I'm 78. My IRA dropped 15% in 7 days.

[trof]

What. The. Fuck?

[MaryMagdaline]

1. Hang in there. It'll come back

[ooky]

12. He hopes.

It might keep going the other way.

[we can do it]

2. Where was is 3 years ago?

[AGeddy]

3. I get a kick out of a 78-year-old saying...

.."what the fuck".


Hang in there. It will come back after things settle down and it finds the bottom.

[trof]

4. I can do MUCH worse. Welcome to DU.

[AGeddy]

5. Thanks.

Nothing personal about it, I find it humorous.

[Roland99]

6. Why wouldn't you have it mostly in conservative, fixed-rate investments?

[empedocles]

13. . . . or t bills

[Happy Hoosier]

7. Maybe a little late now, but...

Why are your assets so exposed to the market at age 78? That’s very risky as you’ve just discovered.

[FBaggins]

16. It all depends on your time horizon and goals

Plenty of people in their late 70s don’t need the money (they live off a pension and SS and have no debt) and realize that they’re really managing the money for their kids/grandkids.

We might be looking at a 40 year investment here... in which case equities could be entirely appropriate

[Happy Hoosier]

18. In that case, why mention age?

The implication was that this affected the OP right now. If the IRA is gravy, it’s not really a big deal, right?

[pamdb]

8. IRA

I lost $12,500 on Monday. I haven't looked since. I'm 68

[beachbumbob]

9. be glad your SS check not dependent on market result like this

[exboyfil]

10. This is the shell game the Republicans

Play with retirement accounts and the stock market. They point to overall returns, but when a correction occurs they question why did you have so much in the market. Sorry my crystal ball was broken. Unlike wealthy investors, most folks can't wait for a recovery. Many need the money in a short time window.

[doc03]

11. You must be in some really risky investments for your age. I am 71

and only have 40% of my portfolio in equities only down 3.3%.

[sprinkleeninow]

14. I moved 2 401ks into cash last year and then got feeling like

I shoulda waited a bit bc look how it gained. Now Ima not sorry. I can't be high risk, even medium at this point in time which the options were in. It is what it is.

[Shermann]

15. I'm 60% equities and down 6.2%

Rally tomorrow? Dead cat bounce?

[dumbcat]

17. That's way too much.

What the heck is your IRA portfolio breakdown? Even 100% equity funds shouldn't have gone down that much. WTF is correct.

[trof]

19. To respond to many of your comments about my age and risk:

I have an investment guru who I trust implicitly.
I have been with him a long time.
For my age and life expectancy, he is VERY conservative with my investments.
I am not a millionaire.
I have a smalish ($1500/mo.) pension and S/S retirement benefits.
(Thank you very much FDR.)
There's me and Miz t.
We count our pennies and live a fairly comfortable middle class life.
No cruises, but we dine out and catch a movie in an actual theater once in a while.

[jojog]

20. I am down $58K this week

[Demovictory9]

21. ouch.

[Hekate]

22. MAGA! maga?

[pansypoo53219]

23. imagine if W had his way + put SS in the wall street casino. 401ks a crock.

[Kaleva]

24. I live on $1340 a month SSDI and VA pension. i have no such worries.