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Thread: Retirement

  1. #16
    TalkSox Ascended Master mvp 78's Avatar
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    Quote Originally Posted by bkzwhitestrican View Post
    Buy bitcoin, retire early!

    But until that fortune comes to fruition, I'm also an accounting meatbag.
    Bitcoin is a terrible investment unless you're a whale that is manipulating the price.
    Quote Originally Posted by moonslav59 View Post
    ( I won't say the "C word.")

  2. #17
    All-Star bkzwhitestrican's Avatar
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    Quote Originally Posted by mvp 78 View Post
    Bitcoin is a terrible investment unless you're a whale that is manipulating the price.
    Whales aren't the only ones that have made money. Bitcoin has proven to be cyclical since its inception about 10 years ago and very profitable for those who have timed their entry and exit points. It is currently nearing a low point in the cycle and should remain in buy territory for much of 2019. The trigger for returning to a bull market in the past has been the approach of the next halving (basically new supply gets cut in half) which is scheduled to happen in mid 2020. No investment (or gamble) is foolproof, but there is definitely money to be made in this market.

  3. #18
    TalkSox Ascended Master mvp 78's Avatar
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    Quote Originally Posted by bkzwhitestrican View Post
    Whales aren't the only ones that have made money. Bitcoin has proven to be cyclical since its inception about 10 years ago and very profitable for those who have timed their entry and exit points. It is currently nearing a low point in the cycle and should remain in buy territory for much of 2019. The trigger for returning to a bull market in the past has been the approach of the next halving (basically new supply gets cut in half) which is scheduled to happen in mid 2020. No investment (or gamble) is foolproof, but there is definitely money to be made in this market.
    The previous 12 months would disagree with you. If you ignore Nov 17 - Jan 18, Bitcoin just isn't worth much the hassle.
    Quote Originally Posted by moonslav59 View Post
    ( I won't say the "C word.")

  4. #19
    All-Star bkzwhitestrican's Avatar
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    Quote Originally Posted by mvp 78 View Post
    The previous 12 months would disagree with you. If you ignore Nov 17 - Jan 18, Bitcoin just isn't worth much the hassle.
    I have to disagree. BTC hit an all-time high (at the time) on 11/29/13 with a price of $1,149. That was the high point of that 2013 bull run and the price basically dropped everyday after that, though not in a linear fashion. So if you bought at that point, you entered the market at the wrong time (in the short term anyway). The market then entered a bear phase with a bottom of about $197 on 1/17/15, 83% lower than the high point. So 14 months of declining prices from the previous high. From there, the price reached $432 on 12/31/15, $961 on 12/31/16, and $13,653 on 12/31/17. So if you entered the market at any time between 2015 and 2016, and even in the first half of 2017, you would have at a minimum doubled your money and at your most made 50x your investment if you exited the market at any point within one month of either side of the top of that bull run.

    It's obviously easy to look back in time and point these things out, but this wasn't the first time this cycle had happened with BTC. It was actually the 3rd time in its history. So now here we sit on the heels of the prior bull run, about 12 months removed from the previous all time high and 82% lower than that point. Is history bound to repeat itself? Maybe not, but why not take a small gamble on an asset that can be bought at an 82% discount that has repeatedly shown that it can bounce back with new all time highs?

  5. #20
    King of TalkSox a700hitter's Avatar
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    Quote Originally Posted by cp176 View Post
    Your philosophy is one I agree with. I retired at 56 but continued to coach for another 10. I enjoy retirement but it would be dishonest of me not to say that sometimes I wish that I had kept going for a few more. When the injuries started at the age of 60, the life I had planned kind of got a little restricted. The bigger message from me would be, stay occupied some how and keep moving.
    Keeping busy and active is a necessity. So far, that has not been an issue for me.
    The King of TalkSox has Spoken.

    Quote Originally Posted by a700hitter View Post
    Chaim, you are in the big leagues now. Drawing 10,000 fans a game is not going to cut it, and people don’t buy tickets to Fenway to talk about the Farm

    Quote Originally Posted by notin View Post
    "Relief pitchers are a crapshoot." No, the truth is "Crapshoot pitchers are relievers."

  6. #21
    Big Pot . . .
    Go high & go home.
    Even in rural Oregon, these dispensaries are popping up like Dunkin Donuts every other block in Mass. :0
    Cashing out my 401K & liquidating all my stocks to go all in . . .
    I may start smoking it again, so if I blaze out I just won't care.
    After my first big buy, I bought stock in Doritos / Frito-Lay as a security stock.

  7. #22
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    Quote Originally Posted by Sox75 View Post
    Big Pot . . .
    Go high & go home.
    Even in rural Oregon, these dispensaries are popping up like Dunkin Donuts every other block in Mass. :0
    Cashing out my 401K & liquidating all my stocks to go all in . . .
    I may start smoking it again, so if I blaze out I just won't care.
    After my first big buy, I bought stock in Doritos / Frito-Lay as a security stock.
    I'm on the other end of most of this but just being slow but steady worked well for us. Solid investments in good steady companies. Not much of a risk taker here.

  8. #23
    My job is very stressful and physically demanding. I don't want to work past 60. Many of us end up with some sort of heart ailment and I'd rather cut and run before that comes. I am kicking myself for my younger investing years. I had the option of doing a 401k during residency as well as a Roth IRA and I declined thinking that the bigger paycheck would negate the need to do it at a younger age. But nothing, I mean nothing, is better than the time value of money. Just $600 a month while I was a resident (3-4 years) would have been almost $50K by the time I started investing. And that $50K would have doubled by now. By the time I retire, that lost investment would be worth over a half million dollars. And I could have cut $600 a month worth of spending during that time as my meals were free at work and my wife had a really good job.

    I also have some scary news for people my age (sub 40). Social Security isn't going to be there without some ground shaking adjustment, ie, you will have to pay more into it to get something later. It has always been a ponzi scheme but now our politicians use it as a slush fund instead of a fund of OUR money that we put there when we retire. Off the soapbox now, but most of us are going to need to earn and save enough to retire on our own. Use the Roth IRA's if you can. If you have a 401k, max out your savings. If you are a contractor, use your sepIRA's. Use 529's for kid's colleges. If your work offers salary deferment and you are a higher earner, use it. And if you have a market professional to turn to, tell them when you want to retire and what you want to do so you can figure out how much you need to save on a yearly basis.
    Hal sucks

  9. #24
    TalkSox Ascended Master mvp 78's Avatar
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    Quote Originally Posted by jacksonianmarch View Post
    I also have some scary news for people my age (sub 40).
    WTF? I'm older than you?
    Quote Originally Posted by moonslav59 View Post
    ( I won't say the "C word.")

  10. #25
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    Quote Originally Posted by jacksonianmarch View Post

    I also have some scary news for people my age (sub 40). Social Security isn't going to be there without some ground shaking adjustment, ie, you will have to pay more into it to get something later.
    I find this hard to believe.

    The primary recipients of social security are senior citizens, who are also the highest voting demographic. No politician wants to alienate the senior vote. Something will be done to make sure seniors know who to vote for...

  11. #26
    Quote Originally Posted by notin View Post
    I find this hard to believe.

    The primary recipients of social security are senior citizens, who are also the highest voting demographic. No politician wants to alienate the senior vote. Something will be done to make sure seniors know who to vote for...
    Where are you going to fund it from? It has been pilfered and will require an even bigger funding to get the same benefits.
    Hal sucks

  12. #27
    All-Star bkzwhitestrican's Avatar
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    Quote Originally Posted by bkzwhitestrican View Post
    I have to disagree. BTC hit an all-time high (at the time) on 11/29/13 with a price of $1,149. That was the high point of that 2013 bull run and the price basically dropped everyday after that, though not in a linear fashion. So if you bought at that point, you entered the market at the wrong time (in the short term anyway). The market then entered a bear phase with a bottom of about $197 on 1/17/15, 83% lower than the high point. So 14 months of declining prices from the previous high. From there, the price reached $432 on 12/31/15, $961 on 12/31/16, and $13,653 on 12/31/17. So if you entered the market at any time between 2015 and 2016, and even in the first half of 2017, you would have at a minimum doubled your money and at your most made 50x your investment if you exited the market at any point within one month of either side of the top of that bull run.

    It's obviously easy to look back in time and point these things out, but this wasn't the first time this cycle had happened with BTC. It was actually the 3rd time in its history. So now here we sit on the heels of the prior bull run, about 12 months removed from the previous all time high and 82% lower than that point. Is history bound to repeat itself? Maybe not, but why not take a small gamble on an asset that can be bought at an 82% discount that has repeatedly shown that it can bounce back with new all time highs?
    Just thought I'd bump this up, because nobody likes to pat themselves on the back more than me .

    Bitcoin currently up to $7,780. It was at $3,449 when we were talkin bout it (126% increase over 3 1/2 months )

  13. #28
    Legend SCM33's Avatar
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    Im 36. I can retire in 7 more years and collect a pension. Then I start my second career.

  14. #29
    Deity Bellhorn04's Avatar
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    Quote Originally Posted by SCM33 View Post
    Im 36. I can retire in 7 more years and collect a pension. Then I start my second career.
    As a therapist of some sort, no doubt.
    Championships since purchase by John Henry group: Red Sox 4 Yankees 1

    The Red Sox are 8-1 in their last 9 postseason games against the Yankees.

  15. #30
    Legend SCM33's Avatar
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    Quote Originally Posted by Bellhorn04 View Post
    As a therapist of some sort, no doubt.
    That’s not what I have in mind........if anything, I’ll need one in 7 more years.

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