I keep remembering all those talking heads who told me I was an idiot for keeping my money in the bank.
RE: “I keep remembering all those talking heads who told me I was an idiot for keeping my money in the bank”
AGREE!!! I am so glad I’ve stayed in cash investments all these years except for the IRA (from old 401K) I’ve got with Vanguard. Finally (weeks too late!) moved stock funds into their money market option today. No way would I close out the account and pay those taxes.
Have always considered this my “play money” and the only funds I had anywhere near the “market.” Too many reliable people in my life over time warned against gambling on the market and while yes, some people do really well, many more never do anything but lose.
Now I’m hearing all those old adages like “cash is king” and “stay liquid” and more. Also “slow and steady wins the race.” My (deceased) mother is screaming “I told you so” from her grave. :) She was a child of the depression and lived all her adult life like the next one was just around the corner.
Things will come back, no doubt, but how and when is in question — so much more is coming into play now and the whole world seems to be tanking.