in stock. Since I retired I switched almost everything over to interest bearing type of accounts with no risk. Not willing to loose it at my age.

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Kilgon

 

 

"The only dumb question is the one not asked"

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I took early retirement and finished work end of August last year.

 

Bought myself what I thought was going to be a fun car to actually drive, and now my retirement funds are being used to try and restore the Mustang :(

 

My fund investments have lost over £70k (on paper). :(

 

Not great, but I know I'm not as worse off as some folks losing their Jobs and loved ones.

 

Stay safe everyone,

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Seems about right- my Profit Sharing / 401k account is down 9% YTD. I'm 56 so I don't plan on touching it for a while.

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So in January I  had a CD mature and was looking for some better rates.  I invested in a J P Morgan  CD that is linked to the  European Euro Stoxx Bank Index.  As long as the index is equal to or greater than 77% of the initial value as of January 31, 2020 it will pay 1% per quarter for up to 4% yearly.  Over the history of the exchange it has never gone below that percentage amount - UNTIL NOW!!!!!!  No lost on the initial investment just no interest earned.  Have very little in stock.  Since I retired I switched almost everything over to interest bearing type of accounts with no risk.  Not willing to loose it at my age.

 

Agree 100% 

When 911 happened I was running a large retail store, 20m annual sales. Sales dropped by 62% . I saw the writing on the wall and switched every penny into No risk low interest bearing accounts. I worked hard my whole life earning my small nest egg for retirement. Being I was over 50 when 911 came about I couldnt see working another 20 years to earn it back. Didnt make much on interest but.......l didnt lose any principal and Im Ok with that. I like most saw people lose there entire retirement fund.

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I had an uncle who never married- he passed away a number of years ago. Engineer with Armstrong for most of his career, and a frugal guy his entire life so he had a lot stashed away. His $2 million in investments dropped to $1 million after the 2009 economic crash. But he was probably only using a few K per year to live on, so it didn't matter much. Made our inheritances smaller, that's about it.

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I was the only employee where I worked that paid the taxes on the funds going into my 401. When I had talked to an investment guy he said I did good that was better. It was always felt that the extra money not paying taxes would earn more bit it did not.

One thing that pisses me off is after 70 you have to take out a percentage of your retirement each year and pay taxes on that. Government way to hit us old guys for more money.

When I talked to the investment guy he suggested that I buy and sell classic cars since I knew them pretty good. Only problem is once I buy I do not want to sell, lol. 

I just wish I had known about working in China when I was about 50 I could have hundreds of Mustangs, lol. They have so much more money in China it is crazy. I know people there that retired in their early 50's and had several apartments and a business and were female. The U.S. just wanted to give them all our money. 

I just wonder what is going to have to happen to pay back all the give away trillions this time. I am sure we borrowed from China again. They hold most of our government debt. 

At least not super cold here we did have a little frost this morning.

When a man is in the woods and talks and no women are there is he still wrong??:P

David

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Although somewhat different financials North of the Border... I retired (early) at 56, three years ago. Full indexed Municipal Pension. I also kept my investments in a safe zone, the effects of this Pandemic have little bearing on their status. I’ve always played it conservatively, make a little each day, strive for Freedom 55... My wife turns 55 in two weeks and she will start collecting her Nursing Pension... More car funding?? 

 

Unless the big banks fold..., Pension Fund’s dissolve... we will be fine moving forward. If these things happen, I think the world will be on the brink at that time and money won’t matter...

"Yes dear", has kept me in the hobby a long time...

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Retired last April and in Sept pulled about 80% out of the market and put the funds in CD's.

 

Not going to get rich, but at least it's safe. The other 20% I can let it ride for some time.

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