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crimycarny

(1,648 posts)

84. It is terrifying

Sun Nov 17, 2024, 12:23 PM

Nov 17

I wake up in the middle of the night and can’t go back to sleep as I feel a catastrophe coming on too. Trump will make the Housing Bubble crash seem like a cakewalk (those are my fears anyway).

I’m 65 and ready to retire soon, so can’t absorb that shock.

I, like you, hope I’m wrong. I’m in the same loss of hope though. And helpless, what can average people do against such depravity of those like Musk, Trump, etc to whom it will never be enough. No amount of power or money will ever be enough for people like that, and that always ends up badly.

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Farmer-Rick

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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