I'm frustrated. Would the real financial advisors on here say what they think the market is going to do. My lady says I'm in such low risk tolerance, I should just move everything to the bank. But, like most, in the last year, I've lost almost $40,000. I am the first to admit, I know nothing about the markets. I ask her if I'm in such a low risk, what have I lost anything. Morgan Stanley is frustrated with me because, as yall know, I scream at the first sign of loss. They want to get rid of me.

Should I just move everything to the bank or wait it out.

I'm 70, pretty broke down buy my organs are still fairly good.

If we knew when we were going to croak would make it easier, but if we could know this, we could pick the Mega Million numbers

So, professional advisors who handle OTHER people's money, what would you tell someone like me?

Following

Move it all into crypto, don’t be a P

Ferraris or Food Stamps

Lost $40K or just down $40K in value?

Me too!

Sell a kidney maybe?

1st stop yelling at Morgan Stanley, you voted for this crap because of mean tweets and an old nag owning you.

My philosophy is... at 70ish, riding the stock market 'waves' ain't an option. There are no redo's at this age. Not a financial advisor, but strong gut feeling that interest rates are going to continue to rise (not the 1980's rise), but none the less, keep rising. Slow and steady growth is my philosophy. Investment firms just want to use your money, that's how they get their money. My observation is, they don't care if your 'value' is down $100k. It's not their money!

That’s all?

You haven't lost anything if you don't touch it. At this point, since you didn't move earlier, you might as well stay put. It'll go back up...someday.

I was just wondering where all the "experts" (not real financial planners) were on here. Used to be tons of posts about somebody "killin' it" and how simple it is to time the market. 'Been reeeaal quiet lately.

At 70, retired and your personality...you need to not have anything in the market. Day traders with your personality back in the 90's were jumping off buildings...I'm being funny but serious in a bit. You're crying about 40k...someone that is genetically made for this stuff would've said I've lost X% (ain't no way that is double digits in your mountain of wealth).

It's October...put 10k in a series I bond now and in January put another 10k in. The rest leave in things that either pay you a dividend or tiny interest percent...these are the areas you should be focusing, not paying any attention to the actual market but instead make sure you have small recurring income.

I am shocked you lasted this long with any Financial Advisor...you expect personalized service but you don't want to pay for it, plus...you don't have enough to warrant that sort of attention. Sorry, someone needed to break it to you.

Also, FWIW - ducknbass isn't wrong either.

Buzz, does your advisor have you keep 12 months of living expenses in cash ? If not, fire them. You should not have to be selling in this market.

Have you lost more than 10% this year? If so, fire them. You should be protected against market drops like we have experienced.


Does your retirement account provide more than 1/3-1/4 of your living expenses?

Savings accounts right now are paying over 2% and CD's are over 3%.

Judd, said it well.

FWIW, I wish I was only down $40k. I'd say you are doing well....

Along the same lines. Wells Farrgo and the local banks around here are paying squat for interest on savings and CD's. When are they going to be going up? As long as us fools keep it there?

DITTO...

I moved 80% of my TSP (govt 401K) into the G-Fund in Dec just before I retired. Just moved the rest in July after a bit of a panic. Took a small bath in doing that, but not looking so bad today. I keep seeing the DOW hitting 25K. I'll get back in at 25K or just before the 2024 election. But what do I know?

good info from a few of you.

Capital One online is paying 2.15% for savings.

No problem

Yep, just paper losses. I am down from my high but still up from original purchases. September is almost always the worse month for stocks. I locked in some gains in August. In hindsight I should have held onto to DVN but with how fast it was dropping I wanted to take the 100% gain I had. It was in an IRA account so no tax consequence for quite a while. Since I invest on my own I read a lot. The bottom line is noone really knows where the market is headed. You can read opinions every day that forecast both directions.

experts on here would say:
VOTE REP.

Some say i'm the village idiot.

Never had that kinda money ta invest.

gas prices keep going up, oil well, just my


Best wish's Buzzsaw.

You don't lose until you sell. Even if you are in retirement you aren't cashing it all out at once. When the market is down take out as little as you can and just what you need to survive, required distributions, etc.

No one knows what the market will do. If they did they would be the richest person on the planet. All we know is the history. Over the past 80 years or whatever the general trend has been up up up. The logical conclusion is if you ride out the waves over time you will be ahead. I get that you are 70 and you wonder if you will be around long enough to ride out the waves. My Dad died at 69 and my Mom at 76 so I get the concern. You could drop dead tomorrow or you could live to be 100. I would plan like if you are going to live to be 100 because I would much rather die early with a bunch of money left over that I can leave to my heirs or whatever than plan on living to 80 and live to 100 and spend my last 20 years eating cat food.

Inflation is very real. Most are familiar with it now because it is very high and in the news but even before that the cost of things always goes up. Sometimes slow sometimes fast but it always goes up. If you invest in really conservative things like savings accounts, CD's, government bonds, etc you are GUARANTEED to lose money because it is very rare that these things pay more than the inflation rate. You may have more dollars, but you can buy less with than you could when you made the investment. For example lets say a year ago you could fill up your pickup for $50. If you put $50 in a saving account a year ago it might be worth $52 today. You made money but will that $52 fill up your pickup now? This happens across the board with everything - food, utilities, vehicles, clothing, you name it. If your investments are not earning more than the true inflation rate you are losing buying power and going into a worse position over time.

It is important to have savings and emergency funds that are in safe accounts that likely pay low interest but you don't want to over do it. 12 months of expenses is a good goal. Beyond that you need to do something with your money that will keep up with inflation.

If stocks make you uneasy have you though about real estate? Real estate keeps up with inflation for the most part. Rents and home values go up with time.

If you have some money just sitting,,, here is what I do. --------- on these trades ( 200 shares of dvn) I will make $1260 /$13,100 = 9.6% in 6 weeks.

I can’t imagine playing around in the market during retirement.