Anyone else getting depressed over the sharemarket?

[BradK]

This is the sort of time that options can help the long term investor. They have an image of being risky and for smart@rse traders. But there are very basic, conservative strategies that can help.

For example,selling covered calls over your holdings.

Hi, agree.

Covered calls have far been my bread and butter since I got into this lark a number of years ago. Although, I quit writing them in August 2007 and pulled everything out. Thinking of dipping the toe in with a long dated call (about 12 months) and writing against that over the next year and see how I go. Used to LOVE writing against OXR/ LGL/ OSH.

Cheers
Brad

 

[pepperoni]

Have been predominantly in cash for 2 years anticipating this (missed a bit of up but dont care just wanted to avoid this dip) and 99% in cash since early July.

So no Im not depressed.

I got a little depressed when things kicked ater the initial credit crunch but lately I simply could not have been happier

 

[Prospector]

Why pay a financial planner. Don't centrelink have financial advisers that will help for free?

Have you ever dealt with centrelink?

Centrelink cannot advise you on how to structure your finances so as to get maximum financial benefit from the Government; they will simply act on what you have done. Only people who have obtained Financial planning certification are allowed to advise on financial planning matters, and centrelink people dont have those qualifications.

 

[numbercruncher]

Anyone else getting depressed over the sharemarket?

Not at all, this has been one of the most predictable events in modern history ...

I even recall several posters on this very forum giving you all the big tip well in advance ....

Happy days ..

 

[Julia]

Have you ever dealt with centrelink?

Centrelink cannot advise you on how to structure your finances so as to get maximum financial benefit from the Government; they will simply act on what you have done. Only people who have obtained Financial planning certification are allowed to advise on financial planning matters, and centrelink people dont have those qualifications.

Prospector, perhaps this varies through the various Centrelink offices?
A friend of mine went to one of their retirement seminars and subsequently had a private appt with their FP. That person was fully qualified as a financial planner and adviser. She did receive several really helpful suggestions about how she could restructure her situation in order to attain more Centrelink benefit and was more than happy with the result.

She felt that - in contrast to a private FP she'd seen previously where his interest was in trying to sell her managed funds - the Centrelink adviser had no axe to grind and was completely objective in making recommendations.

 

[Kauri]

Prospector, perhaps this varies through the various Centrelink offices?
A friend of mine went to one of their retirement seminars and subsequently had a private appt with their FP. That person was fully qualified as a financial planner and adviser. She did receive several really helpful suggestions about how she could restructure her situation in order to attain more Centrelink benefit and was more than happy with the result.

She felt that - in contrast to a private FP she'd seen previously where his interest was in trying to sell her managed funds - the Centrelink adviser had no axe to grind and was completely objective in making recommendations.

butt now to stop peoples on .. ahhh... centrelink, the agency to help those nwho are genuinely in strife and can't find work, from phoning, (usually on a mobile), to simply get a ref. they can quote, to say they are really looking for work!!!! mayhaps there is a Fed scheme that refunds my costs in fielding these stupid... aaahhh.. mayhaps one of them is genuine, so what can you do????
Cheers
..............kauri

 

[BradK]

My tax agent was also moonlighting at Centrelink, so got me a PACKET back in regards to family benefits that I just would never have asked about or claimed because she knew the ins and outs. Some of them are really nice... although, walking past the Centrelink office in my city, I can hardly tell who is the client and who is the staff they are that scruffy