Search found 4394 matches

by cherijoh
Thu Feb 01, 2018 9:47 am
Forum: Investing - Help with Personal Investments
Topic: 401K options
Replies: 5
Views: 357

Re: 401K options

All, My company shifted to a new 401K provider and we get more options now. I have tried contacting the 401K services group but they have limited information and not the whole picture depending on whom I talk to. So turning over here for help We have 3 options 1) Pre-tax 2) After-tax 3) Roth I am c...
by cherijoh
Thu Feb 01, 2018 8:36 am
Forum: Investing - Help with Personal Investments
Topic: Invest in 401k vs taxable account
Replies: 18
Views: 1173

Re: Invest in 401k vs taxable account

How much are we talking in fees? How long are you likely to stay at this job? What are your current tax rates? Those are the important factors. There is a formula suggested in the wiki. https://www.bogleheads.org/wiki/401(k)#Expensive_or_mediocre_choices I would add: What is your current age? How m...
by cherijoh
Thu Feb 01, 2018 8:11 am
Forum: Investing - Help with Personal Investments
Topic: Invest in 401k vs taxable account
Replies: 18
Views: 1173

Re: Invest in 401k vs taxable account

runner3081 wrote:
Wed Jan 31, 2018 1:24 pm
fctu wrote:
Wed Jan 31, 2018 11:15 am
Is a 401k with fees always better than investing in a taxable account?
Up to the match, unequivocally, YES!

After that... it depends.

Depends on tax situation, fees, etc.
OP posted there is no employer match.
by cherijoh
Thu Feb 01, 2018 3:04 am
Forum: Investing - Help with Personal Investments
Topic: I have an overwhelming gift I'm in need of help of please.
Replies: 89
Views: 7951

Re: I have an overwhelming gift I'm in need of help of please.

Pay off your house and be done with the issues. Never a bad decision. I beg to disagree! Having a very high % of your total net worth tied up in home equity CAN be a bad decision. It is an easy decision and apparently the default decision for a lot of people posting on this board. For goodness sake...
by cherijoh
Wed Jan 31, 2018 6:06 pm
Forum: Investing - Help with Personal Investments
Topic: About to leave LPL
Replies: 18
Views: 1132

Re: About to leave LPL

I plugged one of your Funds in the VG site and it popped up this message: This fund is not available for purchase or transfer This fund is not available for purchase and cannot be transferred to your Vanguard Brokerage Services® account from another financial institution. Contact Vanguard Brokerage...
by cherijoh
Wed Jan 31, 2018 5:58 pm
Forum: Investing - Theory, News & General
Topic: The Vanderbilts
Replies: 26
Views: 3984

Re: The Vanderbilts

I heard the author of this book on Biltmore Estate when she was on her book tour and a guest on a local Charlotte radio program. Very interesting stuff - here is a link to the podcast.
by cherijoh
Wed Jan 31, 2018 3:10 pm
Forum: Investing - Help with Personal Investments
Topic: About to leave LPL
Replies: 18
Views: 1132

Re: About to leave LPL

I stumbled upon this forum just over a week ago when I was having 2nd thoughts of rolling over a 401k from a prior employer to my IRA with LPL. I have never been terribly knowledgeable about investing and started with this FP more than ten years ago, consolidating old 401k’s to one location. I was ...
by cherijoh
Wed Jan 31, 2018 12:35 pm
Forum: Investing - Help with Personal Investments
Topic: How do I open a nondeductible IRA
Replies: 24
Views: 990

Re: How do I open a nondeductible IRA

...eat the capital gains taxes? . You have to pay the capital gains taxes regardless. The issue is in the cost basis. If you have not properly reported 8606, you will pay taxes on the cost basis twice. Meaning, you already paid taxes for the 5500 as income and you'll pay again when you withdraw it ...
by cherijoh
Wed Jan 31, 2018 7:16 am
Forum: Personal Finance (Not Investing)
Topic: Should I join Linkedin?
Replies: 48
Views: 3533

Re: Should I join Linkedin?

You mean the program that searches through your contacts so you can it can spam your friends in your name without your permission? Were you on the receiving end our the giving end? I believe you have to provide your email password in order for it to it to scan your contacts, so the "without your pe...
by cherijoh
Wed Jan 31, 2018 7:05 am
Forum: Personal Finance (Not Investing)
Topic: Should I join Linkedin?
Replies: 48
Views: 3533

Re: Should I join Linkedin?

LinkedIn helped me secure an unlisted job opportunity roughly a week after I got laid off from my previous role. The onboarding would take an additional 6 weeks but removed a lot of uncertainty in my career transition and allowed me to enjoy “funemployment”. The typical period of unemployment in my...
by cherijoh
Tue Jan 30, 2018 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Accelerating Mortgage Payments? Result of new tax law
Replies: 11
Views: 1014

Re: Accelerating Mortgage Payments? Result of new tax law

That said I am a big fan of having a paid off mortgage but prepaying it a a little bit each month just shortens the length of the loan if it is a fixed rate loan. That could be fine if the OP only has ten years left on the mortgage but if there are 29 years left then it will be a long time before a...
by cherijoh
Mon Jan 29, 2018 10:26 pm
Forum: Investing - Help with Personal Investments
Topic: Unclear how to incorporate company pension into my asset allocation
Replies: 20
Views: 1403

Re: Unclear how to incorporate company pension into my asset allocation

First, how do I know what is the current 30-year treasury security rate? Have you tried Googling "30-year treasury security rate"? And second, how do I incorporate the balance of my pension plan into my asset allocation? Some people treat it as a bond, by calculating the Present Value of the pensio...
by cherijoh
Mon Jan 29, 2018 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: The biggest problem in retirement is spending (not)
Replies: 118
Views: 10269

Re: The biggest problem in retirement is spending (not)

don't want to spend my nest egg on LTC.....save my whole life to be able to afford a better nursing home? No thanks To each his or her own: I'd much rather save my whole life with the chance I'll leave a pile to my heirs rather than being consigned to a nightmarish medicaid facility with no control...
by cherijoh
Mon Jan 29, 2018 8:28 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Dilemma - Bonds or No Bonds, retiring 8 years @ 50y/o, w/ $ lasting to 90s.
Replies: 65
Views: 4557

Re: Allocation Dilemma - Bonds or No Bonds, retiring 8 years @ 50y/o, w/ $ lasting to 90s.

Not included, he shows this exactly: Total Taxes $7,715, Tax Penalty $6,892 (Which should be zero that is wrong), Fed Tax Rate 12%, State Marginal Rate 2.45% Good question, not sure why they are so low, i'll have to ask. [...] Yes and Yes, looking directly at my statement me at age 67 $2927, 70 $36...
by cherijoh
Mon Jan 29, 2018 10:52 am
Forum: Investing - Help with Personal Investments
Topic: Allocation Dilemma - Bonds or No Bonds, retiring 8 years @ 50y/o, w/ $ lasting to 90s.
Replies: 65
Views: 4557

Re: Allocation Dilemma - Bonds or No Bonds, retiring 8 years @ 50y/o, w/ $ lasting to 90s.

I'd like to interject something not related to what you two are talking about right now, but it is something to keep in mind. If you wait until the year in which you turn 55 to retire, you will be able to take money from your TSP account with no penalty. It would be a set amount each month (not wit...
by cherijoh
Sun Jan 28, 2018 3:16 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement Taxes
Replies: 17
Views: 1439

Re: Retirement Taxes

I am reading about DAF now as no previous knowledge.Am I to understand you get the deduction now and delve out the funds over a few years? I set up a DAF at Fidelity in 2017 with appreciated shares. I will be deducting the full amount of the transfer on my 2017 taxes. (Note it is subject to the 30%...
by cherijoh
Sun Jan 28, 2018 2:59 pm
Forum: Investing - Theory, News & General
Topic: If you're really rich you're probably not an index-fundi Boglehead
Replies: 61
Views: 10929

Re: If you're really rich you're probably not an index-fundi Boglehead

I suppose if anyone is really interested, they can go to the source - the Federal Reserve Survey of Consumer Finances, which is cited in the linked article. But, that might be too much effort? https://www.federalreserve.gov/econres/scfindex.htm Yes, that is too much trouble as a graph is supposed t...
by cherijoh
Sun Jan 28, 2018 2:33 pm
Forum: Investing - Theory, News & General
Topic: If you're really rich you're probably not an index-fundi Boglehead
Replies: 61
Views: 10929

Re: If you're really rich you're probably not an index-fundi Boglehead

Based strictly on what I have read in the various posts here, I believe many Bogleheads might be outliers on this holding: Primary Residence is the most important asset class for all net worth tiers up to $1 million. A Boglehead with a three fund portfolio might have more $$$$ in one or more of the...
by cherijoh
Sun Jan 28, 2018 1:47 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Dilemma - Bonds or No Bonds, retiring 8 years @ 50y/o, w/ $ lasting to 90s.
Replies: 65
Views: 4557

Re: Allocation Dilemma - Bonds or No Bonds, retiring 8 years @ 50y/o, w/ $ lasting to 90s.

So basically, the analysis from his financial plan of me having 1.3 million in my TSP/IRA at retirement + 80k pension + my investment earnings (with my current allocation) and retiring at 50y/o, (plus tuition of 24k p/y for 2 kids) the probability of success (having money until i'm 91 and my wife i...
by cherijoh
Sun Jan 28, 2018 1:30 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Dilemma - Bonds or No Bonds, retiring 8 years @ 50y/o, w/ $ lasting to 90s.
Replies: 65
Views: 4557

Re: Allocation Dilemma - Bonds or No Bonds, retiring 8 years @ 50y/o, w/ $ lasting to 90s.

Getting your wife a tIRA and filling it to the max is the only thing he said that was good You thought the recommendation by the advisor for OP to continue to work an additional 5 years was bad advice? Why? IMO that is a sure fire way to improve your odds of having your portfolio survive - although...
by cherijoh
Sun Jan 28, 2018 1:19 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation Dilemma - Bonds or No Bonds, retiring 8 years @ 50y/o, w/ $ lasting to 90s.
Replies: 65
Views: 4557

Re: Allocation Dilemma - Bonds or No Bonds, retiring 8 years @ 50y/o, w/ $ lasting to 90s.

Your current asset allocation has about 80% stock / 20% bond. That is an aggressive allocation at age 40. It does not make sense to go even more aggressive, instead you should gradually trending toward 70% stock / 30% bond. I believe advisors paid using Asset Under Management will want their client...
by cherijoh
Sun Jan 28, 2018 12:11 pm
Forum: Investing - Help with Personal Investments
Topic: Capital Gains Problem When Changing Brokers
Replies: 18
Views: 783

Re: Capital Gains Problem When Changing Brokers

I may be missing something because in-kind transfers from one custodian to another should not create capital gains in any type of account. It seems to me that changing brokers is not the issue unless some of your holdings cannot be transferred in-kind. Did you read the entire post? OP is deciding o...
by cherijoh
Sun Jan 28, 2018 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: The biggest problem in retirement is spending (not)
Replies: 118
Views: 10269

Re: The biggest problem in retirement is spending (not)

As others have noted, another reason to hang onto a good portion of retirement savings is the potential for higher costs during the last years. My wife's frail, late 90s mother lives in a retirement community with base-level costs around $50K per year. However, she is now entering her fourth year o...
by cherijoh
Sun Jan 28, 2018 11:23 am
Forum: Personal Finance (Not Investing)
Topic: The biggest problem in retirement is spending (not)
Replies: 118
Views: 10269

Re: The biggest problem in retirement is spending (not)

Blackrock study suggests that today's retirees are taking most of their nestegg to the graveyard I'm not so worried about today's retirees. More about tomorrow's. Yes, 20 years ago a significantly higher % of retirees had some form of pension. Even those pensions without a COLA help cover a chunk o...
by cherijoh
Sat Jan 27, 2018 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Ways to Protect Assets Without a Prenup
Replies: 48
Views: 3422

Re: Ways to Protect Assets Without a Prenup

I've thought a lot about this as well. Best advice I can find is to keep all investments separate. So in your case, stop contributing new monies to Vanguard and, if you are making new contributions do so via Fidelity/TD Ameritrade, etc. I even think it a good idea to have an intermediary account. T...
by cherijoh
Sat Jan 27, 2018 10:18 am
Forum: Personal Finance (Not Investing)
Topic: I got $3 federal refund from my 2017 tax return.
Replies: 10
Views: 1734

Re: I got $3 federal refund from my 2017 tax return.

I've no idea whether I should laugh or cry :? I am single, own one W2, no student loan, no real estate, just filed 2017 tax return via TurboTax online Free Edition. I guess status simple as mine, federal's tax pre-deduction on my bi-weekly paychecks are pretty accurate. It looks there aren't many p...
by cherijoh
Sat Jan 27, 2018 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Should I pay for an accountant or do it myself online Turbotax?
Replies: 21
Views: 2069

Re: Should I pay for an accountant or do it myself online Turbotax?

I am self employed, have an LLC taxed as an S-Corp I also have another LLC for a new rental property. Accountant will run like $1k Turbotax has an option where you can get live advice and for s-corp. I think it's a little over $100 or so. Is it worth savings to DIY or should I use a pro? The only t...
by cherijoh
Sat Jan 27, 2018 9:53 am
Forum: Investing - Help with Personal Investments
Topic: Buying a home - Financial Benefits? HCOL
Replies: 75
Views: 3408

Re: Buying a home - Financial Benefits? HCOL

RRAAYY3 wrote:
Sat Jan 27, 2018 9:47 am
Thoughts on buying a 2 family house, living in 1 half / renting the other?

Pros / Cons ? I feel like it’s the only somewhat logical and realistic and sensible thing to do in my area.
I'm not sure I'd want to live that close to my tenants.
by cherijoh
Sat Jan 27, 2018 9:39 am
Forum: Investing - Help with Personal Investments
Topic: Buying a home - Financial Benefits? HCOL
Replies: 75
Views: 3408

Re: Buying a home - Financial Benefits? HCOL

I am fortunate that I have a very "big brother" like relationship with many of my employees; they come to me for a lot more than just work-related advice and recently house-buying has seemed to be the hot topic. The bulk of my employees are very recent graduates, the huge majority of whom either ha...
by cherijoh
Sat Jan 27, 2018 9:06 am
Forum: Investing - Help with Personal Investments
Topic: Buying a home - Financial Benefits? HCOL
Replies: 75
Views: 3408

Re: Buying a home - Financial Benefits? HCOL

Owning a home is financial suicide: https://jamesaltucher.com/2015/10/own-house/ Buying a home to rent it out is a different matter. So, the person that lost, or reading between the lines got foreclosed on, two houses thinks owning a home is financial suicide? I'm shocked. :wink: That's a very one ...
by cherijoh
Fri Jan 26, 2018 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: How do you decide how wealthy you really are?
Replies: 58
Views: 7941

Re: How do you decide how wealthy you really are?

To me, the term "wealthy" (in the material sense) implies that you are keeping score vs. others using the value of your portfolio as your scorecard. I consider myself well off, because I can afford all the things I need and can indulge my wants to a reasonable degree. I have never had to live payche...
by cherijoh
Fri Jan 26, 2018 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Can i deduct 401k contributions on top of standard deduction?
Replies: 5
Views: 433

Re: Can i deduct 401k contributions on top of standard deduction?

Hi, I was just wondering if i can deduct the 401k contributions in the past year on top of the standard deduction? Thanks, 401k contributions are deducted from your wages by your employer before federal or state income taxes are withheld from your paycheck. (They do count as SS wages). They don't s...
by cherijoh
Fri Jan 26, 2018 6:14 pm
Forum: Personal Consumer Issues
Topic: April in Paris - Your favorites or suggestions?
Replies: 48
Views: 1925

Re: April in Paris - Your favorites or suggestions?

HI Bogleheads - you are all so helpful and I thought I would ask.... I am heading to Paris in the second half of April 2018 for 10 days. I found a flight for $441 to Paris so all good! I have a hotel by the Luxembourg Gardens on the Left Bank. I will visit some museums, walk all over the city, Eiff...
by cherijoh
Fri Jan 26, 2018 6:10 pm
Forum: Personal Consumer Issues
Topic: What steps should my sister and I go through to claim our inheritance?
Replies: 21
Views: 2725

Re: What steps should my sister and I go through to claim our inheritance?

chevca wrote:
Thu Jan 25, 2018 1:25 pm
Did either leave a will to say how this would go?

If not and even if so, I agree with getting a lawyer involved here. It sounds pretty complicated to leave it all to simply play out. And, hopefully you get along with step-mom's siblings well.
Intestate means there was no will.
by cherijoh
Thu Jan 25, 2018 4:57 pm
Forum: Personal Consumer Issues
Topic: Strategies to combat the urge to spend?
Replies: 68
Views: 3679

Re: Strategies to combat the urge to spend?

In your 20's, besides not buying the new car, the little things really help. What I did transfers, even though it was 30-40 years ago. When you do go out to restaurants, get just water. No soda, no beer, no wine.....water. Ball games....concerts....movies....never buy the soda or beer. When you thi...
by cherijoh
Thu Jan 25, 2018 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Dear wife quits job and now we are down to 1 income
Replies: 190
Views: 16269

Re: Dear wife quits job and now we are down to 1 income

1. How many withhholdings can I claim without giving a free loan ? Maybe 3? 2. Yes, I will take another look at expenses. The new tax law changed withholding, so I don't know what the answer is for 2018. But in previous years you might have added 2 - one for your wife who is no longer working and 1...
by cherijoh
Thu Jan 25, 2018 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Dear wife quits job and now we are down to 1 income
Replies: 190
Views: 16269

Re: Dear wife quits job and now we are down to 1 income

OP once you make the decision about the stay at home or whatever about the future and paint a clearer picture here about your financials, as HomerJ mentioned you could refinance to a 30 year mortgage. That puts you at 71 to have it paid off, while a temporary fix to allow your spouse to stay at hom...
by cherijoh
Thu Jan 25, 2018 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Dear wife quits job and now we are down to 1 income
Replies: 190
Views: 16269

Re: Dear wife quits job and now we are down to 1 income

... 2. DW said she would be ok without health insurance(savings would be 300/ month). She is getting all her medical/ annuals done by end of month before her insurance is terminated. I didn't agree with her. ... I think dropping health insurance is a terrible idea. It doesn't take much to have $10k...
by cherijoh
Thu Jan 25, 2018 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Dear wife quits job and now we are down to 1 income
Replies: 190
Views: 16269

Re: Dear wife quits job and now we are down to 1 income

You're not really losing the entirety of her income because you won't be paying for childcare costs, if she is able to cook you will save money compared to eating out, and some of her income would be lost to taxes. Lots of families do well on one income and a stay home parent, so you have to put so...
by cherijoh
Thu Jan 25, 2018 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Dear wife quits job and now we are down to 1 income
Replies: 190
Views: 16269

Re: Dear wife quits job and now we are down to 1 income

1. How so? Please explain. My take home after taxes around 4.8k-4.9k/ month - 5.5k monthly expenses = -700 / month deficit. 2. Agree, only temporary path. 3. With wife's income we were around 9.2k/ month - 6.0K monthly expenses = 3.2K/ month surplus. I respectfully disagree that we not formerly ok....
by cherijoh
Wed Jan 24, 2018 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: Dear wife quits job and now we are down to 1 income
Replies: 190
Views: 16269

Re: Dear wife quits job and now we are down to 1 income

It's too bad they didn't fire her, then she'd have unemployment coming in. I suspect they made her life miserable on purpose. If they had fired her, they'd probably be in some legal trouble ref maternity leave. Update: I see Matt has a better take on this. Yeah, true, she could argue she was constr...
by cherijoh
Wed Jan 24, 2018 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: Dear wife quits job and now we are down to 1 income
Replies: 190
Views: 16269

Re: Dear wife quits job and now we are down to 1 income

Hi all, First post so please be gentle. Background Info: Me: 41- Income 72k/yr DW: 33- was making 70k/yr. Now 0. Son: 5 months Debt: Mortgage 10 yrs left @3.2%. No other debt. Monthly Expenses: about 5.5k/ month Emergency Fund: 67k in savings earning 0.0000001% DW comes back from 3 month maternity ...
by cherijoh
Wed Jan 24, 2018 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking through Paying Down the Mortgage
Replies: 58
Views: 4298

Re: Thinking through Paying Down the Mortgage

with 10 years to go With only ten years left the situation is a lot different than if you had a 30 year mortgage since you would not have the low interest rate for a long time anyway. Five years from now it will be about halfway paid off anyway. Two things I would look at are; 1) Are you maxing out...
by cherijoh
Wed Jan 24, 2018 6:10 pm
Forum: Investing - Theory, News & General
Topic: Non-deductible IRA & deductible IRA - query
Replies: 5
Views: 368

Re: Non-deductible IRA & deductible IRA - query

There is only one type of traditional IRA (as opposed to "Roth' IRA). You can put pre-tax dollars into that IRA if you qualify. You can put post-tax dollars into that account regardless of income level. It is the contribution that is pre-tax or post-tax, not the account. To amplify on this post. VG...
by cherijoh
Wed Jan 24, 2018 7:26 am
Forum: Investing - Theory, News & General
Topic: The Power of Working Longer
Replies: 77
Views: 9107

Re: The Power of Working Longer

This Bloomberg article references a new NBER paper on the "power of working longer" that is available for download on SSNR for $5: https://www.bloomberg.com/view/articles/2018-01-23/the-remarkable-financial-benefits-of-delaying-retirement Couple of key paragraphs from the link above: "You're 49 yea...
by cherijoh
Wed Jan 24, 2018 6:57 am
Forum: Personal Finance (Not Investing)
Topic: Trying to pay down mortgage, but...
Replies: 32
Views: 2943

Re: Trying to pay down mortgage, but...

So I've weighed the pros and cons of investing vs. paying down mortgage and am committed to doing the latter. I have the ability to intermittently (depending on cash flow) put "principal only" payments above and beyond the monthly payment. I'm throwing odd sums at it at a time, sometimes more than ...
by cherijoh
Tue Jan 23, 2018 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to pay down mortgage, but...
Replies: 32
Views: 2943

Re: Trying to pay down mortgage, but...

So many banks make it difficult to do this for auto loans, home loans, you name it. I can't help but think it is intentional. :x Oh it is for sure.... To pay the full amount on some of my credit cards I had to call to have them snail mail me a form that I had to sign and snail mail back and wait fo...
by cherijoh
Tue Jan 23, 2018 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to pay down mortgage, but...
Replies: 32
Views: 2943

Re: Trying to pay down mortgage, but...

So I've weighed the pros and cons of investing vs. paying down mortgage and am committed to doing the latter. I have the ability to intermittently (depending on cash flow) put "principal only" payments above and beyond the monthly payment. I'm throwing odd sums at it at a time, sometimes more than ...
by cherijoh
Mon Jan 22, 2018 8:16 pm
Forum: Investing - Help with Personal Investments
Topic: Am I being greedy?
Replies: 51
Views: 6082

Re: Am I being greedy?

Two things that you should recognize: Neither you nor anyone else has any way of knowing when you will reach the $2 million mark. Your formulation of 3 to 4 years is pure speculation. You have never experienced a significant downturn in your assets if you began investing in 2012. Therefore, you hav...
by cherijoh
Mon Jan 22, 2018 7:54 pm
Forum: Investing - Help with Personal Investments
Topic: Am I being greedy?
Replies: 51
Views: 6082

Re: Am I being greedy?

If you can stomach a 50-80% drop in value, you're not too greedy. Remember that you're the worst enemy when it comes to wealth management. 80% that's nothing, I can stomach a 99.99% drop! An 80% drop means a 500% recovery to get back to where you started. (I couldn't tell if that was sarcasm or if ...