How's that retirement penson going?

[Tommy T.]

44 minutes ago, Old55 said:

Good news is perhaps it's time to buy?

 

Yeah... My tongue is bleeding now from biting it so much!!!

Could be... I am biding my time. I, fortunately, sold off a number of investments a few weeks ago in order to provide payments for the home build. I am so glad I did that - one of the first (and only) times in my life when I timed the market well, and totally by accident really.

So I see my remaining investments staggering right now. Just buck up and wait is all I can think to do. I am not so sure it is yet the time to start to buy in again. Nobody knows, right? But, if I had some spare cash right now (which I do not) I would seriously consider buying back in again. It may all drop more, but it is already huge drops in the past two weeks.

Poor Boeing was suffering from the 737 software debacle.... and now this virus has whacked it again in the face... Please let me know how it goes with you? PM me if appropriate...?

Edited March 10, 2020 by Tommy T.

[Mike J]

Still not looking. 

[stevewool]

10 hours ago, Mike J said:

Still not looking. 

Neither am I, what can I do if they have crashed anyway, as long as there is enough in there to last me until my state pension kicks in I will be happy as that is part of our future plans .

[Arizona Kid]

On 3/7/2020 at 5:25 PM, manofthecoldland said:

Are you referring to the expected rate of return on state sponsored pension benefit funds?

If you were able to get into a state government defined benefit pension program years ago before they started shifting by steps into defined contribution plans, that's very good. I was. 

But the rate of increase on your personal benefit is based on a COLA computation year-to-year for most. Those have been no where near 7% over the last 22 years in my state, which is in the upper quadrant.

There's a big difference between what the fund earns and what the individual recipients receive on a personal basis. The funds must remain solvent due to the anticipated demographics of its recipients. Most states are mandated by law to meet targets so they can service the benefit promises made. If the mandated targets aren't met by market investments, the taxpayers are on the hook.

Some states are in serious trouble re their pension promises.

I'm unaware of the Federal systems and Federal pension benefit increases other than the US SSA benefit increases we receive from time to time, which have never been significant for many given the way they now compute the COLA formula to counter yearly inflation.

I am not complaining however, since any increase whatsoever is better than no increase at all.

Hey..... my Golden Eagle Kings just went from P 70 to P95 a few days ago. The wife's co-madre went to several different sari-saris in search of a better  price, but no luck, since it was the distributor's pass through. Maybe it was a scheduled sin-tax increase. 

The same  thing happened last Sunday while I and 5 other expats were having beers at a beach resto. The beer delivery man came in the middle of our session, apparently with the new supply's price increase. Rather than charge us the initial menu price from when we started, the manager over-stickered the old prices with the new to reflect the increase. Some of our beers cost us the old price, and some the new. Some of the fellows were outraged, since we weren't drinking the restock (they argued) and wanted to hang the servers. Since I was the  first to call for my bill due to my service trike arriving at the appointed time, they sprung the new cost on my bill and my wealthy German friend called attention to it. Explanations of the instant price increase were then given to the roiled mob. I just paid the new price and let it ride, but most of the guys wanted the old price... and they got it on the beers they drank before the truck arrived.

So some paid 2 different prices for a bottle of the same beer.  Outraged by the use of Pinoy logic in the matter and willing to take it out upon the innocent employees, I  willingly paid the extra 40 pisos for my 4 beers and downplayed the situation. The group consensus was that we would end our regular Sunday patronage of the resto over the incident and use an alternate resto down the beach front. I told them of a very nice nearby place where the food was great and you could order a galvanized bucket of 6 beers in iced water for P220.  My 4 beers had cost me P280 ( and I gave the poor server a P20 tip, which some of the guys argued against).  So I lead them there in my service trike and they all follow in their motorbikes and cars for an extended drinking session.   Now all is well and all are having More Fun in Da Philippines.  

Whew !  Its not always so easy to have achieve that.         

 

It's hard to tell if you are complaining, or having a good time..or maybe both. I personally think that you are having a good time. 

[manofthecoldland]

1 hour ago, Arizona Kid said:

It's hard to tell if you are complaining, or having a good time..or maybe both. I personally think that you are having a good time. 

Good read, Kid.

We, and those who have run up the years here have learnt to be very parsimonious with complaints for practical reasons. The end game is to enjoy living here. Some of our mates/pals/buddies feel the need to assert themselves and save face for their own reasons. Each of us has to evaluate when to call  and when to fold.

I wish them all well in their game. Take care, and stay healthy. 

p.s. I've noticed your distinctive tactical changes as of late and am impressed that you have re-charted your course.  May we all fulfill our personal Better Angel's aims.

 

[Heeb]

On 3/10/2020 at 6:31 AM, Mike J said:

Does the corona virus cause massive Massive MASSIVE diarrhea?  Is that why there is panic buying of toilet paper? 

If you add it to some chicken broth it makes a very nice soup.

[OnMyWay]

I took a huge hit yesterday.  I mentioned that I was down 5.5% last week.  Now it is 18%.  I did make a few buys yesterday but they are losers so far.

No worries.  I don't need that money any time soon and all of these investments are good dividends payers with good track records.  It may take a year or two or three, but they will come back.

[Tommy T.]

3 minutes ago, OnMyWay said:

It may take a year or two or three, but they will come back.

I have only one word for it..... Uugghhh!

[Gary D]

55 minutes ago, Tommy T. said:

I have only one word for it..... Uugghhh!

My private pension still hadn't reached its 2008 level last year when I reached 65 so that's 11 years.

[hk blues]

Just now, Gary D said:

My private pension still hadn't reached its 2008 level last year when I reached 65 so that's 11 years.

Whilst we are all philosophical about the markets, and how else can we be, the above post kinda hits home - 11 years of effort (by someone) to get back on track and wiped out in just a few days.  I was teaching a Japanese student today - he was due to retire in 2 weeks and will now have to postpone his retirement until he can recoup some of the losses his pension fund has suffered.