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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.
Tbf now is a good time to open a retirement account.
Is it? You assume things will recover
If it doesn't recover, you're no worse off than anyone else.
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
Nobody is saying put your rent money into the market.
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.
Well, if you're young enough, you could live long enough to see it recover.
If things don't recover by the time I retire I have bigger things to worry about than retirement.
It will. Eventually.
But it has a pretty long way to fall.
And a LOT that can happen before a "recovery".
Now it is, but 3 months ago when I got the paperwork to do it was not. My procrastination saved me some money.
40%? Were you all in on Nike or something?
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.
I was just saying, that's like 3x the drop the rest of the market saw, so you must have had a few very specific stocks that only had their supply chains through the hardest hit tariff countries