Share what worked in your plan during the crisis

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dmcmahon
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Re: Share what worked in your plan during the crisis

Post by dmcmahon »

Having an adequate allocation to bonds and having them 100% in us treasuries or CDs has helped, as has putting them into a ladder and a buckets-like approach with cash flows well matched to needs for several years.
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TierArtz
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Re: Share what worked in your plan during the crisis

Post by TierArtz »

Very stable job
Guvment Pension
25 years expenses in bonds (roughly 40%) at start
Reduced bond holdings to 20 years expenses to re-balance/buy low
Tax loss harvesting
Resisted doing anything too stupid (stayed on course, but the worst may be ahead of us)
smectym
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Re: Share what worked in your plan during the crisis

Post by smectym »

TheTimeLord wrote: Sat Mar 28, 2020 12:51 pm A lot of people seem to be re-evaliuating and modifying their plans based on recent events. For those who feel their plans performed well what is a key or two that you can share.
cash, which we hold a lot of, has worked well. Treasuries on some days during this rout have been a life-saver; On other days, though, have exhibited a troubling tendency to correlate with stocks in drawdown. Ouch! Our SPX holdings have dropped less than more adventurous stock index funds. Munis crumbled; We are out of those now for the time being. Investment grade Corporate bonds have not performed well, and indeed the Fed had to ride to the rescue: Not a good sign.

It’s been a rough ride overall; some relative bright spots.
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meowcat
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Re: Share what worked in your plan during the crisis

Post by meowcat »

What worked for us was "staying the course". We DCA's all the way down to the bottom, and this was with a 100% equity portfolio. I always joke that most of our net worth was born out of the great recession, we just didn't know it at the time.
More people should learn to tell their dollars where to go instead of asking them where they went. | -Roger Babson
jebmke
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Re: Share what worked in your plan during the crisis

Post by jebmke »

About 20 months ago I realized that my bond holding was over weighted in munis and corporate (via Investment Grade funds). I shifted some of each to treasuries and brokered CDs.
When you discover that you are riding a dead horse, the best strategy is to dismount.
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Tamarind
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Re: Share what worked in your plan during the crisis

Post by Tamarind »

mega317 wrote: Sat Mar 28, 2020 1:46 pm I feel I had properly assessed my risk tolerance ahead of time, so when the inevitable happened, I didn't really have many emotions. I think this is really hard to do, if not impossible for someone who hasn't been through a large stock drop. Another thing is simplicity.
Yes, this really matches my thoughts. I have a lot of feelings about COVID but thankfully none of them are about finances. I'm 75/25 and got to see panic once before as I was just starting to invest in 2008, so it feels familiar. I hit a rebalancing band and was able to pull the trigger on rebalancing that day. Otherwise everything is already on autopilot and there's nothing to do but worry about and try to take care of my family and community.

For me this has really underscored the value of fully automating investment contributions (timing, fund, and amount all set in advance). It is usually a convenience but right now it also makes it less likely I'll be tempted to "do something". Just keep buying with each paycheck.
sj2000
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Re: Share what worked in your plan during the crisis

Post by sj2000 »

I am 34 with an 80/20 AA and about one year expenses in cash (excluding investment accounts). We have also embraced the living below our means lifestyle (50%+ savings rate) thanks in large part to this forum and the FI movement. I have seen a lot of posts over the years since I starting following this forum that often led me to believe I was too conservative in AA and that my goal to have one year expenses in cash would harm my long term returns. During this time period it has become abundantly clear to me that my choice is right for me.

I believe I have learned another valuable lesson the last few months. Although I do not post often, I read this forum regularly due to the value and perspective it adds. The Boglehead philosophy encourages tuning out “the noise” and staying the course. I have realized that much of “the noise” can also come from this forum if you let it. There have been a lot of posts over the years promoting more aggressive AAs and holding less cash in order to not sacrifice returns. If I had listened, I don’t think I would be sleeping as well now. I am comfortable with my choice, tune out the noice and keep on saving. The only question I keep asking myself I credit to Klangfool.

1) What is your annual expense?

2) What is your annual saving as compared to the annual expense?

I have incorporated these two questions into my IPS to ask myself annually. As 1 stays the same or decreases and 2 continues to increase, I have realized that this is the core of any successful strategy. The rest is just details.
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Archean
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Re: Share what worked in your plan during the crisis

Post by Archean »

Having four years of expenses in stable MM/laddered CDs (we are retired).

This has been an interesting test of our chosen AA. I distinctly remember feeling that 40/60 was too conservative last year ("missing out"), but now feel it is about right. Of course, things may continue to get worse in the near future.

I also appreciate this forum, including threads such as these that go beyond the mechanics of specific investing issues (TLH, etc).
"Archean - an early geologic eon before index funds"
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knpstr
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Re: Share what worked in your plan during the crisis

Post by knpstr »

TheTimeLord wrote: Sat Mar 28, 2020 12:51 pm A lot of people seem to be re-evaliuating and modifying their plans based on recent events. For those who feel their plans performed well what is a key or two that you can share.
Not panicking
Very little is needed to make a happy life; it is all within yourself, in your way of thinking. -Marcus Aurelius
hudson
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Re: Share what worked in your plan during the crisis

Post by hudson »

ge1 wrote: Sat Mar 28, 2020 11:01 pm I realized in 2008/09 that we had too much in equities, so over the years i decreased our allocation to stocks to 40% due to low need to take risk and valuation concerns.
I learned in 2008 that I no longer wanted to own any stocks.

What worked during the crisis?
I didn't make any changes during the crisis except to sit tight.
Over the last year or so, some attractive CDs showed up, so I swapped bonds for CDs. That worked out better than I thought, but I still have to pay some taxes.
Right now CDs look good...but they may not work next time.
retiredjg
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Re: Share what worked in your plan during the crisis

Post by retiredjg »

What worked for me was having a stock to bond ratio I can live with in the bad times - about 50/50 - and having a realistic expectation of how much of my money will disappear in a downturn. Rebalanced twice so far.

Of course, the G Fund is awesome at times like this.
2cents2
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Re: Share what worked in your plan during the crisis

Post by 2cents2 »

CD bond ladder for near term expenses (DH retiring soon). Liquidity is great in a situation like this.

Don't just do something, stand there -for everything else. It is disconcerting to see the balance go down, but I can't think of a better plan. We have reached the re-balancing band, but I am waiting for things to be a little less volatile before making any moves. (Plus, we will be taking distributions from the bond side of things pretty soon, so that will help towards the re-balancing goal).
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David Jay
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Re: Share what worked in your plan during the crisis

Post by David Jay »

The remainder of 2020 living expenses and all of 2021 living expenses in Money Market. No worries about short term market movements or “shelter in place”.

(OK, TP was a bit of a concern...)
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MikeG62
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Re: Share what worked in your plan during the crisis

Post by MikeG62 »

What’s worked for me was having an asset allocation appropriate for my risk tolerance. That is <40% equities (at the market top) with the rest in fixed income/cash (a sizable % of that in FDIC and NCUA insured CD’s). The CD’s have worked beautifully.

I’ll admit I was surprised at the sharp sell-off in bonds (of all flavors) at the same time the equity market was declining. That was a real eye-opener. Thankfully the Fed and Treasury took decisive and unprecedented action to stabilize the credit market.
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cashboy
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Re: Share what worked in your plan during the crisis

Post by cashboy »

50/50 AA based on several things - including BH ADRIAN's RULE (50% tolerable equity loss)

Bond Fund as the bond part of my AA (FXNAX)

a solid IPS that accounts for the good, the bad, and the terrible - AND has flexibility.

reading BH 'stay the course; don't panic' threads, and ignoring the rest.

looking forward by concentrating on the eventual recovery.

coffee
Three-Fund Portfolio: FSPSX - FXAIX - FXNAX (with slight tilt of CDs - CASH - Canned Beans - Rice - Bottled Water)
markcoop
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Re: Share what worked in your plan during the crisis

Post by markcoop »

To me, what is unique during this crisis has been the speed of things. Hitting rebalancing points in days, rather than years. I have found it comforting to have my next move planned out assuming tomorrow will bring a 10% increase or a 10% decrease. I knew exactly what I was going to do before the day began assuming certain points were hit. Limit orders have been particularly helpful in that preparation. I never thought ETFs were better than regular mutual funds, but limit orders are a huge advantage.

This wasn't in my plan, but rather a reflection of something that helped me implement my plan.
Mark
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Re: Share what worked in your plan during the crisis

Post by flaccidsteele »

TheTimeLord wrote: Sat Mar 28, 2020 12:51 pm A lot of people seem to be re-evaliuating and modifying their plans based on recent events. For those who feel their plans performed well what is a key or two that you can share.
Market timing during a bear has worked well for me in the past

So I did it in 2020

It’ll work out again. It always does
The US market always recovers. It’s never different this time. Retired in my 40s. Investing is a simple game of rinse and repeat
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Go Blue 99
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Re: Share what worked in your plan during the crisis

Post by Go Blue 99 »

We have about 20 months of expenses in our e-fund. That's helped with our financial stress level.
Always passive
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Re: Share what worked in your plan during the crisis

Post by Always passive »

Do not be gready in fixed income for another % or so. The below statement (not mine) was much help..
"Try to take most of your risk on the equity side of the portfolio and leave the fixed-income side of the portfolio to be there for capital preservation to help reduce the volatility of the portfolio."
I only own treasuries
Olemiss540
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Re: Share what worked in your plan during the crisis

Post by Olemiss540 »

Knowing the majority of money I have invested is still UP and knowing that as long as I continue to stay the course and invest through this recession I will end up MUCH more successful once we are out of it.

Regret does NOT exist in my investing vocabulary. I dont care what happens today or tomorrow, when I decided to invest in equities I made the conscious decision it was for the future and not for tomorrow. Regretting that decision only adds to the anxiety we all feel during uncertain times while sulking on what could happen tomorrow or what happened yetssterday.

My financial ruin is not going to be because of my investment decisions but because of things that are well outside of my control. Grabbing ahold of my current net worth may save a few thousand, but leaving it to grow may guarantee my future and my family's future. Try not to focus on the potential negatives but the actual positives.
I hold index funds because I do not overestimate my ability to pick stocks OR stock pickers.
Rus In Urbe
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Re: Share what worked in your plan during the crisis

Post by Rus In Urbe »

*
Retired in December. No debt (ever); one home paid off long ago; we live frugally and lavishly (yes, that's possible, depending on your values and what floats your boat).

In the run-up to my retirement date, my mindset was: "Correction/downturn is overdue. The first five years of retirement are critical. Therefore, I need to build a lot of backstops."

Here's how we set it up:
Our expenses are covered by SS from both of us, and DH's RMDs (from an account set at 30/70 AA). Several years ago, I set up a 5-year CD ladder at 3.1%---3.4%. Kicks up 40K of extra cash each year---my plan was to use this if we wanted a new car or some fancy vacation, help the kids, if we wanted to make a large philanthropic gift, or toss some back into the market.

When the crisis hit, we didn't need to do anything at all.

During the Great Recession, we just plowed forward, adding to our accounts and not getting too excited (we were years away from retirement of course); as I have written numerous times on this board (and gotten a lot of pushback for), in the darkest days, I concentrated on how many SHARES I owned and could purchase at a bargain price, rather than how much (on paper) wealth I had. I came out of that recession 18 months later with the same amount of money but MANY, MANY more shares, which of course accelerated in value as the years went by.

This time around, we've just been plowing forward. Not worried. We are the lucky ones though.

Like Warren Buffett says-----be fearful when others are greedy and to be greedy only when others are fearful. That really does work. It surprises me sometimes to read posts by fellow BHs, especially right now, that run counter to this precept.

Best to all..... Rus. :beer
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eldinerocheapo
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Re: Share what worked in your plan during the crisis

Post by eldinerocheapo »

What's working in our plan during this crisis?

Single Malt Scotch...........lots of it!
"Do, or do not." Yoda
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nisiprius
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Re: Share what worked in your plan during the crisis

Post by nisiprius »

Knowing myself and my risk tolerance and not having too much in stocks has "worked," at least to the extent that the performance of my investment portfolio is not even in the top ten things I'm worried about.

For example, only just having started to get the hang of using InstaCart, it worries me that they are going on strike tomorrow. I've worried that delivery services might not be sustainable with so many of us staying at home, but I didn't expect it to break down this soon!
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
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Will do good
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Re: Share what worked in your plan during the crisis

Post by Will do good »

I follow Sheepdog's advice to have 3 years living expenses in CD, 1 year in short term bonds. The rest of the AA is what I'm comfortable with.
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iceport
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Re: Share what worked in your plan during the crisis

Post by iceport »

TheTimeLord wrote: Sat Mar 28, 2020 12:51 pm A lot of people seem to be re-evaliuating and modifying their plans based on recent events. For those who feel their plans performed well what is a key or two that you can share.
I couldn't even tell you; I'm still bored. Don't get me wrong, I'm as disappointed as anyone about losing 1/5 of my life savings, but there's not much for me to do about it. :| I'm definitely not re-evaluating or modifying my plans.

The 56% equity/44% fixed income AA target had drifted towards equities before the crash, with US equities bumping up against their individual +/-20% re-balancing bands, producing a 60/40 AA. I was just about getting around to thinking about re-balancing when the crash hit.

So far, it's bottomed out at 51/49; I was planning to re-balance in the other direction, to top up the equities again. But now after last week, I'm back to 53/47, and my holdings are all within their re-balancing bands.

I TLH'd my total international stock market holding already, and can TLH my emerging markets holding any time now, but other than that, I've got nothing to do...
"Discipline matters more than allocation.” ─William Bernstein
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Sandi_k
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Re: Share what worked in your plan during the crisis

Post by Sandi_k »

TheTimeLord wrote: Sat Mar 28, 2020 12:51 pm A lot of people seem to be re-evaluating and modifying their plans based on recent events. For those who feel their plans performed well what is a key or two that you can share.
We had a plan. Having a plan has meant we've done nothing, other than what we've done for years:

- DCA with every paycheck.
- We only check account values once per month.
-We have a written IPS that guides rebalancing decisions.
- We LBYM - 50% of our income goes to taxes, insurance, and savings. Not a lot of lifestyle creep.
- 68%/32% asset allocation. At a planned SWR of 3.5%, that means we have nearly nine years of drawdown in bonds.

I'm a little stunned at how fast the bottom fell out of *both* stocks and bonds. But the AA means the entire portfolio has only declined by 22%.

We didn't panic sell, and we don't need the money right now. So we're calling that a win for our plan.

Going forward? Maybe we'll move more funds into treasuries or CDs. But that doesn't feel like a huge change in the plan.
LM3
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Emergency fund, emergency fund!

Post by LM3 »

[Merged into the existing thread- Moderator Misenplace]

I am so glad I saved enough emergency fund! 50k in Vanguard Treasury Money Market and 60k in iBonds. Not long ago I kept doubting if my emergency fund is too much or too conservative. Now I am really glad. Also I don't care and don't check how much loss is in my 401k. I am still employed fortunately but even if I lose my job, my family of 4 (I have 1 preschooler and 1 first grade) can still live well for at least a year. This pandemic really teaches us the importance of emergency fund.
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FelixTheCat
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Re: Emergency fund, emergency fund!

Post by FelixTheCat »

The "pay off your house" advocates are happy as well.
Felix is a wonderful, wonderful cat.
Colorado13
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Re: Share what worked in your plan during the crisis

Post by Colorado13 »

Having 2-3 years of expenses in my Ally accounts, earning next to nothing, gives me comfort in case I lose my job. Job loss is not likely, but anything is possible.
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CULater
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Re: Share what worked in your plan during the crisis

Post by CULater »

Larry Kotlikoff advised selling all your stocks 3 years ago, and followed his own advice. That turned out well.
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Shael_AT
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Re: Share what worked in your plan during the crisis

Post by Shael_AT »

18 Month Emergency fund (assuming 0 lifestyle change, and 0 unemployment, never touching 401k, roth ira, hsa or brokerage).

"Wow that EF is too big you only need 3-6 months"
"Why don't you invest 1/2 to 2/3 of that into the market? Think of the gains you are losing!"
"Come on dumb dumb, take 12 of those 18 months and lock it into your house"

All from people who lived through .Com and Great Recession, some on this board...

Feeling pretty good these days. If anything, I'm thinking of upping the ante' to 24-36 months. Slept super well since this started and allows me to focus on my health, family, friends and career development without any underlying stress or tension.

I guess "Large Pile Of Cash" is my answer. Working out super swell.
curmudgeon
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Re: What worked

Post by curmudgeon »

FelixTheCat wrote: Fri Apr 03, 2020 12:29 pm The "pay off your house" advocates are happy as well.
When I retired three years ago, I suppose I prepared for this crisis (though with little expectation of needing those preparations). Up until that point, I was 100% equity, with leverage in the form of mortgages on two houses we owned. At retirement, we downsized out of the larger house, paying off the mortgages, reducing the fixed overheads (taxes, utilities, etc). Most of the rest of the cash from the sale of the house went into cash and cash-like investments, to create a bridge until claiming social security.

There have been times in the past three years where I (or my wife) somewhat regretted the downsizing (the house, even though large, had a floorplan which worked very well for the two of us). Now, it's really nice to be able to leave the financial side out of our concerns.
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HomerJ
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Re: Share what worked in your plan during the crisis

Post by HomerJ »

Triple digit golfer wrote: Sat Mar 28, 2020 2:11 pm Bonds.
Ding Ding Ding!

Worked for me too... And a paid-off-house, so base expenses are low.

45/55... Got enough in bonds to last 10+ years... And that's if I lost my job... which I haven't yet.

So I don't have to care about short-term stock movements.
A Goldman Sachs associate provided a variety of detailed explanations, but then offered a caveat, “If I’m being dead-### honest, though, nobody knows what’s really going on.”
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burt
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Re: Share what worked in your plan during the crisis

Post by burt »

Age 64 and retired.
30/70
4 years ago, I retired and moved to a small rural town with low cost of living.
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Ramjet
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Re: Share what worked in your plan during the crisis

Post by Ramjet »

CULater wrote: Fri Apr 03, 2020 1:54 pm Larry Kotlikoff advised selling all your stocks 3 years ago, and followed his own advice. That turned out well.
Guessing he advised selling due market fundamentals, not Coronavirus. You can be right and wrong at the same time.
Atilla
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Re: Share what worked in your plan during the crisis

Post by Atilla »

Having a paid off house, no car payments or any other debt and living a lifestyle at 25% of our actual income has worked out real well.

Incomes for both of us are taking big hits, but we don't have money problems (yet).

We could run the household on just unemployment payments if we had to and not have to dip into savings at all.
pahkcah
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Re: Share what worked in your plan during the crisis

Post by pahkcah »

Since DW and I each have COLA'd pensions and SS, and not dependent funds on our tax-deferred accounts, I have been able to portion off a good piece of our tax-deferred accounts into individual stocks. Several years ago I decided to invest this money in an area that would perform fairly well whether the economy was performing well or not so well. The ultimate decision was to invest in consumer discretionary and staple retail firms that people would rely on in times such as the one we are going through (economically speaking). I also wanted to invest in companies in the biggest economies: the U.S. and China. I purchased Amazon (AMZN), Walmart (WMT), Alibaba (BABA), and JD.com (JD). So far, the strategy has held up well. These companies may be down somewhat, but nowhere near the general market.

Please note: I consider the money invested in the individual stocks to be my "play money". The rest is totally invested in VTI and the Government TSP C and S funds.
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cockersx3
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Re: Share what worked in your plan during the crisis

Post by cockersx3 »

Paying off my mortgage, rather than keeping it and having my money invested, was a good move for me. Can't imagine the disappointment I would have now, knowing that I passed on a chance to be debt free. Being able to keep my expenses very low makes the recent market ups & downs much easier to stomach.

I've realized that my asset allocation is about right (40% bonds, 60% equities). Nice to have around 10 years of living expenses in bonds that I can liquidate at a reasonable price if needed. Again, sleeping well at night is worth it for me.

Realized that I've married the right woman. She hasn't once brought up how our investments are doing, despite all of the bad news on the markets that is impossible to ignore. She just says that it doesn't matter 'cause we're in it for the long haul. She even wants me to keep an eye out for potential bargains.....!

Tax loss harvesting isn't as difficult as I thought it would be (not sure why I thought that.) I've locked in about $60K in paper losses that should wipe out dividends and capital gains taxes for the next few years for us. (And yes, I've read all the articles and am being very careful about wash sales, etc).

Glad I keep a decent stock of frozen food, groceries, and ammo at home. Watching the rush on these things now (especially ammo - good grief) and am glad I don't have to scramble for it.

Finally, I'm glad I ignored the wife's advice to throw out some of my old electronics. Now that my wife and kids are all working from home at the same time, I've been able to cobble together enough parts to build good workstations for everyone (using their own laptops). Beats having to mail order parts or get Staples delivery, assuming it's even available - seems like demand for PC accessories has gone way up since all of this started.
MathWizard
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Re: Share what worked in your plan during the crisis

Post by MathWizard »

No debt
Large EF
50/50 AA (Change from 100% stocks 3 years ago)
Dead Man Walking
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Re: Share what worked in your plan during the crisis

Post by Dead Man Walking »

The equity portion of my portfolio was higher than my plan specified; the correction rebalanced my portfolio. Having an asset allocation that matches my ability, need, and willingness to take risk helped. Treasury bond funds, savings bonds, CDs, and savings accounts worked. Vanguard Global Minimum Volatility Fund worked well. My other equity funds didn’t hold up very well.

DMW
ccf
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Re: Share what worked in your plan during the crisis

Post by ccf »

What worked for me - having a plan.

I am in my 40s so my plan was based on things that have happened in my investing lifetime. I stuck to it and my only regret is not making a plan for rebalancing that took both taxable and tax deferred into account.
Normchad
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Re: Share what worked in your plan during the crisis

Post by Normchad »

The elements of my plan that worked well for us:
1) Mortgage paid off
2) A nice cash cushion in the bank
3) A portfolio in which I am indifferent if it goes up or down

But as with a lot of things in life, we really have benefited from things that we never planned for; ie just plain lucked out.
- My job is working for a government contractor, so my customer never runs out of money, and have deemed my work essential
- Spouse works for the school system. So although she is off of work, the paychecks keep coming.

We didn't do any of this on purpose, but it makes an enormous difference. I'm pretty sure if we both lost our incomes, even temporarily, we would be stressed out beyond belief.
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TheTimeLord
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Re: Share what worked in your plan during the crisis

Post by TheTimeLord »

CULater wrote: Fri Apr 03, 2020 1:54 pm Larry Kotlikoff advised selling all your stocks 3 years ago, and followed his own advice. That turned out well.
On 1/3/2017 the market closed at 2257.83. Today it closed at 2488.65.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
Dandy
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Re: Share what worked in your plan during the crisis

Post by Dandy »

1. No debt
2. Waiting to age 70 to collect SS
3. Having a 45/55 allocation
4. Having enough "safe" fixed income
5. Being used to living below or within our means
ubermax
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Re: Share what worked in your plan during the crisis

Post by ubermax »

Don't know yet if the plan was a good one but here's my story - pre crisis we were 6/80/14 , cash, fixed, equity and post 93/7/0 where by cash I mean Vanguard Prime MM - the dual dive of both fixed and equity investments was the catalyst for the change - I'm currently maintaining two spreadsheets , one shows a continuation of our pre-crisis allocation and the other our new , but hopefully temporary , allocation - at this point in time we would have been better off staying the course but the difference is only about 1% of our 12/31/2019 asset value - the reason is the slight rebound in the equity and fixed sectors combined with larger end of month dividends than the MM accounts.

We have to wait a couple more weeks to get back into our previous funds but could jump back anytime into different ones - we've been set and hold investors regards our asset allocation mainly because dividends and appreciation more than offset our withdrawals for quite some time now - we feel that things are still very uncertain and hard to predict and so we'll wait a bit longer before getting back into the market .
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Sandtrap
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Re: Share what worked in your plan during the crisis

Post by Sandtrap »

TheTimeLord wrote: Sat Mar 28, 2020 12:51 pm A lot of people seem to be re-evaliuating and modifying their plans based on recent events. For those who feel their plans performed well what is a key or two that you can share.
Overall, DW and I are satisfied with our portfolio planning per "bogle basics".
What has really helped beyond that and causes us to sleep very very well is having:
"cash. . . lot's of cash", in various accounts which act as shock absorbers to current conditions.

Great thread.
Thanks for starting it.
j :happy
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eldinerocheapo
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Re: Share what worked in your plan during the crisis

Post by eldinerocheapo »

Reduced TIRA distribution by 66%, from $3k per mo. to $1k
Started pulling EF's from MM and cashed out one of twenty cd's for $15k. This is good for (you guessed it) twenty years.
Reviewed DW's paycheck and closed gym membership through work (they are closed anyway), and reduced her 401k to 6%. Savings of about $2.5k yearly.
Reviewed monthly budget and got both of us into lower cost cell ph plans. Tello for me @ $15 a month (they are fantastic!). Verizon for her, $38 mo.
Future plans in the coming months are to start prior company pension @ $377 a month, and possibly begin SS for me @ $2k per mo.

I retired three months ago, and never saw this coming, then again, who did? We'll soldier through, and if push comes to shove, I will go back into the work force locally. In over 47 years in the workforce, I've bussed tables, washed dishes, digged ditches, labored on construction sites, and traveled extensively in the corporate world. No type of work is beneath me, and I've always found satisfaction in a job well done.
"Do, or do not." Yoda
Shallowpockets
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Re: Share what worked in your plan during the crisis

Post by Shallowpockets »

LBYM. All expenses over 10 years shows me that essential expenses are less than 50% of overall spending so have that as a buffer. And as a whole that annual expenses (all) still put me as LBYM.
EnjoyIt
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Re: Share what worked in your plan during the crisis

Post by EnjoyIt »

Plenty of bonds, a smattering of cash, and the ability to cut back on expenses if need be.
A time to EVALUATE your jitters: | https://www.bogleheads.org/forum/viewtopic.php?f=10&t=79939&start=400#p5275418
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ruralavalon
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Re: Share what worked in your plan during the crisis

Post by ruralavalon »

eldinerocheapo wrote: Sun Apr 05, 2020 9:12 am Reduced TIRA distribution by 66%, from $3k per mo. to $1k
Started pulling EF's from MM and cashed out one of twenty cd's for $15k. This is good for (you guessed it) twenty years.
Reviewed DW's paycheck and closed gym membership through work (they are closed anyway), and reduced her 401k to 6%. Savings of about $2.5k yearly.
Reviewed monthly budget and got both of us into lower cost cell ph plans. Tello for me @ $15 a month (they are fantastic!). Verizon for her, $38 mo.
Future plans in the coming months are to start prior company pension @ $377 a month, and possibly begin SS for me @ $2k per mo.

I retired three months ago, and never saw this coming, then again, who did? We'll soldier through, and if push comes to shove, I will go back into the work force locally. In over 47 years in the workforce, I've bussed tables, washed dishes, digged ditches, labored on construction sites, and traveled extensively in the corporate world. No type of work is beneath me, and I've always found satisfaction in a job well done.
Congratulations on your recent retirement :D .

Good job on the budget review and reducing expenses. You will do fine. Be flexible.
"Everything should be as simple as it is, but not simpler." - Albert Einstein | Wiki article link:Getting Started
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