I disagree with this. I am one of the older boomer, born in
1948, and I am buying even today. Luckily I went into this meltdown
with about 50% cash. I've been surprised by how much damage has
been done to my portfolio having had all this cash. But luckily I
had lots of dry powder to buy with. I've been investing in stocks
since 1981. I consider this one of the best opportunities of my
life time. I'm a Registered Investment Advisor in Napa, CA. Many of
my clients are boomers too. They feel just like I do, and they all
had the same amount of cash to work with. We are buyers!
They are all in bonds and annuities. I here so many good
and bad things about Annuities, can anyone shed some light on them?
Up front seems like a great long term play for the next
couple of years, if we are in fact a bear market now.
the main concern with them is if the bond market blew up.
Otherwise they should provide steady returns, but you give up
index potential returns i.e. typically 3% - 5% a year, and you are
locked in for 10 or 20 years with a typically 10% penalty if you
want to get out early that's steep
What do they normally pay % year? Some financial adviser
told me that they sell puts/calls and gain on the spreads?
She (the adviser) said they are very safe and sold by insurance
companies that are bonded by the Fed and not like financial
institutes that can blow up overnight and you get nothing back.
She mentioned "Lincoln Financial" as one of the better ones.
She said it pays 10% a year for some of their annuities.
Sounded all good but when i asked her what is my risk, she said
there wasn't (that was a little bit of a red flag for me as they is
always some risk when you are investing).
ssafferagain if you are old enough and don't mess with the
market, might be good. If you are a younger guy I'd advise
against.
I also know there are all sorts of them, some give set % gains,
while some allow you to participate in some market year gains, for
example if the SPX gained 30% one year, you might get 10%, so the
way they get their money is keeping the 20%.
I think one could do beat the market everything following the
daily SPX and using the DVT higher low stops.
again you are a super smart guy, I suggest going to one of them,
where they give you all the facts, then you can digest those facts
and make an informed decision. Again you are way above the general
population on market knowledge, so you will be able to decipher
what's good and what's bad - do that and report back here, because
I'm only relating some of what I've heard, I've never checked into
it that hard. I know almost all of them won't just give you the
info in an email or phone, they make you come in and give their
sales pitch to you in person. I'd be curious to see you report back
your findings and opinion after going to one of those guys and
talking with them.
Matt- Thank you for your detailed explanation. I will do
more research online, i hate going in to a place and having the
sales pitch. For now I will just stick with what I
know, I just like to cover all my angles when we might look in the
near future of a lot more companies going bust, bond market
blowing up and other things. I like to create a war
room scenario in my head and see if I missing anything.
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"The boomers, who hold most
Posted by stevieb294 on 19th of Mar 2020 at 01:37 pm
"The boomers, who hold most of the wealth, will stay away from the market for years as they remain haunted by the debacle of 2020"
https://wishingwealthblog.com/2020/03/after-huge-decline-market-does-not-snap-back-boomers-to-be-haunted-by-2020-debacle/?utm_source=rss&utm_medium=rss&utm_campaign=after-huge-decline-market-does-not-snap-back-boomers-to-be-haunted-by-2020-debacle
interesting thoughts
I disagree with this. I
Posted by pkrsek on 19th of Mar 2020 at 02:27 pm
I disagree with this. I am one of the older boomer, born in 1948, and I am buying even today. Luckily I went into this meltdown with about 50% cash. I've been surprised by how much damage has been done to my portfolio having had all this cash. But luckily I had lots of dry powder to buy with. I've been investing in stocks since 1981. I consider this one of the best opportunities of my life time. I'm a Registered Investment Advisor in Napa, CA. Many of my clients are boomers too. They feel just like I do, and they all had the same amount of cash to work with. We are buyers!
They are all in bonds
Posted by ssaffer on 19th of Mar 2020 at 01:55 pm
They are all in bonds and annuities. I here so many good and bad things about Annuities, can anyone shed some light on them? Up front seems like a great long term play for the next couple of years, if we are in fact a bear market now.
the main concern with them
Posted by matt on 19th of Mar 2020 at 01:56 pm
the main concern with them is if the bond market blew up. Otherwise they should provide steady returns, but you give up index potential returns i.e. typically 3% - 5% a year, and you are locked in for 10 or 20 years with a typically 10% penalty if you want to get out early that's steep
What do they normally pay
Posted by ssaffer on 19th of Mar 2020 at 02:03 pm
What do they normally pay % year? Some financial adviser told me that they sell puts/calls and gain on the spreads? She (the adviser) said they are very safe and sold by insurance companies that are bonded by the Fed and not like financial institutes that can blow up overnight and you get nothing back. She mentioned "Lincoln Financial" as one of the better ones. She said it pays 10% a year for some of their annuities. Sounded all good but when i asked her what is my risk, she said there wasn't (that was a little bit of a red flag for me as they is always some risk when you are investing).
ssaffer again if you are old
Posted by matt on 19th of Mar 2020 at 02:09 pm
ssaffer again if you are old enough and don't mess with the market, might be good. If you are a younger guy I'd advise against.
I also know there are all sorts of them, some give set % gains, while some allow you to participate in some market year gains, for example if the SPX gained 30% one year, you might get 10%, so the way they get their money is keeping the 20%.
I think one could do beat the market everything following the daily SPX and using the DVT higher low stops.
again you are a super smart guy, I suggest going to one of them, where they give you all the facts, then you can digest those facts and make an informed decision. Again you are way above the general population on market knowledge, so you will be able to decipher what's good and what's bad - do that and report back here, because I'm only relating some of what I've heard, I've never checked into it that hard. I know almost all of them won't just give you the info in an email or phone, they make you come in and give their sales pitch to you in person. I'd be curious to see you report back your findings and opinion after going to one of those guys and talking with them.
Matt- Thank you for your
Posted by ssaffer on 19th of Mar 2020 at 02:17 pm
Matt- Thank you for your detailed explanation. I will do more research online, i hate going in to a place and having the sales pitch. For now I will just stick with what I know, I just like to cover all my angles when we might look in the near future of a lot more companies going bust, bond market blowing up and other things. I like to create a war room scenario in my head and see if I missing anything.