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Quoted from JY64:Funny to see how quiet this thread has gotten now that the market has tanked my best investments last few months selling pets at 36 selling sq 86 selling netflix 342
I’ve got a 13% return on the market over the past few years even with current down turn. So what evs
A financial advisor could help, but the old adage is no one will take as much care as managing your money than you will. But you need to put in effort to learn a bit about how investing and taxes. If you do get an advisor you want someone that will work on a “fee only” basis (no commissions). They do exist and usually choose to provide service that way as a matter of principle.
Quoted from Spyderturbo007:My poor 401k is down almost 30% in the last few days. I've been putting 26% of my pay in there for a long time now, just to watch it vaporize. It takes soooo long to accumulate and it disappears so quickly.
I have plenty of years left before retirement, but it's nauseating to watch it happen.
Worry not. It will come back. In 2-3 years.
Quoted from DBLM:I personally hit the nuke button today and pulled out. Did this in 2008. Is sucks, but based upon the data that I have this is going to get a lot worse before we rebound. I think the rebound is going to be spectacular, so this is a way to preserve capital now to make up more than my current losses on the recovery. Moves I made the past 2 weeks did limit my downside, so that is a minor win. Good luck to all.
I don’t follow. All you did was lock in your loss. What’s your strategy from here?
Quoted from DBLM:Everybody has their own investment profile. In 2008, we nuked early, rebought near the lows, and rode the market all the way back up. By the point that we got to my exit point, I was up much more significantly than just getting back flat. I have now very significant powder to re-enter where I like, and buying stocks at a great discount to where we are now. This strategy is not for everybody, but is one that my financial team and I came to and I am fine with it. To answer jackd104 point, the strategy is to buy much lower than where I am now, and have better leverage. On paper, it is a loss, but I am betting that I will make more money on the ride back up to offset the loss.
This is not a fear thing at all, to address phil-lee. This is a cold and calculated strategy. In talking with my team and based upon the information that came out today, this epidemic is going to last 8-12 weeks or longer. With businesses shutting down, the market is more than likely going down a factor from here.
Again, everybody's circumstances are different. I am early 40s, so have plenty of time until retirement. I have considerable resources, so when I move in, I can and do so in a big way. I am also an active trader, and pay active attention to the market. My goal is not to time the market for the bottom, but to reenter on the way down and ride it back up.
Good luck to all.
I still don’t get it. You sold after it already dropped 20%. Some day it will be where it was before the drop. And then some day later it will be far higher than that. When those days come you will be worse off than if you just left your money in. If anything you should be putting more in now. But anyway. I wish you luck.
Quoted from Spyderturbo007:Gotcha, thanks! As for the taxes, can you use some of the conversion to pay the taxes? Meaning if I were to convert $100k, I'm assuming I need to write a $22k check for Federal taxes and then whatever my rate is to the state?
I'm thinking it might not be smart to remove $100k from a 401k, only to reduce my investment in a Roth by $22k to pay taxes. Or maybe it would be....
Interesting paper about this that extrapolates both options.
A few weeks ago a family friend decided it’d be a great idea to make some money on short term trading with individual stocks. We tried to tell her: bad idea. She bought Netflix of all things and, yeah, $12k gone. It wasn’t money she could afford to throw away either. Sigh.
I have mainly s&p 500 and bonds. I am a long term guy and am not selling anything. But I do have plenty of cash to invest as well. What would you invest in the present market?
Quoted from WeirPinball:Part of my success was both my wife and I have a set of Aunts and Uncles that were well off and lived the country club life, until they lost their jobs. Watching them go from riches to scraping by influenced us to live well below our means. Sometimes the best examples are of what NOT to do...
Welp, if they lost their jobs and everything went to pooey, they weren't really well-off at all, just spending up all their means like most people. I don't mean to discount your lesson, as it still motivated you to be prepared. Just saying there's a difference between well-off and the appearance of well-off 
Quoted from Elvishasleft:They are all full of shit... as is the current administration.
A timeless sentiment that is true in any year of all of American history!
Quoted from Ericpinballfan:Just curious if some will chime in please.
I own mostly individual stocks.
How many individual stocks do you own?
I average about 75-90. Even on down days I can be up overall. I feel like sometimes I have my own index fund I'm spread out over most every sector.
None. All index 500. Even with current downer my return is about 11% apy over last 10 years. Which is good enough for me.
Quoted from Jkush18:It’s also what you could expect return wise annually going all the way back to 1929. We’ll done sir!
Right. Take the long term. I don’t see it as the market just dropped. I see how much I have made over the years.
Quoted from radium:My 401k has tanked so hard I've lost almost 50%... I should have ate the withdrawal penalties a year ago when I saw this coming and I could be on a buying spree now.
Hmm wonder what your allocation is? The S&P has only dropped something like 20% I believe. Anyway sir, not to worry, just be patient and it will come back. It probably would have been a mistake to take the penalties in the long run for the reverberations that would have on your compounding.
Paranoid money question. How to protect some assets from total collapse of the United States to allow for bugging out to another country without wealth being destroyed? You may think I’m nuts. And while that may not be likely scenario, looking what’s happening within and without, it’s certainly more likely than it’s been In the last 150 years.
Quoted from Zablon:I guess the funniest thing is thinking that if that happens he's going to be able to bug out.
My wife lived through a revolution in another country and her family did just that - bug out. They were wealthy. It all evaporated. They had to start from zero in a new place. It happens and it is possible to bug out, even more so if you have a plan. I’m not a doomsdayer or prepper. It’s just another hedge like any other investment. I wouldn’t gear my whole portfolio toward this, but If I can put a couple extra hundred thou in a safe haven why not? From what I have read so far options are foreign currency, Swiss accounts, gold. I’m pretty savvy with more traditional investing but not so much in this type of thing.
Trying to time the market isn’t investing, just gambling. And there’s nothing wring with that as long as you recognize what it is. Gambling is a timeless pastime for many.
Quoted from kool1:Lows are in for the market - you should not worry if you are a long term investor. Great time to buy in.
Agree. If you don’t need it for 7+ years put it in stocks. I would do s&p 500 index fund. I’m boring like that. You could put 20-30% in something else if you want to diversity a little. Bonds, a REIT…
Quoted from jchristian11:Not so fast...
Meh. If he’s a long term investor this is still right. About any time is fine to buy. And it’s certainly low now. Maybe not lowest but in 10 years it’s not going to matter much.
Quoted from iceman44:How many years will it take to recover -15% in Bonds?
Take a look at the past 10 yr returns. !
That said, Bond inflows into HYG, TLT etc are at a record pace thus far in 2023. Why on the longer end of the curve?
Rates will drop in 2023. Already happening. Bonds should recover some of the losses last year. Then what?
Articles are being written in numbers re the death of the 60/40 model.
After this next rate drop, minuscule as it might be, I’d find another option for the 40%. There are a few good ones
Typical advisors like Vanguard, and many others, had a shit year. One of the worst in history in “real returns” factoring in inflation, worst since the Great Depression
I’d be interested in your thoughts for that 40% instead of bonds.
Quoted from pinnyheadhead:Did you hold bonds and find out the hard way they are not “safe” or looking to buy from down here?
I’ve had bonds since before the drop. Maybe 30% of my stocks/bonds portfolio and like 10% of entire portfolio. I’m riding it out. Generally don’t sell low, that seems like a sure fire way to lose. If anything I would be apt to buy more. Bonds are boring and I don’t expect exciting things but would be nice if/when the return to even or a few %. My entire return over past ten years is like 15-20% APY including real estate stuff so it’s no biggie. That’s how I look at things rather than what individual investments are doing in shorter time frames.
Quoted from usandthem:Just venting... Why is it that every time I do a simple broad market check at CNBC, there is always story right underneath the averages about supposedly WHY the market is doing what it's doing today? I mean, how the fuck do they know the specifics? For example, today it's, "Dow Falls 200 Points on Fears the Fed Will Overtighten". Tomorrow it might be "Dow Rises 300 Points on Hopes that Fed Will Ease Up". Do they always have to give a half-baked explanation?
Half the time the headline is already outdated and the market has moved the opposite direction! Also all the articles about what’s going to happen in the year ahead. I’m not a financial wiz but I’ve learned nobody know wtf is going to happen.
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