Question on Delta's Profit Sharing
#45
I agree with above comments but I would recommend not falling into the trap that the "set it and forget it" methedology is sound especially for those who are closer to needing their 401K funds. I think anyone who even occasionally pays attention to the market would have agreed this last few months pretty much everyone was saying this market has overreached. Pigs get slaughtered. don't get greedy. If you have made a nice return and see that your closer than farther to a pullback be smart,move your assets into cash or at least some of it. Drops like we just witnessed are buying opportunities see them as such. The number one rule is protect your assets. Im not suggesting to become a "trader" just that its important to participate in the management of your retirement.
Several years ago Fidelity performed a survey to see which of their customers accounts performed best and what they had in common. The two best performing groups were dead people and those that forgot they owned an account at Fidelity.
#46
Gets Weekends Off
Joined APC: Sep 2005
Posts: 1,104
#47
Gets Weekends Off
Joined APC: Sep 2005
Posts: 1,104
I agree with above comments but I would recommend not falling into the trap that the "set it and forget it" methedology is sound especially for those who are closer to needing their 401K funds. I think anyone who even occasionally pays attention to the market would have agreed this last few months pretty much everyone was saying this market has overreached. Pigs get slaughtered. don't get greedy. If you have made a nice return and see that your closer than farther to a pullback be smart,move your assets into cash or at least some of it. Drops like we just witnessed are buying opportunities see them as such. The number one rule is protect your assets. Im not suggesting to become a "trader" just that its important to participate in the management of your retirement.
#48
Gets Weekends Off
Joined APC: Sep 2015
Position: I got into this business so I wouldn't have to work.
Posts: 1,034
Call me weird, but I don't fly approaches like that. If I make the correct corrections early, I don't need to thrash as I get closer to the runway. Now if you're using this as an analogy, you must understand that it's pretty much impossible to make financial "corrections" early, given the moving of the financial "ILS" and "LOC" antennae as time goes on. I'm not a Saudi prince going through military pilot training...I'd rather not think of my investing like my approach work.
#49
Gets Weekends Off
Joined APC: Sep 2014
Posts: 4,905
I agree with you... it does depend on your time perspective.
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