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I am doing the same. Mainly because I get an employer match. However I have been at 50% bond fund for a long time. This account has taken some hits, but not near as badly as someone in 100% stocks.
I moved to cash at DJIA 25,000 and waited and waited and waited.
Planning to re-align around 20-21K.
Which might be today, the way things are going. Haha. J/K, the circuit breakers mean I'll have to wait until at least Wednesday.
Wow. I said this tonge-in-cheek, but I guess I was just a day off. :wow:
That said, I'm going to sit on my hands. I really didn't want to move until either COVID-19 was mitigated into a slower burn and the consumer debt / housing bubble starts to deflate and the market begins guessing how to price that collapse in.
OR
It rages uncontrolled and uncontested through the USA and we end up realizing we're in the same boat as Italy, only with nobody at the helm doing anything. It's clear this is the direction we're headed. The death curve for COVID-19 is going to be VERY sharp and steep here. More up-front panic and pain, probably less overall economic damage in the long-run. It's not a bad play by Trump if you don't mind sacrificing a few tens of thousands of lives to ensure a V-shaped recovery. People have short memories.
I'm going to revise my bottom down a few thousand and wait a couple of weeks. Just need to hold on through tomorrow's (maybe this afternoon's) dead cat bounce. Probably a few more after that as well, in the coming weeks as we zig-zag toward the true bottom.
If you're retiring in the next few years, you should've moved your 401K to cash when oil crashed and coronavirus worsened. I guess today is too late.
I didn't do anything with mine cos I'm not retiring yet and I will still be in the workforce in the next 30 years. But I have been contributing minimal amount in the past 2 years. I'm just waiting for the worst to happen (DOW @ 17,000 level) then I'll max my contribution.
Yes Fidelity. I only did it because I'm supposed to retire next year.
I hear Fidelity is good.
Good on you.
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