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Chakaconcarne

(2,732 posts)

12. We have the biden economy, continued price gouging

Reply to Crowman2009 (Original post)

Thu Nov 14, 2024, 04:15 PM

Nov 14

followed by looming corp. tax cuts. the markets are going to take off and the rich want to capitalize on it. I'm giving it a year before I seriously consider.

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flamingdem

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Anyone else transferring their 401(k) funds to low-risk investments? [View all] Crowman2009 Nov 14 OP

I am but I'm also going to be 64 Sundance1220 Nov 14 #1

I hope you have met with a financial advisor. You need to maintain a diversified portfolio throughout your retirement beaglelover Nov 14 #21

Yes, I have A LOT Sundance1220 Nov 14 #29

if you're young enough, this could be an opportunity to buy low... cadoman Nov 17 #88

No way! Johnny2X2X Nov 14 #2

Why do you say this? AllyCat Nov 14 #27

The economy is crushing it right now Johnny2X2X Nov 14 #47

Thank you for the explanation. AllyCat Nov 14 #58

Plus tRump is inheriting Biden's economy bif Nov 15 #62

Agree Johnny2X2X Nov 15 #64

Can you elaborate on other ways to reduce risk? flamingdem Nov 16 #77

"they will be gradually brought in." ... says who? Trump who can unliterally up them to whatever at any time? Also, even uponit7771 Nov 16 #78

Dumpy Trumpy wants to close down the Federal Reserve Farmer-Rick Nov 16 #67

Yes, I'm also trying to figure out... Think. Again. Nov 14 #3

Ketchup n/t Submariner Nov 14 #6

What in the age of Trump is low risk? I have doc03 Nov 14 #4

My husband moved ours to a higher risk category a little while ago Wingus Dingus Nov 14 #5

Check out the Bond market. n/t Raven Nov 14 #7

I wouldn't yet. I'd wait on that. kerry-is-my-prez Nov 14 #60

Why? Raven Nov 15 #65

I am but I am not sure what is considered low risk. Dwild Nov 14 #8

Right now they are advising Johonny Nov 14 #36

MDB mobeau69 Nov 17 #83

No longer have a 401k, but yes I transferred a lot of money, Emile Nov 14 #9

Not presently. We still have about a year of the Biden recovery before Trump nukes it. Gore1FL Nov 14 #10

Thanks for that reminder flamingdem Nov 14 #15

The market did well in 2017, stagnated in 2018, and recovered, even after the pandemic in 2020 onenote Nov 14 #23

Won't trump's wet-dream tariffs hit businesses and consumers hard enough to slow the economy right away? nt albacore Nov 14 #40

Tariffs can nuke it the first month, no one know what Benedict Donald is going to do uponit7771 Nov 16 #79

Why would anyone reduce their retirement savings? nt LexVegas Nov 14 #11

We have the biden economy, continued price gouging Chakaconcarne Nov 14 #12

I'm considering moving some money out of the country, but I don't know how to. Scrivener7 Nov 14 #13

If I figure it out leighbythesea2 Nov 14 #22

Please do! I'll do the same. Scrivener7 Nov 14 #44

Yes! leighbythesea2 Nov 15 #66

Leighbythesea2, did you see the posts from albacore below? This seems like something Scrivener7 Nov 14 #52

We invested in Canadian CDs...banks are more solid than ours. But trump is a world-economy-killer. Nt albacore Nov 14 #41

Did you do that through a US institution? Scrivener7 Nov 14 #45

We carried the money up North in a check. If you move money to Canada, be sure to fill out a FinCen form. albacore Nov 14 #46

This is SO helpful! Thank you so much! Scrivener7 Nov 14 #48

Do you mind if I ask what bank or investment house you used in Canada? Scrivener7 Nov 14 #49

Scotiabank.. nt albacore Nov 14 #50

Thank you!!! Scrivener7 Nov 14 #51

I don't know what the rules are today, but I did it decades ago on a small basis DFW Nov 16 #69

Thank you so much. Scrivener7 Nov 16 #71

Timing the market is a fool's choice. Better to slowly make changes if at all especially if young Wonder Why Nov 14 #14

hell no, not right now Skittles Nov 14 #16

From my financial advisor--take it for what it's worth crimycarny Nov 14 #17

Looks like none of those advisors Farmer-Rick Nov 16 #68

If Trump abolishes the FDIC crimycarny Nov 16 #72

But there be stupid crazy people running our country now Farmer-Rick Nov 17 #82

It is terrifying crimycarny Nov 17 #84

Anyone getting investment advice from actual professionals not someone on an internet message board onenote Nov 14 #18

Yes, absolutely. It's important to hire a financial advisor a few years before you retire to make sure all of your beaglelover Nov 14 #20

It's not rocket cilla4progress Nov 14 #28

Absolutely NOT! And I'll continue to save up to the IRS maximums each year. Next year the catch up limit for my age is beaglelover Nov 14 #19

Folks said the same thing about George W Bush in 2000 Yavin4 Nov 14 #25

Did that starting the day after election day. Yavin4 Nov 14 #24

I'm considering all cash also. Think. Again. Nov 14 #30

Each day with these cabinet picks, the odds of some kind of epic catastrophe go up. Yavin4 Nov 14 #34

I agree, We're not the only ones who would rather cash out and wait it out.... Think. Again. Nov 14 #35

One of the finalists for Secy of the Treasury, Scott Bessent Yavin4 Nov 14 #39

Do you think Money markets thinkingagain Nov 17 #86

No. They're not. But if they go... Yavin4 Nov 17 #87

I did. cilla4progress Nov 14 #26

Not yet. Too early. paleotn Nov 14 #31

Well now that you mentioned it, I'll still contribute my 401(k)'s max anount. Crowman2009 Nov 17 #85

We're planning on doing that as well Bettie Nov 14 #32

Contemplating how long to ride the Kool aid...but risky still JT45242 Nov 14 #33

I'll stay in the stock market LogDog75 Nov 14 #37

What is a low risk investment Tweedy Nov 14 #38

Most of my stuff is in 6 month CDs....4.35% APR. I can pull the money out almost anytime. Is that a good idea? NT albacore Nov 14 #42

I wouldn't put all my money in CDs LogDog75 Nov 14 #43

Always have always will Klarkashton Nov 14 #53

I'm young enough to recover drmeow Nov 14 #54

Absolutely not! Groundhawg Nov 14 #55

Yes bullimiami Nov 14 #56

I thought we were all supposed to sell everything after the 2016 election ? MichMan Nov 14 #57

I've had most in a money market fund, a little in a mutual fund kerry-is-my-prez Nov 14 #59

Probably going to move 1/3 of my money to a MMF bif Nov 15 #61

Just FYI, i did that in 2016 and missed out on a good bit of Scrivener7 Nov 15 #63

Thinking of paying off my mortgage shanti Nov 16 #70

Just put it in Index funds like VOO and leave it there. nt Quixote1818 Nov 16 #73

This message was self-deleted by its author KewlKat Nov 16 #74

I don't think so! Crowman2009 Nov 16 #75

LOL Skittles Nov 16 #76

I've been 66/33 stocks/bonds since 2022 but am slowly rebalancing back to 60/38. Shermann Nov 16 #80

Yes. Mainly because of my age (55). texasfiddler Nov 16 #81

I'm waiting on some treasury nominations, but slowly moving away from stocks. carpetbagger Nov 17 #89