debodun
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- Location
- way upstate in New York, USA
Lost $5600 in value from January. Anyone have any insight as to the reason?
I'd say you're not spending enough, Deb.Lost $5600 in value from January. Anyone have any insight as to the reason?
All of my stocks were also down even Amazon. Two of my three small cap value funds were up. No big deal.Lost $5600 in value from January. Anyone have any insight as to the reason?
Iāve tried to remember but my memory is so faulty now, oh, wait, I wasnāt alive in the Great Depression which must be why I donāt remember it . However I do remember mom saying how her dad died, and they lost the family farm, and, oh, off, thread sorry. I have no investments. We lost 150,000 when Unisys tanked a couple decades ago. Never bought stocks again.I don't panic. Panicky investors make thing worse by withdrawing their funds - remember what happened in the Great Depression?
I was going to use the laugh emoji when I started reading your reply but that loss of $150,000 took it to a Wow! In fact, also a !Iāve tried to remember but my memory is so faulty now, oh, wait, I wasnāt alive in the Great Depression which must be why I donāt remember it . However I do remember mom saying how her dad died, and they lost the family farm, and, oh, off, thread sorry. I have no investments. We lost 150,000 when Unisys tanked a couple decades ago. Never bought stocks again.
I suppose that means its a good time to buy, unless it will get worse.Today was brutal, .... again.
My husband worked for Unisys over 20 years and put the money in the stocks even though I asked him not to as he barely made enough for us to get by on. But someone at the company assured him it was a good ideal āfor our retirementā. The company moved us to Utah.I suppose that means its a good time to buy, unless it will get worse.
I'm in my last year of working (I hope), so now I'm getting interested in all this. Once I retire and need to sell some each month to live on, I am not sure what the strategy should be. I wish I had more cash, I put most of my emergency fund into the market when it crashed in the spring (and through the summer and fall because my emergency fund was in a CD ladder).
Now I think that once I retire I'll need to have a cushion of cash so I don't have to sell in a down month, but I don't see any way to have cash that would last an entire down year. I wonder if a reverse mortgage would be good to do in an extensive down market. I feel stressed by the uncertainty of it all.
I don't know anything about your situation but I've always found that it is easier to reduce my expenses than it is to increase my income.I suppose that means its a good time to buy, unless it will get worse.
I'm in my last year of working (I hope), so now I'm getting interested in all this. Once I retire and need to sell some each month to live on, I am not sure what the strategy should be. I wish I had more cash, I put most of my emergency fund into the market when it crashed in the spring (and through the summer and fall because my emergency fund was in a CD ladder).
Now I think that once I retire I'll need to have a cushion of cash so I don't have to sell in a down month, but I don't see any way to have cash that would last an entire down year. I wonder if a reverse mortgage would be good to do in an extensive down market. I feel stressed by the uncertainty of it all.
What happened to you is simply brutal.My husband worked for Unisys over 20 years and put the money in the stocks even though I asked him not to as he barely made enough for us to get by on. But someone at the company assured him it was a good ideal āfor our retirementā. The company moved us to Utah.
We later learned the company was known for moving people to Utah and then laying them off. But before he could be laid off, the company tanked. So all that money we did without for over 20 years was gone, plus his job. He worked in their warehouse.
When he applied for a new job, in a warehouse, they x-rayed his back, and said he could never work in a warehouse again. He got a job as a part time school aide. So yeah, we were out of the stock market, out of a decent job, have no retirement nest egg, and starting over in life with two kids in a new place.
The great American dream. So, he stills works. Itās never a good time to buy stocks, IMO.
We got 1500.00What happened to you is simply brutal.
On a much smaller scale, we had a similar experience with Lucent (Bell Labs). Long before we were married, my wife worked at AT&T and bought company stock on a regular basis even with her small salary. After we married, AT&T was split up and she received the greater bulk of her shares in Southwestern Bell, with one share in all the other baby bells. She also received about $6500 in shares for Bell Labs (Later Lucent). She sold all of the single shares and held on to the Southwestern Bell and Lucent.
Those rascal executives at Lucent were praising their company's prospects but secretly selling their own shares like crazy. Nobody outside the company and most of the lower level employees did not know the truth. When it finally tanked, and it went down quickly, her $6500 in shares was worth about $613 as I recall. Nobody went to jail, but they should have. We still have the Southwestern Bell (Now AT&T again) and it does spit out good dividends, but we don't really trust it and may sell it at some point.
Overall we have not had great luck with individual stocks. AT&T is the only individual stock that we still own. The rest is in big balanced funds. We don't want to be rich, we just don't want to be poor so we don't gamble.
Though your views on the market are understandable under the circumstances, the problem wasn't with the stock market, it was with your husband putting all his eggs in one basket, especially since it was in his company's private stock. This is why financial advisors cry diversify. Also, it's never advisable for people who don't have a lot of money to spare to invest in stocks. Mutual funds (and now ETFs) are a better choice. I'm so sorry that happened to your family...a bitter pill to swallow for sure!My husband worked for Unisys over 20 years and put the money in the stocks even though I asked him not to as he barely made enough for us to get by on. But someone at the company assured him it was a good ideal āfor our retirementā. The company moved us to Utah.
We later learned the company was known for moving people to Utah and then laying them off. But before he could be laid off, the company tanked. So all that money we did without for over 20 years was gone, plus his job. He worked in their warehouse.
When he applied for a new job, in a warehouse, they x-rayed his back, and said he could never work in a warehouse again. He got a job as a part time school aide. So yeah, we were out of the stock market, out of a decent job, have no retirement nest egg, and starting over in life with two kids in a new place.
The great American dream. So, he stills works. Itās never a good time to buy stocks, IMO.
I learned the hard way not to put my emergency fund into the market. My investments are doing well but I sold shares of a fund (at a profit) to buy our timeshare which we got for 37% of the asking price plus did a no interest deal. I wish I had kept the shares I sold because now the share price is more than three times what it was when I sold. I still have shares of that fund but wish I had held on to all. Down markets are good times to buy more shares but it can be scary not knowing if what you purchase will bounce back. When the market plunged last year, I added shares to two funds and it payed off. One is up by $12 a share, the other by $3/share.I suppose that means its a good time to buy, unless it will get worse.
I'm in my last year of working (I hope), so now I'm getting interested in all this. Once I retire and need to sell some each month to live on, I am not sure what the strategy should be. I wish I had more cash, I put most of my emergency fund into the market when it crashed in the spring (and through the summer and fall because my emergency fund was in a CD ladder).
Now I think that once I retire I'll need to have a cushion of cash so I don't have to sell in a down month, but I don't see any way to have cash that would last an entire down year. I wonder if a reverse mortgage would be good to do in an extensive down market. I feel stressed by the uncertainty of it all.
Oh, I agree. But my husband has never listened to me, and no one can tell him anything. It put us so far behind we were never able to catch up, which is why we are where we are now, and one of the reasons why he still has to work. But, it is what it is.Though your views on the market are understandable under the circumstances, the problem wasn't with the stock market, it was with your husband putting all his eggs in one basket, especially since it was in his company's private stock. This is why financial advisors cry diversify. Also, it's never advisable for people who don't have a lot of money to spare to invest in stocks. Mutual funds (and now ETFs) are a better choice. I'm so sorry that happened to your family...a bitter pill to swallow for sure!
@Pecos I remember that Lucent fiasco! You're right, they deserved jail time.