Right on cue. Bobo needs a hook to hang his hat on so boom the GDP is so high the financial world goes crazy. Why was the GDP so elevated one might ask? Well you know Biden increased oil output for the US the end of October. Guess what happened to 90% of that oil. IT GOT EXPORTED = GDP increase. Next, one other export that inflated that number. You guessed it ARMS. Military aid. Humanitarian aid.

Last week market had 3 bad days but Biden adm revised unemployment numbers and pop goes the weasel. I'm sure several on here are way up for the year (on paper). But I have friends that have their 401 k in the market and call wondering why they are still so far in the red .

Government spending is also included in the GDP.

Yes all government purchases etc. federal, state and local are included in the GDP with the exception of transfers and social security.

Bryce

How did Biden increase oil output in October? Didn't even know he was in the oil biness?

Wars are always great for the economy.

lifted restrictions in the usa.

They're definitely doing something wrong or taking the wrong advice.

X2. Must be invested in the wrong segments of the market

Only thing I can find is removing sanctions against Venezuela for October, 2023.

And why I'm going to get as close to maxing my 401 limit out early in the year and then lowered it just enough to try to get 100% of my company match for the year.

I figured it will be an off the charts year for the markets to make Biden look good and I want to have as much in the market as I can early in the year to take advantage of that growth.

Hmmmm

What do you think of my backwoods assessment? On target or tin foil hat?


My next issue will be to guess when to back it down. Now I'm putting in 25%. Made 124.700 last year. BUT I only worked 14 days in oct and November and had cut back on hours some about August. I can't guess so will take the wait and see approach and back it if when it hits ? Amount for the year but I can't even figure out what that amount should be. Put in 3225.75 ytd and made 12,7xx.xx so far. Should be around 16k next Friday.

I'm sure someone better at math could figure out a formula but there are to many unknowns for me to . Mainly #of hrs pre month worked by the month. This week I have 88 and am shooting for 96 last week was 44hrs next week who knows.

But I will have more hrs in the first 6 months of the year I do know.

Well I think your determination to put away as much as you can AND maximize the company match makes perfect sense.

The reason behind it may not be the same as mine but that doesn't matter. The fact that you are doing it is the important part.
I don't think the markets will take much notice of the election until after Labor Day. Until then, the Fed is front & center in the market's thinking.

The markets hate uncertainty and they get that with both candidates. Whatever the government spends, the Fed has to try to offset. But I suspect the markets will view Trump as more of a wild card, and thus a greater uncertainty.

The Fed can disappoint the markets easily this year and I think that is getting closer.

The Fed has indicated they MAY reduce rates as many as three times in 2024 but the market heard that as 7 times. So I expect some disappointment one of these days.... maybe even next week after the Fed meeting. Pay attention to what Powell says and how it differs from what he said last month.

The last time the Fed was really political was when Yellen was the chairman. Thank god she's not still there.

Just have to make your plan and stick with it until the circumstances change. At this point it is all based on the Fed IMO

Thanks White17. Always appreciate your input.

Probably worth exactly what you paid for it !!

)))))))))!!!!!!!!!

Yep I plan on Maxing out both Roth and 401 limits among other investments Each year hopefully I can retire like plan at 57 and one month old and live a comfortable life style. I figured more time in the market even if it's only a few months more on small amount could help.

I always appreciate your thoughtful responses.

Be careful about maxing out a 401k. I did that, at one point putting in 50 percent of my salary. When I retired I had a “goodly” amount of money in the thing. Because of other investments, I make more money now than when I was working. I have moved my self into higher tax brackets. When I start taking my money out of, what was a 401k, but is now a traditional IRA, I am going to be paying more in taxes than I would have before I retired. I kind of wish now that I had just put enough in the 401k to get the company match. I should have taken the extra money I put in and invested it in other things. I would have paid taxes on the money at a lower rate.
I also maxed out my Roth, but that doesn’t affect my taxes.

Sullivan K, you need an enjoyable business that despite your best efforts, loses money. You can make vehicles and other stuff part of the business. You can deduct business losses from your income.

You mean like trapping?