Ed Mack Posted March 9, 2020 Share Posted March 9, 2020 Just now, $20 on joe vs dan said: It's a crummy time to be 70+, retired, and watching your 401K tank If you are 70 years old and have your money in the stock market, that's on you. I have heard this story dozens of time in my 50 plus years every time there is a market decline. 1 Link to comment Share on other sites More sharing options...
Brystheguy Posted March 9, 2020 Share Posted March 9, 2020 7 minutes ago, $20 on joe vs dan said: It's a crummy time to be 70+, retired, and watching your 401K tank Noone who is 70 and retired should have their money sitting where it takes a large tumble like the last week and today. That's Retirement 101. 1 Link to comment Share on other sites More sharing options...
$20 on joe vs dan Posted March 9, 2020 Share Posted March 9, 2020 3 minutes ago, Ed Mack said: If you are 70 years old and have your money in the stock market, that's on you. I have heard this story dozens of time in my 50 plus years every time there is a market decline. it affects everyone to some extent: when the economic environment does not favor retirement then folks defer retirement a few years or they go back to work; which means less opportunities for new workers...so college grads find it hard to find work ( boomerang kids)...I predict a glut in Uber/Lyft drivers (but w/ less folks traveling due to pandemic concerns) there is a lot less travel pie for more mouths...driving is no longer profitable and now there's more folks trying to find jobs and then a sudden spike in unemployment...A Republican President will pass a short-sighted $500 cash economy infusion bill... Link to comment Share on other sites More sharing options...
Ed Mack Posted March 9, 2020 Share Posted March 9, 2020 1 minute ago, $20 on joe vs dan said: it affects everyone to some extent: when the economic environment does not favor retirement then folks defer retirement a few years or they go back to work; which means less opportunities for new workers...so college grads find it hard to find work ( boomerang kids)...I predict a glut in Uber/Lyft drivers (but w/ less folks traveling due to pandemic concerns) there is a lot less travel pie for more mouths...driving is no longer profitable and now there's more folks trying to find jobs and then a sudden spike in unemployment...A Republican President will pass a short-sighted $500 cash economy infusion bill... Sure it does. It really sucks. Trillions were lost in the past few weeks. But it has happened before and will happen again. People should not have the majority of their retirement savings in the stock market. Period. It will bounce back though. It always does. Everyone is so hyper focused on the stock market and I get it., nobody likes to lose money. Some people are making money off of fear, and those are the loudest voices on the internet. Let's see what happens in a few months. I heard this morning that Chinese factories were back up to 50-75% capacity, which is way better than 30-40% from a month ago. So the supply chain problem will correct itself. I really don't want to make this political, but at the end of the day, it is. It is a serious issue, but there are very few people out there telling the truth. It's all spin. One side says it's no big deal and the other side says it's the end of the world. The truth is somewhere in between. It will get worse over the next few weeks as more tests go out. This is certain. But once people realize there are already thousands of infected people in the US and they are not dropping dead or in hospitals, things will start to calm down. I'm keeping my fingers crossed. By the way...Staples has plenty of toilet paper. 1 Link to comment Share on other sites More sharing options...
NIevo Posted March 9, 2020 Share Posted March 9, 2020 Never said it wasd the flu, said it should be treated as such and isnt any bigger of a deal. BTW....flu deaths in the USA just passed 20k for this season yet everyone isnt freaking out about that. 2 Link to comment Share on other sites More sharing options...
spener90 Posted March 9, 2020 Share Posted March 9, 2020 9 minutes ago, Ed Mack said: Sure it does. It really sucks. Trillions were lost in the past few weeks. But it has happened before and will happen again. People should not have the majority of their retirement savings in the stock market. Period. It will bounce back though. It always does. Everyone is so hyper focused on the stock market and I get it., nobody likes to lose money. Some people are making money off of fear, and those are the loudest voices on the internet. Let's see what happens in a few months. I heard this morning that Chinese factories were back up to 50-75% capacity, which is way better than 30-40% from a month ago. So the supply chain problem will correct itself. I really don't want to make this political, but at the end of the day, it is. It is a serious issue, but there are very few people out there telling the truth. It's all spin. One side says it's no big deal and the other side says it's the end of the world. The truth is somewhere in between. It will get worse over the next few weeks as more tests go out. This is certain. But once people realize there are already thousands of infected people in the US and they are not dropping dead or in hospitals, things will start to calm down. I'm keeping my fingers crossed. By the way...Staples has plenty of toilet paper. The voice of rationality. Thank you. Link to comment Share on other sites More sharing options...
NIevo Posted March 9, 2020 Share Posted March 9, 2020 1 hour ago, brickolodon said: I see LEGO sales down 70% from last month, that’s not a good sign... Then your doing something wrong or different. My sales are flat or slightly up. Link to comment Share on other sites More sharing options...
brickolodon Posted March 9, 2020 Share Posted March 9, 2020 Then your doing something wrong or different. My sales are flat or slightly up. Oh thanks god it’s just me! I thinks may be rest of the world... Link to comment Share on other sites More sharing options...
elmaslıefendi Posted March 9, 2020 Share Posted March 9, 2020 LEGO isn't exactly the best thing to have your money in right now. Link to comment Share on other sites More sharing options...
NIevo Posted March 9, 2020 Share Posted March 9, 2020 (edited) 4 minutes ago, elmaslıefendi said: LEGO isn't exactly the best thing to have your money in right now. Some might argue against that, me being one. Purchasing is cheap right now and with the fear to go out either on vacation or simply shopping people are going to be buying more online and spending more time at home.......building LEGO'S. Besides, what else would be a good investment right now? Everything else is to volital or uncertain. Edited March 9, 2020 by NIevo Link to comment Share on other sites More sharing options...
marcandre Posted March 9, 2020 Share Posted March 9, 2020 4 minutes ago, elmaslıefendi said: LEGO isn't exactly the best thing to have your money in right now. Neither is the stock market... 1 Link to comment Share on other sites More sharing options...
brickolodon Posted March 9, 2020 Share Posted March 9, 2020 Neither is the stock market... So no money no worries, the best way! Even gold prices flat these days Link to comment Share on other sites More sharing options...
marcandre Posted March 9, 2020 Share Posted March 9, 2020 1 minute ago, brickolodon said: So no money no worries, the best way! In the mattress baby! Link to comment Share on other sites More sharing options...
elmaslıefendi Posted March 9, 2020 Share Posted March 9, 2020 3 minutes ago, marcandre said: Neither is the stock market... Not defending stocks. But Gold and Silver are (imo) the single safe way to protect yourself. LEGO is a premium plastic product, it only has a sentimental value. Link to comment Share on other sites More sharing options...
exciter1 Posted March 9, 2020 Share Posted March 9, 2020 10 minutes ago, elmaslıefendi said: LEGO isn't exactly the best thing to have your money in right now. Half off and dual purpose! https://www.lego.com/en-us/product/emmet-mask-853872 1 1 Link to comment Share on other sites More sharing options...
elmaslıefendi Posted March 9, 2020 Share Posted March 9, 2020 6 minutes ago, NIevo said: Some might argue against that, me being one. Purchasing is cheap right now and with the fear to go out either on vacation or simply shopping people are going to be buying more online and spending more time at home.......building LEGO'S. Besides, what else would be a good investment right now? Everything else is to volital or uncertain. The problem is that a $200 set is still $200 while your dollar is heavily losing its value & gold/oil/silver etc. will gain value. It's not that LEGO becomes worthless, it's the rotten paper money that's worth nothing. Link to comment Share on other sites More sharing options...
elmaslıefendi Posted March 9, 2020 Share Posted March 9, 2020 1 minute ago, exciter1 said: Half off and dual purpose! https://www.lego.com/en-us/product/emmet-mask-853872 I guess that's the deal of the year, some freak will scoop up 99 & try to flip them later on I bet lol Link to comment Share on other sites More sharing options...
$20 on joe vs dan Posted March 9, 2020 Share Posted March 9, 2020 2 minutes ago, elmaslıefendi said: The problem is that a $200 set is still $200 while your dollar is heavily losing its value & gold/oil/silver etc. will gain value. It's not that LEGO becomes worthless, it's the rotten paper money that's worth nothing. when I looked into gold investing (about a year ago) it looked like there's a significant transaction cost (either buying or selling)..I think 5-7%+...almost like real estate in that when the selling is good...lots of obstacles 5 minutes ago, exciter1 said: Half off and dual purpose! https://www.lego.com/en-us/product/emmet-mask-853872 Probably will work better than a N95 1 Link to comment Share on other sites More sharing options...
$20 on joe vs dan Posted March 9, 2020 Share Posted March 9, 2020 I'm thinking of a pandemic-proof summer trip sinc eit's nearly spring time and most households w/ kids have to schedule summer camps which mean planning out the whole summer That said...I think camping or RV-ing road trips to national parks is the best option...kinda like a moving self quarantine for the family..we control our exposures and take advantage of low gas prices Link to comment Share on other sites More sharing options...
elmaslıefendi Posted March 9, 2020 Share Posted March 9, 2020 (edited) Just like the common flu, 99,9% of the corona viruses are killed instantly by UV light, so maybe the spring will be our savior. Some experts even say the virus will "disappear" this summer only to hit again a few months later in early September. I guess we'll have to wait and see, no one can really predict the next year. More cases & deaths and a worsening economic situation in the next month are pretty certain though. Edited March 9, 2020 by elmaslıefendi Link to comment Share on other sites More sharing options...
Ed Mack Posted March 9, 2020 Share Posted March 9, 2020 42 minutes ago, elmaslıefendi said: LEGO isn't exactly the best thing to have your money in right now. LOL..Quite the opposite actually. I think if schools start to close (...and some will), parents are going to be investing in any item that can keep their kids occupied. LEGO sets are educational, fun and time consuming. Link to comment Share on other sites More sharing options...
elmaslıefendi Posted March 9, 2020 Share Posted March 9, 2020 19 minutes ago, Ed Mack said: LOL..Quite the opposite actually. I think if schools start to close (...and some will), parents are going to be investing in any item that can keep their kids occupied. LEGO sets are educational, fun and time consuming. I'm not denying that. I have to repeat myself: just saying that the money we get won't be the same if gold keeps climbing. Other than that, it's surely solid for the reason you stated. Link to comment Share on other sites More sharing options...
KvHulk Posted March 9, 2020 Share Posted March 9, 2020 <dismissive tough guy comment placeholder> Link to comment Share on other sites More sharing options...
Pseudoty Posted March 9, 2020 Share Posted March 9, 2020 1 hour ago, NIevo said: Never said it wasd the flu, said it should be treated as such and isnt any bigger of a deal. BTW....flu deaths in the USA just passed 20k for this season yet everyone isnt freaking out about that. https://aspe.hhs.gov/cdc-—-influenza-deaths-request-correction-rfc Link to comment Share on other sites More sharing options...
Darth_Raichu Posted March 9, 2020 Share Posted March 9, 2020 8 minutes ago, Pseudoty said: https://aspe.hhs.gov/cdc-—-influenza-deaths-request-correction-rfc I was wondering about this when looking at the number of flu associated deaths on CDC website the other day. Was there any relation between this obfuscation and the big push for influenza vaccination several years back ? 🤔 Link to comment Share on other sites More sharing options...
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