Posted on 02/27/2020 2:25:45 PM PST by fightin kentuckian
Like many Freepers I have a significant IRA account in the stock market. The last couple of weeks have been absolutely brutal and I've watched my IRA shrink by.... A LOT. I'm dying to hit a liberal so damn hard right now. This is frustrating as all get out.
I'm torn, part of me says "ride it out, the market will come back, be cool. It'll turn around in a day or two" and another part of me thinks that this corona scare downturn isn't near bottom.
How are you Freeper, in the stock market, handling this? AND for you Freepers who keep your money in your mattress, thank you but keep your comments to yourself. I'm looking for constructive comments here.
Ride it out. It will come back. If you don’t need the money today, why would you take it out.
As one person said, “The stock market is a place where those with patience take money from those without.”
My wild guess is that short-termers have a problem, long-termers should buy.
I talked with my broker this morning and asked him what I should do
He said “Sell, Sell, Sell”.
Then I asked him what he was going to do
And he said “Buy, Buy, Buy”.
I actually purchased a bunch of stocks today that were really cheap!! My 401K is taking a pounding I retired early because it was doing so well I could!! The market will come flying back and I wanted to do my part to make that happen!! This panic being created by our enemies is OUT OF CONTROL!! I am disheartened that the VERY SMART people on this site are falling for this hysteria!!!
Well you can at least declare a loss on your income taxes.
I remember 2008, the real estate buyer's chance of a lifetime. My only interest in equities is how they affect buying or selling property. I respect those who can successfully invest in stock markets etc. because they understand the complexities, but I cringe when I hear my acquaintances point to the NYSE etc. and make comments such as "Where else can you put your money?" Fact is, a$$ets can be lost in any kind of market; but I just like to be able to touch, walk on, or rent out what I own.
GOLD,SILVER AND LEAD.
I agree. They are in much worse of a decline than most people think.
i agree on the long haul. DH retired in Dec and it’s a little harder to be philosophical right now, but there is little else we can do. Except pray and trust the One who has always provided and follow our retirement plan
I just looked at my 401K, down about 20,000 since i last looked. Buf it had just risen 20,000 to that level very recently. Don’t need to use it, but I do hope the panic calms down soon.
HA, My late husband and I lost a large business under Carter. We just picked up and started over and became well enough off again. Since his death I have let 2 stocks lie and say “whatever”, but I keep a large amount in an interest bearing account, some other wealth in other things. I don’t plan to ever get in the losing state again, so My children will have something if the need arises. (I’m 86).
I’m shopping for bargains.
You did not provide enough information for anyone to give you any GOOD advice. What is your age? How long before you retire? Do you have money in savings and CD? Do you still have kids in school? Are you still paying for your home?
...and many more.
If you are relatively young then my advice is to just hang on for the ride. Your stocks should go back up in time and you only “lose” if you sell too early.
As a note of reassurance: Warren Buffett has said that “a prediction about the direction of the stock market tells you nothing about where stocks are headed, but a whole lot about the person doing the predicting.”
In plain English, that means stocks rarely have an 8% advance in 3 trading days like we’ve seen them recently fall about 8% in 3 trading days. Some would say stocks take the stairs up and the elevator down.
But *stock returns are positive about 65% of all months, 75% of all years, 95% of all 5 year periods, and about 99% of all historical 10 year periods.
_________________________________________
My opinion as daily stock trader-selling now may be closing the barn door after the horse has left.
What I did is set up some defensive puts that are off setting some of the losses and buying on dips some of the companies working on virus , HHS IS working with Regeneron, Regn on antibodies-they shut down ebola, with Vaxart Inc. (NASDAQ: VXRT, Moderna, MRNA on vaccine and even some N-95 mask makers like LAKE, APT
Hypocritical Pelosi and Schumer are playing politics with the Corona Virus and people are already panicking.
Trump took too much of the Rush Limbaugh approach (hey regular flu kills too) and it did the opposite of what it intended as evidenced by market sell off and people panicking more. Trump or Pence should speak more to specifics such as HHS collaboration with REGN
Don't have an IRA...and have not for 45 years...
Sell it now and give someone else a bonus. Geez
Real estate can be a fine investment, if your time horizon is long enough, and you are sufficiently liquid to withstand downturns. I have seen people who “put it all in land,” and then get jammed for cash and have to sell in a down market.
I saw a ton of ENRON owners ride it out...to the bottom.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.