It's very reminiscent of 2008-09. It's whatever, it's up big one day, down huge the next. It could drop another 30 percent for all I know, but it's going to rebound (or else we're all completely fucked), and I'm not set to retire for decades. Ride it out, that's all there is to do.
Exactly. Day-to-day changes are irrelevant. I'd argue quarter-to-quarter trends are the minimum baseline trend you should care about, and even then...
By diehard Go To PostI don't know if taking your gains before Friday afternoon hits again would be bad advice..
Bad advice would be....
Cash out
"Yeah, but when do I cash back in?"
I don't fucking know.
If you're far away from retirement, don't do a goddamn thing. Keep doing whatever it is you were doing. Shit's going to be alright.
If you're close to retirement and the market drop has substantially hit your portfolio, why were you as overexposed to the market as your were?
I feel for people 60+ that had too much exposure to stocks, I really do. But if you're 40? 30? Shiiiit, don't talk to me.
I was supposed to go to a concert in June and it just got cancelled so Ticketmaster is going to refund me.
The card that I charged it to is at a $100 balance, and I'm being refunded $180 so how does that work? Am I going to have a -$80 balance?
edited because I just checked and saw I have a $100 balance
The card that I charged it to is at a $100 balance, and I'm being refunded $180 so how does that work? Am I going to have a -$80 balance?
edited because I just checked and saw I have a $100 balance
By aka Espi Go To PostI was supposed to go to a concert in June and it just got cancelled so Ticketmaster is going to refund me.
The card that I charged it to is at a $0 balance, so how does that work? Is Capital One going to basically owe me $180?
Yes. You can find their negative balance policy probably somewhere on their website or in your statement, but usually what credit card companies will do is send you a check after a month (or these days they might directly credit your linked checking account).
I've been telling myself I want to spend at least 2 years in an apartment with no roommate before I buy a house, but with the housing market almost certainly crashing, homeownership is looking much more appealing.
Plus, I want to be able to learn from my dad on home maintenance while he's still around.
Plus, I want to be able to learn from my dad on home maintenance while he's still around.
This might be 4 separate posts..
Rate my investment strategy from terrible to great:
25% (max) dividend stocks
25% (max) silver futures contracts
20% (max) options trading
15% (max) weed stocks, etfs, and utilities stocks
10% (max) day trading stocks
5% crypto
This ignores the upwards of $600 into forex trading. Forex is an easier more volatile investment.
Rate my investment strategy from terrible to great:
25% (max) dividend stocks
25% (max) silver futures contracts
20% (max) options trading
15% (max) weed stocks, etfs, and utilities stocks
10% (max) day trading stocks
5% crypto
This ignores the upwards of $600 into forex trading. Forex is an easier more volatile investment.
I've funneled a good chunk of my portfolio into energy stocks until the 2nd wave hits. The rest in swinging biotechs. Made a killing today.
With that said, biotech is volatile af. Lost some money and got some back.
Not for the faint of heart.
With that said, biotech is volatile af. Lost some money and got some back.
Not for the faint of heart.
By data Go To PostI've been telling myself I want to spend at least 2 years in an apartment with no roommate before I buy a house, but with the housing market almost certainly crashing, homeownership is looking much more appealing.That's what I'm hearing too. A correction in 6-9months. Im hoping to perfectly time the eventual housing dip with generating 20% down on a house from my stock portfolio.
By Kabro Go To PostThat's what I'm hearing too. A correction in 6-9months. Im hoping to perfectly time the eventual housing dip with generating 20% down on a house from my stock portfolio.
The house across the street from me just sold, During a pandemic, for a lot more than what it should have. The dude who bought is gutting it. Both Zillow And Redfin value My house at around 5 - 10% higher than where I bought it at (1.5 years ago) and both have no clue it’s almost all redone.
Unlike the last property bubble, this one isn’t propped up by bad loans. Curious what a dip would look like.
Thankfully we always planned on this house being more of a 7-10 year spot. My last two I worked in and was out in 3 years each
By Fenderputty Go To PostThe house across the street from me just sold, During a pandemic, for a lot more than what it should have. The dude who bought is gutting it. Both Zillow And Redfin value My house at around 5 - 10% higher than where I bought it at (1.5 years ago) and both have no clue it’s almost all redone.who knows. but from the chatter i've been paying attention to from economists.
Unlike the last property bubble, this one isn’t propped up by bad loans. Curious what a dip would look like.
-double digits permanent job loss due to covid-19.
-companies will shift jobs remotely (even internationally) and move away from big cities.
- housing demand will increase in smaller markets and suburban areas while big markets will see a dip in demand.
-eventual market correction from inflation in the near future.
I’m always skeptical of inflation hawks. Double digit permanent UE would be bad though. Also still wonder about the Housing market in general and California more specifically.
Like a lot California’s high price has to do with the crash of 2008. People lost their homes and credit ratings and the rental market went Crazy. My mortgage is still less than what I would pay for rent on a like for like property since I put 20 down. So it feels like the rental market has to pop some before housing here really crashes. It’s not like there isn’t supply either. Curious how businesses react / if they actually move from cities. I mean we’re almost all suburb and prices can’t go up lol
More broadly, the last economic collapse happened because of the property bubble / loan bubble bursting. This would be the housing market / bubbles reacting to sustained job loss.
Like a lot California’s high price has to do with the crash of 2008. People lost their homes and credit ratings and the rental market went Crazy. My mortgage is still less than what I would pay for rent on a like for like property since I put 20 down. So it feels like the rental market has to pop some before housing here really crashes. It’s not like there isn’t supply either. Curious how businesses react / if they actually move from cities. I mean we’re almost all suburb and prices can’t go up lol
More broadly, the last economic collapse happened because of the property bubble / loan bubble bursting. This would be the housing market / bubbles reacting to sustained job loss.
Join me in betting against the usd! Currently throwing resources into forex hoping it hits big so I can pay off student loans.
Transocean is a large company (6,600 employees, $3B+ in revenue) that i have holdings in and is currently up 55% in one day.
that is insane
that is insane
Do you all have some literature / sites that I can read, about investing? Probably missed the boat, but it's still some shit that I'd like to read up on.
I can't really say i know of anything great to read for investing. I just started investing in companies related to my career that i thought were going to do well based on their products and that has worked for me.
By EldritchTrapStar Go To PostDo you all have some literature / sites that I can read, about investing? Probably missed the boat, but it's still some shit that I'd like to read up on.
lets go to Vegas and invest in me
trust me
By Kabro Go To PostI've funneled a good chunk of my portfolio into energy stocks until the 2nd wave hits. The rest in swinging biotechs. Made a killing today.That's my mistake, but doing it for the long term though. Unfortunately my European ones are all pending market approval in the market they need it the most, the freedom country. IF they get that they'll get big.
With that said, biotech is volatile af. Lost some money and got some back.
Not for the faint of heart.
That's what I'm hearing too. A correction in 6-9months. Im hoping to perfectly time the eventual housing dip with generating 20% down on a house from my stock portfolio.
Otherwise, paying off my mortgage and spreading some nice pension schemes and I hope I'll get to be quite free with time and independence (for me money equals free time not consuming) in the next five years or so.
https://www.reddit.com/r/financialindependence/about
I would start here, Eldritch.
I'm on the road to ChubbyFIRE and I'm not doing too bad now.
I would start here, Eldritch.
I'm on the road to ChubbyFIRE and I'm not doing too bad now.
By diehard Go To PostLet's all take a moment to realize how right Pac-12 was to not sell
Glad you see it
By Pac-12 Go To PostGlad you see itI sold all my ETFs and that was a mistake. I did make up most of it by putting some money in individual stocks but i still feel kinda dumb.
Like when you take a 60% gain on a stock and feel oh so great then the next day it goes up 136%
Yeah, S&P is off about 5% from its 52 week high, but the low point was 35% off. People who rode it out are fine. People who panic sold are in who knows what kind of shape. When did they sell? Did they get back in? Exactly how much of the loss did they lock in and how much of the rebound did they miss?
Surely, some maybe sold at the right time and bought back in at the low point, but that's not going to be the norm.
Surely, some maybe sold at the right time and bought back in at the low point, but that's not going to be the norm.
No. I still don't trust the economy to be back to "normal". We are wild overdue for a recession as well. To Pac12's original point, if you are looking six months ahead or behind you are doing it wrong. When he says don't sell he means it with an eye towards retirement.
By reilo Go To PostNo. I still don't trust the economy to be back to "normal". We are wild overdue for a recession as well. To Pac12's original point, if you are looking six months ahead or behind you are doing it wrong. When he says don't sell he means it with an eye towards retirement.
wild overdue? we're officially in one:
https://finance.yahoo.com/news/us-economy-officially-in-recession-nber-165226139.html
By reilo Go To PostNo. I still don't trust the economy to be back to "normal". We are wild overdue for a recession as well. To Pac12's original point, if you are looking six months ahead or behind you are doing it wrong. When he says don't sell he means it with an eye towards retirement.I know everyone says that and it's not that i don't believe it, but all my investment regrets have come from being too conservative on short-term investing.
We haven't even felt the impact of it. I think in modern times it's smart to treat how the stock market does separately from the economy. Or maybe the former is just a wild lagging indicator, who knows.
Either way, recession or not, it's a moot point: look 20-30 years out.
Either way, recession or not, it's a moot point: look 20-30 years out.
Money is made on volatility.ive hedged my bet on energy and a couple emerging entertainment stocks. But man what a blood bath today!
I don't have time to day trade. But I do I occasionally do monthly swings and on falling knives stocks if I get an alert in time.
Checked 401k for first time since peeking at it when Rona was taking off. I'm at 20% rn, YTD. That's....quite a turn from earlier in the year.
Also can someone explain to me roth iras? i want to put some additional money somewhere, but not sure if pre-tax or after-tax is the way to go?
Also can someone explain to me roth iras? i want to put some additional money somewhere, but not sure if pre-tax or after-tax is the way to go?
By Smokey Go To PostChecked 401k for first time since peeking at it when Rona was taking off. I'm at 20% rn, YTD. That's….quite a turn from earlier in the year.
Also can someone explain to me roth iras? i want to put some additional money somewhere, but not sure if pre-tax or after-tax is the way to go?
A simple litmus test is that if you an afford to meet the max contribution to the IRA, might as well do it as Roth, because it will then grow tax-free and you can withdraw your contributions, if necessary, at any time without penalty (you could not withdraw your earnings until you reach age 59.5). I would basically encourage anyone who is eligible to do a Roth IRA, to be honest.
Speaking of, Roth eligibility does have an income upper limit, so check on that. https://www.schwab.com/ira/roth-ira/contribution-limits
By batong_doicare Go To PostThat's my mistake, but doing it for the long term though. Unfortunately my European ones are all pending market approval in the market they need it the most, the freedom country. IF they get that they'll get big.Praise the lord of freedom country U S A. No market approvals as of yet but just secured funding from big investment groups in the eagle land which means they can take their products all the way through phase I|| studies and maybe even get listed on the US stock market.
Otherwise, paying off my mortgage and spreading some nice pension schemes and I hope I'll get to be quite free with time and independence (for me money equals free time not consuming) in the next five years or so.
Five year plan looking good atm, till it is all is down the drain of course 😄
No better tell that the market is disconnected from the real economy than seeing it basically rise YTD during +10% unemployment.
Ffs, my savings APY went from 2.3% to 1.8% to 1.0% to now 0.8% all in less than a year. Catastrophic, no point in even keeping it in a Savings account.
My ISA just finally regained all the profit lost due to COVID. I'm imagining it drops at some point again in the next few months once the markets eat shit now that spending goes down without government assistance
between like 35-40% off the top of my head. thats probably too much but if it wasn't for the fact that i had to buy a whole life's worth of furniture and other house this shit i'd be up on the year
torn between if I want to stay where I live now or find something a little cheaper next year
didn't expect COVID to nuke all the amenities and luxuries that clinched this place for me
torn between if I want to stay where I live now or find something a little cheaper next year
didn't expect COVID to nuke all the amenities and luxuries that clinched this place for me
By sy Go To PostFor those tthat do rent, is your rent <= 30% of your monthyl income?Yep.
The sacrifice came on the commute though.
As far as the rent vs own conversation goes, it's still a lot of money to "throw away" but if I'm able to get to a point where rent is less than 30% of my monthly income, it would be hard to care about the upside of home ownership vs the hassle.
30% of my net income.
Thats not counting my wife's monthly income. She does very well but we base stuff off of my check since its consistent and you never know with her work.
Thats not counting my wife's monthly income. She does very well but we base stuff off of my check since its consistent and you never know with her work.
I'm seeing the value of home ownership but I also value being flexible enough to work wherever I feel like.
If I fall in love with an area, I'll buy a home. But living in places you don't like doesn't suddenly become better because you own your lot.
If I fall in love with an area, I'll buy a home. But living in places you don't like doesn't suddenly become better because you own your lot.
I felt that way up until a few years ago. Now ready to stop living next to ppl . Having a kid changed all of that.
By sy Go To PostFor those tthat do rent, is your rent <= 30% of your monthyl income?~22% or so but it helps splitting rent with an SO. Although, I think I peaked at almost exactly 30-33% with my last place with a roommate.
My percentages are based off of net income aka after tax.