The Dow

Westside Steve

Whatever shall we do?!

WSS

Axe

At this point, ride it out.

I don't know.. I escaped the market largely in early 2008 just before the last kerplunk.. I still have a small presence in the Dow but as my FA says, "You're in the Kiddie Pool" when it comes to risk..

Browns149

@westside-steve said:

Whatever shall we do?!

WSS

Wait until oil prices go up again and blame it on whoever is President at the time

gftChris

@browns149 said:
Wait until oil prices go up again and blame it on whoever is President at the time

Without another war anytime soon, unlikely to happen quickly. Only way is to stop the flood coming from Saudi and ISIS.

Clevfan4life

I work in the manufacturing industry, saw this coming a couple months ago. Told my old man to get out cause we slowed down and a lot of our freight carrier drivers were also telling us how everyone else was slowing down...so it wasn't just us. Manufacturing is the first to feel the oncoming recession. My old man is diversified enough that he probably won't take a huge hit...he always rides out. But people in more high risk high reward investments....are about to get some unwelcome butt play.

Westside Steve

Butt play is almost never welcome.

WSS

bbedward

@westside-steve said:

Butt play is almost never welcome.

WSS

almost?

Westside Steve

@bbedward said:

almost?

Ask Xxxxx.

WSS

Chicopee John

@westside-steve said:

Whatever shall we do?!

WSS

Remain steadfast to your strategy. Hopefully we have one and, hopefully, we - once again - have the intestinal fortitude to ride this out.

Of course age has a lot to do with angst. The younger you are, the less the angst and the better the growth prospects via dollar cost averaging, etc.

The older we are, we need to feel somewhat comfortable that the risk tolerance we had built into our strategy.

In my case, I need to have a 'me' strategy and a 'wife' strategy.

The good news is my wife is more than a decade younger than me, has been the primary breadwinner for some time, works for the Town, and has about 10 more years to work.

The difficult part is precisely the age difference as my concern isn't so much outliving our money but having her outliving it (clearly assumptions made).

LOL RE: Gas prices. When people tell me how much they are saving at the Pump, I ask them if they've checked their 401(k) and / or IRA balances lately.

MLD Woody

My company is in manufacturing and we're taking a hit. Layoffs and shutting down some plants

BaconHound

Unfortunately global markets make the economy complex and there is no quick fix.