Trump helps out bigly and buys a Tesla

David49

Casdon

Unless they are self employed, most people don’t invest directly in stocks and shares to fund their pension pots, they rely on company pensions, which are invested on their behalf. The big difference between this fall in the stock market is that it has been directly inflicted by the government itself. Nobody knows if it is a temporary glitch, or will lead to a recession. It seems remarkably unsympathetic to claim that somebody who is losing large sums of money right now is just ‘smarting’. If I were imaround, or one of the millions in the same position I’d be b….y furious - and so would we, if this were the UK.

Trading shares, commodities or currency is gambling, I would have no sympathy for a gambler who lost his money, they could have invested in a safe fixed interest account.
They didn’t because they are greedy and thought they could do better, some do some don’t.

Yes, but if anyone has or had a private pension through their employer, most of these schemes were invested in stocks and shares.

imaround

And David, your post about being greedy shoes that you have no idea how retirement and 401ks work in the US.

Sorry you’re going to have to explain that

Churchview

Just imagine - your business isn't doing well, you're losing sales and your share price is plummeting. Then, just when you think things couldn't get any worse, Trump endorses your product. Might as well turn the lights off on the way out.

Exactly!! Well said Churchview~~

Who would ever have thought they would see a USA president pimping cars~~ LOLOLOL

What a huge mess the USA is in~~~ Unfortunately the crazy 'virus' is infecting the rest of the world !!

Thank you for the clarity, imaround. Was needed given assumptions made.

Here we go - Trump pimping Teslas - but also attacks on Teslas - which Trump calls "domestic terrorism" and threatens to "Get them"

www.youtube.com/watch?v=f1Ge7BvFAio

Sheesh.

David49

imaround

And David, your post about being greedy shoes that you have no idea how retirement and 401ks work in the US.

Sorry you’re going to have to explain that

A 401ks is like a SIPP in the UK, David.

It's not greedy to hope for the best from your investments in order for that to provide you with a pension in retirement. I have no idea why you would think that.

As there is no State-funded pension in the USA then savings made during a working life have to produce enough to provide in retirement.

Perhaps you gave a healthy firm's pension as well as your State pension so it's something you've never thought about.

short version - full on sell pitch and
www.youtube.com/watch?v=TzBcmVHODrM

A pension scheme would have a wide spread of shares, fixed interest, bonds, gilts designed to give steady safe growth. Maybe 100 or more different holdings that’s a world away from share speculating we are seeing currently, where individual share prices can double or halve in a week, which has nothing to do with the actual value of the company.

WE are not picking the stocks. All the money is lumped into a company, which is chosen by employers, and they invest.

So please, all of you, stop insinuating that we deserve this because we should have known the risk.

My sincere apologies iamaround but perhaps you could have avoided this speculation - by giving that further information in the first place.

David49

I did looks at a shares ISA recently you can choose High, moderate or low risk portfolio, as an alternative a cash ISA was offering 5% tax free at the time

Was that for your entire pension savings, David or do you already receive a works pension (and State pension?).

The couple you described as greedy are just trying to save for an income in retirement which is not many years off. The husband is a Republican, they are not Trump supporters.
“What’s more important to me than having a few extra dollars in my retirement is that this country is set up for success,” Paris said.

Your comment was unfair.

So please, all of you, stop insinuating that we deserve this because we should have known the risk.

It's not all of us, imaround. Some of us understand that not everyone in the world has the security of a State pension or defined benefit pension to look forward to in retirement.

imaround

And David, your post about being greedy shoes that you have no idea how retirement and 401ks work in the US.

To be fair to David, I would agree absolutely with his post when he says: Trading shares, commodities or currency is gambling,

In normal times people using an investment management company to manage their funds would expect them to have sufficient nous to see how the market is behaving and adjust their investments accordingly.

But these are not normal times. I doubt if few, or any, fund managers would have foretold that Trump's foolhardy actions would adversely affect the US stock market to such an extent. Or even that Trump would be quite so destructive, when he was supposed to be such a good business man (though most sane people recognised that he isn't in the least bit 'successful').

I was about to say that we in the UK don't understand the US arrangements for retirement because they just aren't the same as ours, but imaround said it first..

I think that most of us have the utmost sympathy for imaround as being a victim of events which wouldn't have happened normally and over which she has no control.

I think that Pollyanna FGT is changing the narrative when she says that you were warned there could be volatility. That is totally untrue. There was NO warning. Trump continually talked up the instant benefits that would flow from day 1 of his presidency. He's only changed his story since everything started going t*ts up.

Allira

David49

I did looks at a shares ISA recently you can choose High, moderate or low risk portfolio, as an alternative a cash ISA was offering 5% tax free at the time

Was that for your entire pension savings, David or do you already receive a works pension (and State pension?).

The couple you described as greedy are just trying to save for an income in retirement which is not many years off. The husband is a Republican, they are not Trump supporters.
“What’s more important to me than having a few extra dollars in my retirement is that this country is set up for success,” Paris said.

Your comment was unfair.

I don't think David was thinking about the US situation.

He was thinking 'British.'..his remarks may have applied in a UK context but I don't think he's understanding the US situation.

Allira

David49

imaround

And David, your post about being greedy shoes that you have no idea how retirement and 401ks work in the US.

Sorry you’re going to have to explain that

A 401ks is like a SIPP in the UK, David.

It's not greedy to hope for the best from your investments in order for that to provide you with a pension in retirement. I have no idea why you would think that.

As there is no State-funded pension in the USA then savings made during a working life have to produce enough to provide in retirement.

Perhaps you gave a healthy firm's pension as well as your State pension so it's something you've never thought about.

I understand the system is different and you need to arrange your own pension scheme, a pension scheme would always have a modest guaranteed final pot with a bonus depending on success of trading. It will be managed by professionals who have a set of rules to invest by.
Speculating - gambling you can loose your capital and shirt as well

That's right, I've seen film of old wobblebottom flogging cars in front of the White House. He even bought a Tesla, with taxpayers money of course, which was parked outside the White House. He wonders why the world laughs at him.

And yet he speaks very highly of you.

😂

David49

Allira

David49

imaround

And David, your post about being greedy shoes that you have no idea how retirement and 401ks work in the US.

Sorry you’re going to have to explain that

A 401ks is like a SIPP in the UK, David.

It's not greedy to hope for the best from your investments in order for that to provide you with a pension in retirement. I have no idea why you would think that.

As there is no State-funded pension in the USA then savings made during a working life have to produce enough to provide in retirement.

Perhaps you gave a healthy firm's pension as well as your State pension so it's something you've never thought about.

I understand the system is different and you need to arrange your own pension scheme, a pension scheme would always have a modest guaranteed final pot with a bonus depending on success of trading. It will be managed by professionals who have a set of rules to invest by.
Speculating - gambling you can loose your capital and shirt as well

It will be managed by professionals who have a set of rules to invest by.
😁 Well, that doesn't always work out as promised!

"US President Donald Trump has said he will "buy a brand new Tesla" after shares in the electric car firm fell more than 15%."

see - more poor judgement!

Allira

David49

Allira

David49

imaround

And David, your post about being greedy shoes that you have no idea how retirement and 401ks work in the US.

Sorry you’re going to have to explain that

A 401ks is like a SIPP in the UK, David.

It's not greedy to hope for the best from your investments in order for that to provide you with a pension in retirement. I have no idea why you would think that.

As there is no State-funded pension in the USA then savings made during a working life have to produce enough to provide in retirement.

Perhaps you gave a healthy firm's pension as well as your State pension so it's something you've never thought about.

I understand the system is different and you need to arrange your own pension scheme, a pension scheme would always have a modest guaranteed final pot with a bonus depending on success of trading. It will be managed by professionals who have a set of rules to invest by.
Speculating - gambling you can loose your capital and shirt as well

It will be managed by professionals who have a set of rules to invest by.
😁 Well, that doesn't always work out as promised!

Two words: Equitable Life.

imaround

And David, your post about being greedy shoes that you have no idea how retirement and 401ks work in the US.

I believe David may be correct and does understand.

Are you considering the US government pension: Social Security?

My brother worked in the US for all his working life, around 40 years.

He receives social security (some £3000/mo, yes I looked to the new exchange rate). When people retire, if they have worked 10 years or more and are over 62, State pension. No gambling, no greed.

FriedGreenTomatoes2

^WE are not picking the stocks. All the money is lumped into a company, which is chosen by employers, and they invest.^

So please, all of you, stop insinuating that we deserve this because we should have known the risk.

My sincere apologies iamaround but perhaps you could have avoided this speculation - by giving that further information in the first place.

So it's my fault you didn't understand something?

🤣

“Two words: Equitable Life.”

Actually I stuck by them until after the take over, it was Life Insurance, I invested £5k probably 30 yrs before and Utmost paid me out £77k.

I’ve no idea if that was good or bad it seemed OK to me. The original policy had a guarantee of 3% compound + profits

I’m disappointed that so many on GN don’t understand how finances and markets work

My investment was a personal pension. Don’t include me in your comment about lack of understanding. You really are the archetypal mansplainer, as I have said before. Very patronising in your assumption that you know more than others, which has been disproved on several occasions.

I am not talking about social security. Social Security is not a 401k and Social Security, for most people isn't enough to live on.

We also can't rely on getting anything from Social Security because the Republcians and Musk are trying to gut it to pay for the billionaire tax cuts.

I am out of this conversation now. Not worth the headache to be frank.

Have a great day!