Hey Mindie, I understand the concept of "patience", in general, given historical performance of the markets. However, we are in unprecedented times, with policy changes that are affecting, and will be affecting even more, our U.S. economy, seemingly for years to come. My, and many others', expectation is that things are going to get much worse before they get better...and not sure how long it will actually be before things get better. Can you please share your take on all this? Thanks!
Hi Regena, Thanks for adding your thoughts! I'm a day trader along with many of my clients so we're usually focused on a much smaller timeframe. Patience for us is a moment-by-moment endeavor. 😆 With long-term investments or retirement accounts, there are so many factors that contribute to making a decision, such as age, goals, risk profile, etc...
As for the bigger picture, so far, we've pulled back about 10%, which historically has been bought (other than during a complete calamity like COVID). We'll have to see how this one plays out.
Hey Mindie, I understand the concept of "patience", in general, given historical performance of the markets. However, we are in unprecedented times, with policy changes that are affecting, and will be affecting even more, our U.S. economy, seemingly for years to come. My, and many others', expectation is that things are going to get much worse before they get better...and not sure how long it will actually be before things get better. Can you please share your take on all this? Thanks!
Hi Regena, Thanks for adding your thoughts! I'm a day trader along with many of my clients so we're usually focused on a much smaller timeframe. Patience for us is a moment-by-moment endeavor. 😆 With long-term investments or retirement accounts, there are so many factors that contribute to making a decision, such as age, goals, risk profile, etc...
As for the bigger picture, so far, we've pulled back about 10%, which historically has been bought (other than during a complete calamity like COVID). We'll have to see how this one plays out.
p.s. Personally, I moved my 401 money out of Vanguard and into cash...for maximum protection during all this uncertainty.