Related Posts
Can I get a commercial loan without 25% down?
How bad is this trade war going to be?
Mentor
401k Roth or traditional 401k?
More Posts
Chief
How's everyone doing this weekend?
Bowl Leader
Finger Lickin' Good
Enthusiast
Cat story 😻
Any thoughts on Laronde?
Additional Posts in Finance
What's the last lie you told?
Any one familiar with comp for a Portfolio Associate roll at PIMCO on their mortgage backed securities team? I’m looking at an offer and want make sure I’m in line with the average comp for the company and industry. Only 4 months of experience and offer is 98k w/ 10-20% bonus plus 15k relo/ sign on. Looking at Glassdoor, bonuses seem higher than quoted by the hiring manager. (No written offer yet they say they’re still working on it)
Best font to use for your resume?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Rising Star
His advice is antithetical to the issue he is supposedly drawing attention to... Pensions provide fixed annual payouts since you are getting distributions from the profits of a managed portfolio and are not drawing down the principal. 401k in theory can be done the same way but most people don't save enough and don't target that concept, so instead of trying to manage annual cash flows of a large personal portfolio they treat it like a savings account and draw it down each year... Suggesting to invest in gold, silver, and... Crypto? Is idiotic when taken with that context since gold and silver are supposed to protect against market crashes (which is a completely different issue and one that can just be addressed by changing your asset allocation as you age - which most managed 401k accounts do when you elect them) and don't appreciate to a meaningful degree so violate the principal of a portfolio yield supporting annual expenses vs its principal. Bitcoin is not stable and is a speculative asset - aka sometime retirees should be avoiding like the plauge since they can't afford volatility and losses...
My advice is to save aggressively so that a 4% return on your retirement funds can be the annual income you need in perpetuity (you can get this safely with tax free muni bonds at retirement - don't swap too far before retirement tho cause yield is obv better elsewhere with more risk. If that's unrealistic, invest in your kids so that they can support both of you in your old age. If neither of those are options for you all I can say is good luck...
Robert is a perma-bear.
Gold and silver have largely underperformed compared to equities.
Likewise, 401ks are no more "flimsy" than the stock market itself which is definitely not flimsy, just volatile at times. Most wealthy folks all throughout the ladder have a large amount of investments in public equities.
Real estate is a fine investment but he's got a vested interest in pumping this narrative. I would not take what he says very seriously, and I have read his book. It's okay.
People who plan for the worst when investing end up underperforming those who just hold through the hard times.
And fwiw, if you want diversify into metals that's fine. But I wouldn't make it a large or significant portion of your holdings, much like I'd give the same advice to anyone interested in crypto. (No more than 5% of your net worth)
But the advice Robert gives tends to lead people into divesting from public markets entirely. I think that is very very bad advice.
I read his book - who stole my pension - he's very doom and gloom, IMO. But also, this is why I think some type of real asset is important as well.
😴😴😴😴😴
Save as much as you can