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Joined: Dec 2013
Posts: 12,966
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 12,966 |
I realized after 2 weeks it was a scam. Jumped in beginning of April 2020.
This is a completely real crisis . we're phugged, Depends how bad and how long Correct, I recognized the 2020 opportunity. This is different, way different.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: Jan 2010
Posts: 32,130
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jan 2010
Posts: 32,130 |
Totally different scenario, but during the Covid Crash in May/June 2020 my IRA took an almost identical hit.
I didn’t capitulate then and rode it out (very happy that I did). Hoping this outcome is similar. the crash now is completely different and worse and longer lasting. The crash of March 2020 was a lifetime buying opportunity especially in energy stocks. I made a killing. I waiting at least 6 months start putting n market again unless drastic changers. maybe a few swing trading days Are you completely out, including oil and gas?
If you put Taco Bell sauce in your ramen noodles it tastes just like poverty
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Joined: Apr 2010
Posts: 1,662
Campfire Regular
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Campfire Regular
Joined: Apr 2010
Posts: 1,662 |
What you can do is rebalance the portfolio into something with less risk and more "conservation of principle" but the time to do that was December or January. About the only thing one can do now is to ride this out and when stocks have regained their value then move into a less exposed position.
The market goes up and the market goes down, but in the long run the market goes up. Therefore, it's not timing the market that counts, it's time in the market. That's true but that doesn't help us older guys unless we're strictly concerned with enriching the Trust for the kids after we're gone or something ... and I'm not. Grandkids maybe. I didn't plan on leaving much, I planned on the wifey and I having a good time 'till the end and then leaving enough for her to be taken care of. Had it all planned out. Brandon and his people are intentionally fuqing that up for millions of us. The market doesn't bounce back overnight. It'll take two decades to recover after this $#!+ show is over ... if ever.
What you think about, you do ... what you do, you become.
In a nation where anything goes ... eventually, everything will. We're almost there.
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Joined: Oct 2021
Posts: 10,681
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2021
Posts: 10,681 |
Often quoted over the years in any up or down period:
“This time is different “.
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Joined: Mar 2010
Posts: 24,089
Campfire Ranger
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Campfire Ranger
Joined: Mar 2010
Posts: 24,089 |
Totally different scenario, but during the Covid Crash in May/June 2020 my IRA took an almost identical hit.
I didn’t capitulate then and rode it out (very happy that I did). Hoping this outcome is similar. the crash now is completely different and worse and longer lasting. The crash of March 2020 was a lifetime buying opportunity especially in energy stocks. I made a killing. I waiting at least 6 months start putting n market again unless drastic changers. maybe a few swing trading days Are you completely out, including oil and gas? Im still in on 2020 buy in prices on trading accounts . I wouldn't buy in now in anything unless occasional swing trade. My 401 k account is back in cash since last December. waiting for more correction to jump back in Silver is looking tempting. that would be maybe 15 per cent of portfolio if decide
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Joined: Dec 2003
Posts: 86,134
Campfire Oracle
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Campfire Oracle
Joined: Dec 2003
Posts: 86,134 |
Hold on, the stock market will bounce back! It may take a year or two. It always does. Never use the news cycle as an investment guide.
If you take the time it takes, it takes less time.
--Pat Parelli
American by birth; Alaskan by choice.
--ironbender
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Joined: Oct 2021
Posts: 10,681
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2021
Posts: 10,681 |
Totally different scenario, but during the Covid Crash in May/June 2020 my IRA took an almost identical hit.
I didn’t capitulate then and rode it out (very happy that I did). Hoping this outcome is similar. the crash now is completely different and worse and longer lasting. The crash of March 2020 was a lifetime buying opportunity especially in energy stocks. I made a killing. I waiting at least 6 months start putting n market again unless drastic changers. maybe a few swing trading days Are you completely out, including oil and gas? Im still in on 2020 buy in prices on trading accounts . I wouldn't buy in now in anything unless occasional swing trade. My 401 k account is back in cash since last December. waiting for more correction to jump back in Silver is looking tempting. that would be maybe 15 per cent of portfolio if decide Silver. ETF or direct holding of the metal?
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Joined: Dec 2004
Posts: 14,482
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2004
Posts: 14,482 |
Hold on, the stock market will bounce back! It may take a year or two. or 4 or 5 How long did it take for the stock market to recover from the crash of 1929? Maybe a young buck could ride that out, but I sure wouldn't want to leave my money in stocks if we have a catastrophe like 29. I wouldn't live long enough to see the recovery. I'm not predicting such a thing, but it all looks shaky as hell these days.
Don't be the darkness.
America will perish while those who should be standing guard are satisfying their lusts.
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Joined: Feb 2016
Posts: 785
Campfire Regular
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Campfire Regular
Joined: Feb 2016
Posts: 785 |
I have this mulling in my mind the last few weeks....
I have the money in my IRA in oil futures EFT's and dividend stocks that I got at a bargain a while back... and paper gold and silver. So I feel good... when gold and silver finally take off... I will wait and when the price is good I will flip them into some beet down stocks that will pay a good dividend, That is the strategy right now..
anyways...
My 401K I have fewer options... half in cash and half in international stocks... I will ride out the storm with that. My options for investing are very limited in my 401K. My other thought was.... with my 401K... If for instance, if we have a big housing crash... and I see houses better than the one I live in selling for 50-60K like they did back in 2009... I will cash out my 401k and pay the tax and the penalty... and buy a few houses to rent out if I can get them close by. I think owning a hard asset like a house paying $1000-$1200/month would be better in the long run... say the 10-15 year time line, rather than leave it in a stagnant stock market.
Well... we have come to the point.... where... the parasites are killing the host. It's only a matter of time now.
They only win.... when they cheat.
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Joined: Mar 2010
Posts: 24,089
Campfire Ranger
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Campfire Ranger
Joined: Mar 2010
Posts: 24,089 |
I'm considering that too for my 401 k funds I have this mulling in my mind the last few weeks....
I have the money in my IRA in oil futures EFT's and dividend stocks that I got at a bargain a while back... and paper gold and silver. So I feel good... when gold and silver finally take off... I will wait and when the price is good I will flip them into some beet down stocks that will pay a good dividend, That is the strategy right now..
anyways...
My 401K I have fewer options... half in cash and half in international stocks... I will ride out the storm with that. My options for investing are very limited in my 401K. My other thought was.... with my 401K... If for instance, if we have a big housing crash... and I see houses better than the one I live in selling for 50-60K like they did back in 2009... I will cash out my 401k and pay the tax and the penalty... and buy a few houses to rent out if I can get them close by. I think owning a hard asset like a house paying $1000-$1200/month would be better in the long run... say the 10-15 year time line, rather than leave it in a stagnant stock market.
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Joined: Sep 2007
Posts: 1,024
Campfire Regular
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Campfire Regular
Joined: Sep 2007
Posts: 1,024 |
Don't forget the taxes you will have to pay for cashing a IRA of 401K.
Like losing to FJB twice!
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Joined: Mar 2010
Posts: 24,089
Campfire Ranger
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Campfire Ranger
Joined: Mar 2010
Posts: 24,089 |
Don't forget the taxes you will have to pay for cashing a IRA of 401K.
Like losing to FJB twice! oh I know
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Joined: May 2010
Posts: 7,336
Campfire Tracker
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Campfire Tracker
Joined: May 2010
Posts: 7,336 |
Gold is down $350.00 an oz. from its’ high a month or so ago. Silver is down $4.25 an oz. from a couple weeks ago.
Precious metals are a crapshoot.
"When the going gets weird, the weird turn pro."
Hunter S. Thompson
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Joined: Dec 2020
Posts: 193
Campfire Member
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Campfire Member
Joined: Dec 2020
Posts: 193 |
Good time to get in. I wouldn't go all in. Dollar cost in.
It doesn't matter who gets more votes, It matters who counts the votes.
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Joined: Feb 2008
Posts: 8,482
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2008
Posts: 8,482 |
Totally different scenario, but during the Covid Crash in May/June 2020 my IRA took an almost identical hit.
I didn’t capitulate then and rode it out (very happy that I did). Hoping this outcome is similar. You Had your Chance .. We’re going to have at least 3 Recessions in a Roll.. Demand destruction is the Only way to Stop Inflation.. The Stampede is Near..
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Joined: Sep 2014
Posts: 21,743
Campfire Ranger
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Campfire Ranger
Joined: Sep 2014
Posts: 21,743 |
Buy low sell high.
And everyone wants in when it's high.
And out when it's dropping.
When the gutless sell,
The bold profit.
Not trying to offend anyone.
Just being blunt
Last edited by Dillonbuck; 05/21/22.
Parents who say they have good kids..Usually don't!
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Joined: Dec 2020
Posts: 546
Campfire Regular
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Campfire Regular
Joined: Dec 2020
Posts: 546 |
I moved all ten of the mutual funds in my 401K into a money market the week I read about the virus out in those Seattle nursing homes. Everybody at work thought I was a loon. I actually went back to the same ten funds the exact day the market bottomed at like 18,500 I rode it up to 32K and got worried and put it all back in to a money market. I missed the last 4K rise but such is life. Back earlier this year I put half the money market money in about five funds for about a week or so ( I forget maybe it was 3-4 weeks) anyway I got back out before it started this year down and I'm up about 4 percent YTD and on the sidelines. I can't for the life of me decide what to do now. On one hand I want to buy in Monday with half my cash and wait for the other half ,but on the other hand we could go way down if covid does it's new WHO death variant late summer just in time for the Fall voting or something goes nuclear in eastern Europe. It's hard to know how to play it when you honestly believe those in charge in DC would do anything stay in power and continue their evil and could care less about middle America.
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Joined: Oct 2021
Posts: 10,681
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2021
Posts: 10,681 |
Buy low sell high.
And everyone wants in when it's high.
And out when it's dropping.
When the gutless sell,
The bold profit.
Not trying to offend anyone.
Just being blunt Be fearful when all are greedy. Be greedy when all are fearful. Warren Buffett’s mantra.
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Joined: Aug 2017
Posts: 9,027
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2017
Posts: 9,027 |
Your IRA in pre or post tax (roth) funds?
I see people cash out their safe harbor matched IRA all the time and get shelled on taxes. It can work, but make sure you are thinking through the hemorrhage points.
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Joined: Mar 2006
Posts: 573
Campfire Regular
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Campfire Regular
Joined: Mar 2006
Posts: 573 |
There's money to be made for the really bold folks, but I am in cash equivalents in my IRA and 401K accounts until I see a broad based positive trend. The volatility today makes my stomach turn
Last edited by Smokey262; 05/22/22.
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