[QUOTE=blues;1075206]Financially, stay the course with a risk profile that fits our current circumstances. That means a relatively low exposure to equities and more fixed income (for stability and safety, not for income).
That is not good advice for younger people in general. Maybe for a retired person such as yourself. I will not give advice, but the BIG run up in the market just happened. It could fall back, and would not surprise me. I am not dogging on you, but that advice needs to be qualified......
[QUOTE=Eric_L;1075367]That's why I mentioned for our circumstances. When I was working and putting away for retirement, I had very little in bonds or fixed income.
But, unless something drastic changes, I don't need to take on additional risk as our income exceeds our expenses by a comfortable margin. (And I have enough salted away in safe investments to adequately cover my wife if I predecease her and she lives on my survivor benefit.)
It's not rocket science, but it does require some amount of consideration and thought, for sure.
And I did not provide financial advice in my earlier post. I spoke only to what "we" are doing in "our" circumstances.
Last edited by blues; 06-29-2020 at 04:35 PM.
There's nothing civil about this war.
Yep, this right here.
There was a lot that we collectively could have done to be in a better position as gun owners (even up to very recently), but we have crossed that particular rubicon, and its mostly a matter of reaping the consequences of our own actions now.
We could talk at great length about what we could have done differently; I think that collectively we could have done a much better job of demonstrating that firearms are a social leveler and a check on government over-reach, but the one-two punch of the way we as gun owners participated in, and then reacted to the covid protests followed by the BLM protests pretty much torpedoed that in the gun skeptics eyes. Messaging and defense will be a huge challenge when defending 2a.
That said, there are a few things that I will personally be doing regardless of who wins:
- I will remain a responsible and well regulated gun owner that obeys the law
- I will continue to practice the fundamentals of firearm use like sight alignment and trigger control that work no matter what
- I will continue to be a strong defender of 2a with outreach to my more liberal friends via introductory range trips and compelling arguments that are couched in the language of the left (they will never vote for a conservative again after this admin, but I can stop them from demanding that "common sense" laws take priority)
- I will spend more than usual, putting away ammo cases and components in storage before prices spike in last min panic
- I will continue to work out, and work on my mental/soft skills; because physical and mental fitness are used every single day, and nobody can outlaw critical thinking or cardio (they can try...)
There are a few other things I am interested in outside of guns that I would like to work on, but that are not options to me right now. This covid crisis / civil unrest has really made me appreciate the value of having independent power production. I would love to get a solar/battery home system (ideally with a grid tie in), and potentially an electric vehicle I can charge off of it. I already enjoy working outside, gardening/firewood ect, but I am interested in dabbling in beekeeping for a variety of reasons, I have just never had the property to do it in a viable way. I am hoping that I may have the opportunity to purchase some at some point during the coming progressive apocalypse.
TLDR: Keep on gunning, and work on some other stuff that does not care who is in power.
Edit: I will also continue to max out my retirement savings in my Roth accounts, because I am fairly confident that the tax rates that we are paying right now are the lowest that I will see in the rest of my lifetime. I don't mind paying my civilization participation fees, but actions now will have a much bigger impact down the road when I want to actually use that money to live.
Last edited by JDD; 06-29-2020 at 06:10 PM. Reason: saved round
Not a bad plan. A nice retirement account thru deferred savings will be a godsend once you retire. Then downsize and spend the bare minimum to live. Pay off all your debt before you retire or soon after. My wife and I are living on half of our working income in retirement and we aren't missing those big paychecks. The gov't can't tax income you don't have and they can't tax your retirement until you actually turn that into income. With the coming federal and state debt load they will for sure jack your taxes into the stratosphere. Things are going to go sideways for a lot of people who are living with massive debt without a half a million in the bank and some type of pension. The sad part is pensions may not be a safe bet depending on dwindling market returns and poor management.
In the P-F basket of deplorables.
True, but that's investment capital. That would involve congress changing the IRS code. You don't honestly think congress critters are going to cut their own throats, do you? Congress critters use the same investment vehicles the rest of us use. That's why the IRS tax code is about 75,000 pages.
In the P-F basket of deplorables.
What makes you think the future progressive government will let you keep those 401K and IRA savings versus redistribute that wealth?