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#personalfinance #investments Me and spouse are both software engineers with around 5 yoe and a combined W2 ~$700k this year. But our net worth excluding house equity dropped from $1m last Dec to $800k right now due to stock market. Our house equity dropped to ~$300k according to credit karma. Feeling very sad. A whole year’s grind led to this result. Should we sell all stocks including ETF and company RSUs given that the predication of the stock market is still bearish next year?
You buy low, sell high. This is the opposite. You should buy and hold for long term. That’s it. They are ups and downs of the market, but it’s never a loss if you don’t sell it for a loss. (This advice applies to ETFs only not individual stock trading.)
What else would you expect in a down market? I, and many others I know lost a million+.
We don’t even have a million+ lol
So be glad you are seeing the market adjustment now, which is early on in the game. Your losses are only 1/3 of your TC which is nbd
That’s capitalism for you lol
Yeah man cash is king should just rest vest and cash everything
Where do you keep your cash?
Fidelity overs good CDS 4-5%
Moral: don't just worry about increasing TC. Learn to spend it as well. Had you spent a fraction of the amount you lost, you could have made a road trip through Norway.
Response from chatGPT?
Lol
I think your going to be okay
Take a step back and look at the big picture. You are 5 yoe but already hit 1m net worth while making a combined 650k per year. That's an enviable position for almost anyone in the world. Stay invested unless you're strapped for cash, which I doubt you are given the TC.
Play long term games. I would not uninvest now, too late in bear mkt innings. Think whether index will be higher or lower on the 10-20 year horizon or whenever you want to retire and you’ll have your answers
Move from high risk to low risk stocks