/biz/ - Business & Finance

Buying guns ammo and stocking up on supplies

>>9055404

Never sell.

Problem solved.

>>9055544
Right but the challenge is, if I'm around retirement age (lets say I'm 65) and shit takes a turn for the worst. You know as well as I know that the number say not to sell, but the fact of the matter is that I still have to live off of this money and I might not live through a long downturn market, what then? I don't want to be one of those guys that is 60+ working at a Starbucks.

>>9055404
im doing crypto, sorry OP. I'm young enough for this to not be completely suicidal

>>9055404
I used to contribute to my 401k but they're returns have been shit, I can beat their yearly gains with 2 days on binance. I don't trust anyone in or around a conventional stock market either so I'm now 100% crypto/Fiat. The dow has a while to go before it hits bottom, especially with the fed proping it up like this. Once interest rates spike there will be almost nothing you can seriously invest in and pull a profit that isn't crypto

>>9055404
>retirement
Kek, with the jews plan you work till you die
So, never gone pay in, not planned on paying any taxes, and when time comes I go with a bang and a poisonous cloud

>>9055718
Only 31 here, but still I worry if the market shits itself. Case in point, check this video

https://www.youtube.com/watch?v=eNo9HLgbax0

Now I get that the likely hood of another house-crisis level event happening is pretty slim but at the same time there's always something new on the horizon. One case that I head was that with the proliferation of Amazon, which is causing huge ripples in retail stores and malls, with the added competition a lot of them are closing down and with that entire retails areas collapse (malls are on the decline and retails is moving online) and these things tend to pull each other down. I just want to be prepared in the long run.

i'm yuropoor, crypto + emigration is my retirement. barring paradigm shift, we have 20 years before social safety nets collapse under the weight of leeches. in france 40% of the population pays taxes, down from 53% 7 years ago

>>9055404
lol 401k. lol ROTH IRA. either make my retirement money through crypto or wagecuck forever.

Im 29, got a 250k settlement and already invested 100k of thst in crypto already up 60k, thinking abouy wiring another 20k today. This bullrun will put me over a million, i plan on holding for 3 years then cashing out

>Retirement plan
by the time you're about to fucking retire your life quality will have gone to shit. This is your life, here and now. and you're spending it here.

>>9056124
fuck this segment was sad. these boomers were literally crying over their statements. some 60 year old woman had only like 50k...

Classic cars

>>9055404
>retirement
> how do I protect my investments in the case of a market downturn like what we saw in 07-08 or even for something lighter like a recession which we are over due for?


How old are you grandpa? if youre less than 30 years old then stfu about recessions bc youre gonna experience a few of them.. Get an index funds and stay in the market and youre problem is solved

>>9056357
also, the closer you get to retirement - the more boring safe assets you buy. Like bonds etc. People should already know this

3% of earnings go to 401k. 10% employer match. $125/week goes to Discover savings account, currently paying 1.5% interest. When I get to $5,500, I deposit that into a Vanguard Roth IRA. All one fund, the retirement target 2040. $100/week goes to buying crypto on Coinbase. $100/week buys REITs on Robinhood. $105/week goes to Stash-$100 to one of 15 ETFs, $5 to buy KO stock. And $5/week goes to Acorns, because I'm too lazy to fuck with closing the account. Acorns is kind of a piece of shit, tho.
42 year old truck driver grossing $55-60K a year. Modest apartment, modest Jap sedan, expect to die alone, but hope to be able to fuck hookers on a regular basis.

>>9056313
Yeah this broke my heart and put a bit of fear into me, which is why I want to re-evaluate my retirement but I only have $10k so far (just a few years into my job) and I want to learn the lessons from them and improve. Ideally I want to die and leave something to my children for the long run.

>>9056357
>>9056378
Yeah but I don't want to be eating Alpo dog food while trying to weather the storm.

>>9056124
Lmao stupid boomers
S

>>9056381
Keep it up

>>9057082
What? Buy some gold then.. The value will increase a lot in bad periods - when you need it

You're an idiot if you're not contributing to a roth ira or 401k. The tax benefits are too good to pass up.

You will have to turn crypto into usd at some point and the government will bend you over in taxes

>>9056124
>>9057156
>>9057082


That's typical boomer greed in action. Don't feel sorry for it. They refused to take responsibility of managing their own money. 99% of company 401ks are complete trash. You have to manage it on your own at vanguard or something similar, otherwise, you're going to get no returns and high fees.

>>9055404
34 here. Moved retirements to crypto and all stocks as well, mid last year. Got out of mutual/index funds and even sold my tech stocks.
All my time now is split between AI research and crypto. It will pay off in the next decade, right now things are barely starting to work.

>>9055404
bitcoin
i cant exactly put my small paltry peasant monies into some far fetched longterm scheme with low roi

not practical

>>9055404
>But biggest question that I have is, how do I protect my investments in the case of a market downturn like what we saw in 07-08 or even for something lighter like a recession which we are over due for? Help is appreciated.
Golden butterfly portfolio or an even more conservative portfolio.
20 % gold
20 % reits
20 % bonds
20 % blue chip
20 % small caps

>>9055679
If you’re close to retirement you want to sit on bonds

ill just kms

yolo

>>9056381
You sir are winning.

>>9057325
no you dont. thats a myth. there is larger risk in bonds and reits than in stock market with current rates.

http://www.morningstar.fi/fi/etf/snapshot/snapshot.aspx?id=0P00002DBL

http://www.morningstar.fi/fi/etf/snapshot/snapshot.aspx?id=0P00002DB3

>>9056291
Having fun living your last year's a broke piece of shit

http://www.morningstar.com/etfs/arcx/bnd/quote.html

there are some serious losses in bond markets atm

>>9055404
Took everything out of stocks and banks

Put it all on rental property since nothing short of a nuclear apocalypse will stop that mooning

>>9057686
I wish I had enough to invest in rental properties to get some side income going but between rent, student loans and other basic bills I'm kind of tapped out

>>9055404
aaaaaaaaaaaaaaaaaaaaaaaaaaaahahahahaha IRA and 401k's are the biggest ponzi scheme in the planet.

>>9058549
What? It's one of the safest things you can do.

>>9056247
you lost if you dont cash out during the run. hit 2million and take out 1.5

>>9056124
>Now I get that the likely hood of another house-crisis level event happening is pretty slim
wew lad

>>9055679
Good insight here. The market works for you young, but works against you as you age.

>>9056124
Diversify and remember that cash is King. Whether we're using dollars, bitcoin, or basis.

>>9058584
The matching and tax benefit are the only worthwhile parts

>>9058708
...right. That's the point.

>>9058708
I think (and correct me if I'm wrong here) but he might be implying that prior to 401(k) becoming pretty much the own retirement vehicle available, pension used to be the top option. But now 401(k) have taken over and the money that would otherwise be going into your pocket is going into the pockets of financial planners and mutual fund managers. Just a guess though