It's a bitter pill to swallow when it's a one man made problem. Pardon for not being happy to bend over and take it.
Same here, i got hit hard too, my wife's GX550 type of hit, but luckily i did sold some mid February and bought some again couple days ago. It was quite predictable though. The last 3 years gains was just too good lol.
Did you panic and sell? If not, just hang tight. You haven't lost anything. You have the same amount of shares/stocks. Now you can buy on sale. When it goes back up you will be good since the cheaper stocks purchased during the downturn will perform better than the ones that lost value. My portfolio is down about the price of a new MB G Wagon. It is dramatic and not pretty to look at but I've ridden several downturns, and it always recovers. Heck, it could happen very soon if negotiations happen.
I was 1.3m in my 401K when I retired from the power plant in 2016. I rolled that over into the retirement annuity at 5%. The new retirement annuity that I'm trying to get into is 7%.
We have a combination of assets which brings our net worth into the 7 figures. I guess, careful planning, discipline and a sprinkle of good luck helps. We feel blessed that our main house and cabin rental are paid off. Right now, we are being conservative with our spending since we are only living of my pension (not touching our 401k for the time being) and what my wife brings in as a substitute teacher. We are able to withdraw penalty free if we need to since I was a federal LEO. I'm lucky I have a pension. I figured that I would have had to save about 2 million dollars just to be able to withdraw my yearly pension amount if I live for another 25 years.
OK, over double, then........... but then for several years, I had zero income.
I retired at the age of 60. What really hurt was health insurance. Paying Obomba Care took a BIG ass bite for 5 years until I got on Medicare.
If you talk all assets, then yeah.
So did I - 8 years ago now. I was lucky on the health insurance. We had our employer supplied insurance, but as costs rose, we had to pay $20 a month as our share of it. I hardly ever called in sick and used vacation for doctor appointments and so on. So I maxed out on my slick leave by the time I hit 60. The state took your unused sick leave hours times your hourly rate and put that into a pot and continued to pay for your health insurance up to age 65. So from the time I retired to age 65, I paid $20/month for the first couple of years, then it went up to $40 in the final years. It really hurt when I turned 65 and had to start paying my own way. My wife was the opposite - she had converted her sick leave to vacation at like a 3 to 1 ratio - which she later regretted. So she ran out of the SLIP (Sick Leave Insurance Program) money after 3 years - she retired at 57 as she was maxed out on what she'd get from IPERS and so on, so everyone told her - why are you still working, giving them that free money?
