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Lost Money in stocks (Me too) - See my baby boomer portfolio

BY: Tim | Category: Men | Post Date: 2008-10-09
 



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   Tim
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I wrote an article about "Money management tips for baby boomers. Retirement finance & money matters" a few months back when the stock market was still doing fine. This is what my Nest egg portfolio looked like then:

1. Gold 20% ( Average cost $650)
2. Retirement accounts - 50%:
    Money in these accounts was divided as follows
    - 34% of allocation is in bond funds
    - 33% in S&P 500 and
    - 33% Asian stocks mutual fund
3. 30% in high interest CD's

When the bad news had started to come in I had increased my allocation from stocks to bond funds (thank god it worked out).

Fortunately, so far I have a 35% profit on my gold investments, 10% profit on bond funds, A 20% loss in S&P 500 and a 30% loss in Asian stocks. Overall I have a loss of about 5% in my entire retirement portfolio. As a baby boomer I have been a bit conservative in my investments. Even if the stock market goes further I am not worried much because I have a good distribution of my funds. I do not own mortgage on my house (its paid off).

My next move is to watch out, if Dow Jones goes below 9000 I will transfer money from bonds to stocks back to 33% even. If it goes less than 7,500 I will put even more money in stocks leaving just 20% in bonds. When it comes to stocks I prefer to hold them long and not get panic.

Well here in Michigan, weather is fine but economy is pretty bad. There is some of fear among auto-workers regarding the economy. Elections are getting close and I am voting for Obama this time. Thanks to 8 years of Bush, I have lost faith in Republican party. My old Chevy truck is running perfectly fine, many people have switched to Japanese models like Prius but I prefer the "Made in America" brands. When the stock market goes up I will buy Ford focus hybrid. I am a baby boomer and have lived life responsibly ... ALWAYS !!


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