Investing (aka GameStonk and other gambling events)

[Tilted]

I should still be maxing my 401k and HSA right? I’m 29. I’ve got between 3-6 months of an emergency fund saved up.

[ViridianDreams]

@anon38180840

@ViridianDreams

Ignorant question, what would be the effect of just closing/halting trading for like a month or two till we get through the worst of the pandemic?

People who need to sell stocks to cash out and pay living expenses due to the economy being in the tank are unable to do so.

It seems like this is a temporary/short term problem that could be solved through government assistance, though.

[anon38180840]

@ViridianDreams

@anon38180840

@ViridianDreams

Ignorant question, what would be the effect of just closing/halting trading for like a month or two till we get through the worst of the pandemic?

People who need to sell stocks to cash out and pay living expenses due to the economy being in the tank are unable to do so.

It seems like this is a temporary/short term problem that could be solved through government assistance, though.

Sure, if the Senate GOP and Trump are willing to give money to poor people to not starve and to pay rent. They’re going to have to to get us through this, but we still have to wonder if they will.

[Chippa58]

What’s the view on whether state lotteries should continue during the crisis? The state needs money but poor people need it more and lotteries are a total scam.

[anon10387340]

My strategy of placing our emergency funds in Roth’s seems to have some holes in it at the moment.

[ViridianDreams]

@anon38180840

@ViridianDreams

@anon38180840

@ViridianDreams

Ignorant question, what would be the effect of just closing/halting trading for like a month or two till we get through the worst of the pandemic?

People who need to sell stocks to cash out and pay living expenses due to the economy being in the tank are unable to do so.

It seems like this is a temporary/short term problem that could be solved through government assistance, though.

Sure, if the Senate GOP and Trump are willing to give money to poor people to not starve and to pay rent. They’re going to have to to get us through this, but we still have to wonder if they will.

Oh, definitely. I was thinking more in a hypothetical world.

[anon38180840]

@Tilted

I should still be maxing my 401k and HSA right? I’m 29. I’ve got between 3-6 months of an emergency fund saved up.

We’re in an unprecedented situation. What do you do for a living? Is your job 100% safe during a recession? During a depression?

[suzzer99]

@Riverman

Nobody I want to hear from less than Jim “Bear Stearns is fine” Cramer.

Get an actual expert up there, assholes. Like former Fed or Treasury officials. This network is a clown show.

He was even worse during the dotcom days. Battapaglia, Blodget, some others I’m forgetting all went down for their ridiculous cheerleading calls. But Kramer just skated through somehow like always.

[anon10396289]

And the first clinical trial of a vaccine in the US started today. Things are going to turn out OK.

[anon10396289]

Some of you dudes need to get a handle on your nested quoting ITT. Bad!

[suzzer99]

@d10

Is it time to start thinking about which bank/retirement accounts in my name would be able to honor a withdrawl and/or whether USD will remain a useful currency in post-covid society? To be clear I don’t think those are thoughts worth acting on right now but things are progressing quickly and I have no idea what I would do if that started to look like a valid concern. Bitcoin is clearly worthless, and I’m not sure about gold either. It’s gotta be something with real value. Also I’m not buying guns and ammo cause if that’s the kind of world we’re in for I don’t even want to be a part of it.

I got laughed out of BFI a few months ago for saying when the shit hits the fan (not covid but whatever) I want to be in Euros and not in a US bank.

No that I think Euros would be the best thing in the world. But I think they’ll hold out longer than everything else - unless Merkel gets replaced by a nationalist dipshit.

[ViridianDreams]

I’m definitely not up on best practices in this respect.

[anon10396289]

Best practice is:

Michael Jordan: Stop It, Get Some Help

[suzzer99]

@bbb7979

If we really go down 20% and S&P gets near the 2200’s i will be buying more.

I don’t buy into all of this post currency or majority of corporations will be insolvent drama. There is positive news in China, cases are trending down there. We still have a couple weeks of it getting worse before it gets better but all of these lock downs are a positive step. If cases start declining or flat lining at a treatable amount then I think we will see a rapid rebound in asset prices. Bailouts will take place as needed. Trump’s fixation on stock market levels almost ensures that equity won’t be wiped out when this happens. We could continue to decline further in the next weeks but this is not a society ending event if the majority of deaths remain limited to the oldest demographics

I agree this is a very probable outcome. I just worry about the bottom 10% of outcomes where people get super angry and super desperate.

[dlk9s]

Keed giving lessons on good posting ITT.

[Tilted]

I’m not trying to make money during this. Just sustain. I mean I could reduce my 401k amount and put an extra $1k a month in my checking account, or I could just leave it and continue to max.

[suzzer99]

I feel like there is a way out. Lock down for 2 months. Then let the youngs back out to get the economy going and test massively and isolate. Do what S. Korea is doing.

[mosdef]

@Tilted

I should still be maxing my 401k and HSA right? I’m 29. I’ve got between 3-6 months of an emergency fund saved up.

Yes, especially if there is an employer match.

[Crunchyblack]

Keed has the widest posting range of anyone I’ve ever come across

[Tilted]

100% match up to 5%. Sounds like I shouldn’t touch a thing.