Comments on: Can You Still Retire After 2008’s Losses?

By: jeflin

jeflin — Sat, 14 Feb 2009 02:07:08 +0000

Many financial planners told us that we need 1-2 million dollars to retire satisfactorily on our current income. Well, many well-to-do people went along with them, took out their CDs and invested in their products, now they are further away from their retirement targets than ever. The excuse being given... unforeseen system risks. Hence, I can only say "retirement" is but a far-fetched idea for many people approaching retirement age now. And these are the prudent, risk averse lot. jeflins last blog post..Protectionism Will Cost Investors Dearly

By: Dan

Dan — Wed, 04 Feb 2009 13:54:56 +0000

This is a downturn and should have been expected. The last 30 years of (mainly) boom has lulled us into false hope that things will go up forever.
One should choose a financial planner that is RICH – not from taking money from investors but someone who is successfull with their own investments.
The ratio of retirement money should be moved from stocks into fixed funds as one gets closer to retirement due to the riskyness of the market.
As in the late 80’s this is a buying opportunity. The market will eventually rebound.

By: Randall

Randall — Sat, 10 Jan 2009 16:43:23 +0000

@TStrump – I’m kind of excited about the buying opportunities too. Houses (rental properties and/or new main house ) are getting dirt cheap, compared to what they used to be just a year ago.

@Vicky – GREAT attitude there. Things are bad, but that seems to bring out the best in us many times. Adversity is a challenge, and good people rise to any challenge.

By: Funny about Money

Funny about Money — Sat, 10 Jan 2009 16:15:50 +0000

At 63, I may not have much choice: around my workplace, rumors of layoffs abound. No one will hire an aged woman with a Ph.D. in English. If I’m canned, I will have to take early retirement.

However, statements from my various investments are showing I haven’t lost anything like the 40% or so I’d anticipated from the hysterical news reports. It depends, apparently, on how your money is invested, and with whom. TIAA-CREF has held its own–gained all of $40 this quarter, but at least not lost anything. All my Vanguard funds have done about the same: no great gains, but no significant losses, either.

I don’t expect to live well, but neither do I expect to starve. And to tell the truth, I’m not even faintly interested in working until I drop dead. If I could walk off the job today, I would — can me, and I’ll use my severance pay to buy a bottle of Champagne. Retirement will be tight, but it will be tolerable: and that’s one heckuva lot better than working.

By: TStrump

TStrump — Sat, 10 Jan 2009 05:34:30 +0000

I am under 40, so I am not really concerned about what’s going on.
As a matter of fact, I like the buying opportunities that are presenting themselves.
I am worried about my friend who wants to retire next year, though.
This ’storm’ has really affected his portfolio.