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Thread: How the Brexit affects your retirement fund

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  1. #1
    Senior Member JohnDoe2's Avatar
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    How the Brexit affects your retirement fund

    How the Brexit affects your retirement fund

    The United Kingdom voting to leave the European Union on Thursday had ripple effects throughout the financial world.
    The Dow Jones industrial average fell more than 600 points on Friday, wiping out its gains for 2016 and posting its largest single-day fall since August 2015. With the market falling sharply in one day, some people consider pulling their money from the market.

    “What you see right now is uncertainty in the markets,” said Stuart Smith a partner at ML&R Wealth Management. “And because of that,
    we don't know what's going to happen over the next year or two years as this exit actually takes place. That uncertainty cause a lot of volatility.”

    “You should buy low and sell high. Well a lot of small investors do exactly the opposite because they follow the latest news. And they take undue risk based on limited information,” said Robert Duvic, distinguished senior lecturer at the McCombs School of Business at the University of Texas.


    Duvic added a diversified portfolio makes it easier to deal with a volatile market.


    “Don't make quick decisions,” recommended Duvic. “Diversify. If you have a 401(k), if you have an IRA, you should be diversified across different types of stocks and bonds, large companies, small companies, international.”


    “As long as you have a diversified portfolio, you need to stay the course, and not worry about what's going to happen. You have a long-term investment strategy, you should be okay,” Smith said.


    Leading up to Thursday’s vote, many polls predicted the UK to remain with the EU.


    “When you look at what happened the week leading up to the vote, the markets were really strong and on an upswing. And I think the expectation was that they were going to stay,” said Smith.


    An immediate impact was felt on exchange rates between the United States and United Kingdom. When markets closed Thursday, £1 was worth about $1.49. After the votes were tallied and markets opened Friday morning, £1 was worth around $1.36.

    http://www.kvue.com/money/how-the-br...fund/255488799
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    Senior Member Judy's Avatar
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    Be sure to let us know when the stocks go back up. That will probably be tomorrow. Alot of stock gamblers bought before the election expecting a profit outcome from the REMAIN winning the election, but of course the LEAVE won, so they had to sell to offset their losses for guessing wrong. When people can eventually understand how truly comical and shallow our stock market is, they probably wouldn't ever invest in it. But it's an easy investment and that's why it's so popular for most people with that kind of money to invest.
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    Senior Member JohnDoe2's Avatar
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    we don't know what's going to happen over the next year or two years as this exit actually takes place. That uncertainty cause a lot of volatility.”
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    Senior Member Judy's Avatar
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    That's Gobalist Crybaby Talk. Don't fall for it. Nothing in the companies people invest in has changed. Nothing in the UK has changed and won't for 2 years. The Brits stayed with their British pound, so there won't even be a currency change issue. The people of the UK just took their country back, how can that possibly be bad for them, for US or for anyone? It's all good, it's all positive. Stock gamblers lost because they bought in anticipation of a result that didn't occur and lost their bets.
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    Senior Member JohnDoe2's Avatar
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    The value of many people's retirement accounts has dropped.
    The money they live on each month has dropped.
    And nothing you say will change that fact.
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    Administrator ALIPAC's Avatar
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    The markets will bounce back.

    W
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    Senior Member Judy's Avatar
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    Quote Originally Posted by JohnDoe2 View Post
    The value of many people's retirement accounts has dropped.
    The money they live on each month has dropped.
    And nothing you say will change that fact.
    Maybe you need to provide some proof of that statement, because retirement accounts are heavily regulated and don't play the same as stock gamblers and "hedge funds" betting on political events. Their investment decisions by law are based on financial strength and reliable financial data.
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    Senior Member JohnDoe2's Avatar
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    Quote Originally Posted by ALIPAC View Post
    The markets will bounce back.

    W
    No one is concerned about next week or next month. It's the future that is a mystery to the experts.


    “What you see right now is uncertainty in the markets,” said Stuart Smith a partner at ML&R Wealth Management. “And because of that, we don't know what's going to happen over the next year or two years as this exit actually takes place. That uncertainty cause a lot of volatility.”
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    Senior Member Judy's Avatar
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    HA! HA! "We don't know what's going to happen."

    Well, let us know when you figure it out.
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    Senior Member JohnDoe2's Avatar
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    Self Directed IRA Investing with Equity Trust Company

    The power of a self-directed IRA comes from the almost endless investment options. You are not limited to just stocks, bonds and mutual funds – you can invest in real estate, promissory notes, tax liens, private businesses, precious metals, etc...
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