How many people with 7 figure portfolios are”rejoicing ?”

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Jimsad
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How many people with 7 figure portfolios are”rejoicing ?”

Post by Jimsad »

I personally am trying to stay put but the losses are beginning to sting when they are in multiples of 100k to my portfolio.

I think it is easier for folks with smaller portfolios to post comments like “I wish market will drop another 30%”

How many of you with large portfolios are wishing for bigger drops in the market ?
Pale Horse
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Pale Horse »

I was initially, but I've been selling bonds for equities in 5% chunks since the bottom started falling out. Now I'm all out of dry powder though (at least as low as I feel comfortable) and too far skewed toward equities. I'm ready for it to head back up so I can shift back to my normal allocation.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by goblue100 »

I have two comma's, and even after the carnage of the last two weeks, I still do. I am not rejoicing, but I'm not crying either. I'm resigned to the fact that people are panicked and this thing will need to play out. I feel like it won't be much longer, but who knows.
What I did learn is that my 60/40 asset allocation was pretty close to what I needed. I had been sorry for taking money out of equities but that has helped to keep the loses tolerable. And to be honest, I'm not adding up the losses from my various portfolios. Its probably a couple of years of expenses, but I don't really need to know.
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theorist
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by theorist »

Not rejoicing — but able to intellectualize whats going on and so not too worried either, except for patients and their families. Economic growth should see my funds restored and then some in a few years time! I hit my rebalancing bands and am also adding new money (at my normal 70/30 AA) to total US market, total international market, the small value index, and Target date 2035 fund. I do feel like I’m starting to get bargains (expect bear market prices on all stock purchases by close today!).
McDougal
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by McDougal »

Definitely not rejoicing. I think I may have lost my second comma, but steadfast in not looking these days, but I can do the math in my head. My biggest concern is I had been planning on retiring this year. Oh well, man plans and God laughs.
RubyTuesday
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by RubyTuesday »

Not rejoicing, and concerned for friends and family at risk both financially and health wise.
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TomatoTomahto
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by TomatoTomahto »

RubyTuesday wrote: Thu Mar 12, 2020 6:50 am Not rejoicing, and concerned for friends and family at risk both financially and health wise.
+1

We can withstand this financially relatively well.
I get the FI part but not the RE part of FIRE.
BoggledHead2
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by BoggledHead2 »

If you have 7 figures you shouldn’t have significant equity exposure

As someone looking to attain 7 figures, I welcome these downturns. Although I am not rejoicing, as it comes from human suffering rather than some economic/corporate greed fall out that it usually is

The seasonal flu has killed 30000 more people than this new virus, wonder where that hysteria is though
Shallowpockets
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Shallowpockets »

I am not rejoicing either.
All the dry powder buyers are either waiting or have bought and today will be more carnage in the markets. Perhaps yesterday’s dry powder money will be down 5% today.
I am not one of those who is particularly enamored at big time market drops. I am not so myopic that I see the world only through my financial gain.
For every BH that is happy at this and buying, there are many more who could not buy and who will now be scared of the stock market and investing and this will be an attitude that is carried forward and will be a drag on the market.
The happy ones are kind of like preppers. The mentality is the same.
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climber2020
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by climber2020 »

Makes absolutely no difference how anyone feels about it. The situation is what it is, and I have no control over it.

Having said that, events like these historically have been excellent wealth building opportunities as long as you stay employed and have a paycheck coming in to pile into stocks. So in that respect, I feel fortunate as an accumulator to have such an opportunity.
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Cyclesafe
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Cyclesafe »

My IPS AA is 60/40 and I'm not yet at my 5% rebalancing band, so soon a decision will have to be made. I did not rebalance last time; I'm not sure if I will do so now. It's comforting to have sufficient fixed that will be able to weather quite a few down years without having to sell equity.

My feeling is that this is temporary, but is driven by the herd. Lots of people will be losing lots of money this quarter. Others will make a killing. I just want what the market delivers long term like at about March 12, 2030.
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EdNorton
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by EdNorton »

Depends what your investment philosophy is: do you want to get rich or do you want to stay rich? :sharebeer
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plats
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by plats »

Rejoicing reminds me of the adage "Whistling past the graveyard." This is not going to be pretty.
Conch55
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Conch55 »

No rejoicing here. I am already retired but not drawing from my portfolio this year so for me there is time for recovery. While I expected a market downturn at some point I never imagined something like covid-19 being in the mix. It's a good test of my AA and resolve to not overreact.
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queso
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by queso »

BoggledHead2 wrote: Thu Mar 12, 2020 6:59 am If you have 7 figures you shouldn’t have significant equity exposure

As someone looking to attain 7 figures, I welcome these downturns. Although I am not rejoicing, as it comes from human suffering rather than some economic/corporate greed fall out that it usually is

The seasonal flu has killed 30000 more people than this new virus, wonder where that hysteria is though
Really? Then I'm doing it wrong at 85/15. I wish you had told me before the virus hit. :happy

Doing nothing other than TLH at this point. Contributing the usual to my retirement and taxable accounts as per my IPS. Not rejoicing though...these big drops are tough to stomach. I'm trying to wean myself off daily checking.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Wanderingwheelz »

Not rejoicing, but Not in any danger of losing my second comma. I had the idea I’d like to retire in 3 years and that’s not looking as realistic as it was. I’m “fortunate” to have been 60/40 and to have trusted my gut and sold 20% of my stock (TLH that I parked in cash) when the handwriting was on the wall a couple of weeks ago. I have been putting that money back to work this week at lower prices.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by KingRiggs »

BoggledHead2 wrote: Thu Mar 12, 2020 6:59 am If you have 7 figures you shouldn’t have significant equity exposure

Not sure where you get that from. It all boils down to expected expenses and level of lifestyle in retirement.

A million dollar portfolio funds a $40k annual withdrawal at 4%. That is not a lot of money in current terms, let alone with 15-30 years of inflation...
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Jack FFR1846 »

Not rejoicing at all. I mean....who is looking for instability in the market besides market timers? These times have made me understand the stock/bond relation better. When I update my investments spread sheet, my biggest bond fund is the first one I update. Wow.....another record high day! Then to the stocks and oh.....another record drop. I'm also realizing that my hundreds of thousands of dollars in US Savings Bonds acts unlike both of these and isn't a bond after all. It is uncorrelated with both stocks and bonds. I know that's obvious, but it's easy to take something that's called a bond and just lump it in with other bond funds. Not sure what I'll do with that information.
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Jimsad
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Jimsad »

This is starting to feel like 2008 to me .
But my portfolio was low six figures then .
I am having a tougher time staying course with a much larger portfolio and when I see comments from people wishing for more losses , it irks me
dknightd
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by dknightd »

Not rejoicing, and no longer have 7 figures. I was hoping that would not happen till next year (or preferably never). But if the market drops by another 4% today my plan calls for me to buy more stocks. Assuming I'm paying attention near the end of the day I will do that. If it gets back above previous highs then I will be rejoicing :)
I really wish this correction had happened before I retired. Just so I would know how bad it was going to be.
Never mind, as long as stocks one day reach a new high, before I die, I'll likely be OK :)
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JoMoney
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by JoMoney »

I've lost several multiples of my annual salary. I'm not "rejoicing", but I had been thinking the market was getting heated and needed to let off some steam.
I'm continuing to make my regular purchases, and don't really feel phased by the markets moves. Ask me again in a couple years and we'll see if I think I should have felt something different.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by onourway »

It is what it is. I expect to work for another 15 years or so, and I'm still comfortable with my chosen asset allocation today. If things fall further and stay down, I will likely shift all new purchases to equity for a while. Otherwise no changes.
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TheTimeLord
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by TheTimeLord »

Not rejoicing but I was selling the melt up since December and sold a significant portion of my equities when we were down 3%-5% from the peak. I am now buying back in so not all that upset with lower prices since I believe (hope) they are temporary/short lived.
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calmaniac
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by calmaniac »

BoggledHead2 wrote: Thu Mar 12, 2020 6:59 am If you have 7 figures you shouldn’t have significant equity exposure

As someone looking to attain 7 figures, I welcome these downturns.
Please provide your rationale for my not have equity exposure?

My DW and I have mid 7 figures and a very substantial cash stream from pensions. Why would we put all of our assets in fixed income, when our time horizon for most of that money is 10+ years? We are presently 70/30 and may consider adding more equities if the correction continues.

I'm not rejoicing in the downturn, but dispassionately looking to see how we can take advantage of the volatility through TLH, selling legacy individual stocks, etc. I do sleep well at night.
Last edited by calmaniac on Thu Mar 12, 2020 7:57 am, edited 1 time in total.
63 yo,1y til go part-time. AA 70/30: 30% S&P, 16% value, 14% intl, 10% EM, 30% short/int govt bonds. My mil pension + DW's now ≈60% of expenses. Taking SS @age 70--> pension+SS ≈100% of expenses.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Sandtrap »

Not rejoicing.
Not doing anything.
Thinking about doing something, but doing nothing is doing something.

This is when an allocation of 35/65 floats in the storm like Noah's Ark.
Although, the animals are getting pretty upset from the turbulence.

Don't just sit there. . . do nothing.
j :happy
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lexor
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by lexor »

Jimsad wrote: Thu Mar 12, 2020 6:16 am I personally am trying to stay put but the losses are beginning to sting when they are in multiples of 100k to my portfolio.

I think it is easier for folks with smaller portfolios to post comments like “I wish market will drop another 30%”

How many of you with large portfolios are wishing for bigger drops in the market ?
I would imagine I would feel the sting yes. I was getting close to 7 figures at the high...I would say overall I'm still happy even though I don't hold dry powder like a lot of people on these forums seem to. When I say 100% stocks I mean it. Luckily I decided to switch as much as I could to NTSX just before most of the drop (not to time the market, but as a strategy change).
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by dknightd »

Jimsad wrote: Thu Mar 12, 2020 7:40 am when I see comments from people wishing for more losses , it irks me
I sometimes think we need an easy way to determine if a poster is still accumulating, or has started de-accumulating.
If I was still working and adding to my retirement savings I would be happy for this (hopefully temporary) downturn.
But since I now have to live off what I've saved I'm not so happy ;) So far I've lost a year of living expenses. It would have been worse if I had not removed some risk before I pulled the plug on income.
Yet, here I sit planning to add risk just when things might be getting more risky! Maybe I'll go for a long walk, while staying 6 feet away from people, and not touching anything ;)
If you value a bird in the hand, pay off the loan. If you are willing to risk getting two birds (or none) from the market, invest the funds. Retired 9/19. Still working on mortgage payoff.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by lgs88 »

I lump-summed 7 figures on February 18th. It wasn’t market timing; it was just when I got access to the funds, which I’d been preparing for for a long time.

It has been a rough few weeks. At 85:15 I was feeling slightly ill, so I went to 75:25. It cost me a lot of money, but I looked at the news this morning and felt OK about the markets, since I’ve got X years of living expenses in Treasuries. That peace of mind is worth whatever $$ discovering my real risk tolerance in the middle of a crisis cost me.
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Northster
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Northster »

I'm retired with 40/60 (well 37/63 today) and very comfortable. Certainly feeling much better than when I entered retirement in 2008 with 60/40.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Normchad »

Not rejoicing, but not panicking either.

The dollar losses are very large. But I’ve got several years of accumulating left, and I am investing significantly more total dollars per year than I was twenty years ago. So that’s the silver lining, the reduced price is hopefully making these investments more worthwhile.

Hard to rejoice when others are panicking, and some will surely be suffering from the fallout.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by BoggledHead2 »

calmaniac wrote: Thu Mar 12, 2020 7:56 am
BoggledHead2 wrote: Thu Mar 12, 2020 6:59 am If you have 7 figures you shouldn’t have significant equity exposure

As someone looking to attain 7 figures, I welcome these downturns.
Please provide your rationale for my not have equity exposure?

My DW and I have mid 7 figures and a very substantial cash stream from pensions. Why would we put all of our assets in fixed income, when our time horizon for most of that money is 10+ years? We are presently 70/30 and may consider adding more equities if the correction continues.

I'm not rejoicing in the downturn, but dispassionately looking to see how we can take advantage of the volatility through TLH, selling legacy individual stocks, etc. I do sleep well at night.
You have mid 7 figures, you have a pension.

You won. No reason to play anymore - that simple.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by winterfan »

Sandtrap wrote: Thu Mar 12, 2020 7:57 am Not rejoicing.
Not doing anything.
Thinking about doing something, but doing nothing is doing something.

This is when an allocation of 35/65 floats in the storm like Noah's Ark.
Although, the animals are getting pretty upset from the turbulence.

Don't just sit there. . . do nothing.
j :happy
Agree. Not looking either. We also have a 65/35 mix, but it might be off a little. We only rebalance once a year though.
halfnine
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by halfnine »

To me it looks like there are asset bubbles everywhere. The last few years have reminded me of the euphoria in 1999. While I am not "rejoicing" I would prefer to see bubbles popped sooner rather than later for everyone's sake. A few years back we decided to postpone FIRE until after the next recession.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by 3funder »

climber2020 wrote: Thu Mar 12, 2020 7:11 am Makes absolutely no difference how anyone feels about it. The situation is what it is, and I have no control over it.

Having said that, events like these historically have been excellent wealth building opportunities as long as you stay employed and have a paycheck coming in to pile into stocks. So in that respect, I feel fortunate as an accumulator to have such an opportunity.
+1
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Lumpr
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Lumpr »

BoggledHead2 wrote: Thu Mar 12, 2020 8:13 am
calmaniac wrote: Thu Mar 12, 2020 7:56 am
BoggledHead2 wrote: Thu Mar 12, 2020 6:59 am If you have 7 figures you shouldn’t have significant equity exposure

As someone looking to attain 7 figures, I welcome these downturns.
Please provide your rationale for my not have equity exposure?

My DW and I have mid 7 figures and a very substantial cash stream from pensions. Why would we put all of our assets in fixed income, when our time horizon for most of that money is 10+ years? We are presently 70/30 and may consider adding more equities if the correction continues.

I'm not rejoicing in the downturn, but dispassionately looking to see how we can take advantage of the volatility through TLH, selling legacy individual stocks, etc. I do sleep well at night.
You have mid 7 figures, you have a pension.

You won. No reason to play anymore - that simple.
Apples and oranges.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by LookinAround »

I'm 7 figures and down 10% from the high. Not rejoicing but happy with my AA choices and decisions.
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TinyElvis
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by TinyElvis »

No rejoicing here. Small business owner, 49 years old, 65/35 allocation. As someone else mentioned, it's not fun seeing value equivalent to a few years salary disappear in a few weeks.
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by lauberge49 »

I am 70, retired, and was at 40/60 AA at the peak. This week, I switched to 60/40, and may go 70/30 if this continues. I have to do RMD’s starting this year but IRA is all in bonds, so comfortable with that. I am in a position that, if I need to increase my allocation in stocks, I will have to own stocks in my IRA.......we also have a bit of cash on the sidelines if need be..........looking rough at the open this Thursday morning........seat belt fastened, but probably will not make another move until 2021..........luck and good health to all........
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by HomeStretch »

Not panicking but not rejoicing either. It’s not fun to see a loss of 4-5 years of living expenses just before spouse’s planned retirement this year. Hopefully this doesn’t lead spouse to consider OMY...
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calmaniac
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by calmaniac »

BoggledHead2 wrote: Thu Mar 12, 2020 8:13 am You have mid 7 figures, you have a pension.
You won. No reason to play anymore - that simple.
BoggledHead2, that logic does not resonate with me. One size/approach does not fit all portfolios.

1. Given that the 30% fixed income share of our assets (≈$2MM) will more than cover us through the next 10+ years, I think of that 'bucket' as being the 'you won, stop playing' bucket. I think of much of our equities as being for legacy giving to family & charities, and as such with a 20+ year horizon.
2. If I do a Montecarlo analysis, pretty much any asset allocation from 90/10 to 10/90 comes out 99% success. So why not maximize our ability for legacy giving?
3. Some retired BH'ers note that AA with equities >30-35% gives them the willies. Conversely, I would not be comfortable with an equity allocation much <70%. For our situation, that seems like throwing away the fruits of our hard work of many years for virtually no added security. I'd rather see that money make a difference in others' lives.

P.S., I like to play :D

YMMV
63 yo,1y til go part-time. AA 70/30: 30% S&P, 16% value, 14% intl, 10% EM, 30% short/int govt bonds. My mil pension + DW's now ≈60% of expenses. Taking SS @age 70--> pension+SS ≈100% of expenses.
beth26
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by beth26 »

Not rejoicing, somewhat freaking out but I haven't made any moves yet. Let my normal contributions go in as planned last week. I had my portfolio on my screen last week ready to switch to all bonds but just couldn't do it, too many years of staying the course.

Hope it is the right decision but I feel pretty foolish. It was pretty easy to see this virus would spread across the world. Makes it feel to me this time is different even though I know everyone says every time is different. In 2008 I had no idea what was going on in the financial world so I held on and it worked out. Hope this time the same strategy works. Just feels like anytime someone says coronavirus the market drops 2 to 7 percent. I've never seen swings like this on a daily basis. Has a bear market every materialized so quickly?

I was about 8 years from retirement so probably shouldn't have been so aggressive (75/25). Now saddened I'll likely have to work longer to recover.
Rus In Urbe
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Rus In Urbe »

*
We're retired and in a good position at 30/70 (out of dumb luck because of a rollover that put a hunk into cash in early Feb). So we are home and secure and healthy, so far.

But rejoice? No. I'm thinking of all the people who staked their retirement and need the income. And of the folks who, because of the business downturn that will follow, will lose their jobs. And of the people who won't be able to pay their mortgage, or pay a doctor, or put food on the table because their jobs snuffed.

Q2 news is going to be abysmal and that will bring on another round of selling. We'll bungee-jump this thing downward a long way yet---just my hunch.
On the other hand, adversity will bring out the best in a lot of people. That happens too.

But, Rejoice? no.

Rus.
I'd like to live as a poor man with lots of money. ~Pablo Picasso
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by KlangFool »

Rus In Urbe wrote: Thu Mar 12, 2020 8:43 am *
We're retired and in a good position at 30/70 (out of dumb luck because of a rollover that put a hunk into cash in early Feb). So we are home and secure and healthy, so far.

But rejoice? No. I'm thinking of all the people who staked their retirement and need the income. And of the folks who, because of the business downturn that will follow, will lose their jobs. And of the people who won't be able to pay their mortgage, or pay a doctor, or put food on the table because their jobs snuffed.

Q2 news is going to be abysmal and that will bring on another round of selling. We'll bungee-jump this thing downward a long way yet---just my hunch.
On the other hand, adversity will bring out the best in a lot of people. That happens too.

But, Rejoice? no.

Rus.
+1,000.

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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by KlangFool »

OP,

I am doing TLH. If my 5/25 band triggered, I will rebalance. My fixed income and the emergency fund prepared me for 5 years. But, there is no guarantee that the market might recover and I might lose my job too.

KlangFool
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by dknightd »

HomeStretch wrote: Thu Mar 12, 2020 8:37 am Not panicking but not rejoicing either. It’s not fun to see a loss of 4-5 years of living expenses just before spouse’s planned retirement this year. Hopefully this doesn’t lead spouse to consider OMY...
I probably would have considered OMY if this had happened during my last year of work . . .
If you value a bird in the hand, pay off the loan. If you are willing to risk getting two birds (or none) from the market, invest the funds. Retired 9/19. Still working on mortgage payoff.
mdavis6890
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by mdavis6890 »

I think people sometimes forget that account balances, stock prices, etc are just numbers - but they represent ACTUAL things that we have or don't have. Tomatoes, haircuts, houses, shoes, doctor visits, beef, heart transplants, etc.

It's too easy to imagine that we're in a [positive sum] casino and just betting on numbers that come up, maybe like card-counting blackjack. Sometimes we win and sometimes we lose. But that's not reality. Casino games ARE entirely artificial and the numbers don't represent anything beyond the game, but the economy is REAL stuff.

This coronavirus will cause us to have less as a society of the things that matter to us, regardless what our account balances are.

Rejoicing at the smaller pie that we all have slices of is not a healthy perspective.
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Nestegg_User
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by Nestegg_User »

Sandtrap wrote: Thu Mar 12, 2020 7:57 am Not rejoicing.
Not doing anything.
Thinking about doing something, but doing nothing is doing something.

This is when an allocation of 35/65 floats in the storm like Noah's Ark.
Although, the animals are getting pretty upset from the turbulence.

Don't just sit there. . . do nothing.
j :happy

retired and having an IPS that said 45% equities, but having done some profit taking on 11/27 and not immediately reinvesting, we were just above 40% prior to the downturn...we have quite a bit of "dry powder".

SO looked at losses for the year... just over 100k... so not bad at all, the allocation was doing just what it was supposed to do, but as I've said in other threads, I'm keeping my ammo until the end of the quarter where I'll decide to buy then or wait one more quarter. I've been able to SWAN knowing that we've set ourselves up for relative safety and will easily stay with a couple of mil, paid off house, pension, and can start SS anytime if we want.

What we also understand are those around us that aren't nearly as fortunate. This is one of the few times in history of the US that individuals will have been exposed to three major shocks within twenty years: 2000, 2008, and now. Prior times of such large shocks (civil war through to the 1907 panic and then post WW1 drop, or the 1890's, 1907 panic, and then Recession) were both over a longer period. The major downside of those earlier periods was the absolute failure of banks as well that totally wiped out those not even in the market. Thankfully, the changes by FDR in 1933 relative to banking, 1940 (SEC), have kept some of the carnage to lower levels, in addition to the stop loss switches that have been enacted more recently. Remember that we also have social security in todays world... those losing everything in prior times, and also losing jobs, were in a much worse world of hurt (notwithstanding that current individuals will still be greatly affected).
Last edited by Nestegg_User on Thu Mar 12, 2020 9:04 am, edited 1 time in total.
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midareff
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by midareff »

Dammmm ..... NBA cancelled the season. Viking and Princess have temporarily ceased departures. China blaming the Wuhan virus on the USA. Is there something happening in the stock market I should know about? 42% equities, 54% bonds, 4% bank cash/CDs. LOL, if you think stock up lines are bad in the toilet paper aisle try the liquor store. .. more than just a couple of shopping carts full .. is bathing in beer a new style?
SGM
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by SGM »

The damage to the economy is far from over. No rejoicing, buying or selling.

I will attend a lunch meeting of 50 people today and sit far apart from fellow attendees. Our farm renter missed a soy bean meeting. Is there anything more boring than a soy bean meeting? Two venison pepper sausage bolognas may help us avoid grocery shopping for a while. I expect a bushel of oysters to show up on my front porch next week. And then crabs will start moving north. :D

I wash my hands a lot and practice social distancing.
davebo
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Re: How many people with 7 figure portfolios are”rejoicing ?”

Post by davebo »

I just entered 7 figures, but at this point might be teetering. I'm 41 and, while I have a long way to go, I'm not exactly thrilled about all the uncertainty. I was thinking last night that I should just sell 50%, take some money off the table, and then help myself sleep better. Today I woke up and remembered back in 2008 when I started investing heavily into my 401k, 529, etc. and how much those funds have grown over the last 12 years. All in all, I'm way ahead so I'm going to ride it out.

I think the panic is good for the long-term outlook of the coronavirus. If people didn't panic, they would continue with their normal activities and things would get much worse. Realistically, once we start to see the benefits of our efforts here in the US, I would expect the market to whipsaw back with great force.
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