10/24/09 Bash on the Boat (I'm With BOB) Thread #11

[oybolshoi]

Sorry, that's one picture I do NOT need to see.

Chicks dig scars ... that's what Jay always says.

 

[JLDSMD]

Yeah ... I'm no expert but I'm totally confused about the markets right now.

We cut back on our 401k contributions by about 50%, but aren't selling anything. I think that the underlying value of most companies listed on the Exchange are actually fine, but people are freaked out and making decisions emotionally rather than logically.

I think you're absolutely correct. If you look at 1987, the market popped back up after the big drop and then six weeks later was when I think it actually bottomed out.

Oohhh....I wouldn't cut back on the contributions (unless you need the money to pay off some debt). With the markets down, you will be buying at lower NAV's. I'd keep the contribution the same.

With 20+ years until touching the money, there will be at least 3 more down cycles in the market. The key is to move some off to Bonds or Cash when the markets have been running high for a couple of years.

 

[JLDSMD]

Chicks dig scars ... that's what Jay always says.

I've got 3 on my knee and one on my lower back (guess that one can be my "tramp stamp" ).

 

[oybolshoi]

Might not be the Whig party, but being a male, maybe the Toupee party.

I mentioned that one because Jason always says that when he's old enough to run for President he's going to do it and run as a Whig. Winfield Scott was the last Whig Presidential candidate ... I think in 1848 (but don't quote me on that).

I think what I looked up may not have it listed right. It said Bush had the House for 6 years and the Senate for 4.

I know there was some big screw up back after the 2000 election when Jeffords switched parties.

I don't remember exactly how it went down, but I think there was a 50/50 split in the Senate when Bush was sworn in and someone from the "other side of the aisle" convinced him to change from Repub. to Independent. Don't know how much difference it really made.

Weird stuff ... sometimes I wish we could chuck the whole system and start over from scratch.

 

[JLDSMD]

I don't remember exactly how it went down, but I think there was a 50/50 split in the Senate when Bush was sworn in and someone from the "other side of the aisle" convinced him to change from Repub. to Independent. Don't know how much difference it really made.

Weird stuff ... sometimes I wish we could chuck the whole system and start over from scratch.

It was 50/50, Daschle voted for the Dems from 1/3-1/20, then Chenney voted Rep from 1/20-May '00. Then Jeffords switched and it went back. It was all screwed up.

 

[oybolshoi]

Oohhh....I wouldn't cut back on the contributions (unless you need the money to pay off some debt). With the markets down, you will be buying at lower NAV's. I'd keep the contribution the same.

With 20+ years until touching the money, there will be at least 3 more down cycles in the market. The key is to move some off to Bonds or Cash when the markets have been running high for a couple of years.

Good advice ... all of which I have made note of. We just wanted some extra cash on hand right now.

See how not-logical we are!?

 

[JLDSMD]

I mentioned that one because Jason always says that when he's old enough to run for President he's going to do it and run as a Whig. Winfield Scott was the last Whig Presidential candidate ... I think in 1848 (but don't quote me on that).

How long have we had the 2 party system? It seems like no one can come on to the scene that is not part of the Dems or the Reps.

I thought this year would have been the year a "Moderate" party would have evolved, but then McCain won on the right. You figure there is a core of people right in the middle who sway one way or the other to determine the elections. If they can pull a little from the fringe towards the middle of each of the two dominate parties, they'd have a chance. Then we'd never have a president with over 50% of the vote.

 

[disgrits]

We haven't adjusted out investments either. Just keeping on buying while it's low. But it does worry me because we'll be looking to "cash in" at least a little bit in 2011 when Emily is off to college. Note to self: Stop the girl's social life and have her study 24/7 so she can get good scholarships.

 

[JLDSMD]

Good advice ... all of which I have made note of. We just wanted some extra cash on hand right now.

See how not-logical we are!?

Cash on hand is key right now. Everyone should make sure they have 6 months of their budget in cash. You never know if a job loss is on the horizon.

Retired people should have at least 3 years of their living expenses in cash. That way, they can ride out any downturns without having to sell at a loss.

I told one friend that is 8 years from retirement to set what his need is in 8 years. Then set "points" along the way as to where he needs to be to accomplish that goal. If you're over the set-point, move it to cash to help protect against the downturns.

 

[JLDSMD]

We haven't adjusted out investments either. Just keeping on buying while it's low. But it does worry me because we'll be looking to "cash in" at least a little bit in 2011 when Emily is off to college. Note to self: Stop the girl's social life and have her study 24/7 so she can get good scholarships.

Doesn't she get help/scholarship since Rob is in the military?

I wouldn't be too much in stocks if you need the money for 2011. You should be mostly Cash and Bonds, but with the market down, you might be able to get some extra kick by having a small percentage in equities.

 

[Verandah Man]

I've got 3 on my knee and one on my lower back (guess that one can be my "tramp stamp" ).

 

[oybolshoi]

How long have we had the 2 party system? It seems like no one can come on to the scene that is not part of the Dems or the Reps.

I thought this year would have been the year a "Moderate" party would have evolved, but then McCain won on the right. You figure there is a core of people right in the middle who sway one way or the other to determine the elections. If they can pull a little from the fringe towards the middle of each of the two dominate parties, they'd have a chance. Then we'd never have a president with over 50% of the vote.

There was a time, about 8 years ago, that I would have considered McCain a moderate. Right now I'm not sure where he actually falls.

I've never understood how another party has not managed to make inroads into the political system, but it hasn't been for trying. Ross Perot was the last one to pull signifcant votes (I think) but during the thirties I want to say that the American socialist party make some pretty big inroads and the KKK was pretty powerful politcally in the twenties.

And who can forget Teddy Roosevelt's Bull Moose Party in the 1912 election? He split the party by running against Taft and allowed Woodrow Wilson to take the white house.

I need a life.

 

[njprincess]

Got a great letter in the mail today...I've been nominated for an award at work. Got to wait a couple of weeks to see if I've won something. Wish me some dust guys.

Nice to be nominated though...makes all the effort worth while, and appreciated.

 

[disgrits]

Doesn't she get help/scholarship since Rob is in the military?

I wouldn't be too much in stocks if you need the money for 2011. You should be mostly Cash and Bonds, but with the market down, you might be able to get some extra kick by having a small percentage in equities.

My kids could get their college tuition paid for if Rob dies in the war--no thanks, I'll pay for it out of pocket.

 

[Verandah Man]

My kids could get their college tuition paid for if Rob dies in the war--no thanks, I'll pay for it out of pocket.

Oh, no, no, no......we can't have that.

 

[disgrits]

There was a time, about 8 years ago, that I would have considered McCain a moderate. Right now I'm not sure where he actually falls.

I've never understood how another party has not managed to make inroads into the political system, but it hasn't been for trying. Ross Perot was the last one to pull signifcant votes (I think) but during the thirties I want to say that the American socialist party make some pretty big inroads and the KKK was pretty powerful politcally in the twenties.

And who can forget Teddy Roosevelt's Bull Moose Party in the 1912 election? He split the party by running against Taft and allowed Woodrow Wilson to take the white house.

I need a life.

Woodrow Wilson was the one that the suffragists were fighting.........

 

[disgrits]

Well, I need to feed my family and get to a high school football game.......

 

[Verandah Man]

And I need to read my morning paper, was running so late this morning, I never got to read it............been DISing ever since I finished dinner, time to sit back, relax, and look over the paper. Be back later.........

 

[oybolshoi]

Woodrow Wilson was the one that the suffragists were fighting.........

yeah, he wasn't exactly a liberal democrat.

 

[JLDSMD]

My kids could get their college tuition paid for if Rob dies in the war--no thanks, I'll pay for it out of pocket.

That must be it. I have a lady here, who's prior husband died, not in war, but while full-time military, and she can get full tuition.

Don't they give your kids any breaks?

Thankfully 529's were just coming into vogue about a year after DS was born. We've been putting away at the max deduction for the tax benefit here in WI. It was at a nice amount earlier this year. It will run back up before he starts college. I told him I will pay for either 4 years at a really good undergrad school, or 4 years at a state university and then his grad school.

I'm hoping he'll take the 4+grad since his generation will need a Master's to get a decent job.