Markets - Montana Owners Club

richfaa · 02-05-2010, 07:06 AM

For those that watch the markets you may have noticed the bottom has fell out over the last few days. It is not just here..It is global'

Commodities

Oil down 2.93 just today at 70.21
Gasoline futures down 8.11 today alone...

The dollar is up causing some of the plunge.

Holy Moley.....

racerjoe · 02-05-2010, 07:58 AM

What I am trying to understand is that the markets are reacting to several countries that are having credit problems. You know it had to be going on for sometime now, why then all of a sudden the markets are now reacting to this? what was wall st and others been doing all this time? I understand this could be a serious problem,but why all of a sudden? or is it that the boys needed to make some more bonus and now said the sky is falling so they can sell off and later start rebuying and making money for themselves at both ends? Thats what bothers me about this sudden drop. The good news is for us,oil and gas/diesel is falling back to something reasonable again.

steves · 02-05-2010, 08:20 AM

Rich - I told you this before...spend it before you loose it!

richfaa · 02-05-2010, 09:28 AM

That is wise advise Steve and we have been trying hard. My Dad always said that you should plan it so that you ran out of money and died on the same day. He was really upset when he was 92 years old, was unable to get around and still had money left. After they both left us we used our portion of the estate to purchase the Montana and Truck. He would have liked that. Oh..we are still losing it and not even getting a chance to spend it

steves · 02-05-2010, 09:38 AM

Sounds like your Dad was a wise man! Let me know if you need help spending it!

DarMar · 02-05-2010, 09:46 AM

Rich, I for one have always echoed your fathers words of wisdom but now have revised my line to be "you know you have lived life to the fullest when you die and declare personal bankruptcy on the same day". Problem is it's awful hard to time that just right!!!

exav8tr · 02-05-2010, 10:56 AM

Hey Rich, A Keystone dealer with a Big Sky will help you also!!!!! Think of how many more birds you could haul then......lol

Phil

adelmoll · 02-05-2010, 02:25 PM

I'm with you Rich.. I'd rather spend it then lose it on the market. Sure seems like people are playing games lately. They have such stupid reasons for grabbing their money.

Helen

DaveandDoris · 02-05-2010, 03:43 PM

Not me! I'm putting more money in! Think of it as a white sale....buy some more shares real cheap..then when the market starts going back up...earn money more quickly (much more quickly) than those who took it out.

DaveandDoris · 02-05-2010, 03:45 PM

AND, you don't lose anything until you sell your shares out especially when you do it in a down market like we are having now..

Which is part of the reason for things dropping so quickly...stockholders get a little jittery and start selling and everyone else follows along...losing money as they go, when if they would just hold on for the long run they would come out the other side just fine and probably ahead.

adelmoll · 02-06-2010, 12:28 AM

Quote:

quote: and you don't lose anything until you sell your shares out especially when you do it in a down market like we are having now..

.

Some of us are living on this and have no choice but to sell some each month. This money was saved for our retirement and that time is here.
Helen

steves · 02-06-2010, 02:01 AM

As I get older...I realize that I want to enjoy myself now while I have good health...NOT after I'm setting in a nursing home in depends and droll running down my chin - won't need or care about money then. That said there needs to be a balance to any extreme views.

richfaa · 02-06-2010, 03:15 AM

"Some of us are living on this and have no choice but to sell some each month. This money was saved for our retirement and that time is here.
Helen"... Echo what Helen says. We do not use our 401K for income (yet) but many folks do. Our 401K at the worst was down 51%. That would be a disaster to folks using the income and still is

Darwin..You bring that phrase into todays enviroment.

Steve... We are in the same club and that is what our Dad really meant. I was looking at a new truck some... years ago and could not decide if I should spend the money or not. My Dad said." do you have the money, If not I will give you some" Yes... I said I have the money.. Then get the truck now said he... You will not need it when you are 90. I got the truck..

Montana Sky · 02-06-2010, 05:59 AM

At the rate this entire market is going, I am never going to retire at the age I planned or with the amount of money I planned. Companies have frozen wages, cut bonus checks in half or out all together, rolled back staffing requirements, and now are limiting their contribution to 401K investments and stock options. Who would have thought buying a home is now a long term liability instead of an investment??

Waynem · 02-06-2010, 06:24 AM

I wonder what would happen in the world if no one knew what the market was doing, and there were no "market speculators."

A friend and I were talking yesterday and he said he wished he had all my money so he could travel with us. I told him that he makes more than I do and all he has to do is spend what he has coming in each month and not to go over that amount. Workd for us. That's why we have the "SKI mobile." (SKI=Spending Kid's Inheritance.)

The Old Fogies · 02-07-2010, 12:55 AM

Quote:

quote:Originally posted by Montana Sky

At the rate this entire market is going, I am never going to retire at the age I planned or with the amount of money I planned. Companies have frozen wages, cut bonus checks in half or out all together, rolled back staffing requirements, and now are limiting their contribution to 401K investments and stock options. Who would have thought buying a home is now a long term liability instead of an investment??

What's a"BONUS"?

When my dad retired, he and Mom would call telling us about a trip they were taking. He would always thank us and add that they were spending our Inheritance.

KDS MONY · 02-07-2010, 09:25 AM

Rich, buy Goldman-sachs stock, just read where the CEO got a $9 million stock bonus!! Apparently the stock doubled in value last year. I give up trying to understand the Market, as long as our investment guy makes us money I'm happy. Hope he can continue to do so because I'm worried we seniors are at risk to get screwed on our Soc.Sec/Medicare that we paid in for 45 years, best wishes, Jay and Kathy

Ozz · 02-07-2010, 11:27 AM

I have some investment advice, don't buy Ruth Chris Steak house when that idiot Jim Kramer tells you to...

TLightning · 02-08-2010, 07:30 AM

We must be patient. The market will be back...it always comes back...may take a while, but it will be back.

KDS MONY · 02-09-2010, 04:57 AM

Tlightning, you're right but the problem is many if not most of us are 65 not 35 and many are burning through their principal to life on because we are retired. It seems like for some it has become a race to the end, which is going to last longer the money or me??!! Kdsmony is not only the tag on our RV its our financial philosophy!! best wishes, Jay and Kathy

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