The Stock Market is gonna crash!?

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Rack

Legendary Cowboy
Oct 13, 2004
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#61
Yes, but navigating in this world without debt is pretty hard for young people just getting started. If they do it though, probably the most beneficial financial move they can make. I disagree with him slightly on car loans though. I think it's worth it to finance a newer reliable car than to keep driving an old clunker in most cases. Those old cars take a lot of maintenance and that costs.
You can say that again...I'm driving currently a 1999 Trooper that I bought new with 197K miles on it now and it's been through two transmissions and now I've run out of people who know how to fix them. Just holding on...we do have a new financed car...always buy new and finance, pay off early and drive until the wheels literally fall off...otherwise it's likely a loss.
 

Rack

Legendary Cowboy
Oct 13, 2004
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#62
Going back to what I think was the onus for this thread. Here’s an interesting read, the good news is that unless something absurdly out of the ordinary, me ‘n bern have about the same chance of being elected.
https://www.cnbc.com/2020/01/27/the-stock-market-is-starting-to-worry-about-bernie-sanders.html
The problem is so many of those guys and gals are in NYC and actually believe he has a chance of winning the Presidency...lol...sure hope they are wrong anyway.
 
Nov 6, 2010
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#64
You can say that again...I'm driving currently a 1999 Trooper that I bought new with 197K miles on it now and it's been through two transmissions and now I've run out of people who know how to fix them. Just holding on...we do have a new financed car...always buy new and finance, pay off early and drive until the wheels literally fall off...otherwise it's likely a loss.
Yea, I bought a new Dodge Ram a little over a year ago. Paying as much as I can extra, and driving it as little as possible. Put 10K miles on it in 13 months, and plan to have it paid off in 3 years or less. So if I stick to the plan, I'll have a paid off truck with around 28K miles on it and should be able to drive it till I croak.
 
Jul 10, 2009
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#70
Better than he deserves...lol, gotta love ole Dave. He's Taylor maybe to protect people from the debt trap...but once people understand it, if they don't have an addictive personality, most can manage it at least a little better than Dave gives them credit for.
It's amazing how many people that need that advice, though. I was talking to someone who has a responsible job and a master's degree that was blown away by his advice to always have $1000 in an emergency fund. She had never thought of that! Just put car / home repairs on the credit card that was not paid off every month.
 
Jul 10, 2009
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#72
So, how do you find a good, strategic financial adviser? Have several decision points coming up in the next couple of years and need to start planning. I know that there are investment advisers that will help with that specifically, but the things I'm needing help with are:

1) house will be paid off in a couple of years which will free up several thousand a month. What should I do with that being 7 or so years from retirement? Could max out a tax deferred 403b, a workplace Roth, HSA or something else?
2) Defined benefit pension starts paying out in four years. And again, that will be free cash flow because I plan to be still working. What do I do with those funds? How do I evaluate survivor options in coordination with other investments, future social security options and other defined benefit pensions?

What i need is vastly different that "I have $XXXX that I need to invest". I need a road map for the next several years.
 

ksupoke

We don't need no, thot kuntrol
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Feb 16, 2011
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dark sarcasm in the classroom
#74
Was noodling around looking at different scenarios if say Warren Or Bloomberg were to win the presidency. Found this on kiplinger it’s 4 years back but the principals hold, good / brief (which is always good) read. I’m not convinced conventional wisdom would hold this time around but I know the street likes certainty so after a period of adjustment I’m sure it would find a floor with a ton of bargains in the meantime. Interested to see others thoughts.

https://www.kiplinger.com/article/i...ential-elections-affect-the-stock-market.html
 

Pokey

Territorial Marshal
Sep 13, 2013
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#75
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It’s odd, my son and I were discussing oil related industries just the other day. Some of our local companies are dirt cheap now, but worry they may be carrying too much debt. But the time to buy is when the blood is in the street. We were looking at CHK ,DVN, and CLR
 
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oks10

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#76
It’s odd, my son and I were discussing oil related industries just the other day. Some of our local companies are dirt cheap now, but worry they may be carrying too much debt. But the time to buy is when the blood is in the street.
Exact reason I chose last year to finally participate in my companies discounted stock plan. Every 6 months I get to buy shares at the lowest price of that 6 month window with an additional 20% discount stacked on top of that. The odds of my company going under are VERY low so I'm not worried about that. As long things eventually get back up to even close to "normal" I'll have a decent return. Until them I'm just taking advantage of the number of shares I'm able to grab right now.
 

Pokey

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Sep 13, 2013
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#77
Exact reason I chose last year to finally participate in my companies discounted stock plan. Every 6 months I get to buy shares at the lowest price of that 6 month window with an additional 20% discount stacked on top of that. The odds of my company going under are VERY low so I'm not worried about that. As long things eventually get back up to even close to "normal" I'll have a decent return. Until them I'm just taking advantage of the number of shares I'm able to grab right now.
Having been in public education I’ve never had any benefits available except healthcare and a pension. Contributed to 403B without any matching funds. The pension is very helpful don’t get me wrong, but my experience with profit sharing and anything but mutual funds is limited.
Hope you avoid getting Enroned.
 

steross

he/him
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Mar 31, 2004
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#79
So, how do you find a good, strategic financial adviser? Have several decision points coming up in the next couple of years and need to start planning. I know that there are investment advisers that will help with that specifically, but the things I'm needing help with are:

1) house will be paid off in a couple of years which will free up several thousand a month. What should I do with that being 7 or so years from retirement? Could max out a tax deferred 403b, a workplace Roth, HSA or something else?
2) Defined benefit pension starts paying out in four years. And again, that will be free cash flow because I plan to be still working. What do I do with those funds? How do I evaluate survivor options in coordination with other investments, future social security options and other defined benefit pensions?

What i need is vastly different that "I have $XXXX that I need to invest". I need a road map for the next several years.
I'm not an investment advisor or pretending to be one, but investing in an HSA to the max and saving medical receipts is a no-brainer as the best retirement vehicle from a tax standpoint.

I don't know of another account that allows pre-tax investment, tax-free growth, tax-free withdrawal (save medical receipts), and even if you "screw up" and save too much money for the receipts you have collected after age 65 it acts like regular IRA so no real penalty.

Fidelity recently got in the HSA game and has a really good HSA.
 
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Sep 29, 2011
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#80
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It’s odd, my son and I were discussing oil related industries just the other day. Some of our local companies are dirt cheap now, but worry they may be carrying too much debt. But the time to buy is when the blood is in the street. We were looking at CHK ,DVN, and CLR
All crude oil centric companies are highly correlated to crude futures. All nat gas centric companies are highly correlated to nat gas futures. At $50/bbl, there’s meaningful crude price upside.

Crude oil centric companies have more absolute and near-term upside.
Nat gas centric companies (in general) have significantly less absolute and near-term upside. I don’t see major upside in nat gas prices.

I’d run from CHK, not excited about DVN, see some upside in CLR although don’t care for management.


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