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Wait a minute … where’s that older thread about Biden’s BOOMING economy?
But, with that said, I’ve scheduled some time to talk to my financial advisor, to see what steps I could/should take to prep for this as best as I can.
The stock market last reached a record high on January 3 of this year. So, we're almost 4 months out into the market downturn. It is still not a bear market.
It is hard to predict what the future holds. I don't believe in crystal balls, so I don't get into that.
I’m actually not that worried, to be honest. I’ve put 10K in an I Bond, already had significant investments in REITs, looking next at TIPS, then going to look at certain commodities as I’ve always wanted to get more involved with those. But all the money I’ve got sitting in the market, I’m not selling, I’m going to hold it long term.
I do expect a 20% hit, which will suck, but it also means purchasing stocks that will be undervalued for the long term. So it’s not just a losing proposition. There will be opportunities to minimize losses and even come out ahead 5-10 years down the road.
The bottom line is that if you have your health and you are living clean, eating clean, and living a somewhat minimalistic lifestyle, you will be fine. It doesn’t cost any money to exercise, and it certainly doesn’t cost any money to quit eating sugary processed garbage.
The market was ridiculously valued when I pulled out earlier this year and it's still ridiculously valued now but don't fight the fed... if the modern monetary theorists want to pump they will pump. Pumping and inflating has been policy since 2008. I'm skeptical it will change now just to try and fight inflation.
The Federal Reserve will never reduce their balance sheets by even 1 trillion dollars. It will never, EVER happen. Their words don't match their actions, like pretty much all politicians and leaders these days. A half point rate hike is meaningless in the end. I don't expect the Fed Funds rate to ever eclipse 1%. To purposely plunge us into a healthy recession to fix the excesses is not something the ruling class are going to do.. they are going to maintain the status quo.
The average person would benefit by time in the market, not timing the market. Dollar cost average at these levels and in the long run you will be better off. If the market drops 50%, who cares... eventually the DOW will be at 500,000 and nasdaq at 500,000 because in the end currencies debase and inflate... they never deflate.
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