Nah, sell them anyway. If you continue to want market exposure, invest the proceeds in a market index.
A lot of restaurant workers are going to be absolutely screwed by this.
Agree. What I’m saying is that probably only 5% of the population understands that we are taking drastic measures to “flatten the curve.” 95% of the population is on one end of spectrum or other: 1) they think it’s no big deal, overreaction! or b) it is a super deadly virus that they never, ever want to get under any circumstances even as a healthy young adult.
The middle ground of we need to take it very seriously to slow the spread but chances are you’ll probably eventually be exposed to it anyway doesn’t register.
I explained the truth to someone and they were like that makes sense but I feel wildly mislead. I said the CDC/WHO explained it accurately, and he was like yeah, but obviously the info gets filtered down incorrectly by the idiots among us.
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For those who haven’t sold yet, you have to ride things out at this point. I planning to start dipping back in, currently 50% stocks, 25% cash, 25% bonds moving to 60% stocks and 15% bonds wherever the market closes today. Will probably shift another 10% to stocks with another 5+% drop. I think the market is now pricing in Trump managing this thing like a buffoon but as others have said when the us hospitals are overwhelmed it will be the next major shock. Given China seems to have it under control and Italy might also be leveling off the growth I don’t want to miss the small chance of a sharp bottom.
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Agreed, but that’s a relatively small sector to help out with some temporary UBI. With time to prepare they could tell restaurants to file some form online to verify people being furloughed, and those people then show up and get $X per week in cash.
I have a few questions perhaps you clever people in the thread could help me with.
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I have some cash (approx 20k) that I want to make use of. I have no emergency fund, so basically this is it. My plan was to look for some signup promos for different banks where I can park the money for a few months, shift to the next one, etc. Any suggestions on where to look?
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If I wanted to put money into the market (index funds most likely) what do you think is the best place for me to start? I mean what website do I need to go to and join in order to start making this happen? I am a complete n00b and not from the US originally.
Feel free to just link me off to a blog post or something if that answers number 2. I know I am asking some pretty basic questions and could google it, I just figure I will get better information from people here.
Okay, I don’t understand what the Fed repo thing is. Can someone explain what repo is? They buy bad debt and then sell it back cheaper? Basically just injecting massive amounts of free money and liquidity into the market?
For those who didn’t see yet, the NY Fed is taking massive steps.
Same. If anything, the resemblance to 2008 is comforting. The market roared back in a big way following 2008 and there’s no signs that the US government is any less committed to protecting the capitalist class at all costs.
For #2 I’ll give you a very basic answer that may not help you, but it’s a start. Just researched the same thing to start a SEP-IRA that I put a large (to me) sum in. You want someone with no fees on trades, cause that’s standard now, and you want a good reputable brokerage with lots of available research tools if you’re ever interested in that. I picked Schwab, so far I’m happy with it. You can buy the Vanguard funds there, which was important to me cause they seem to be the best. Others to consider would probably be Vanguard and Merryl. Do not pick Ally. I have them for my Roth, do not like them, and will move it away from there at some point.
For index funds, ETFs will probably be easiest for you, VOO is the Vanguard S&P 500 fund and VTI is their total market fund as someone in here told me yesterday. QQQ is the NASDAQ without the finance companies, so lots of tech - but be warned in the current situation, it’s got a decent little chunk of healthcare industry exposure too.
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Thanks, that’s perfect.
My wife leans on me to be solely responsible for household investing, but she inevitably asks questions in melt downs like this. She is a psychiatrist so she gets the emotions and psychology at play. My overall argument for her is “we don’t develop our investment strategy during a crisis, we develop it in a calm state of mind and execute it in a crisis”. She gets that, even with practically no training in investments, but she’s way smarter than the average person.
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Man, I went out to buy canned goods and come back to see the market has bounced off the bottoms. I should’ve bought before I left.
By the way, first day that my grocery store is out of toilet paper. I was there yesterday and there was plenty.
Have to turn off tracking in this thread because when I see many new posts I just get more nervous. Luckily I failed to move a lot of money into the market the last 3-4 years, so I’m essentially 50/50 stocks cash if I look at entire net worth (before the 25% drop). Trying to think of that right now.
Lived through 2008-9 but the numbers in retirement accounts were much smaller then. Staying the course, and trying not to panic.
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Fed injecting $1.5 trillion wat
Coronavirus is gonna take care of that for us.
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BUT HOW WILL THEY PAY FOR IT?!?!!
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Medicare 4 The Economy
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I’m sure they’ll just write it off.
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Not even. Medicare for the Stock Market is more accurate.
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Down 700 since this point