News Expect closure of Hong Kong Disneyland and Shanghai Disneyland to impact Walt Disney World

[ImperfectPixie]

It's interesting to me that everyone loves when I post inside information about why Iger steps down two days before articles confirm it. They love when I disclose Close the Gap, SW:GE info, and reveal the Mary Poppins attraction days before it's announcement. Meanwhile I deal with one particularly young Youtuber posting my inside info without credit so that sources go cold. And simultaneously when I post something outside the desired narrative my info disappears.

When I cease providing new info here, remember why.

I really didn't mean for you to get upset. I'm very skeptical of ALL media sources these days. I'm also not doubting that there may be some loose connection between the lab and the market...but until anything is confirmed, I'm trying to stick to verified facts.

Please don't stop providing new info...I've spoken highly of you in my Disney Facebook group, and they love hearing the information you provide.

Unfortunately, we live in a world in which even the most reputable news sources seem to fall victim to placing more value on revenue than they do on their own reputations, so skepticism is a good thing right now. Maybe if more people question what the media publishes, they'll start avoiding sensationalism.

 

[DisneyCane]

Most retirement funds (IRAs, 401ks, etc) are linked to the stock market. Since he is 75, the RMD applies. My husband is in the same situation. Obviously, the portfolio doesn't have the same % of stocks as earlier, but since the account may have to last for another 20 years - or more, some has to remain in the market. The past few years the market has been high, so the withdrawals did not deplete the "principal." But this year, the withdrawal is based on last year, so it is higher than 2019, even though the investment value is rapidly dropping so that the combination of higher annual withdrawal + a correction & possible recession will mean that the amount of "real" money lost will be higher. With no way to increase the account "principal."

I am fortunate that I have been able to continue putting a considerable % of dispersals into liquid accounts so can ride out the storm.

Good point. As I am fortunately/unfortunately far from retirement, I wasn't thinking about that.

 

[larryz]

This assumes a vaccine can be developed. There are currently no coronavirus vaccines.

Israeli scientists claim to be weeks away from coronavirus vaccine

Israeli researchers scrambling to develop a coronavirus vaccine say it could be ready in just three weeks – and available for use within 90 days, according to reports.

nypost.com

 

[mikejs78]

Why? We've seen this entire thing play out many times before. Remeber SARS? Ebola? Mers? This is just the latest iteration.

This is a bit different than any of those. Because many cases are mild and possibly even undetectable, it's much harder to isolate it like those others. It's looking increasingly likely that it will reach pandemic status, although that's not a foregone conclusion. We also don't know what future mutations this virus will undergo. It could become more deadly, or just fade off...

Plus, although it has killed far fewer people than the flu, the death rate is higher, even in developed countries like Italy.

So while it's not time to panic, I don't think we should brush this off either. This is serious and it's hard to know where it will go, so much needs to be done. And it's a foregone conclusion that it will significantly disrupt the global economy for the foreseeable future.

 

[larryz]

I just spoke with him. He's not so much worried about "one down week." He told me to relax but said he's concerned that this is only going to get worse. At 75, I think he's seen a lot in his time to make that assessment.

Please let us know when he cashes out of the market and switches to gold and bullets.

 

[Andrew C]

Please let us know when he cashes out of the market and switches to gold and bullets.

Should I call William Devane first, or Rosland Capital?

 

[WDW Pro]

You were promoting a politically based theory of the origin of coronavirus. There is another forum (Politics and Social Issues) where you can go and continue the discussion.

It was not politically based, and if you felt that was the case you could have moved the posts there.

 

[The Mom]

Good point. As I am fortunately/unfortunately far from retirement, I wasn't thinking about that.

My BIL retired just before the Crash of 87, and his portfolio recovered. He survived the Crash of 2000, and his portfolio recovered. He survived the recession of 2008, and his portfolio recovered. He may not have time to recover from this one, but that just means his children will have a smaller inheritance.

By recovered, I mean that his retirement account not only went back to where it started, but also made gains. I have a Mutual Fund that I started around 1990 that is worth 6x as much now - it did go way down with each market drop, but recovered.

It is still scary to see your account balance keep dropping - even though you've been through it before.

 

[JohnD]

My BIL retired just before the Crash of 87, and his portfolio recovered. He survived the Crash of 2000, and his portfolio recovered. He survived the recession of 2008, and his portfolio recovered. He may not have time to recover from this one, but that just means his children will have a smaller inheritance.

By recovered, I mean that his retirement account not only went back to where it started, but also made gains. I have a Mutual Fund that I started around 1990 that is worth 6x as much now - it did go way down with each market drop, but recovered.

It is still scary to see your account balance keep dropping - even though you've been through it before.

I work for the State of Florida and am in the state's investment plan. (Comparable to a 401k). My current balance has dropped $10k in the last two weeks.

 

[WDW Pro]

I really didn't mean for you to get upset. I'm very skeptical of ALL media sources these days. I'm also not doubting that there may be some loose connection between the lab and the market...but until anything is confirmed, I'm trying to stick to verified facts.

Please don't stop providing new info...I've spoken highly of you in my Disney Facebook group, and they love hearing the information you provide.

Unfortunately, we live in a world in which even the most reputable news sources seem to fall victim to placing more value on revenue than they do on their own reputations, so skepticism is a good thing right now. Maybe if more people question what the media publishes, they'll start avoiding sensationalism.

It wasn't you... we had a very fine conversation. I think you'll note in me replying to you again that something odd is going on.

 

[The Mom]

I work for the State of Florida and am in the state's investment plan. (Comparable to a 401k). My current balance has dropped $10k in the last two weeks.

I haven't even looked to see how much we've lost so far. Still haven't dropped to where we started at retirement (our savings, etc have been growing) so I'm not worried. I anticipated this drop was coming (2008 happened in an election year, if you recall) so had already gotten prepared - my mattress might even be a bit lumpy. j/k

 

[The Mom]

It was not politically based, and if you felt that was the case you could have moved the posts there.

Or you could start a whole conversation over there yourself. Please feel free to do so - there are many people who might share your opinion would love to discuss them with you.

 

[JohnD]

I haven't even looked to see how much we've lost so far. Still haven't dropped to where we started at retirement (our savings, etc have been growing) so I'm not worried. I anticipated this drop was coming (2008 happened in an election year, if you recall) so had already gotten prepared - my mattress might even be a bit lumpy. j/k

I'm looking to buy back into the state Pension Plan. Suffice it to say, two weeks ago my balance was $10k more than what it would cost to buy back in. Now the balance is approximately the same as the cost to buy back in, give or take a few hundred dollars either way. Worst case: when I receive the official docs in 4-5 weeks, if the balance is less than the cost to buy back in, while I could pay the difference, I could let my request lapse and revert back to the investment plan. Guess, I'll just let it ride.

 

[WDW Pro]

Or you could start a whole conversation over there yourself. Please feel free to do so - there are many people who might share your opinion would love to discuss them with you.

Given that I spent significant time finding references and posting them here, I'm not inclined to submit double the effort because you failed to click the "move" button, and instead clicked "delete". Especially considering that even telling Imperfect Pixie we had a nice conversation was deleted.

But please feel free to continue posting and facilitating off-topic conversations (ie social and political) about stock holdings in a thread about park closures, while deleting posts from me about the origin of the virus and how that might impact the speed with which we can get parks open again.

 

[LAKid53]

I work for the State of Florida and am in the state's investment plan. (Comparable to a 401k). My current balance has dropped $10k in the last two weeks.

Did you switch from the defined benefits plan or did you join FRS when that was no longer an option? I have both a 457 (deferred comp) and a 403(b) (annuity) as I was both a state and university employee during my 35 years, in addition to my pension. I will not be a looking at my quarterly statement.

 

[LAKid53]

Please let us know when he cashes out of the market and switches to gold and bullets.

Finance grad here. Now is the time to buy, provided the market has reached bottom and will level off. Unless one is desperate for cash, do not sell in a market that's dropped over 3000 points in a few days.

 

[JohnD]

Did you switch from the defined benefits plan or did you join FRS when that was no longer an option? I have both a 457 (deferred comp) and a 403(b) (annuity) as I was both a state and university employee during my 35 years, in addition to my pension. I will not be a looking at my quarterly statement.

I filed the "paperwork" online yesterday to switch from the defined contribution plan (investment plan) to the defined benefits plan (pension plan). There is a cost to buy back in. The worst case is that I'll be underwater. I could either pay the difference or just let the request revert. It would be like I never elected my 2nd option.

 

[durangojim]

Glad I have at least another 20 years before I retire, by then we may even have a new CEO of Disney!

 

[LAKid53]

I filed the "paperwork" online yesterday to switch from the defined contribution plan (investment plan) to the defined benefits plan (pension plan). There is a cost to buy back in. The worst case is that I'll be underwater. I could either pay the difference or just let the request revert. I would be like I never elected my 2nd option.

When the defined contributions plan was offered back in the early 2000s, I ran the numbers and said no. I was getting too close to my 30 years and didn't want to take the risk, as I was going to go into the DROP. I had to do so by 57 years of age, as I would reach 30 years of service first and not turning 62.

 

[LAKid53]

Israeli scientists claim to be weeks away from coronavirus vaccine

Israeli researchers scrambling to develop a coronavirus vaccine say it could be ready in just three weeks – and available for use within 90 days, according to reports.

nypost.com

Those same scientists report finding a cure for cancer and will be able to eradicate all cancer starting within a year.....