Looking at my IRA now. Thinking about putting it all into a cash fund. Like I did in 2008 and lost nothing in the crash.
The time for talking and thinking is over. Better to move your money right away. I’ve moved mine two times in my life ahead of major sells offs in the market and was criticized by my broker and friends for panicking too early. Well, I never lost a dime but my friends and the broker did big-time because they waited too long trying to squeeze every last penny out of the stock market rise.
When everybody realizes the market is diving, it’s too late. Seek safe harbor for your IRA in cash money market accounts or metals as soon as possible or you will kick yourself for waiting too long to act. I can smell a major downturn coming soon. When the stock market reaches new highs and then the engine starts to sputter with volatility like it has this last week, it is getting ready to blow a gasket or break a piston and drop in its tracks. You can always move it back into the equities market when, and if, it recovers. I’m retired now and can’t earn enough money to start over again, so I’ve kept my money out of the market since the summer of 2008 and have never gone back. But my principle is safe for now. I got out that summer before the September crash when several of my friends lost over half their retirement nest eggs before they knew what hit them. Unfortunately for them, they had to keep working and will into their 70’s to make up their losses, while I was able retire to my cattle ranch in Florida.
Smart you say? No, just cautious with my hard-earned money.