I knew. I knew that I wouldn't be touching any of my funds until 2026. Just watched the value fall, but kept on buying every paycheck, and every month.
People look at it like a savings account rather than what it is, a long time investment for when you fully retire. Early on, or mid way through that investment, a market tumble is a huge buying opportunity.
There are certainly times when I think about getting ALL of the money I have in banks and other institutions, that has already been taxed, converted to cash. I'm not even sure how to do that. I know they don't just have that much money laying around. The way things are going, that's not even a guarantee. Jay
Since all investment advice is based on past trends and the current way off life is upside down there is NO correct answer on what to do!
Paper is only worth something if it can be exchanged for goods and services. Same with gold, platinum or diamonds. Me, I've been laid off since April 1 and decided to retire early. I put a big chunk of money in the market in mid-March and it is still up as of today but not its max. I've got about 12% of all my non-real estate, non-car assets in cash and the rest is in 401k, Roth-IRA and personal investment ETFs. I plan to never work a job for need again in my life. The worst day in 2020 hasn't changed my mind.
One more time, unless you need the money within the next 2 years or so, you should look at major market dips as a buying opportunity. It's a LONG TERM INVESTMENT, not a bank account.
Same here. Have lots of stuff that I can't touch until 59.5 and I am 58 now. That said wife and I made a large investment using our advisor of many years back in April. We too are nervous just like everyone else and but have cash reserves. No telling what the future holds but we can only hope things get better!! We do not buy into the sky is falling scenario the media is pushing this election year! Hope we are right!!
So if you took your stimulus check and invested it in the stock market in April into Tesla it was about 400 bucks a share. From there it went up to 800 then did a 4:1 split and now is almost 900. So if you had 1 stock worth 400 now you would have 4 worth 900 each. Also southwest air line has more than doubled its shares since May as well as Norwegian and carnival cruise lines and they could double again to get back to where they were before March.
Should have bought that Tesla stock after he smoked that joint in that video. It went down to the 200's after that. 2 shares back then would have made you a pile of cash now
The investment I made in March isn't quite as good as Tesla but I'm doing OK. The fund I bought March 10th is up 44% and the fund I bought March 31st is up 52%. That doesn't count dividends or reinvestments either. I wish I'd bought more.
Even though we are on about an 11 year run (other than 2019 ending negative) most are looking long term so buying all the time. Certainly better than never investing. Young people should be contributing every week. It’s scary how many don’t even take advantage of Company match programs, especially with time on their side. Starting early can make all the difference.
I’m in retirement so only buy equities or hi grade bonds that pay good dividends. The only stocks I sold when COVID-19 hit were those who cut or cancelled dividends like Ford and GM. Replaced them with high divided paying bonds. Our monthly dividends and acccount balances are now back to where they were pre COVID. The name of the game for us is patience and staying the course.
