Being Prepared

[snagged in outlet 3]

4 minutes ago, Mitch f said:

We’re doing ok, my business has taken a pretty sizable hit. Companies are reluctant to bring people in to their buildings, and so a limited number of folks are bringing parts to our shop for Metrology services. My wife has a job managing the charitable contributions of a super rich family so the downturn won’t affect her job...thank goodness

Do you work for a metal testing lab?

[Mitch f]

6 minutes ago, snagged in outlet 3 said:

Do you work for a metal testing lab?

No, just measuring and reverser engineering 

I’m Co-Owner of this business

https://trimetgroup.com

Metrology is the study of weights and measures, although our business has evolved into laser scanning and modeling over the last 15 years.
I’ve been a metrologist for 30 years, my father was a Metrologist for 30 years before me...I guess I came by it honestly! 😂 

[snagged in outlet 3]

15 minutes ago, Mitch f said:

No, just measuring and reverser engineering 

I’m Co-Owner of this business

https://trimetgroup.com

Metrology is the study of weights and measures, although our business has evolved into laser scanning and modeling over the last 15 years.
I’ve been a metrologist for 30 years, my father was a Metrologist for 30 years before me...I guess I came by it honestly! 😂 

That’s cool!!!   Is that how you came up with craw bait?   You scanned a real one?

[Mitch f]

8 minutes ago, snagged in outlet 3 said:

That’s cool!!!   Is that how you came up with craw bait?   You scanned a real one?

Yep

[rps]

I was scheduled for mandatory withdrawals staring this month (70 and 1/2). Fortunately the recent changes allow me to delay that a while, thus avoiding sales at the low point.

All I need to do is stay healthy.

[Mitch f]

20 minutes ago, rps said:

I was scheduled for mandatory withdrawals staring this month (70 and 1/2). Fortunately the recent changes allow me to delay that a while, thus avoiding sales at the low point.

All I need to do is stay healthy.

I swear by this stuff

[ness]

I’m not one to move my 401(k) money around very often. I’ve made three big moves though. One about 20 years ago, one about 12 years ago and one 3 weeks ago. The first two saved me a lot of money. The last one — I guess we’ll see. 

I’m about 3-5 years from retirement, and I’ve had a little bigger allocation in bonds the last couple years. Last year’s return was 15%, and I gave back about 10% this year before pulling the plug. Still way, way up over the last several years. Current contributions still going 85% into growth stocks  

We’ve seen an extraordinarily rapid decline in the economy and who knows where the bottom is. Uncle Sam is throwing $2 trillion at it, borrowing every penny, adding to an already huge deficit and national debt. BTW, know who’s buying a chunk of the debt they’re issuing? The Fed. It’s a freakin’ Ponzi scheme. 

I’m gonna be okay sitting on the sidelines for now getting a little better feel for how things are shaping up. Far too many unknowns at the moment. Just don’t like the odds on this deal. 

[Terrierman]

14 minutes ago, ness said:

I’m not one to move my 401(k) money around very often. I’ve made three big moves though. One about 20 years ago, one about 12 years ago and one 3 weeks ago. The first two saved me a lot of money. The last one — I guess we’ll see. 

I’m about 3-5 years from retirement, and I’ve had a little bigger allocation in bonds the last couple years. Last year’s return was 15%, and I gave back about 10% this year before pulling the plug. Still way, way up over the last several years. Current contributions still going 85% into growth stocks  

We’ve seen an extraordinarily rapid decline in the economy and who knows where the bottom is. Uncle Sam is throwing $2 trillion at it, borrowing every penny, adding to an already huge deficit and national debt. BTW, know who’s buying a chunk of the debt they’re issuing? The Fed. It’s a freakin’ Ponzi scheme. 

I’m gonna be okay sitting on the sidelines for now getting a little better feel for how things are shaping up. Far too many unknowns at the moment. Just don’t like the odds on this deal. 

I have $5K still in equities.  Everything else in cash, bonds and bond funds.  Gave back almost 17% before completing that move several days ago.  Since then, gained back almost 3%.  These are very uncertain times - who knows how far south this will all go and what recovery will look like both in scope and time frame.  I am not optimistic.  I am very thankful that we don't need that money to meet our relatively modest (and getting even more modest) living expenses.  As others have correctly said, it would be tough to have to sell now to have $$$ to live on.