- Just Fred
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Re: Dow Hits 20000 for First Time
Grab your hats.The Dow Jones Industrial Average just powered through the 20000 level[/url] for the first time ever, setting an all-time intraday high three trading days after the inauguration of [url=,-trump/159]Donald Trump. Moments after the open, the Dow shot up to 20033.77.
The new record comes as stocks have been on the rise for much of the past three months, finding fresh legs since Election Day to add to one of the longest bull-market runs in U.S. history. The Dow industrials closed under 18000 as recently as Nov. 4, but have risen 12% since then.
This is good news, and if you are going to attribute this to the presidency of Donald Trump, then we should compare the DOW from the beginning to the end of the Obama presidency to be fair. When Obama took office the DOW was around 8000 and when he left, it more than doubled to around 19,000. So I'm guessing when Trump packs it in, we will have at least seen a jump from 19,000 to around 42,000. We shall see. Stay tuned.
If you are heavily invested like me, this will be good news.
Last edited by Just Fred (1/25/2017 8:25 pm)
- TheLagerLad
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Re: Dow Hits 20000 for First Time
The Man wrote:
I believe 70 years old is the age when withdrawals are mandatory from a 401k. Even so, if the average person starts investing 10% of their income from the time they start working, they will be set by the time they are in their 60s. They won't even need Social Security, that would just be icing on the cake, play money. With a 401k, it is necessary to adjust investments as you age, from less stocks to more stable investments.
How old are you? When did you start investing?
70-1/2 is the age at which you must begin to make required withdrawals from your IRA. You must transfer your 401k into an IRA type investment plan upon leaving your employer. Adjusting investments is not so much due to age, but due to your risk tolerance. Most people move from equity investing to income producing investments. Some equities provide a stable income producing revenue stream through healthy dividends. Believe me, you'll probably need your social security, unless you're an executive with a large corporation, or a retired public employee . . . As long as your pension plan is fully funded, and none are.
I'm 39, on track to retire comfortably when I'm 60, average to slightly above average income. With a 401k, the key is to invest at least 10% of your income as soon as you start working, even into an IRA at your first part time job when you're a teen, and never stop. Start high on stocks, 90-95% stocks, until you reach 40, then gradually step the stocks down into more stable funds. Also, diversify your mutual funds. It really isn't that difficult, just discipline. The vast majority of people won't put away 10% of their income even if they easily can.
Today I learned I'm not the youngest person the Exchange.
I think you're going to see a lot of different United States of America over the next three, four, or eight years. - President Donald J. Trump
- Just Fred
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Re: Dow Hits 20000 for First Time
The "Trump Effect"? Thanks Kellyanne, I'll remember that and file it with "Alternative Facts".
- Goose
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Re: Dow Hits 20000 for First Time
The "Trump Effect"? Thanks Kellyanne, I'll remember that and file it with "Alternative Facts".
Hey, I have no idea where the market goes from here.
Just pointing out the pitfalls of our trumper crowing when it rises,,,,,,,,,,,,,,,,
Last edited by Goose (2/01/2017 5:58 am)
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.
- tennyson
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Re: Dow Hits 20000 for First Time
The "Trump Effect"? Thanks Kellyanne, I'll remember that and file it with "Alternative Facts".
Hey, I have no idea where the market goes from here.
Just pointing out the pitfalls of our trumper crowing when it rises,,,,,,,,,,,,,,,,
Markets crave stability and a clear economic plan. We are not there. Hard to tell where we WILL be in 6 months or a year, but I am expecting a bumpy ride no matter where we wind up.
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
- Just Fred
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Re: Dow Hits 20000 for First Time
I am expecting a bumpy ride no matter where we wind up.
That would be called the "Trump Effect".
Last edited by Just Fred (2/01/2017 9:33 am)
- tennyson
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Re: Dow Hits 20000 for First Time
I am expecting a bumpy ride no matter where we wind up.
That would be called the "Trump Effect".
We really have not seen as of yet enactment of ACTUAL policies that will have a real bearing on the economy. All the ups and downs as of now are in reaction to a "not knowing" what will happen. When the actual policies become reality (or not) such as the tax cuts, stimulus spending, etc we will not really see the true bottom line. We all know, however, that spending (or tax cuts) without corresponding Federal income are just going to raise deficits. We CAN continue to do this but there are consequences. I am not expecting to see as robust a market as we have seen in the last 8 years for sure. I would be happy to be wrong on this.
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
- tennyson
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Re: Dow Hits 20000 for First Time
I will also add to the above that the Brexit so far is the same. It is all anticipation. WHEN the actual negotiations happen, then we will again see the true impact. Not expecting good things here either.
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"