this post was submitted on 04 Apr 2025
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[–] TommySoda@lemmy.world 34 points 1 day ago (2 children)

My portfolio is down 40% since January. I'm just glad I took most of it out before it got too bad so I've only lost about $1,000. I was about to open a retirement account too but decided against it when things started tanking and I'm glad that I didn't.

[–] monkeyslikebananas2@lemmy.world 8 points 1 day ago (2 children)

Tbf now is a good time to open a retirement account.

[–] Jhex@lemmy.world 6 points 1 day ago (3 children)

Is it? You assume things will recover

[–] markovs_gun@lemmy.world 6 points 19 hours ago

If things don't recover by the time I retire I have bigger things to worry about than retirement.

[–] frezik@midwest.social 9 points 23 hours ago (1 children)

If it doesn't recover, you're no worse off than anyone else.

[–] Jhex@lemmy.world 0 points 23 hours ago (1 children)

WHAT?! you do realize that during a depression (aka, if things don't recover in a while), people who never even dreamed of having enough money to invest would become absolutely destitute, right?

Any money thrown in investments that won't recover is literally wasted. Better under the mattress to eventually wallpaper your house

[–] monkeyslikebananas2@lemmy.world 8 points 23 hours ago (1 children)

Nobody is saying put your rent money into the market.

[–] Jhex@lemmy.world 3 points 23 hours ago (1 children)

no, of course. What I meant to say is the mentality that you can buy now cheap because the market is on a dip, assumes a recovery which, this time around, it not at all likely.

If you do not have much money, it would be best to save it in a less volatile medium than plummeting stock under the madness that is this MAGA presidency.

[–] leadore@lemmy.world 5 points 21 hours ago

Well, if you're young enough, you could live long enough to see it recover.

[–] ripcord@lemmy.world 1 points 20 hours ago

It will. Eventually.

But it has a pretty long way to fall.

And a LOT that can happen before a "recovery".

[–] TommySoda@lemmy.world 3 points 1 day ago

Now it is, but 3 months ago when I got the paperwork to do it was not. My procrastination saved me some money.

[–] ExtantHuman@lemm.ee 1 points 21 hours ago (1 children)

40%? Were you all in on Nike or something?

[–] TommySoda@lemmy.world 3 points 21 hours ago

It's what I had left after I sold almost all I had, so it was kinda the dregs anyway. I wasn't expecting much but 40% kinda took me by surprise.