Post BREXIT where you are in FIRE?

[tripods68]

2.1 Trillion in global wealth was erased Friday which they say was the worst than Financial Crises. DOW down another 300 right now. This week doesn't look pretty. More losses to come.

We know BREXIT is a political move, not caused by financial markets. But the future of UK is looking more the "great depression" for them. Many companies that were looking to expand to UK now in questions. Near growth is non-existence.

If you are looking to retire in the next 2-3 years, how are you approaching this news, and the affect in your retirements? If you are retired, are you hedging more towards bonds? Maybe you are not worried all, and why?

https://www.theguardian.com/business/live/2016/jun/24/global-markets-ftse-pound-uk-leave-eu-brexit-live-updates

[Nutria]

If you are looking to retire in the next 2-3 years, how are you approaching this news, and the affect in your retirements? If you are retired, are you hedging more towards bonds?

If you're that close to retirement, shouldn't you already be heavy into bonds? (Or did that strategy go out of style?)

[tripods68]

If you're that close to retirement, shouldn't you already be heavy into bonds? (Or did that strategy go out of style?)

The standard recommendations for most FA (I'm not one) I think is 50/50 (bonds/equity) some recommends 40/60 (equity/bonds). The question ask if you would be more heavy towards bonds allocation like (70 bonds/30 equity) after Brexit.

[97guns]

i view investments as 2 classes, paper assets and hard assests. i've owned zero paper assets since 2009 and its served me well. a paper asset can go to zero but a hard asset will always have intrinsic value.

i used paper assets to make money, now i use hard assets to preserve it because the last thing i want to do is go back to work. gold has been a store of wealth for the kings and pharaoh long before jesus

[Fishindude77]

Where does a person even buy gold?

[Nutria]

Where does a person even buy gold?

Google "buy gold". It's quite easy, but might require a "hold" for a few days after the check clears.

[disneysteve]

If you're that close to retirement, shouldn't you already be heavy into bonds?

If you are retiring and have a 20-30 year lifespan to look forward to, you need to maintain a substantial exposure to equities.

[TexasHusker]

If you're that close to retirement, shouldn't you already be heavy into bonds? (Or did that strategy go out of style?)

Bonds can break you a**, too.

[TexasHusker]

Where does a person even buy gold?

You can buy a paper representation of it through your stock broker. The ticker for silver is SIL, and the ticker for gold is GLD. Of course, that's just a piece of paper - you don't actually hold the metal.

If you would prefer to hold the metal, you can go down to your local Gold/Coins/Silver store and they will sell you the metal at current spot price, plus a handling fee.

[greenskeeper]

Where does a person even buy gold?

http://www.apmex.com/

[sv2007]

2.1 Trillion in global wealth was erased Friday which they say was the worst than Financial Crises. DOW down another 300 right now. This week doesn't look pretty. More losses to come.

We know BREXIT is a political move, not caused by financial markets. But the future of UK is looking more the "great depression" for them. Many companies that were looking to expand to UK now in questions. Near growth is non-existence.

If you are looking to retire in the next 2-3 years, how are you approaching this news, and the affect in your retirements? If you are retired, are you hedging more towards bonds? Maybe you are not worried all, and why?


https://www.theguardian.com/business...t-live-updates

No real effect to my retirement; I did lose a lot of money (and likely continue for a while) but I'm happy to have actually hedged it against an even bigger lose. I think most people who have navigated the major 2001/08 crashes aren't too concerned; this is like one of those mini crashes that come every now and then (except this one was well broadcast so most people can prepare for it if they wanted to).

[Nutria]

http://www.apmex.com/

You too, huh?

[LivingAlmostLarge]

I lose a ton of money in our investments. Oh well. Everything is still invested and we're just going to leave it invested. It'll all work out in the long term. I hate trying to time the market.

[bjl584]

I've lost thousands of dollars, but I'm a couple decades away from retiring, so I'm staying the course. No need to panic. The sky fell back in 2008, and everyone's accounts have came back and then some since then. This will pass too.

[Nutria]

I've lost thousands of dollars, but I'm a couple decades away from retiring, so I'm staying the course. No need to panic. The sky fell back in 2008, and everyone's accounts have came back and then some since then. This will pass too.

From the Thursday close to the Monday 11AM ET low, the S&P500 lost 5.7% and seems to have stabilized since then (although it was only 5 hours ).

We'll see what happens today!!!