USNFDX

The ONLY good financial advice I ever got from a pilot was "Never take any financial advice from a pilot"

RedeyeAV8r

Unless you are a Billionaire looking to become a Millionaire

Luckydawg

I'm 61 years old and was invested 90 percent in stocks so my new plan is to lobby Warshington to change the retirement age to 70. That way when the market comes roaring back I can get a better handle on things. I will reallocate my stocks when I'm 69.

I'm not familiar with Dave Ramsey but there are a few good reasons to be in gold right now. 1) Uncertainty, people flock to gold with uncertainty and there is a lot of it 2) Nothing else is working (the next bubble, it could work for a while). Tomorrow, if we break below 740 in the S&P we could go another good step down in the market but potentially up in gold. 3) There are funds that trade gold that were not available in years past. You can get in and out without actually purchasing it. 4) Gold is usually a hedge against inflation which we may setting up for in the future once capital is freed up and available again.

Dave Ramsey's example of $1 of gold since 1801 is a bad example. Since 1975 gold was finally allowed to find its free market level.

When paper burns, gold shines. What of our paper money? After this banking fiasco, what is our money worth, nobody knows the outcome, thus the uncertainty thus the move to gold. It's about wealth preservation now. When cash isn't king anymore, gold is.

Dow/Gold ratios. How many ounces of gold to buy one share of stock. Dow=10000 gold=500 ratio of 20 in a growth phase, that is typical. We are not in a growth phase. A couple of ugly periods the ratio was 2 (1932) and 1 (1981, gold spiked). We are in a similar period.

Right now we are at 7400/1000. I follow one tea reader, he says dow=7200 and gold=1200 for a ratio of 6. This is the best case I found out there, others are calling for ratios lower. That only means the dow higher, gold lower or both... I'm starting to sound like BIGGS, sorry...

Blackwing

Best word of advice you'll ever receive.

JetJocF14

I fear that if you have to go to Kroger, or Safeway and scratch off some gold dust to pay for your food, then the real money will be a 9 mm bullet....

Luckydawg

Not saying it'll get to that but now that you mentioned it,


Gun Sales Thriving In Uncertain Times


By Fredrick Kunkle
Washington Post Staff Writer
Monday, October 27, 2008; Page A01
Americans have cut back on buying cars, furniture and clothes in a tough economy, but there's one consumer item that's still enjoying healthy sales: guns. Purchases of firearms and ammunition have risen 8 to 10 percent this year, according to state and federal data.
Several variables drive sales, but many dealers, buyers and experts attribute the increase in part to concerns about the economy and fears that if Sen. Barack Obama of Illinois wins the presidency, he will join with fellow Democrats in Congress to enact new gun controls. Obama has said that he believes in an individual right to bear arms but that he also supports "common-sense safety measures."
"Even though [Obama] has a lot going for him, he's not very pro-gun," said Paul Pluff, a spokesman for Massachusetts-based Smith & Wesson, which has reported higher sales. Gun enthusiasts are "going to go out and get [firearms] while they still can."
Gun purchases have also been climbing because of the worsening economy, which fuels fears of crime and civil disorder, industry sources and specialists said.
"Generally, we know that hard economic times always result in firearm sales," said James M. Purtilo of Silver Spring, who publishes the Tripwire Newsletter.
Gary Kleck, a researcher at Florida State University's College of Criminology and Criminal Justice whose work was cited in the District's recent Supreme Court gun-control case, said that although there are no scientific studies linking gun sales and economic conditions, people often buy firearms during periods of uncertainty. People often buy weapons because of concerns about personal safety or government actions to limit access to firearms, causing spikes in sales, Kleck said.

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Industry experts and law enforcement officials point to several examples over the years. In 1994, there was a rush to buy guns when President Bill Clinton pushed for a ban on military-style semiautomatic rifles. Handgun sales jumped last year after the massacre at Virginia Tech as some worried about personal protection and others feared sweeping restrictions on handguns, pushing applications for concealed gun permits in Virginia alone up 60 percent. People also rushed to buy guns after the 1992 riots in Los Angeles and the breakdown of order in New Orleans after Hurricane Katrina.
Bob Leyshion, who visited a gun shop in Manassas recently, said the economic crisis and Obama's lead in the polls were on his mind.
"People are preparing for catastrophe right now," said Leyshion, 55, of Nokesville. "It's insurance. With the stock market crash and people out of work, and the illegal aliens in this area, the probability of civil disorder is very high."
Gun owners haven't been especially thrilled about the prospect of Sen. John McCain in the White House. They see the Arizona Republican as less of a threat than Obama, but they are still angry over McCain's support for certain gun-control measures in the past, such as requiring purchasers at gun shows to undergo background checks.
Gun owners said McCain's moose-hunting running mate, Alaska Gov. Sarah Palin, is far more likely to champion Second Amendment rights.
"The industry and sportsmen have not been in love with McCain, but the selection of Palin wiped that all away," said Anthony Aeschliman, a spokesman for the National Shooting Sports Foundation.

⌐ AV8OR WANNABE

Well, I wish you the best, but I will stay away from gold.

As someone born and raised in Europe I’ve seen this flocking to gold for years, yet the vast majority of Europeans has made less money on that gamble than they’d have it they chose the stock market instead.

Again, I wish you luck but I'll stay away from the shiny metal and focus on stocks.

Since you mentioned your age I do have to ask you a question…

I am not sure if you were serious or not when you said you'll be lobbying for age 70 retirement age and if you really did have had 90% of your retirement money in stocks a year or so before what you thought would be your retirement?

After all, you cannot say that you were 100% sure that on Dec 13, 2007 Bush would sign the new age 65 legislature. There’s no way you could’ve known that. I've always heard that if you have less than 5 years or so to your retirement it's time to gradually leave the stock market. Yet you kept 90% of your money there?

That's pretty ballsy, wouldn't you say?

I've been told before that I'm somewhat sarcasm-challenged so maybe you were just joking and I, as always, missed it. (Fortunately the smiley keeps me out of trouble most of the time)

However, if you were serious, would you please share with us why you decided to gamble your retirement on the stock market so close to your retirement?

I want to learn so I don't ever make a similar mistake.

Thanks again.

…and I still would like to hear from FDX pilots on pros & cons of buying your stock right now. Not interested in gold, silver, oil, titanium, pork belly futures, or other "safe bets." Thanks.

HIFLYR

You are kidding right!!! You say you did not manage your finances right and now need to work until 70 and think we should follow your advice? One poster was correct in saying if things really get as bad as you say is possible then lead "as in bullets" will have been your best investment.

Luckydawg

Doh! Hate it when that happens, I forgot the

⌐ AV8OR WANNABE

Ok, it makes more sense now...