dkennedy
Senior Member
When is everyone moving their 401K money to a safe option? Selling off their other investments, paying the taxes on the gains? Then riding the storm out, with the money on the sideline to reinvest after the crash?
When I retire about 10-12 years from now. I'm just going to have to ride it out.When is everyone moving their 401K money to a safe option? Selling off their other investments, paying the taxes on the gains? Then riding the storm out, with the money on the sideline to reinvest after the crash?
At this point I have pulled all my cash from the market and am on the sidelines looking for opportunity. My 401k's are still a bit on the aggressive side as the market is still waiting for Joe's stimulus package to come out and I don't think we will see any big shift in markets until around his first 100 days so I feel I still have some time to get a little more before shifting them to much more conservative holdings.
probably not a bad idea thereI’m not contributing anymore. Taking monthly distributions from both. I moved 5 years worth of distributions amount into stable/cash.
That is certainly one advantage that age gives you. When you're still 10-12 years from retirement trying to maximize growth like me, it's hard to bring yourself to move it from stocks to money market/bonds/etc.I’m not contributing anymore. Taking monthly distributions from both. I moved 5 years worth of distributions amount into stable/cash.
That's a clever way to do it.been selling out of the money options on my winners for some income. worst case i get called out with a bigger profit
Or when you're making more money than you thought possible a few years ago.That is certainly one advantage that age gives you. When you're still 10-12 years from retirement trying to maximize growth like me, it's hard to bring yourself to move it from stocks to money market/bonds/etc.
yep, thats what i tell people who dont understand the marketI would suggest considering target date funds. Example target date 2030 for someone planning to retire in 10 years.
The managers of these funds adjust the funds as needed to proper amounts of stock/bond/cash for an investor in that age group.
i am retired but a gambler. you can leave you money in your 401k after you retire to avoid taxes on it. now days commissions even on options is almost nothing, i'm with fidelity and its like $10-20 a contract. i own good stocks now like nvda ($540 a share) 300 shares and sold feb 19 $565 calls on it today for 14.50 which made me $4150. my cost on the shares is $523. so even if i get called out on them i do good. if you know options and own good stocks its a smart play right now !!! and the total commission on it was $2That's a clever way to do it.
Back in the day, I was friends with a stock broker that specialized in income from covered calls. Course he made commission on both sides, that made him happy.
yep, thats what i tell people who dont understand the market