401k vs Corona virus panic

[-X-]

Hopefully you will get to keep the security deposit which most decent brokers will write into your escrow agreement.

Ayup. I got $2500 when someone backed out on mine recently. A day after their due diligence was up. Sold it a month later, and gotta be honest. Was kinda hoping they would back out too.

 

[LesBaker]

PLUS tonight my buddy has to pay up his Super Bowl bet he made with me - porterhouse and 3 pints at Lucky’s Steakhouse — he was the guy who painted my house and he was all for the freakin’ 49ers and talking all sorta of crap so I couldn’t let that stand and put it on the line for Ram fans everywhere and backed KC. So all is good!

Post some pics of that steak!

 

[RhodyRams]

well I looked at my balance this morning and am down about 6 months salary

 

[…..]

I’m in a Janus small cap growth fund that did 22% last year in this economy. But down 11.6% this year so far. Large Caps probably wouldn’t help so I’m considering transferring 100% to some snail until the panic blows by.

 

[LesBaker]

well I looked at my balance this morning and am down about 6 months salary

I’m in a Janus small cap growth fund that did 22% last year in this economy. But down 11.6% this year so far. Large Caps probably wouldn’t help so I’m considering transferring 100% to some snail until the panic blows by.

A recession is coming so react accordingly.

 

[1maGoh]

I’m in a Janus small cap growth fund that did 22% last year in this economy. But down 11.6% this year so far. Large Caps probably wouldn’t help so I’m considering transferring 100% to some snail until the panic blows by.

I am not an investment expert by any means, but that seems like a plan to protect your current losses and buy stocks at higher prices later. Wouldn't you want to invest lots of money right now while the market is down to maximize those dollars once it recovers from the crisis?

 

[…..]

I am not an investment expert by any means, but that seems like a plan to protect your current losses and buy stocks at higher prices later. Wouldn't you want to invest lots of money right now while the market is down to maximize those dollars once it recovers from the crisis?

To an extent thats very true. Im seeing lots of bargains right now. There are others thinking the bottom is not in and it’s best to wait. Either way, the 401k is a fund that follows market trend ms by being extremely diversified and not focused on individual stocks.

What you are saying is absolutely correct in a brokerage account. Not so much in a fund.

That day the market rebounded 1200 points was a great day for traders, but my fund was red.

 

[Dieter the Brock]

Post some pics of that steak!

It was prime rib - turned out it was not Lucky’s or I would have had pix - dude thought we could just walk in - WRONG

So we hit up Tee Off, a local hangout and it was disappointing. Still feeling the ill effects

 

[LesBaker]

It was prime rib - turned out it was not Lucky’s or I would have had pix - dude thought we could just walk in - WRONG

So we hit up Tee Off, a local hangout and it was disappointing. Still feeling the ill effects

that sucks I think you should get a mulligan

 

[RhodyRams]

rough day in the market today.

But I am putting my pennies together to sink them all into the market when this is all over.

Im thinking we may see lows in the Dow around 17-18k by the end of next week if the virus isnt slowed down

 

[LesBaker]

Im thinking we may see lows in the Dow around 17-18k by the end of next week if the virus isnt slowed down

It'll likely be accelerating for a few weeks so you may want to wait.

This may take a some time to tamp down because of the delayed response which stemmed in large part from China (as usual lying about viruses).

If that's the case markets will continue to drop at the same or higher rates for weeks.

 

[RhodyRams]

It'll likely be accelerating for a few weeks so you may want to wait.

This may take a some time to tamp down because of the delayed response which stemmed in large part from China (as usual lying about viruses).

If that's the case markets will continue to drop at the same or higher rates for weeks.

Oh I plan on waiting as long as it takes. Will finish the current job Iam on in about a month and pocket around 10k..will put almost all right into the market

 

[Loyal]

The only thing that concerns me is that I have trouble breathing at times and I am in the target range as far as age and immune issues. We are not rich and cannot afford to store food right now. If they get quarantine happy with my state, I don't know what we will do

 

[Akrasian]

The only thing that concerns me is that I have trouble breathing at times and I am in the target range as far as age and immune issues. We are not rich and cannot afford to store food right now. If they get quarantine happy with my state, I don't know what we will do

It sucks if money's tight. Whatever money you have, shop the sales and stockpile a little, whatever you can afford in healthy food you will actually eat. Buy fruit on sale, freeze it, and make smoothies with it. Whatever meat you will eat, buy on sale and again freeze. If not several weeks worth of food, buy stuff on sale so you can last a couple of extra days before help arrives

 

[XXXIVwin]

I’m planning on pulling out my entire 401k in the next day or two, putting it into a guaranteed 3% safe haven for a couple months.

I’ve seen reports lately that the Coronavirus tends to follow a “bell curve” shape... it gets really bad before it gets better. But communities DO get better....

Anyway, I’ll wait until shit gets really really bad before putting my money back in the market. IMHO,we aren’t anywhere near bottom yet. By this summer, when the warm weather will (probably) slow the spread, I might consider getting back in.

Wish I’d had the guts to pull out everything a week ago, especially given the record breaking carnage today. But I still strongly believe we aren’t anywhere near bottom. Once there are widespread school closings, the Markets will get hit even harder. Hoping for a slight rebound on Tuesday and then I’m gonna GTFO.

 

[RhodyRams]

well dow futures are up 4% overnight, so theres that

 

[kurtfaulk]

.

stock goes down, stock goes back up.

we've seen it so many times before. one day it's the end of the world, next day things are looking up.

the sharks in the stock market live for events like this.

.

 

[XXXIVwin]

Just my opinion, but....

I just can’t see how anyone can possibly think the Market is going to “rebound” any time soon.

I took out ALL my equities two days ago, on Tuesday March 10, and I’m sure as hell glad I did. Only wish I’d had the foresight to do it a week ago.

IMHO, leaving money in the Market right now is like setting money on fire.

Please Ramily, if you have the ability to get some investments out of the Market within the next 48 hours, I hope you strongly consider it.

Yes, we will probably be like China, and in a couple months— as the weather gets warmer and people develop immunity— the virus will lose its steam. But over the coming weeks, the financial clusterfuck will be like nothing we’ve ever seen in our lifetimes. No NBA, major restrictions on travel, factory shutdowns, school closings, no large gatherings, on and on and on— sorry to say but this is going to have a HUGE negative impact on the global economy.

I have “timed the market” successfully twice before (once during the debt ceiling debate, and once during the China housing bubble in summer 2015). But this one seems so damn obvious... there is just no freaking way we are anywhere near bottom yet, the mass panic selling has barely just begun.

Anyway, obviously this is just my opinion and no one can see the future with absolute clarity. But if you think as I do that “things are gonna get a lot worse before they get better”, please consider doing what I did and getting your money temporarily OUT of the stock market if you can.

 

[Force16X]

the rich will get richer off of this panic sell off. and i am not rich.

 

[Dieter the Brock]

We’ll see how my brokers open goes today on the Real Estate front - I have a showing too set up for today. So close to selling before that freak pulled out of the deal, house is priced great, and shows extremely well. Interest rates are super low. We shall see!!! Waiting with joyful hope here