WoV stock portfolio
Quote: odiousgambitthe market can't seem to find the bottom
I've gone from cautiously buying some etfs I wanted to where I'm stepping it up. Cautiously might still be the right word, and I expect to hold anything I'm buying for over 5 years. So I'm not predicting the bottom , but the risk of still being in the toilet from more than 5 years I feel is low
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So when to buy?
when the market is up 5% from the bloodbath low?
at first you buy perhaps cautiously, start now
if the market keeps going down, you keep buying
if the market keeps going down, you keep buying
if the market keeps going down, you keep buying
etc,etc
this method can only fail to succeed if the bottom is never found, assuming you don't run out of money. That is a matter of being able to believe reasonable behavior in the market vis a vis the money you have to spend. Yes, right now is challenging, for instance I'm thinking it won't go down 50% .
This has paid off in the past very well. If this time is an exception I'll have to eat crow
nonetheless I always find it quite harrowing to go through this. Who can fail to notice what a huge chunk of $$$ has vanished from the portfolio? At my age it's not impossible that it will never get back to where it was in my lifetime.
I predict the opposite, that the buying I'm doing now will make me smile soon enough. But there are no guarantees
Why would the market crash after tariffs come into effect, when we knew about the tariffs for a long time?
It almost seems as if some very large players, who do not like the tariffs for their own reasons, are trying to make the US public not like them too.
My favorite brand of shirt is made in Vietnam. The company moved there from China as a result of the anti-Chinese tone of the last few administrations. Textiles from Vietnam are now subject to a 46% tariff. My shirts retail for $69-$89 a pop, but I buy when they have their quarterly sales, so I pay about $50. Most high-end American shirtmakers don't go after the XXL+ market.
My knockaround shirts come from JCPenney and are made in Jordan. My Jeans are HB(?) and made in Pakistan.
Happiest phrase in the world-- "And this too shall pass." It's a good time to load up on brown pants.
In easy to understand terms, it’s down around 13% from its peak.
Rice and beans tonight.
Quote: billryanIt seems the people thought someone would rein in the man and not kick off a global trade war just as the world was recovering from COVID-19.
My favorite brand of shirt is made in Vietnam. The company moved there from China as a result of the anti-Chinese tone of the last few administrations. Textiles from Vietnam are now subject to a 46% tariff. My shirts retail for $69-$89 a pop, but I buy when they have their quarterly sales, so I pay about $50. Most high-end American shirtmakers don't go after the XXL+ market.
My knockaround shirts come from JCPenney and are made in Jordan. My Jeans are HB(?) and made in Pakistan.
Happiest phrase in the world-- "And this too shall pass." It's a good time to load up on brown pants.
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I don't see it as a trade war, but an opportunity for a trade detente. As you saw on the chart, the tariffs the US is levying are in all cases equal to or less than the tariffs and comparable restrictions levied on the US that we've been paying all along, in those unusual cases where we actually manufacture and export something. Being those other countries are a lot more dependent on export they will have to negotiate before we do. Negotiation is only available to those who have war as an alternative, in all cases, and unconditional surrender is demanded of those who do not. We had training on this in the schoolyard.
Best place for large & long shirts now is Cabela's/Bass Pro. Excellent quality and selection, and I find them to be quite a bit less expensive and more demographically appropriate than DXL.
the U.S. exported $3.05 Trillion in goods and services in 2023
the goods and services deficit was $773.4 Billion in 2023
top export destinations - Canada, Mexico, China, Germany and Japan
top exports - Crude Petroleum, Refined Petroleum, Petroleum Gas, Gas Turbines and Cars
the U.S. stands as a major global exporter ranking 2nd only to China whose population is more than 4 times as large as that of the U.S.
U.S. exports represent about 10% of our Gross Domestic Product
.
https://www.statista.com/topics/1715/us-export/#topicOverview
https://www.google.com/search?q=what+is+the+value+of+all+u.s.+exports&oq=what+is+the+value+of+all+u.s.+exports&aqs=chrome..69i57j0i22i30j0i390i512i650l3j0i546i649j0i512i546j0i751l2.9064j1j15&sourceid=chrome&ie=UTF-8&sei=QTzwZ72OH8mo5NoPzP222A0
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Quote: lilredrooster.
the U.S. exported $3.05 Trillion in goods and services in 2023
the goods and services deficit was $773.4 Billion in 2023
top export destinations - Canada, Mexico, China, Germany and Japan
top exports - Crude Petroleum, Refined Petroleum, Petroleum Gas, Gas Turbines and Cars
the U.S. stands as a major global exporter ranking 2nd only to China whose population is more than 4 times as large as that of the U.S.
U.S. exports represent about 10% of our Gross Domestic Product
.
https://www.statista.com/topics/1715/us-export/#topicOverview
https://www.google.com/search?q=what+is+the+value+of+all+u.s.+exports&oq=what+is+the+value+of+all+u.s.+exports&aqs=chrome..69i57j0i22i30j0i390i512i650l3j0i546i649j0i512i546j0i751l2.9064j1j15&sourceid=chrome&ie=UTF-8&sei=QTzwZ72OH8mo5NoPzP222A0
.
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How does one export services?
Commodities (energy, food) are in a different category than manufactured goods, as there is no "Made in USA" label on a grain of corn or a gallon of oil and what ends up in a pipeline or storage facility could have come from anywhere and is often commingled with things that came from everywhere. Gold is a commodity and if I buy a bar of that, it may have been tested and stamped and whatever else they do to it in Switzerland but the gold itself came from the natural deposits of many countries.
I shouldn't have included service exports in the post which includes products or activities that are not physical goods such as consulting, education or banking from one country to another
taking out the services exports the U.S. exported $2.06 Trillion worth of goods in 2023 - a new record - again, the U.S. is the 2nd largest exporter of goods in the world behind China
AI overview:
https://www.google.com/search?q=what+amount+of+u.s.+goods+are+exported&oq=what+amount+of+u.s.+goods+are+exported&aqs=chrome..69i57j0i22i30j0i390i512i650l3j0i512i546j0i751j0i512i546l3.7736j1j15&sourceid=chrome&ie=UTF-8
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Quote: odiousgambituse the 'dollar cost averaging' method
at first you buy perhaps cautiously, start now
if the market keeps going down, you keep buying
if the market keeps going down, you keep buying
if the market keeps going down, you keep buying
etc,etc
this method can only fail to succeed if the bottom is never found, assuming you don't run out of money. That is a matter of being able to believe reasonable behavior in the market vis a vis the money you have to spend. Yes, right now is challenging, for instance I'm thinking it won't go down 50% .
This has paid off in the past very well. If this time is an exception I'll have to eat crow
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That's catching a falling knife.
Also, when's the 2nd and subsequent buys? every 5% drop? 10% drop?
Quote: 100xOddsQuote: odiousgambituse the 'dollar cost averaging' method
at first you buy perhaps cautiously, start now
if the market keeps going down, you keep buying
if the market keeps going down, you keep buying
if the market keeps going down, you keep buying
etc,etc
this method can only fail to succeed if the bottom is never found, assuming you don't run out of money. That is a matter of being able to believe reasonable behavior in the market vis a vis the money you have to spend. Yes, right now is challenging, for instance I'm thinking it won't go down 50% .
This has paid off in the past very well. If this time is an exception I'll have to eat crow
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That's catching a falling knife.
Also, when's the 2nd and subsequent buy? every 5% drop? 10% drop?
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You should be investing regularly, regardless of how the market is doing at the moment. You are investing long-term. Invest your $50 or $500 every paycheck and in the end you'll be fine.
In the midst of this kind of extreme market volatility of uncertain duration and indeterminate scope: Don’t just do something; sit there.Quote: SOOPOORice and beans tonight.
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Warren Buffett defended his massive $300 billion cash pile in February. Now he doesn't have to.
I may have a little bit less capital involved than Berkshire/Buffet’s accounts, but since beginning a slow gradual defensive rebalance about a year ago, in anticipation of what I believed to be an inevitable liquidity contraction (essential bubble deflation after massive unsustainable Fed fiscal meth injection & virus-welfare schemes with money flows boosting ludicrous meme trash & assorted scammy spec crap) I’ve gotten my brokerage positions to the point that I’m over 56% in securities that are functional equivalents of hoarding (moderately income producing) cash, through ETFs specializing in holding highly liquid CLOs (collateralized loan obligations) in ultra short-term debt instruments with first dibs on real assets at the top of the food chain, with near zero default or duration risk. Including those I’ve mentioned here before as cash ‘parking places’ in FLOT, FLRN, FLTR, as well as others (listed in no particular order) such as JAAA, JPST, MINT, VNLA, VRIG. Doing so came at the opportunity cost of not fully benefiting from the last bit of the final leg of the peak of the tidal money supply flow. And I’m good with that. Because the business cycle has not been repealed; nor has gravity.
I look forward to cashing out of those 5-6% yielding parking place instruments during another great buying opportunity for equities, perhaps as potentially rewarding as "we're all gonna die!" in March 2020 (S&P-500 touched 2488), if maybe not quite as spectacular of a value as the “OMFG the world is ending today!” of March 2009 (S&P-500 at 666), with LVS (Las Vegas Sands) for example briefly trading at $1.50/share because “casino bidness doomed!” For my 43% remaining in a variety of equities, I am vigorously doing nothing. Sell low is not the plan. I’m sure y’all will be gratified to know that I’m warm, comfy, and serenely confident that the time to (somewhat less gradually) begin my buying binge will be coming. But this is not that time. Because the sky is falling! And surely ChumpChange will soon have a YouTube about the imminent apocalypse! Doom approaches! But hasn’t arrived.
Don’t just do something; sit there.
EDIT to add:
^But in general I think that's very good advice, a sound plan. Better for most than what I choose to do.Quote: billryan...<SNIP>...
You should be investing regularly, regardless of how the market is doing at the moment. You are investing long-term. Invest your $50 or $500 every paycheck and in the end you'll be fine.
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I've been able to grab it on the handle end so far, but I admitted this time I might have to eat crow. So that's my defense for anyone saying I'm not qualified to give adviceQuote: 100xOddsQuote: odiousgambituse the 'dollar cost averaging' method ...
That's catching a falling knife.
generally I use 5%Quote:Also, when's the 2nd and subsequent buy? every 5% drop? 10% drop?
For further disclaimer, you should only be buying in these conditions if you need to rebalance. Thinking of this as a market timing opportunity is all wrong. Furthermore, in spite of the dramatic decline in a short period of time, the market hasn't gone down enough to get all that excited about buying rebalancing. The S&P 500 has gone back to where it was in February of last year, and using the 1 yr history chart google finance provides, that says the 500 is down 2.5% for the one year period ... my rebalancing has been modest so far.
Further-furthermore, Bill Ryan is right to say that the dollar-cost averaging is more properly explained as buying on a regular basis rather than what I'm describing ... obviously cost-averaging of that type is for people such as those using earned income in retirement programs etc. I'm borrowing the idea for a rebalancing method, which maybe an expert would want to criticize. Drawing Dead is not wrong either to say what he did, I would say that he is speaking to someone who doesn't need to rebalance is all .
Lastly, you have to realize I am plagued with having been too conservative with my investing. I look back at when I started and in all my heavy investing periods and go, wow, I bought too much in balanced funds and bonds then, I should have just bought stocks primarily. The need to rebalance for me should be the opposite of what it actually is now
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Quote: SOOPOOWell I finally looked at it. I had made it to +199%. As I type this it’s +161%.
In easy to understand terms, it’s down around 13% from its peak.
Rice and beans tonight.
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Rice and beans for dinner, Dave Ramsey's favorite saying.
If the markets are down 10%-15% it just clearly shows that double zero roulette is the better play.
I'm not selling anything - I'm about 80% invested in the market - not buying either -
I keep telling myself "it will come back it always does"
but I can't shake the feeling that this time it's different for obvious reasons
selling during a downturn is just not my way
I am trying to resign myself to the fact that before this I was in good shape financially and that may no longer be the case
like many, I really have no idea what will happen - the uncertainty is what is so difficult to handle
.
Quote: lilredrooster.
I'm not selling anything - I'm about 80% invested in the market - not buying either -
I keep telling myself "it will come back it always does"
but I can't shake the feeling that this time it's different for obvious reasons
selling during a downturn is just not my way
I am trying to resign myself to the fact that before this I was in good shape financially and that may no longer be the case
like many, I really have no idea what will happen - the uncertainty is what is so difficult to handle
.
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I am looking at buying a few stocks, they just happen to be the same ones I was considering buying before the downturn. If they had value at $X I think they have more value at $X-20%
Quote: DRichQuote: SOOPOOWell I finally looked at it. I had made it to +199%. As I type this it’s +161%.
In easy to understand terms, it’s down around 13% from its peak.
Rice and beans tonight.
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Rice and beans for dinner, Dave Ramsey's favorite saying.
If the markets are down 10%-15% it just clearly shows that double zero roulette is the better play.
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If you like a stock enough to buy it at 50, you should love buying it at 40.
Why do people rush into Harbor Freight when they have a 20% off sale but flee when Wall Street goes on sale?
Quote: DRichQuote: lilredrooster.
I'm not selling anything - I'm about 80% invested in the market - not buying either -
I keep telling myself "it will come back it always does"
but I can't shake the feeling that this time it's different for obvious reasons
selling during a downturn is just not my way
I am trying to resign myself to the fact that before this I was in good shape financially and that may no longer be the case
like many, I really have no idea what will happen - the uncertainty is what is so difficult to handle
.
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I am looking at buying a few stocks, they just happen to be the same ones I was considering buying before the downturn. If they had value at $X I think they have more value at $X-20%
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Egg-xact-lee. Good stocks on sale make great investments. Shit stocks on sale make shit stocks on sale.
Quote: lilredrooster.
I'm not selling anything - I'm about 80% invested in the market - not buying either -
I keep telling myself "it will come back it always does"
but I can't shake the feeling that this time it's different for obvious reasons
selling during a downturn is just not my way
I am trying to resign myself to the fact that before this I was in good shape financially and that may no longer be the case
like many, I really have no idea what will happen - the uncertainty is what is so difficult to handle
.
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A perspicacious professional's perspective to ponder:
https://babylonbee.com/news/financial-advisor-announces-its-time-to-panic-urges-clients-to-make-hasty-emotional-decisions
Quote:"What are you doing sitting there?? Buy! Sell! Panic!"
Or perhaps he retweeted it.
Quote: billryanIt might have been Teddy Roosevelt who gave us the immortal words- When the going gets tough, the tough go shopping.
Or perhaps he retweeted it.
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Dow futures are down another 800pts this morning.
yeah, will spend a few $ this afternoon
edit:
Looked into my brokerage acct.
The reinvested quarterly dividends from my index fund i'm about to buy more of is almost the same as today's buy order.
So i am dollar cost averaging 4x per year.
lol
I wouldn't kick myself unless it was obvious you needed to rebalance, or just 'had too much in one stock' and should have diversifiedQuote: DRichI looked today and one of my individual investment stocks is down $45,000 from last year. No, I am not planning selling but I did consider selling last year but of course I didn't. I rarely sell stocks.
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stocks seem to be considering finding the bottom now
Quote: odiousgambitI wouldn't kick myself unless it was obvious you needed to rebalance, or just 'had too much in one stock' and should have diversifiedQuote: DRichI looked today and one of my individual investment stocks is down $45,000 from last year. No, I am not planning selling but I did consider selling last year but of course I didn't. I rarely sell stocks.
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stocks seem to be considering finding the bottom now
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Thanks, I am not concerned. I look at stocks like I do advantage gambling. You can win or lose in the short term but in the long term should be up.
Quote: odiousgambit
...
stocks seem to be considering finding the bottom now
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It's been compared to watching a bunch of little kids play soccer. They all run to where the ball is, wherever it goes, without much thought of where it is going to go next.
I was watching the overnight action, Asia and US futures, and people seem to be saying oh no, China markets getting hammered, US markets will too in the morning.
Well OK, someone hasn't been paying attention to the underlying conflict affecting the markets. Perhaps it is some very large concerns that are just as heavily invested in China as the US, doing what they can to roil the US market trying to intimidate the US into backing off of tariffs.
I am not a poker pro, but I do know the look of someone who is slamming his chips as an alternative to showing his cards, and last week's bear had that look.
But FWIW, I find it useful to memorialize my intentions on paper (or a durable arrangement of electrons like this) to inoculate myself from temptations in all directions, by making myself look at the plan and justify a rationale for a decision to deviate from or discard it. That said, besides determining (most importantly) my individual targets in detail for particular securities of interest to me, I have specific metrics in mind to watch for across the US equities market as a whole to tell me the bell has rung and its time for me to start stuffing my shopping cart at the super-value stock mega-discount liquidation store. With or without a $1.50 Kirkland hotdog at checkout.
I’m looking for something in the mid/low 4000s (so around 4350-ish) on the cap-weighted version of the widely followed headline grabbing investor ‘mood-ring’ of the S&P 500 index, and reaching the teens for the overall average trailing PE (price/earnings) ratio, rather than the current 20s multiple. I want to see many individual bank stocks get to, or slide under, 1.0x ‘book value’. And for a spike in the VIX* to exceed 60 on a washout reversal-day of extreme panic & margin-call forced selling. Because I am greedy.
[I also have some metrics that I won't try to get into here. Stuff I consider important involving the bond market, which is larger and more rigorously priced than stock trades. Not for buying bonds but as a broad indication for markets.]
Don’t do what I’m doing.
* An explanation of VIX for non-nerds
EDIT to add:
Good luck, I'll join you with an observation of my own investments.Quote: DrawingDeadDon’t do what I’m doing.
But FWIW, I find it useful to memorialize my intentions on paper (or a durable arrangement of electrons like this) to inoculate myself from temptations in all directions, by making myself look at the plan and justify a rationale for a decision to deviate from or discard it. ...
Don’t do what I’m doing.
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UK. investments have tracked the DOW down for a few days. All by about 11%. I did a little better at -6% by luck
Today we just opened up by about 1.7%, following Asia also opening up a little.
Record here that I think it's a dead cat bounce and that we'll soon be falling further. I'm not going to start topping up until I see another 5% drop from today's mini peak. Even such topping up will be modest. I'm not going 'all in' unless and until I see another 10% drop.
As to 'Dollar Cost Averaging' I see that as the Martingale of investors. It works only as long as the premise 'Markets always go up eventually' remains true.
Quote: OnceDear
As to 'Dollar Cost Averaging' I see that as the Martingale of investors.
It works only as long as the premise 'Markets always go up eventually' remains true.
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I agree with you if you have limited $ or investing in an individual stock.
But so às long as you have a job, you can dca every paycheck.
And most people use index funds in their 401k.
Hm.. another source of unlimited dca is reinvesting dividends.
And if the source of the dividends is the sp500, history has shown it always goes to up eventually
Thanks 100x.Quote: 100xOddsQuote: OnceDear
As to 'Dollar Cost Averaging' I see that as the Martingale of investors.
It works only as long as the premise 'Markets always go up eventually' remains true.
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I agree with you if you have limited $ or investing in an individual stock.
But so às long as you have a job, you can dca every paycheck.
And most people use index funds in their 401k.
Hm.. another source of unlimited dca is reinvesting dividends.
And if the source of the dividends is the sp500, history has shown it always goes to up eventually
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Note, I'm in the UK with slightly different rules. I also only have a 2 day 'hobby' job.
Our equivalent to your 401k is a mix between a 'workplace pension' and a SIPP ( Self Invested Pension Plan)
Workplace pension can be funded by up to about 85% of paycheck, tax free and SIPP can be funded up to £3600 per year from savings and is also tax free.
Just like martingale, DCA can neither add nor detract from EV in its own right. If it could we would all be double or treble DCA'ing. It works in a market which is trending up, but then so does lump sum investing. DCA eases volatility if done progressively.
Comparing regular investing with playing a martingale is ridiculous. One is a proven formula for success and the other is a proven strategy for failure.
the best thing about DCA is that it takes away the tendency to not invest at all because of being unsure about the market. If you had people first take cash in their 401ks and invest later as a second step, tons of people would build counterproductive piles of cashQuote: OnceDear[snip]
DCA can neither add nor detract from EV in its own right. If it could we would all be double or treble DCA'ing. It works in a market which is trending up, but then so does lump sum investing. DCA eases volatility if done progressively.
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same thing with rebalancing in a swooning market, to my taste. If I had sat around and waited until I thought the market was at the bottom, I probably would have bought nothing. DCA let's me take action without worrying about it
Are they generally subscribed through payroll?
Are they generally subscribed from pre-tax earnings? And then taxed at drawdown?
Can you hold cash in a 401k?
I assume dividends within the 401k are tax free?
Do holders generally just buy ready made funds within the 401K?
I assume you can use the 401k to buy an annuity, or can draw down by selling assets from it?
Is there anything equivalent to a UK SIPP, where non-earners can pay into a pension.
Does almost everyone take out a 401K?
Quote: OnceDearCould you guys tell me more about 401K's, please.
Are they generally subscribed through payroll?
YES
Are they generally subscribed from pre-tax earnings? And then taxed at drawdown?
YES
Can you hold cash in a 401k?
YES
I assume dividends within the 401k are tax free?
YES
Do holders generally just buy ready made funds within the 401K?
That is one option.
I assume you can use the 401k to buy an annuity, or can draw down by selling assets from it?
There are penalties for taking money out before your late 50s. Between the penalty and the taxes, you lose well over 40% so it's a poor option. There are a few exceptionsthat allow early withdrawal.
Is there anything equivalent to a UK SIPP, where non-earners can pay into a pension.
401K and IRAs have to be earned income
Does almost everyone take out a 401K?
No. The lower your income, the less likely to participate in these plans
401Ks are offered by for profit companies. Non-profit and government workers have similar plans. not all companies offer them, but anyone with earned income can open up an Individual Retirement Account that allows for tax-deferred retirement savings.
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Thank you.Quote: billryanQuote: OnceDearCould you guys tell me more about 401K's, please.
I assume you can use the 401k to buy an annuity, or can draw down by selling assets from it?
There are penalties for taking money out before your late 50s.
Is there anything equivalent to a UK SIPP, where non-earners can pay into a pension.
401K and IRAs have to be earned income
Does almost everyone take out a 401K?
No. The lower your income, the less likely to participate in these plans
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So, certain AP's that don't hold salaried jobs cannot get any tax benefits from pension savings?
FYI,
UK companies are now obliged to offer a defined contribution pension scheme under almost all circumstances. Many of those are pathetically minimal. I have colleagues of over 50 Years old who don't realise that when they retire, they will be stoney broke with maybe a couple of hundred pounds a month earned pension. Also, many don't realise the extent to which stock market turmoil can mess up their pension prospects.
Quote: OnceDearThank you.Quote: billryanQuote: OnceDearCould you guys tell me more about 401K's, please.
I assume you can use the 401k to buy an annuity, or can draw down by selling assets from it?
There are penalties for taking money out before your late 50s.
Is there anything equivalent to a UK SIPP, where non-earners can pay into a pension.
401K and IRAs have to be earned income
Does almost everyone take out a 401K?
No. The lower your income, the less likely to participate in these plans
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So, certain AP's that don't hold salaried jobs cannot get any tax benefits from pension savings?
FYI,
UK companies are now obliged to offer a defined contribution pension scheme under almost all circumstances. Many of those are pathetically minimal. I have colleagues of over 50 Years old who don't realise that when they retire, they will be stoney broke with maybe a couple of hundred pounds a month earned pension. Also, many don't realise the extent to which stock market turmoil can mess up their pension prospects.
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The tax code is convoluted, and it is possible for an AP to establish a business that pays him a regular salary. Establishing a limited liability corporation as a salaried employee wouldn't be difficult. That's why a good tax accountant is worth their weight in gold.
Quote: OnceDear
So, certain AP's that don't hold salaried jobs cannot get any tax benefits from pension savings?
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Not many companies in the US offer pensions anymore.
Most stop new hires from participating so in effect, employees under the pension system are grandfathered.
AP's can file as pro gambler.
He can put up to 25% pre tax into a self directed 401k, which acts just like a regular 401k .
He can also put $7k post tax into a Roth IRA as long as he has earned income of at least the same amount he's putting in there
I take it you mean they don't offer 'defined benefit schemes? That's the sort of pension larger UK companies used to offer. Here they switched to offering defined contribution schemes, which I believe are like your 401 schemes.Quote: 100xOddsQuote: OnceDear
So, certain AP's that don't hold salaried jobs cannot get any tax benefits from pension savings?
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Not many companies in the US offer pensions anymore.
Do federal employees and military still get old style defined benefit pensions? That's the case here.
I think I understand that you don't class a 401k as a pension, where here we would still tend to call it a pension scheme, albeit without defined benefits.Quote:
Most stop new hires from participating so in effect, employees under the pension system are grandfathered.
Thanks.Quote:
AP's can file as pro gambler.
He can put up to 25% pre tax into a self directed 401k, which acts just like a regular 401k .
He can also put $7k post tax into a Roth IRA as long as he has earned income of at least the same amount he's putting in there
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I'd guesstimate that 75% of Americans are underfunding their retirement and are going to be in for some unpleasant surprises.
Quote: billryanMost civil service jobs come with pensions, although not nearly as good as they used to be. NYPD used to offer 50% pensions after 20 years. Now, you can still retire after 20, but it takes an extra two years to get the 50% pension. Almost all government plans are now tiered, so someone who was hired fifteen years ago has a much better plan than today's hires. The Military is still 20 years for a half pay retirement.
I'd guesstimate that 75% of Americans are underfunding their retirement and are going to be in for some unpleasant surprises.
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Thanks. I'd guestimate >75% are massively underfunding. Same over here.
Quote: OnceDearQuote: billryanMost civil service jobs come with pensions, although not nearly as good as they used to be. NYPD used to offer 50% pensions after 20 years. Now, you can still retire after 20, but it takes an extra two years to get the 50% pension. Almost all government plans are now tiered, so someone who was hired fifteen years ago has a much better plan than today's hires. The Military is still 20 years for a half pay retirement.
I'd guesstimate that 75% of Americans are underfunding their retirement and are going to be in for some unpleasant surprises.
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Thanks. I'd guestimate >75% are massively underfunding. Same over here.
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Doesn't England have a govt social welfare program for old people for free?
in america, it's called Social Security but we put about 2% of our salaries in it. It's calculated on the 10 highest earning years.
Quote: 100xOddsQuote: OnceDearQuote: billryanMost civil service jobs come with pensions, although not nearly as good as they used to be. NYPD used to offer 50% pensions after 20 years. Now, you can still retire after 20, but it takes an extra two years to get the 50% pension. Almost all government plans are now tiered, so someone who was hired fifteen years ago has a much better plan than today's hires. The Military is still 20 years for a half pay retirement.
I'd guesstimate that 75% of Americans are underfunding their retirement and are going to be in for some unpleasant surprises.
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Thanks. I'd guestimate >75% are massively underfunding. Same over here.
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Doesn't England have a govt social welfare program for old people for free?
in america, it's called Social Security but we put about 2% of our salaries in it. It's calculated on the 10 highest earning years.
link to original post
Self-employed people pay over 15% in SS and Medicare taxes. Most people pay half, and their employer picks up the other half. There are income maxes where you stop paying after about $200,000 income each year.
Quote: billryanQuote: 100xOdds
Doesn't England have a govt social welfare program for old people for free?
in america, it's called Social Security but we put about 2% of our salaries in it. It's calculated on the 10 highest earning years.
link to original post
Self-employed people pay over 15% in SS and Medicare taxes. Most people pay half, and their employer picks up the other half. There are income maxes where you stop paying after about $200,000 income each year.
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Wait, I'm putting in 7.5% for ss + Medicare?!?
Glad it's taken from my paycheck before I get a chance to bring it home
Premarket down 2%.
Looks like I'm buying a little more this afternoon
Quote: 100xOddsQuote: billryanQuote: 100xOdds
Doesn't England have a govt social welfare program for old people for free?
in america, it's called Social Security but we put about 2% of our salaries in it. It's calculated on the 10 highest earning years.
link to original post
Self-employed people pay over 15% in SS and Medicare taxes. Most people pay half, and their employer picks up the other half. There are income maxes where you stop paying after about $200,000 income each year.
link to original post
Wait, I'm putting in 7.5% for ss + Medicare?!?
Glad it's taken from my paycheck before I get a chance to bring it home
link to original post
I think it's listed as "FICA".
Quote: DieterQuote: 100xOddsQuote: billryanQuote: 100xOdds
Doesn't England have a govt social welfare program for old people for free?
in america, it's called Social Security but we put about 2% of our salaries in it. It's calculated on the 10 highest earning years.
link to original post
Self-employed people pay over 15% in SS and Medicare taxes. Most people pay half, and their employer picks up the other half. There are income maxes where you stop paying after about $200,000 income each year.
link to original post
Wait, I'm putting in 7.5% for ss + Medicare?!?
Glad it's taken from my paycheck before I get a chance to bring it home
link to original post
I think it's listed as "FICA".
link to original post
yes but i thought it was around 2%.
in all my decades working, i never actually looked at the actual amount deducted on my paystub.
Quote: 100xOddsQuote: DieterQuote: 100xOddsQuote: billryanQuote: 100xOdds
Doesn't England have a govt social welfare program for old people for free?
in america, it's called Social Security but we put about 2% of our salaries in it. It's calculated on the 10 highest earning years.
link to original post
Self-employed people pay over 15% in SS and Medicare taxes. Most people pay half, and their employer picks up the other half. There are income maxes where you stop paying after about $200,000 income each year.
link to original post
Wait, I'm putting in 7.5% for ss + Medicare?!?
Glad it's taken from my paycheck before I get a chance to bring it home
link to original post
I think it's listed as "FICA".
link to original post
yes but i thought it was around 2%.
in all my decades working, i never actually looked at the actual amount deducted on my paystub.
link to original post
I just checked mine, around 6.3% between Social Security and Medicare. This seems about right.
https://www.irs.gov/taxtopics/tc751
