[zendog3]

I took a look at my retirement savings today. My retirement is in TIAA/Cref.
The good news is that there is still enough there to get me to the grave.
The better news is that my annuity gained about $1,300 in the last 6 months.
The bad news is that my equities lost about $ 90,000.
The great news is that I din't have a dime invested in crypto currency.

Seriously, when I started saving for retirement 55 years ago, I read up and learned that I should diversify into low risk annuity and risker equities. I chose a 25/75 % split which worked well. I was often tempted to dump the annuity and put all my money in stocks. I am now glad I didn't. I only wish I had changed may diversity distribution to more annuity at time of retirement.

I would give this wisdom to my kids, but they don't listen to me anyway.

[Stu from NYC]

If you are happy all is well but would bet the guy who sold u the annuity wishes you had thrown more money at him.

[Stu from NYC]

You purchased an annuity 55 years ago. Wow that salesman did you a disservice

[Robbb]

Originally Posted by Stu from NYC

You purchased an annuity 55 years ago. Wow that salesman did you a disservice

Every $100 you invested in the S and P 500 would be $24,500 today. Every $100 you invested in an annuity would be worth app $2,400 today

[manaboutown]

All that has been going on in the market has caused me to review my stock market investing history. Now I am a real estate guy and the stock market has never been my "thing". I never put much into it, comparatively speaking. Nonetheless on or about January 1, 2022 the stock I held had appreciated to 22 times what it was worth in 2002. This appreciation does not include any BRK which I treat separately. This is after I had occasionally sold a little stock over the years to pull money out for various reasons. I don't recall selling any during the bear markets over the last twenty years and indeed rarely sold or traded stock. I just bought shares of good solid companies that I believed were good longterm investments in ownership, including (luckily) a few shares of Berkshire Hathaway at about $3K each back when it had only one class of shares in the 1980s.

I never bought whole life insurance or an annuity. Just out of college I went to work at the USPTO and learned lore that patent examiners (which I was at the time) bought term insurance and invested the difference in premiums in the stocks of insurance companies selling them term insurance, such as Travelers. Lol.

Anyway, a large commercial property in which I had an interest sold earlier this year and this bear market offers opportunities. I have put a toe into the water and bought a few shares of this and that. Most of it has dropped a little since I bought it but no big whoop. I am taking my time, not jumping in with both feet. The Fed is apt to raise interest rates again in July and August and possibly September and later in the year. Who knows? Blood is in the streets.

[Stu from NYC]

Originally Posted by Robbb

Every $100 you invested in the S and P 500 would be $24,500 today. Every $100 you invested in an annuity would be worth app $2,400 today

I am sure the salesman who sold this did very well. Hate to see people get taken advantaged of this way

[jedalton]

most kids know everything, I know I did. Whish I had listened

[irishwonone]

Originally Posted by zendog3

I took a look at my retirement savings today. My retirement is in TIAA/Cref.
The good news is that there is still enough there to get me to the grave.
The better news is that my annuity gained about $1,300 in the last 6 months.
The bad news is that my equities lost about $ 90,000.
The great news is that I din't have a dime invested in crypto currency.

Seriously, when I started saving for retirement 55 years ago, I read up and learned that I should diversify into low risk annuity and risker equities. I chose a 25/75 % split which worked well. I was often tempted to dump the annuity and put all my money in stocks. I am now glad I didn't. I only wish I had changed may diversity distribution to more annuity at time of retirement.

I would give this wisdom to my kids, but they don't listen to me anyway.

Cheer up. The market, over time, will rebound. You never lose money unless you sell in a down market. Likely everyone reading your post is also in a similar position regarding their investments at the current time. Try to ignore the noise and enjoy those things that give you joy in life.

[crash]

Originally Posted by zendog3

I took a look at my retirement savings today. My retirement is in TIAA/Cref.
The good news is that there is still enough there to get me to the grave.
The better news is that my annuity gained about $1,300 in the last 6 months.
The bad news is that my equities lost about $ 90,000.
The great news is that I din't have a dime invested in crypto currency.

Seriously, when I started saving for retirement 55 years ago, I read up and learned that I should diversify into low risk annuity and risker equities. I chose a 25/75 % split which worked well. I was often tempted to dump the annuity and put all my money in stocks. I am now glad I didn't. I only wish I had changed may diversity distribution to more annuity at time of retirement.

I would give this wisdom to my kids, but they don't listen to me anyway.

Better yet invest in dividend paying stocks that increase their dividend every year. This way your income goes up even if the market goes down.

[rsmurano]

The only people making money from annuities are the salesman. You missed out from some of the biggest gains in the stock market from 2017-2020 in history. You lost $90k I’m assuming ytd, I made $140k in the last 2 months from 1 etf, so you can still make money, just not in annuities.
I get it, keep investing in the market, even more so when it’s down since you will buy more shares and eventually it will come back. This is true, especially when your 40, 65 or older, not so sure.
In years past, I never sold a share in 2007 or in 2020, but I sold everything early this year (did buy into an etf a few months ago). Market is down 20-30% and I think it will still get worse. So instead of waiting a year or more after the market starts to recover to regain all the losses, I will jump back in and make 20-30% while the market recovers. Cash is king in a down market. You can’t time the market, so I might miss a few % gain from the start of the economy rebound, but it will be a good gain.

[retiredguy123]

One thing that annuity salespeople often neglect to tell you is that any money you make will be taxed at your ordinary income tax rate. You cannot take advantage of the lower capital gains tax rate when you withdraw the money.

[Biker Guy CJI]

Originally Posted by zendog3

I took a look at my retirement savings today. My retirement is in TIAA/Cref.
The good news is that there is still enough there to get me to the grave.
The better news is that my annuity gained about $1,300 in the last 6 months.
The bad news is that my equities lost about $ 90,000.
The great news is that I din't have a dime invested in crypto currency.

Seriously, when I started saving for retirement 55 years ago, I read up and learned that I should diversify into low risk annuity and risker equities. I chose a 25/75 % split which worked well. I was often tempted to dump the annuity and put all my money in stocks. I am now glad I didn't. I only wish I had changed may diversity distribution to more annuity at time of retirement.

I would give this wisdom to my kids, but they don't listen to me anyway.

Not sure why you would even write this. I read this forum for entertainment value only. If you’re looking for advice, you’ll get both sides of the topic ten times over and maybe even from the same person in different posts. Then you have the comedians that think they’re more clever than everyone else, followed by the curmudgeons that want to try and embarrass you with how smart they are followed by what an idiot you are. The judgmental will evaluate your worth based on your perceived political views and decide to support you or harass you.

If you are happy with your decision 55 years ago I’m very happy for you. If you’re debating with yourself I’d discuss it with a small circle of friends that will be honest with you. Not the mob waiting to pounce.

[Rich42]

Glad your kids don’t listen to you….obviously they are much smarter.

[OhioBuckeye]

You’re right you better weigh things out because nobody is going to feel sorry for us!

[Albany]

There really is no reason to post such a snarky reply to the person who honestly discussed his retirement nest egg during this time of upheaval in the markets. And it sounds like he is doing fine, as am I.