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01-29-2018, 09:45 PM | #1666 | |
Veteran
Join Date: Oct 2008
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Posts: 1,606
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01-29-2018, 10:03 PM | #1667 | |
Veteran
Join Date: Oct 2008
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Quote:
As far as the "bottom falling out," you being 36 should not worry about this as long as you have a disciplined long term strategy. A market correction of 10% won't break you like it would a person near retirement, and you will be able to participate in the inevitable recovery, which is the most lucrative time in a market. As for your father, he may want to reallocate his portfolio to something more defensive, or at least conservative. If he is content with his savings, he can take a preservation of capital approach so his Principle isn't eroded by inflation. There are so many variables here depending on his objective. Does he plan to retire soon and just need income to supplement social security? Does he plan on working for several more years? To go down the planning rabbit hole, does he have significant liabilities, and has he considered long term care insurance? Medical expenses can significantly reduce retirement savings and are typically woefully prepared for. Just a few things to consider. |
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Posts: 1,606
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01-30-2018, 07:41 AM | #1668 | |
Fish are scared of me
Join Date: Nov 2001
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(KMTUY) Komatsu is another good one and actually outperforming CAT but it's a Japanese company so I'm not buying that. |
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Posts: 40,698
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01-30-2018, 08:50 AM | #1669 | |
MVP
Join Date: Mar 2004
Location: Helena, MT
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Posts: 18,622
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01-30-2018, 09:12 AM | #1670 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Posts: 57,771
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01-30-2018, 10:41 AM | #1671 | |
MVP
Join Date: Aug 2005
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Posts: 14,601
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01-30-2018, 10:59 AM | #1672 |
Andy Reid Supporter
Join Date: Apr 2012
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About to pay off our last student loan payment, which is 13.5k. Gonna be hella nice to have $284 extra a month and not have any debt aside from the mortgage.
Still not comfortable with my 6 month emergency fund. I am pretty close currently and after paying off this last bit of debt I’ll have enough left over for 3 months of emergency funds. Hope to get that up to 6 by Fall. |
Posts: 48,011
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01-30-2018, 11:05 AM | #1673 |
MVP
Join Date: Mar 2004
Location: Helena, MT
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Posts: 18,622
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01-30-2018, 11:59 AM | #1674 | |
In Search of a Life
Join Date: Jul 2009
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It sucks that it’s taxable but I’ll throw enough deductions out there to hopefully get it down. Luckily I haven’t signed anything yet |
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Posts: 82,528
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01-30-2018, 01:47 PM | #1675 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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You can come up with 40 grand of deductions?
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Posts: 57,771
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01-30-2018, 02:22 PM | #1676 |
In Search of a Life
Join Date: Jul 2009
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Posts: 82,528
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01-30-2018, 04:40 PM | #1677 | |
MVP
Join Date: Aug 2005
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Posts: 14,601
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01-30-2018, 04:54 PM | #1678 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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Sure, if you're able to see into the future, that's a great approach. In reality, almost everyone sucks at timing the market.
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Posts: 52,386
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01-30-2018, 05:50 PM | #1679 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Quote:
People talked about moving money and an impending correction around 20 in the Dow. People did move money. Here we sit at 26. Those people missed 30% gains. Timing the market in retirement accounts isn’t worth it. Decide on your allocation preference and rebalance 1-2x per year. |
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Posts: 46,097
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01-30-2018, 07:59 PM | #1680 | |
Veteran
Join Date: Sep 2011
Location: MO
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Quote:
This is good advice. Sent from my iPhone using Tapatalk |
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Posts: 1,528
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