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Allowing anxiety and fear to take over won't result in the best decisions made for one's financial future.
There are a lot of very triggered people and triggered emotional investors are an especially bad combo.
Can't control the market, all one can do is control themselves and what they choose to do, and who they choose to listen to. If you're nervous and emotional, then stay off the Internet and social media, don't watch the news (which is repetitive doom & gloom anyway), and go outside and get some fresh air, engage with life around you, not negative people who like to push buttons.
Review your finances, make sure you have savings that will take care of short-term needs (a year is good), and seriously relax. Panicking never makes things better and panic is the worst 'virus' of all.
Allowing anxiety and fear to take over won't result in the best decisions made for one's financial future.
There are a lot of very triggered people and triggered emotional investors are an especially bad combo.
Can't control the market, all one can do is control themselves and what they choose to do, and who they choose to listen to. If you're nervous and emotional, then stay off the Internet and social media, don't watch the news (which is repetitive doom & gloom anyway), and go outside and get some fresh air, engage with life around you, not negative people who like to push buttons.
Review your finances, make sure you have savings that will take care of short-term needs (a year is good), and seriously relax. Panicking never makes things better and panic is the worst 'virus' of all.
Well, I don't think people on this thread are particularly triggered... The OP asked, on NYC forum, how people were impacted by the market, which triggered only a discussion, not panic that I am aware of :-). I understand Mathjak pulled something out of the market on time, and the rest will come back after the crash. I have a very small amount in stocks, which I do not intend to touch (for about 25-30 years... if I survive the virus etc :-), except that I'll be doing partial Roth conversion this year from that account, so I'll be happy if the market drops as low as possible (so I can pay less tax on the conversion, and possibly actually complete the conversion this year, if the account gets to a sufficiently low value). After the Roth, I won't even think about that account for years (okay, I have to log into it from time to time so they don't close it assuming that it is abandoned, but I won't be looking at the numbers with any degree of major interest, just as I have not been until the Roth conversion time). I get my monthly allowance for eating ice cream and flying to Iceland from big insurance companies, and I don't think they will sink. If they do, then I'll work some more, but I honestly don't think they will, I don't think my annuity accounts will register anything at all.
I'm talking generalities about reactions to the market, as we've witnessed this week, and in past years. When you see 1,000 pt drops or more in 1 day, and >11% in one week, obviously there's some panicking going on. Panic is a manifestation of fear. That's in addition to the unwinding that takes place with trading algorithms, which are programed by humans. Like dominoes falling, fear begets more fear.
When I see market fears in relation to politics, yes I think of triggered people. Having been in the market since '87 and through several changes in office, recessions, crashes, corrections and all of it, change is inevitable, but staying the course and continuing on as an investor is a choice that, over the long run, tends to work out pretty well. There are triggered people everywhere, btw. They tend to (but not always) believe in or talk about conspiracies.
When you see 1,000 pt drops or more in 1 day, and >11% in one week, obviously there's some panicking going on.
Sure, but the funnier panicking in my opinion is of course all the opinion pieces that basically say "I saw this crash coming 10 years ago and have been sitting out the market ever since. I think this means is it going downwards to the correct value my paranoid obscure calculations say it should be".
glad i bought 100k of SP 500 friday - good day today
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