Any advice for those of us that aren’t financially saavy? Trade tensions seem to continue to hurt the market day after day. I’m maxing 401K with 50% match. Stocks just tanked, wish i would have sold. Have some debt building up, costs of caring for my mother who is disabled, that could have been paid off and not collected interest on credit card.
Pay off the credit card debt. Then continue to invest. When it tanks more... buyyyyyy
Buy bitcoin
What's your retirement timeline?
I expect that it will not be early, and I’m ok with that. I am 34 now but am basically the only one in my family to have a good education and thus employment. A lot of financial pressure tends to fall on me, which I control within reason. I don’t expect to want to retire, but if shit hits the fan in my older age, I’d like to be nearly financially independent by 60.
Then dont sweat that last 5 days of the market. I'd definitely talk to a professional if you're thinking about pulling from your 401k to pay credit card bills.
Panic and sell everything NOW!
From a decision making standpoint (A invest, B don’t invest) if your 401k contributions is getting an instant 50% ROI it doesn’t even matter what the market does... you aren’t going to find guaranteed 50 percent returns on anything. In regards to other equity investments then yes it’s fair to ask about what to do.
You sound like a momentum guy: stocks went up, you buy, stocks are down you sell. The danger is that this way you may find yourself always a step late, buying high and selling low. Unless you somehow are able to anticipate the moves it can be expensive to react to short term changes in market.
Maybe look into a LOC
Do nothing or buy more. Next
LeetCode and carry on
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Advice for the financially savvy and non financially savvy is to not look at the market and just hold for the long term. “I wish I would have sold” is exactly the way you should not be thinking. If you could beat the market you wouldn’t be working at Microsoft.