Just because the Dow is down "13%" doesn't mean someone's retirement account should be down only 13%. I'm down 30% since November '21. Not changing a thing, been buying the dip all year! 💪 My funds are: FGCKX, VSMAX, VIMAX, MIEIX!
your accts are down by 30% likely bc they are invested in semi-risky, tech heavy stocks. these funds mimic the nasdaq 30 and S&P500 which are off 30% & 20%, (respectively) from dec 2021 highs.
I feel bad for the caller because the Vgard target funds have not done well these past two years. The indexes would have been fine for the caller. "Double commissions"? Not 🤣
My roller coaster ride was over 30 years saving/investing for retirement since high school. During career contributing around $300k total in 401k and retired with 1.6 million in 2020. Currently 2.1million after rollovers. I’m 52 years old. Was a great ride and still a great ride with dividends and compounding instead of contributions.
That quote makes no sense. You want to jump off when the rollercoaster is at the peak where you will fall and get hurt the most. For if you keep riding that rollercoaster it will eventually take you to the bottom where it stops.
@@mrslcom Well of course it doesn't make literal sense, but the kinds of people you tell this to aren't the types to sell at the highs and buy at the lows, hence you use a silly saying that will hopefully "make more sense" to them
My biggest financial mistake was being only 12 years old during the 2008 financial crisis and nowhere near prepared enough to scoop up some cheap stocks and real estate maybe now is my time!
The QQQ (Nasdaq 100 ETF) is up around 1400% from the 2009 dip until 2021. If investing at the start of 2014, $50k would've turned into $250k. So yeah, a $60k pullback hurts - but if it's in the high growth NASDAQ, I wouldn't worry about such a small percentage in the grand scheme of things. Better to get the +1400%'s and ignore the -30%'s if you can wrap your head around that. Humans are wired to avoid danger, but there's so much more to gain by taking a small chance.
Financial advisors get a bad rep, but people like him are the reason they're necessary. When you buy a target fund, it gives you the target year. He could've bought a 25 year fund. And if the date is far away, he doesn't even have to look at it.
The S&P is down 20% YTD and the NASDAQ is down 31% YTD. My investments are down more than the NASDAQ. Man, if only I was down ONLY $60k this year! More like a half million.
@@MichaelHollen ridiculous. If you haven’t sold you haven’t realized a gain either. The portfolio is worth what it is today. Period. It doesn’t care what it used to be worth.
@patty109109 That's where you and the entire amateur investors are wrong. The value of the portfolio is irrelevant. As long as it can produce the income you bought it for, it's fine.
I'm sure she's a great person and adds value to the company, however being an on air personality is not her strength. Don't know how much longer they can prop her up.
You should speak for yourself. I only do individual stocks and ETFs. My retirement portfolio is down -7.89% for the year but paying over $9k/mo. dividends with half in cash. You must not have oil/gas and REITs in your portfolio.
Sometimes I feel Dave has no idea what its like for the average investor. I'm down 24% YTD as of today 10/27/2022. A separate account that was started in May if this year is down 18% YTD. Its entirely possible he is in a similar boat.
it doesnt really matter his advice is still legit. I wouldnt really be selling stocks right now I just think its going to be a mistake to sell off at this time and thats all dave said. It will prob turn out to be the right decision down the road.
If you are a long term investor then it doesn't matter. You're not going to sell so you're not realising those "losses". Dave's investment advice has always been investing for the long term (at least 10 years) and sell when you retire and/or need the money.
He’s lost 60k from the peak, but how much of that 220k was money he invested and how much was earnings? If he put in 150k over the years, it went up to 220k and then dropped to 160k, he’s still ahead. (This is an example, I don’t know his actual numbers)
Yup. My 401k is down 7-8% for the year but seven times what I contributed so not concerned especially with monthly dividends reinvesting and not needed.
Great question that you posed. The QQQ (Nasdaq 100 ETF) is up around 1400% from the 2009 dip until 2021. If investing at the start of 2014, $50k would've turned into $250k. So yeah, a $60k and 30% pullback hurts - but if it's in the high growth NASDAQ, I wouldn't worry about such a small percentage in the grand scheme of things. (Down to only +1000% now! /cries) Better to get the +1400%'s and ignore the -30%'s if you can wrap your head around that. Humans are wired to avoid danger, but there's so much more to gain by taking small chances.
This guy has money in a target-date fund, and target-date retirement funds allocate more and more to bonds as you get older. Increases in interest rates cause bond values to go down. Many bond funds are down 20% or worse since a year ago.
Something's not right here. I'm guessing he told his advisor he has maximum risk tolerance due to his social security and teacher retirement and now he wants to cry about how much he's lost.
Daniel should liquidate those sketchy mutual funds and go all-in on Tsla stock while it is selling at a steep discount. They are practically giving away Tesla shares at these prices.
@@lyonk-tz8qf I thought Colin meant a younger generation. When he said won't be able to retire. It's all generalised some people will be younger and be able to retire OK. Some older right now won't be able to retire. The generation isn't the whole story.
A fixed index annuity with a bonus could be a good solution for this guy…. Even if it made sense mathematically Dave would never recommend it because he’s bashed annuities for years and would lose credibility. Props to him for sticking to his philosophy but that doesn’t mean fixed index annuities are a bad solution. Fixed index annuities have no charges if structured correctly His smartvestor pro will charge a fee every year… but let’s not talk about that.
Not all annuities are designed for pensions/income… this individual is focused on accumulation and not loss…. It’s not about selling any specific product it’s about what is best for the individual. My point is Dave is it is okay to explore all your options.
What do you mean by "lost"? Did you sell anything? In 2018, I bought my house for $286K and the value shot up to $500K and then dropped to $435K. I didn't "make" any money and I didn't "lose" any money... because... well, I didn't sell my house.
@@derek8315 Yep , actually most of my Corporate Bonds have gone up past their original Buy cost & that is without adding any Interest payments ! There is one Corporate Bond below my Buy points but only by $2 or $3 dollars.
I live in illinois and work at downtown Chicago resturant and put the food we serve on strings and hide the hidden food under my clothes so as to walk around and sweat on it (season it) all day before taking it out and heating and serving it. Sometimes I have about 60 different articles of food underneath my clothing at any given time. No one knows I do this and luckily you don't know what resturant I work at hehe
That's not what he said selective listener. The guy wants to move his funds into annuities that buy index funds. That's double fees for underperformance. He should stay put.
Because he would be accused of pumping and dumping, of course. And the actual funds are not important; the general class of fund is. Each class of funds have many actual funds that are all equivalent.
Please do not follow any of Dave’s investment advice. Go to a licensed financial advisor and go from there. There is no one size fits all advice that he preaches
May be true, but any honest advisor would tell you to stay put since everything is down and investors are unsure about the Fed's new rates, so everything will keep going down for now, but that's short term.
Just because the Dow is down "13%" doesn't mean someone's retirement account should be down only 13%. I'm down 30% since November '21. Not changing a thing, been buying the dip all year! 💪 My funds are: FGCKX, VSMAX, VIMAX, MIEIX!
I know. It's like sometimes he does not understand.
your accts are down by 30% likely bc they are invested in semi-risky, tech heavy stocks. these funds mimic the nasdaq 30 and S&P500 which are off 30% & 20%, (respectively) from dec 2021 highs.
I feel bad for the caller because the Vgard target funds have not done well these past two years. The indexes would have been fine for the caller. "Double commissions"? Not 🤣
Yes Dave acts like the Dow, which is a changing definition should mirror the guys performance
@@michaelhaidee They air these several weeks afterwards so maybe it was accurate at the time of the call.
"The only person who gets hurt on a rollercoaster is the one that jumps off in the middle of the ride" What a great quote.
That was epic
My roller coaster ride was over 30 years saving/investing for retirement since high school.
During career contributing around $300k total in 401k and retired with 1.6 million in 2020.
Currently 2.1million after rollovers.
I’m 52 years old.
Was a great ride and still a great ride with dividends and compounding instead of contributions.
That quote makes no sense. You want to jump off when the rollercoaster is at the peak where you will fall and get hurt the most. For if you keep riding that rollercoaster it will eventually take you to the bottom where it stops.
@@mrslcom Well of course it doesn't make literal sense, but the kinds of people you tell this to aren't the types to sell at the highs and buy at the lows, hence you use a silly saying that will hopefully "make more sense" to them
My biggest financial mistake was being only 12 years old during the 2008 financial crisis and nowhere near prepared enough to scoop up some cheap stocks and real estate maybe now is my time!
Growth funds are down way lower that 13% for the year. They’re all done 30-40%. They will rebound fast though probably.
I totally agree with you!!!!
Once you get someone with a brain running the country....then yes - it will recover.
People sell after the price goes down. It’s insane how that works.
Pretty much stupid
Seems like it will be like 2008 all over again.
Many that sold back then will never get it back.
They buy at the peak and sell near the bottom.
I buy like a pig when the prices go down - As Warren Buffet says, "Be GREEDY when others are fearful".
Nasdaq is down 31% YTD so he could of very easily lost $60K
Not a loss until sold
We've all heard buy low sell high and protect your gains far too many times to not get it
The QQQ (Nasdaq 100 ETF) is up around 1400% from the 2009 dip until 2021. If investing at the start of 2014, $50k would've turned into $250k. So yeah, a $60k pullback hurts - but if it's in the high growth NASDAQ, I wouldn't worry about such a small percentage in the grand scheme of things. Better to get the +1400%'s and ignore the -30%'s if you can wrap your head around that. Humans are wired to avoid danger, but there's so much more to gain by taking a small chance.
Dave is only down 13%. Nothing worse is possible.
From 2007 to the bottom in 2009 the Nasdaq lost 45%. We are getting close to that massive number and the worst may be yet to come.
@@papasquat355 Yeah yeah yeah more doom mongering.
S&P 500 is down more than 13%
And with Dave's investment advice you'd be down more with all that growth and international.
@@djpuplex haha exactly! International is down 25% Dave is definitely down more than 13% he just doesn’t admit it
Why do people say "the S&P is down xx%..." as is everyone put their entire life savings in at the start of the year? 🙄
Try -20 percent!!!
Exactly..and if Dave is in any kind of growth like he says he's down 25 plus percent easy
Financial advisors get a bad rep, but people like him are the reason they're necessary. When you buy a target fund, it gives you the target year. He could've bought a 25 year fund. And if the date is far away, he doesn't even have to look at it.
The S&P is down 20% YTD and the NASDAQ is down 31% YTD. My investments are down more than the NASDAQ. Man, if only I was down ONLY $60k this year! More like a half million.
I'm down none I decided to say F diversification and went all in on energy sector
S&P year to date down 18.67%. Nasdaq down 29.25%. So much for Dave’s “good growth mutual funds”.
You are right, of course. Help us out: since good growth mutual funds are wrong, where should be put our money? Thanks for sharing, my friend.
@@DrSchor Dave told you " Take the pain & ride it out " ! He said look at Fund downturns in the past & did the Fund recover quickly ? Then hang on.
Losing 60k is nothing to Dave. But someone that have 200k, that is a lot.
If you haven't sold, you haven't lost anything yet. Have patience.
@@MichaelHollen At his age, that is a lot.
@@MichaelHollen ridiculous. If you haven’t sold you haven’t realized a gain either. The portfolio is worth what it is today. Period. It doesn’t care what it used to be worth.
I only started with 60k, and I can only hope it comes back. I'll stick with it.
@patty109109 That's where you and the entire amateur investors are wrong. The value of the portfolio is irrelevant. As long as it can produce the income you bought it for, it's fine.
I made an appointment with a Smart Vestor Pro referral and he recommended annuities. Yikes!
Just looking at the average loss does not truly reflect the losses that some people have had when they were once gaining significantly.
I agree with you Kevin!!!
Great input from Kristina. She forgot to mention that he should look into scholarships
Nice one Siva 😁
🤣
Poor Kristina. You can see her squirming inside as Dave gives out bad info.
I'm sure she's a great person and adds value to the company, however being an on air personality is not her strength. Don't know how much longer they can prop her up.
You lose money when you sell.
Lose money holding? Or lose money selling? Hmmm Fear of missing out or fear of losing more?
I like Dave alot, but I believe he is completely lying. Most everyone is down over 20%
S&P right now down around 18% from peak, yep.
You should speak for yourself. I only do individual stocks and ETFs.
My retirement portfolio is down -7.89% for the year but paying over $9k/mo. dividends with half in cash.
You must not have oil/gas and REITs in your portfolio.
Sometimes I feel Dave has no idea what its like for the average investor. I'm down 24% YTD as of today 10/27/2022. A separate account that was started in May if this year is down 18% YTD. Its entirely possible he is in a similar boat.
I’m also down about 24% as well. Most people i know are down the same. I’d be shocked to learn that anyone is only down 13%.
it doesnt really matter his advice is still legit. I wouldnt really be selling stocks right now I just think its going to be a mistake to sell off at this time and thats all dave said. It will prob turn out to be the right decision down the road.
You bought near peak right at the start of a bear rally.
If you are a long term investor then it doesn't matter. You're not going to sell so you're not realising those "losses". Dave's investment advice has always been investing for the long term (at least 10 years) and sell when you retire and/or need the money.
What you're down YTD only means anything if you pushed in all your chips in January. If you had done the same two years ago you'd still be up 20%.
Corporate profits are at an all time high according to literally every news source.
The first thing he should have asked is what year is the target.
He did, poor guy doesn't know.
Nasdaq is down about 30%
Im down 25% YoY in my 401k. Im glad i dont need the money anytime soon.
He’s lost 60k from the peak, but how much of that 220k was money he invested and how much was earnings? If he put in 150k over the years, it went up to 220k and then dropped to 160k, he’s still ahead. (This is an example, I don’t know his actual numbers)
Yup.
My 401k is down 7-8% for the year but seven times what I contributed so not concerned especially with monthly dividends reinvesting and not needed.
Great question that you posed. The QQQ (Nasdaq 100 ETF) is up around 1400% from the 2009 dip until 2021. If investing at the start of 2014, $50k would've turned into $250k. So yeah, a $60k and 30% pullback hurts - but if it's in the high growth NASDAQ, I wouldn't worry about such a small percentage in the grand scheme of things. (Down to only +1000% now! /cries) Better to get the +1400%'s and ignore the -30%'s if you can wrap your head around that. Humans are wired to avoid danger, but there's so much more to gain by taking small chances.
This guy has money in a target-date fund, and target-date retirement funds allocate more and more to bonds as you get older. Increases in interest rates cause bond values to go down. Many bond funds are down 20% or worse since a year ago.
@@megalodon1726 I pulled out of bond funds after making 100k from Oct. 2020 to Oct. 2021
I wouldnt be selling stocks right now.
Dave is a used cars salesman who doesn't need money !
Great Call!
Yes, I would switch.
An index does not charge double comission.
Exactly!!!
Every blue chip fund is down about 30%. They are heavily weighted towards FAANG stocks. Those are down a lot
S&P 500 is down 21,4% Year-to-Date. Nasdaq is down close to 34%. His loss of 25% seems about right, depending on allocation.
Dave's normalcy bias for this economic situation is hard to hear sometimes
It is easy when losing 30% won't impact your future ( like Dave ).
He hasn't lost anything until he sells.
{Let's talk...I have something bigger to introduce} ⤴️⤴️...
Breaking even would be music to my ears, but I think that’s two years away at least.
{Let's talk...I have something bigger to introduce} ⤴️⤴️...
If you don't sell when you had profits you never had the money.
Im down 28%.. sounds about right
Build back better is about to be Build back beggars for alot of people.. not dave of course
I check every day -22.6% today
In my Fidelety
If you move it now, you lose until it gains back then move somewhere safer if you can't take the ride.
Stay the course.
Something's not right here. I'm guessing he told his advisor he has maximum risk tolerance due to his social security and teacher retirement and now he wants to cry about how much he's lost.
It’s a vanguard retirement fund so there’s 40% international too. It’s basically riding the entire world stock market not just the American economy
I'm down over 20%. Went up to 25%. That's for us normies... down only 13 Dave? Must be nice.
Buy the dip pops!
{Let's talk...I have something bigger to introduce} ⤴️⤴️...
Half million? Dave’s out of touch.
Something is off in his calculations.. VTWNX Target Date 2020 is down 16% so 225k would be close to 190k..he probably withdrew 30k and forgot about it
Has anyone figured out what fund is Dave in that has been here 80 years????
The great depression fund xd
Chill dude
I’m usually in agreement with Dave most of time (specially concerning staying away from debt) but don’t agree with him here.
Sounds like this retiree won't need the money for awhile. He is not the normal retiree though.
Dave thinks growth stock mutual funds never go down
Daniel should liquidate those sketchy mutual funds and go all-in on Tsla stock while it is selling at a steep discount. They are practically giving away Tesla shares at these prices.
{Let's talk...I have something bigger to introduce} ⤴️⤴️...
You're worse than him. Does tesla pay dividends?
Hahahahahaha yeah go all in buddy donate to the oracle
All hail chief twit Elon musk
@@cutehumor Long may the Techno king of Tesla reign.
Thank you!
To get the 60k back is going to take awhile… a long awhile…. Will continue to lose till the end of 2023
Ok mr financial god 😂
Loss decade comming
How do you know? Rhetorical question.
it’s unfortunate that a retired teacher who worked full time for decades has to worry about finances in their golden years
This is going to happen to this generation.... I fear the won't be able to retire and will have to go back to work...
That will knock some sense into them so they can get off tik tok and do something useful.
@@sblijheid I don't think Colin ment the tik tok generation. probably more like the boomers going back to work.
How would that happen? He has a pension and social security, and lives in Alabama. Did you not listen.
@@lyonk-tz8qf I thought Colin meant a younger generation. When he said won't be able to retire. It's all generalised some people will be younger and be able to retire OK. Some older right now won't be able to retire. The generation isn't the whole story.
A fixed index annuity with a bonus could be a good solution for this guy…. Even if it made sense mathematically Dave would never recommend it because he’s bashed annuities for years and would lose credibility. Props to him for sticking to his philosophy but that doesn’t mean fixed index annuities are a bad solution.
Fixed index annuities have no charges if structured correctly
His smartvestor pro will charge a fee every year… but let’s not talk about that.
Not all annuities are designed for pensions/income… this individual is focused on accumulation and not loss….
It’s not about selling any specific product it’s about what is best for the individual.
My point is Dave is it is okay to explore all your options.
And Dave isn’t selling his smartvestor pros?
which some of them actually recommend fix index annuities.
Why is Dave in denial about these unprecedented times.
All times are unprecedented, of course. Can you name a time that was precedented?
What do you mean by "lost"? Did you sell anything? In 2018, I bought my house for $286K and the value shot up to $500K and then dropped to $435K. I didn't "make" any money and I didn't "lose" any money... because... well, I didn't sell my house.
the bond portion killed him.
@𝐓𝐄𝐗𝐓 𝐌𝐄 ÷𝟏𝟑𝟑𝟒𝟒𝟐𝟐𝟗𝟔𝟒𝟗 can you send me a 100 dollar gift card?
Everything is down. The issue is that he's looking at the price whereas he should be looking at the dividends.
stocks are down more than bonds.... don't know what you're watching.
@@derek8315 Yep , actually most of my Corporate Bonds have gone up past their original Buy cost & that is without adding any Interest payments ! There is one Corporate Bond below my Buy points but only by $2 or $3 dollars.
I live in illinois and work at downtown Chicago resturant and put the food we serve on strings and hide the hidden food under my clothes so as to walk around and sweat on it (season it) all day before taking it out and heating and serving it. Sometimes I have about 60 different articles of food underneath my clothing at any given time. No one knows I do this and luckily you don't know what resturant I work at hehe
Oooook?
Ramsey must be getting his talking points from pocahontas. He admires the wretch.
{Let's talk...I have something bigger to introduce} ⤴️⤴️...
I love dividend growth investing my account is green
Yeah, that's a good option Ray!!!
@@frankbatista.official thanks
No doubt this older man is worried. Dave telling him it’s only down 13% lol hang in there…
The S&P 500 is down circa 20%
Not coming back w this administration
Why doesn’t Dave tell his audience which of his stocks earn 12% ? So we could pick the
same ones.
I'm down 40k on what was about 500k. I'm 57, meh.
401k’s are down over 20%
Index or mutual?
{Let's talk...I have something bigger to introduce} ⤴️⤴️...
No index funds lol. Dave doesn't get paid if you pick your own funds
That's not what he said selective listener. The guy wants to move his funds into annuities that buy index funds. That's double fees for underperformance. He should stay put.
He still has the same number of shares, so he's only lost money if he sells and locks in those losses. If you don't need it today, ride it out.
I am only down 2.5%
Dude, everyone is down.
Why don’t you just name your actual mutual funds?
Because he would be accused of pumping and dumping, of course.
And the actual funds are not important; the general class of fund is.
Each class of funds have many actual funds that are all equivalent.
Dave, come on man..if you got intl, you down way more thay 13%
Dave sounds like he’s talking to himself on the phone
I put my 401K in annuity before this all happened. It never goes down. I haven't lost any money. Thank God!
Dave won’t listen to that though lol
@Brooks Lindblad
He said it doesn't make sense now. The OP has locked the rates in already.
I went from $1.4m down to $700k and don’t care at all since two years ago it was worth $70k
Please do not follow any of Dave’s investment advice. Go to a licensed financial advisor and go from there. There is no one size fits all advice that he preaches
{Let's talk...I have something bigger to introduce} ⤴️⤴️...
May be true, but any honest advisor would tell you to stay put since everything is down and investors are unsure about the Fed's new rates, so everything will keep going down for now, but that's short term.
Dave in the ICA fund.
Looking at these comments it seems Dave has his numbers wrong on this one
Dave claiming index funds are charging double commissions, with a principle protection and are an insurance product are a complete lie.
yeah, I had the impression he confused index funds with hedge funds or something....
@@removalente980 right. Or target date funds
The caller asked about indexed annuities , not index funds. Those are insurance products.
Index annuities are NOT index funds. They have high commissions. Did you even listen?
@@lanaj1107 put in your hearing aids. At 5:28 he clearly says index funds.
MOBTOWN! 😎
✝️🙏
DO NOT LISTEN TO DAVE RAMSEY ON STOCK INVESTMENTS. Absolute rubbish advice.
{Let's talk...I have something bigger to introduce} ⤴️⤴️...
Don't believe him when he said he is only down 13%