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.
I'm not usually big on conspiracy theories, but in recent days I am beginning to wonder if China did not orchestrate this in order to disrupt our economy. We all know of their past currency manipulation and technology theft, the tariffs, etc.
I have not looked at my Vanguard for the past month and am in no hurry to do so.
Is your IRA non-Roth or Roth? If non-Roth, consider now a good opportunity to convert to Roth under the new law. You will pay the extra income tax next year, but no penalty, and over the course of the next twenty plus years, your tax savings could be huge with Roth going forward being non-taxed income. I’m have been in the process of doing so for myself this week. Fingers crossed I live that long, my savings in taxes during retirement is in seven figures. But I have actually been looking for this correction as I had my retirement folks do all the analysis for me ahead of time. With the correction, I have converted about 15% more of my non-Roth shares for the same price than if the market had not corrected.
Then the only thing to do is sell.
Buy high, sell low, that’s my motto.
stay the course
I don’t pay attention on a daily basis. And right now, I’m trusting PDJT to get the ship righted and rise the waters for all the ships.
What are you complaining about? Take every extra dime you have and put it in the stock market right now!!! This is an opportunity of a lifetime.
I haven’t looked to see how mine is doing. I’m sure it’s down a lot. I’m a few years out from retirement yet so I’m not worrying about it.
If I had some money to play with, I’d be buying right now.
It will happen almost all at once. The DOW will go up let's say 1200 in one day. All the chicken littles who bailed out at the bottom won't have time to get back in.
I agree. Take the long view.
The last couple of weeks have been absolutely brutal and I’ve watched my IRA shrink by.... A LOT.
Actually it’s just the past week that’s been brutal.
Did you think things were just entirely normal when it was going up by three percent a week for about a month and a half? The S&P’s still up 12% from a year ago.
I can tell you what I did on a small trading account. Probably to the penny interns of fun money.
I look at the 401k every quarter. Looking at that every day would drive me more nuts than I am.
I’m in it for the next 10-20 years. Taken a good sized hit, but I only even look at the 401K three or four times a year, when they send me statements. If I thought I might need my funds anytime in the next 5 years I’d be upset, but then if I though that was the case, I would be in a S&P 500 index fund. Have everything in market index funds, no worries. It can go down to 22,250 and it will be back to flirting with 30K in a couple of years.
The market is the ONLY place people run out of the store when they’re having a sale!
Few can beat dollar-cost averaging into a market index fund, I know I can’t.
I retired early because my 401K was in such great shape I could!!! I hate these Dem BASTARDS anything to get Trump and his supporters!!! I am very surprised however that our side is falling for this utter BS!!!
When I turned 50 (a few years back) I sold off my some of my “growth and income” and put the proceeds into a “bond fund”; all within the IRA or course. Because I heard that when you’re 50 you should have a “50-50 balance, stocks and bonds”.
So for years I watched the G&I fund skyrocket and was kicking myself for selling off so much of it.
But this week, I’m not so sad anymore. Bond fund is up (slightly).
Wish I had $$$ in the market... Vegetable market- Yes.. Stock Market = none...
Personally, I'd wait until November 4th, the day after his re-election. They're going to throw everything at him (us) and the thought of President Bernie will shake the markets hard until election day.
It all depends on your age and when you plan to retire. If you don’t plan on needing your investment for the next 3 years ? Don’t even think about selling. It will come back, quick... but you can’t predict when. Be HAPPY that stocks are “on sale”.
If your time frame is shorter, you shouldn’t be invested so heavily in stocks.
Oops, I meant to say “if I thought I might need any of it in the next 5-10 years, I wouldn’t be in a S&P 500 index fund!”
If you sell at a loss, you will never recover what you lost.
It’s white knuckles time! Mr. Roo Roo and I have weathered previous stock market free-falls, we’ve never panicked and sold stock because of panic. But at times we did have white knuckles.
We’ve dollar cost averaged for almost 30 years, we are staying in the market and will soon go shopping for bargains.
They will have put their dough in Beanie babies or some such...................
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