(Topic ID: 264610)

Financial Advice During These Strange Times

By No_Skill

4 years ago



Topic Stats

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#1 4 years ago

One thing I love about Pinside is the wealth of general knowledge and wide range of perspectives. During these strange days, what financial advice would you offer your fellow Pinsiders?

#2 4 years ago

If you're young you still have time, just weather the current storm and wait for your investments to recover long term.

If you're old (like me) kiss the drop in value to your 401K goodbye and avoid all unnecessary purchases going forward.

#3 4 years ago

Markets will bounce back. Make sure you have enough cash on hand to weather 18-24 months

#4 4 years ago
Quoted from littlecammi:

If you're young you still have time, just weather the current storm and wait for your investments to recover long term.
If you're old (like me) kiss the drop in value to your 401K goodbye and avoid all unnecessary purchases going forward.

everything that was lost recently will be back plus some fairly soon. Unless you plan on saying goodbye in the next month or so everything will be fine.

#5 4 years ago
Quoted from littlecammi:

If you're young you still have time, just weather the current storm and wait for your investments to recover long term.
If you're old (like me) kiss the drop in value to your 401K goodbye and avoid all unnecessary purchases going forward.

This is the answer. No more replies needed. Move along.

#6 4 years ago

Debt bubble is popping, these companies have so much debt. I would not expect this to end soon or well.
Anyone saying it will be over soon, is hoping the world stops changing and is living in the past.
It’s the future, change the way you think and forget pretending we will be going back to how it used to be.
The internet is crushing old moldy business.

China will be 1# in months not years.

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