Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Personal Finance and Investing

question everything

(48,812 posts)

12. Thank you for a most interesting and detailed summary

Reply to progree (Reply #9)

Thu Mar 16, 2023, 10:50 PM

Mar 2023

In 1991 I volunteered at an AARP tax return preparations. So many of the seniors showed me their 1099 from their financial institutions where they held CDs and lamented the miserable interest.

We often hear about the bad luck of retiring when the market is down as it was last year. But if seniors and others were aggressive in building the "nest egg" than 20% loss from $10,000 hurts a lot more than 20% loss from $50,000.

Edit history

Please sign in to view edit histories.

19 replies

= new reply since forum marked as read

Highlight:

Do retirement accounts have any protections the way the FDIC does for bank accounts? [View all] question everything Mar 2023 OP

In stocks or bonds? Not a chance. mahatmakanejeeves Mar 2023 #1

Thanks question everything Mar 2023 #2

That's not quite right. SIPC insures (from institution failure) up to $500K. spooky3 Mar 2023 #5

Oh, sorry. Good point. mahatmakanejeeves Mar 2023 #7

Mine is in a FDIC insured CD CountAllVotes Mar 2023 #3

I have a Discover Savings IRA SheltieLover Mar 2023 #4

Yes, if your brokerage/mutual fund house is SIPC-insured, up to $500K. spooky3 Mar 2023 #6

Thanks. We did nothing in 1987, 2002 or 2008. Just rode it and the values recovered question everything Mar 2023 #8

In 87 I rode it out and recovered in a short time. multigraincracker Mar 2023 #18

Stock market "investing" is like going to a casino that's rigged in the house's favor blah blah progree Mar 2023 #9

Thank you for a most interesting and detailed summary question everything Mar 2023 #12

Oh, to answer your question, I'm not aware of anything that offers more protection to retirement progree Mar 2023 #10

Will be interesting if Vanguard will email the details. question everything Mar 2023 #13

Where wealthy investors are putting their cash after SVB collapse, CNBC progree Mar 2023 #11

Mindful of several ideas bucolic_frolic Mar 2023 #14

If only I could time the markets (or find someone who could), I would do so progree Mar 2023 #15

We've had this argument before bucolic_frolic Mar 2023 #16

Yes, I remember progree Mar 2023 #17

You are right. PoindexterOglethorpe Mar 2023 #19