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I update my asset/obligations (ie. Networth) spreadsheet frequently, and it's been a few weeks since i've been able to gather the courage to do so. Finally did it today, and boom, down about $50k in total, since 12/31/2015. It's very tough to watch, so i'm 'watching' as little as possible, but it's hard to avoid completely.
I am pouring in as much cash as i can spare into the S&P though....right or wrong. The year end bonus all went in there, along with another 5 or 6k i had in brokerage accounts. All seem to be "GONE" given that even with those contributions (about 15k in total), my balance is much less than what it was before. I've also upped my 401k and have contributed 5500 so far this year, but my 401k is also significantly lower than year's end, by about 25k.
But I think to panic would be a mistake....at this point in time. I wish i had more cash to jump in with, but sadly i don't.
So, to those who might be considering a sell-off, I suggest you hold on a bit longer.
I update my asset/obligations (ie. Networth) spreadsheet frequently, and it's been a few weeks since i've been able to gather the courage to do so. Finally did it today, and boom, down about $50k in total, since 12/31/2015. It's very tough to watch, so i'm 'watching' as little as possible, but it's hard to avoid completely.
I am pouring in as much cash as i can spare into the S&P though....right or wrong. The year end bonus all went in there, along with another 5 or 6k i had in brokerage accounts. All seem to be "GONE" given that even with those contributions (about 15k in total), my balance is much less than what it was before. I've also upped my 401k and have contributed 5500 so far this year, but my 401k is also significantly lower than year's end, by about 25k.
But I think to panic would be a mistake....at this point in time. I wish i had more cash to jump in with, but sadly i don't.
So, to those who might be considering a sell-off, I suggest you hold on a bit longer.
Anyone disagree?
I really feel sorry for you, but think about this, this experience will make you stronger as I hope you will learn from your mistakes.
I'm not panicking. I sold all but a few long term things and am sitting on cash waiting. I don't have $50K I can just say "oh well" to and kiss goodbye.
Panic is never good ,but even if you paid attention to my rants over the last year it's unreasonable to expect people to drain 401K's or IRA's due to
inevitable penalties and being locked in to company withdraws. If it matters we all suffer and all are in the same boat. It's vertially impossible not
to affected. This is a predicted worldwide collapse of most key sectors ,but not nearly the 1-2 trillion loss (so far) we projected. To be honest
leading prognosticators that few fallow (primarily end-times christian analysts ,who are banished as unreliable) actually have vast backrounds in business, finance ,government ,yet don' t seek the last laugh as no one wants struggling investors tosuffer loses! Failure to LISTEN to all sources
even those religious types can leave the market vunerable to collapse and change the way we live if we are headed for depression . We have recovered before but nothing like this has EVER occurred and even our eclectic and vast network of producing enities can' t seem to offset the
worldfinancial tanking trend. Bad bear!!
Leveraged buyers are being wiped out forcing massive selling which cascades into all markets. It's not about the asset itself, it is about leveraged speculators being wiped out everywhere, especially in China and the U.S. where gambling on assets has become the new recreational past-time for way too many people. Powerball isn't enough fun for these people and Vegas is too remote.
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