SBBC : Basketball is coming edition: Do you like pineapple pizza?

Do you like pineapple pizza?

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Revolver said:
Lmao @ being in fixed income. Your boss is dumb.
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That's the default setting, I think it's actually passive and not fixed income (not sure, b/c I never even considered that option). My fault on the misquote

It's basically a fund that shifts more towards bonds/fixed income as your retirement date approaches, but as he's in his 50s he had like zero risk going on as the date was too near

I'll put it this way, he gained more revenues this month than in his entire 3 years prior hahahaha
 
I guess the correct term is Asset Allocation funds, but ya. He was getting no gains in that bullshit
 
HunterSdVa29 said:
That's the default setting, I think it's actually passive and not fixed income (not sure, b/c I never even considered that option). My fault on the misquote

It's basically a fund that shifts more towards bonds/fixed income as your retirement date approaches, but as he's in his 50s he had like zero risk going on as the date was too near

I'll put it this way, he gained more revenues this month than in his entire 3 years prior hahahaha
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Ok. It’s one of those 30 year asset allocation funds. Which are kind of shit as well.

If you’re in your 30/40’s you should be primarily in growth and value. If they have mid and small cap even better. No need for income unless you’re risk adverse and then adjust as you get older. But that all depends on who the 401k is through. We use American funds here and their fund usually are really good.

Edit: didn’t see that he was in his 50’s. He should be in mostly large and value with income funds as well since he’ll he close to retirement soon. Sounds like you got him into what he needs to be in
 
HunterSdVa29 said:
That's the default setting, I think it's actually passive and not fixed income (not sure, b/c I never even considered that option). My fault on the misquote

It's basically a fund that shifts more towards bonds/fixed income as your retirement date approaches, but as he's in his 50s he had like zero risk going on as the date was too near

I'll put it this way, he gained more revenues this month than in his entire 3 years prior hahahaha
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Not surprising since bond markets barely move... you only make anything off their monthly dividend.

Watch the market tank in half in the next 12 months and this poor 50 yr old dude lose half his retirement because Gunt "diversified" him lol.
 
Luminaire said:
Not surprising since bond markets barely move... you only make anything off their monthly dividend.

Watch the market tank in half in the next 12 months and this poor 50 yr old dude lose half his retirement because Gunt "diversified" him lol.
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Hes an already retired marine, has VA disability and another pension thru home depot as a wknd manager the last 15 or so years...

I wouldnt have done that if it was his only retirement stream, we have a PFMP for that
 
Stopped in a bar tonight and some dude played Africa on the jukebox 5 times in a town until the manager turned the machine off lol.
 
Started watching Deuce again on HBO and got punched directly in the face with major disappointment. I don't know how I could have possibly missed calling Maggie Gyllenhhall Saggy Glylenenhal. No brainer all day long after seeing those titties.
 
HunterSdVa29 said:
That's the default setting, I think it's actually passive and not fixed income (not sure, b/c I never even considered that option). My fault on the misquote

It's basically a fund that shifts more towards bonds/fixed income as your retirement date approaches, but as he's in his 50s he had like zero risk going on as the date was too near

I'll put it this way, he gained more revenues this month than in his entire 3 years prior hahahaha
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Bonds huh. Is this TSP or something different.
 
PolishHeadlock said:
Stopped in a bar tonight and some dude played Africa on the jukebox 5 times in a town until the manager turned the machine off lol.
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1361181.gif
 
HunterSdVa29 said:
That's the default setting, I think it's actually passive and not fixed income (not sure, b/c I never even considered that option). My fault on the misquote

It's basically a fund that shifts more towards bonds/fixed income as your retirement date approaches, but as he's in his 50s he had like zero risk going on as the date was too near

I'll put it this way, he gained more revenues this month than in his entire 3 years prior hahahaha
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TBF at 50, he should be 20% in fixed income.
 
Revolver said:
Ok. It’s one of those 30 year asset allocation funds. Which are kind of shit as well.

If you’re in your 30/40’s you should be primarily in growth and value. If they have mid and small cap even better. No need for income unless you’re risk adverse and then adjust as you get older. But that all depends on who the 401k is through. We use American funds here and their fund usually are really good.

Edit: didn’t see that he was in his 50’s. He should be in mostly large and value with income funds as well since he’ll he close to retirement soon. Sounds like you got him into what he needs to be in
Click to expand...

Another reasonable approach to this are Blackrock target date funds that take risk/'time to retirement' into consideration. They can simplify things for most people.

You would surprised (possibly shocked) by how much wealth is in fixed income. I have money with a private client/institutional asset mgmt firm. They have only 5 funds (IIRC) and you buy 'units' in the funds. They have a mandated allocation to fixed income which has no real rate of return, it's there just for equity downside protection.
 
Speaking of investing, tomorrow is the 30th anniversary of Black Monday when the Dow dropped 25% (!?!?!?). My parents are notoriously cheap and lifelong savers. A few months after the crash they bought a house in uptown Toronto for $270k. $270k seemed like an enormous amount but they paid off the mortgage in 4 yrs and sold it last year for $1.4m.

There is no shame in being cheap and looking at fearful times as a moment to invest with a long view.
 
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I partied on a Tuesday for the first time since college. Shit was great
 
therealdope said:
Another reasonable approach to this are Blackrock target date funds that take risk/'time to retirement' into consideration. They can simplify things for most people.

You would surprised (possibly shocked) by how much wealth is in fixed income. I have money with a private client/institutional asset mgmt firm. They have only 5 funds (IIRC) and you buy 'units' in the funds. They have a mandated allocation to fixed income which has no real rate of return, it's there just for equity downside protection.
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Nice
 
i know exactly jack and shit about my 401k

except its set up by t rowe price
 
El Chimpo said:
i know exactly jack and shit about my 401k

except its set up by t rowe price
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You should know if it's a match or fixed contribution by your company. You should also know how it is allocated. If you don't actively direct it, your money could be sitting in a cash account earning a money market rate of return.
 
therealdope said:
You should know if it's a match or fixed contribution by your company. You should also know how it is allocated. If you don't actively direct it, your money could be sitting in a cash account earning a money market rate of return.
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i do think it is matched up to 3%
 
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