Oso planning to go pro
Yep. Even at 53, I know that this slide will someday look like the housing bubble or the dot-com bubble. And the stocks I'm buying now are on sale. The worst possible strategy would be to sell right now.And anyone who is 60+ should already have a decent enough portion of their portfolio in bonds and fixed income products that they can ride out your first few years of retirement from assets that haven't been temporarily devalued.
Now What?
Question, is this a good or bad thing for me, as I will be living in London for a year starting in September. For the short term, I think my money is going to go a lot further than it would have a week ago but I don't think I'll be staying out there after to find a job anymore.
If you're going there as a student with U.S. dollars in your pocket everything just got considerably cheaper. If you're working and getting paid in dollars that's really good too. Hard to say about the job part - a lot can happen in a year.
Mostly, this just unwound the "we thought they would stay in" rally we had the last few days. Sound and fury signifying not all that much.
My portfolio, which is mostly proven, blue-chip, Dividend Growth stocks but also includes bonds and cash, lost 0.9% today.Compare that to the S&P 500, which lost 3.6%.That's why I'm not sweating. I'm a conservative, long-term investor, not a trader. I don't listen to market noise or panic every time a "black swan" flies somewhere in the world.
But you looked. I didn't even do that. I have people I pay to worry about that stuff for me.
So you don't monitor the work of those you engage?
Exactly my opinion. We meet quarterly - in person twice a year and on the phone twice a year (to JB's point).I will tell you that our main guy sent out a 'how you should think about Brexit' letter today so i'm guessing he had a number of his other clients calling him today.
Not on a daily basis. I want to spend their time managing my stuff, not talking people off the ledge.
Some people do their own plumbing. Some do their own painting. Some do their own house repairs. Etc.I hire professionals to do most of that (or am happy when Mrs. MU82 does it). I happen to enjoy doing my own investing, and I happen to think I'm pretty decent at it. I also like that I don't spend money paying others to do it. Plus, I write about investing for a large Web site, and the research involved keeps me sharp and helps me as an investor.We all have stuff we're good at and enjoy doing, and stuff we'd rather pay others to do.