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Thu Feb 27, 2020, 08:17 PM

I'm 78. My IRA dropped 15% in 7 days.

What. The. Fuck?

24 replies, 1419 views

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Reply I'm 78. My IRA dropped 15% in 7 days. (Original post)
trof Feb 2020 OP
MaryMagdaline Feb 2020 #1
ooky Feb 2020 #12
we can do it Feb 2020 #2
AGeddy Feb 2020 #3
trof Feb 2020 #4
AGeddy Feb 2020 #5
Roland99 Feb 2020 #6
empedocles Feb 2020 #13
Happy Hoosier Feb 2020 #7
FBaggins Feb 2020 #16
Happy Hoosier Feb 2020 #18
pamdb Feb 2020 #8
beachbumbob Feb 2020 #9
exboyfil Feb 2020 #10
doc03 Feb 2020 #11
sprinkleeninow Feb 2020 #14
Shermann Feb 2020 #15
dumbcat Feb 2020 #17
trof Feb 2020 #19
jojog Feb 2020 #20
Demovictory9 Feb 2020 #21
Hekate Feb 2020 #22
pansypoo53219 Feb 2020 #23
Kaleva Feb 2020 #24

Response to trof (Original post)

Thu Feb 27, 2020, 08:20 PM

1. Hang in there. It'll come back

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Response to MaryMagdaline (Reply #1)

Thu Feb 27, 2020, 08:50 PM

12. He hopes.

It might keep going the other way.

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Response to trof (Original post)

Thu Feb 27, 2020, 08:24 PM

2. Where was is 3 years ago?

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Response to trof (Original post)

Thu Feb 27, 2020, 08:27 PM

3. I get a kick out of a 78-year-old saying...

 

.."what the fuck".


Hang in there. It will come back after things settle down and it finds the bottom.

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Response to AGeddy (Reply #3)

Thu Feb 27, 2020, 08:29 PM

4. I can do MUCH worse. Welcome to DU.

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Response to trof (Reply #4)

Thu Feb 27, 2020, 08:30 PM

5. Thanks.

 

Nothing personal about it, I find it humorous.

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Response to trof (Original post)

Thu Feb 27, 2020, 08:34 PM

6. Why wouldn't you have it mostly in conservative, fixed-rate investments?

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Response to Roland99 (Reply #6)

Thu Feb 27, 2020, 08:52 PM

13. . . . or t bills

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Response to trof (Original post)

Thu Feb 27, 2020, 08:34 PM

7. Maybe a little late now, but...

Why are your assets so exposed to the market at age 78? Thatís very risky as youíve just discovered.

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Response to Happy Hoosier (Reply #7)

Thu Feb 27, 2020, 09:12 PM

16. It all depends on your time horizon and goals

Plenty of people in their late 70s donít need the money (they live off a pension and SS and have no debt) and realize that theyíre really managing the money for their kids/grandkids.

We might be looking at a 40 year investment here... in which case equities could be entirely appropriate

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Response to FBaggins (Reply #16)

Thu Feb 27, 2020, 09:16 PM

18. In that case, why mention age?

The implication was that this affected the OP right now. If the IRA is gravy, itís not really a big deal, right?

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Response to trof (Original post)

Thu Feb 27, 2020, 08:36 PM

8. IRA


I lost $12,500 on Monday. I haven't looked since. I'm 68

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Response to trof (Original post)

Thu Feb 27, 2020, 08:37 PM

9. be glad your SS check not dependent on market result like this

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Response to trof (Original post)

Thu Feb 27, 2020, 08:43 PM

10. This is the shell game the Republicans

Play with retirement accounts and the stock market. They point to overall returns, but when a correction occurs they question why did you have so much in the market. Sorry my crystal ball was broken. Unlike wealthy investors, most folks can't wait for a recovery. Many need the money in a short time window.

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Response to trof (Original post)

Thu Feb 27, 2020, 08:48 PM

11. You must be in some really risky investments for your age. I am 71

and only have 40% of my portfolio in equities only down 3.3%.

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Response to doc03 (Reply #11)

Thu Feb 27, 2020, 08:56 PM

14. I moved 2 401ks into cash last year and then got feeling like

I shoulda waited a bit bc look how it gained. Now Ima not sorry. I can't be high risk, even medium at this point in time which the options were in. It is what it is.

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Response to doc03 (Reply #11)

Thu Feb 27, 2020, 09:07 PM

15. I'm 60% equities and down 6.2%

Rally tomorrow? Dead cat bounce?

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Response to trof (Original post)

Thu Feb 27, 2020, 09:13 PM

17. That's way too much.

What the heck is your IRA portfolio breakdown? Even 100% equity funds shouldn't have gone down that much. WTF is correct.

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Response to trof (Original post)

Thu Feb 27, 2020, 09:16 PM

19. To respond to many of your comments about my age and risk:

I have an investment guru who I trust implicitly.
I have been with him a long time.
For my age and life expectancy, he is VERY conservative with my investments.
I am not a millionaire.
I have a smalish ($1500/mo.) pension and S/S retirement benefits.
(Thank you very much FDR.)
There's me and Miz t.
We count our pennies and live a fairly comfortable middle class life.
No cruises, but we dine out and catch a movie in an actual theater once in a while.

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Response to trof (Original post)

Thu Feb 27, 2020, 10:06 PM

20. I am down $58K this week

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Response to jojog (Reply #20)

Thu Feb 27, 2020, 10:14 PM

21. ouch.

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Response to trof (Original post)

Thu Feb 27, 2020, 10:15 PM

22. MAGA! maga?

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Response to trof (Original post)

Fri Feb 28, 2020, 12:01 AM

23. imagine if W had his way + put SS in the wall street casino. 401ks a crock.

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Response to trof (Original post)

Fri Feb 28, 2020, 12:10 AM

24. I live on $1340 a month SSDI and VA pension. i have no such worries.

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