This is deep and wide and well beyond my understanding. It is well put together and explained well and I did read it but as an average person who does not understand the markets, I will need to read again and again to grasp. The big guys are going to lose bigly - that much I was able to discern.
My selfish question is what effect will there be on pension plans and my savings plans and IRA's when the shit hits the fan? I thought I did everything right - paid my debts, put money away, lived within my means and raised self sufficient kids. Is there anything I can do to mitigate my losses as a retired public employee? Or will my pension be gone?
I've no idea how pensions would suffer. It does appear that the rich are putting money into physical assets at the moment though if it helps (I wouldn't be able to advise on this though, further research required)
Thanks for the answer. I am not rich but have all the physical assets I need to survive, life would just be much different without that check I worked every day for!
Most passive pensions and retirement funds are invested in the markets, later on in maturity usually shift to T-bills and Government bonds. Some pension funds (like TIAA, which handles something like 50% of non-Federal government retirement funds) are really proactive (actually into GME at this point) and should do well. Some early lifcycle funds are even heavy on crypto.
I think the ones invested heavily in the wider market (old-school index funds) are in trouble. The other ones are relatively safe, but might not keep pace with inflation.
I'm not giving advice, but I'll tell you what I did, personally. I had one retirement plan that was limited to a handful of boomer index funds (tracking Dow, S&P 500, etc.). I moved it all out to another broker under an IRA account that allowed for self-directed investment. That all went into precious metals. I'm confident that will keep my balance safe until the market bottoms out and I buy back in for the upswing.
I understand pensions are a bit different, but at least review (if you can) where your money's sitting and evaluate if you need to adjust (if even possible under your plan).
This is very helpful. Thank you for the info. I will start digging. I know our state does allow for an option to take a lump sum during some window of time annually, I just need to start with finding out where they have the fund invested right now. Again, many thanks for your time.
This is deep and wide and well beyond my understanding. It is well put together and explained well and I did read it but as an average person who does not understand the markets, I will need to read again and again to grasp. The big guys are going to lose bigly - that much I was able to discern.
My selfish question is what effect will there be on pension plans and my savings plans and IRA's when the shit hits the fan? I thought I did everything right - paid my debts, put money away, lived within my means and raised self sufficient kids. Is there anything I can do to mitigate my losses as a retired public employee? Or will my pension be gone?
I've no idea how pensions would suffer. It does appear that the rich are putting money into physical assets at the moment though if it helps (I wouldn't be able to advise on this though, further research required)
Thanks for the answer. I am not rich but have all the physical assets I need to survive, life would just be much different without that check I worked every day for!
Most passive pensions and retirement funds are invested in the markets, later on in maturity usually shift to T-bills and Government bonds. Some pension funds (like TIAA, which handles something like 50% of non-Federal government retirement funds) are really proactive (actually into GME at this point) and should do well. Some early lifcycle funds are even heavy on crypto.
I think the ones invested heavily in the wider market (old-school index funds) are in trouble. The other ones are relatively safe, but might not keep pace with inflation.
I'm not giving advice, but I'll tell you what I did, personally. I had one retirement plan that was limited to a handful of boomer index funds (tracking Dow, S&P 500, etc.). I moved it all out to another broker under an IRA account that allowed for self-directed investment. That all went into precious metals. I'm confident that will keep my balance safe until the market bottoms out and I buy back in for the upswing. I understand pensions are a bit different, but at least review (if you can) where your money's sitting and evaluate if you need to adjust (if even possible under your plan).
This is very helpful. Thank you for the info. I will start digging. I know our state does allow for an option to take a lump sum during some window of time annually, I just need to start with finding out where they have the fund invested right now. Again, many thanks for your time.