Stocks? Sitting tight? Selling? Buying?

[dennis thompson]

Pretty scary stock market, I'm trying to sit tight but must admit I've sold some. What are you doing? I know, I know, Warren Buffett is out there buying, but I'm no Warren Buffett. It's a lot easier when you have billions to be a buyer at this time.

[Curt Harms]

I think sitting tight I think is the best policy. I think this panic won't last long. Once the Corona Virus is better understood and no, we don't need 2 months supply of toilet paper on hand, things will get back to nearly normal. Will the stock market get back to where it was? I'm guessing not for a while but it'll come back from where it is now. What would really throw a wrench in the machinery would be news of widespread layoffs, cancellation of industrial orders, that sort of thing. Markets don't like uncertainty and there's a fair bit of uncertainty right now.

[michael dilday]

I am staying in the market but my CFP and the fund managers may have made some adjustments. I know he put a little cash on the side when the market was high anticipating a correction which he will probably invest soon. I try to stay out of the details.

[Matt Schrum]

I'm sitting tight at the moment, but looking to buy $20-30K in the next month and maybe reshuffle some of my bonds to buy more stocks. I figure it's still got a ways to go down before it heads back up-- but in the long term, it's heading back up.

[Erik Loza]

Sitting

Erik

[Jim Becker]

Sitting. No point in panicing. I made one minor change a few weeks ago to slightly lower volatility risk, but other than that, I'm fine staying in the fund I use for my IRAs.

[Mark Daily]

Sit tight and make some sawdust. It will come back quickly after the virus burns out.

[Stephen Tashiro]

Bought 300 shares of Emerson Electric on Friday.

[glenn bradley]

Really!?! This is where you get your portfolio advice? :D I'm just funnin'.

Historically you will have the advantage if you have a plan, stick to the plan, stay the course. At my age I am now fairly conservative. It took me a couple of days to figure out what the yung-uns were panicking about. Then I thought back to my younger days and my more aggressive positions . . . yep, that woulda hurt.

[Pat Barry]

Sold some about 2 weeks ago and glad I did to free up some cash. Money went into bond fund whch has not suffered so much. Can be moved back when things settle. Maybe time to buy more Bitcoin though!

[Edwin Santos]

Whatever decision you make in terms of buying, selling or sitting should be made in the context of ensuring you have enough cash on hand to make sure your personal liquidity is not at risk. Ask yourself whether you would be okay with it if the money you have in the market was not accessible to you for a while, maybe a few years. Part of the calculus should be consideration as to whether there might be an interruption to your income i.e. job security.

It is possible that this whole crisis could resolve as quickly as it appeared and normal life can resume.
It is also possible that the pandemic is only the catalyst for a deep worldwide recession comparable to, or maybe even worse than the one in 2008. So I would say it is best to be prepared for either scenario.

What's happening now is what is sometimes called a "black swan" event in economic circles.
If you encounter anyone who talks with a "been there, done that, not my first rodeo" attitude, step away and practice social distancing.

I do agree with the traditional advice to stick with your plan. Of course this is best if your original plan was sound in terms of diversification and liquidity. If your plan was not sound, then there may be some tough decisions to be made.

[Bob Grier]

Sitting.

I do enjoy trying to beat the market with a small account.

Over the past 3 or 4 quarters I have been rebalancing a little and will rebalance the other direction when market or economy starts to change. I live easier this way. What is going on now is no different than has happened in the past. It is normal to me. I expect it will take 2 to 5 years for recovery but I really don't know and won't worry about it. At least not now.

For me it is time in the market, not timing the market. The compound growth thing is amazing.

[Ken Fitzgerald]

I am always in it for the long term. I am sitting out this panic selling as always.

[Jim Koepke]

Sitting

A book was given to me many years ago that explained market movements as:

Bull Market: Bulls dip their horns low then lift what has caught their focus.

Bear Market: Bears stand tall, extend their claws and pull things down.

Chicken Market: Investors running around in circles and making a lot of noise. Some jump in to peck at whatever looks good. Others are trying to get out and selling everything. None of them have any real idea of what is going on or if they do have information it is often more akin to rumors.

There may be opportunity as this winds down. Some very strong companies will have their stock value drop to bargain prices and many companies will come back stronger than before.

If your crystal ball doesn't catch a cold you could make some good moves as this all settles.

jtk

[Wade Lippman]

I thought it would crash as soon as I heard the Chinese couldn't contain it. But there was nothing I could do.
Everything was bought in 2009 and is up 150% now. If I sell, I will have a heck of tax bill; so I have no choice but to sit it out. I am planning on leaving it in my estate, so my heirs will get a new basis.
It will come back eventually.

[David Bassett]

Stick with your plan would seem to be the best advice. Markets go up & markets go down and any long term plan should include both. But with the market down there are a couple of options to tweak your portfolio while sticking with your larger plan.

Two options were mentioned by our advisor to consider are *IIF* you have "cash" on hand that you don't need in the foreseeable future, (i.e. not your emergency funds, or balloon payment funds, etc.) First, go a little heavy in stocks because they will come back. (She is thinking next fall, but admits it could be five plus years.) Second, roll regular IRAs or 401K funds into Roth accounts. The value is depressed right now and (US!) tax rates are at recent lows, so you minimize the tax due and convert all future growth to tax free. Of course, YMMV and consult your own financial and tax advisers.

[Jim Tobias]

Sit it out.....as always. It always comes back.....just a matter of how quickly that happens.

Jim

[Stephen Tashiro]

I am planning on leaving it in my estate, so my heirs will get a new basis.


Since few people actually own stock directly, it's an interesting question how taxes are done when a person owns stock through a brokerage account. One may declare beneficiaries to a brokerage account. It no beneficiaries are declared, I suppose the account becomes property of the estate and is settled by the executor.

In the case of beneficiaries, is the brokerage required to sell all the stocks in the account and distribute cash ?

The heirs of the account will not owe taxes on the inheritance, but must the brokerage or the estate pay some taxes before distributing cash?

[Doug Dawson]

What's happening now is what is sometimes called a "black swan" event in economic circles.
If you encounter anyone who talks with a "been there, done that, not my first rodeo" attitude, step away and practice social distancing.


You mean, like 2001 and 2008+? That was an important thing to have learned from, and gives me great calm.

Don't come home a drinkin', with sellin' on your mind, la la la.

OTOH, the other day the handyman at one of my buildings told me that 3 shots of whiskey per day are an effective preventative for viruses. I forgot to ask him whether that was all at once, or just at breakfast lunch and dinner. In either case stay away from the tools (and the keyboard) until it wears off.

[Doug Dawson]

Sitting.

I do enjoy trying to beat the market with a small account.

Over the past 3 or 4 quarters I have been rebalancing a little and will rebalance the other direction when market or economy starts to change. I live easier this way. What is going on now is no different than has happened in the past. It is normal to me. I expect it will take 2 to 5 years for recovery but I really don't know and won't worry about it. At least not now.

For me it is time in the market, not timing the market. The compound growth thing is amazing.

Indeed.

These event-driven (as opposed to fundamentals-driven) market downturns tend to be V-shaped.

[Thomas Crawford]

bought last week (obviously early). Buying more soon. Nothing speculative, only money and companies I'm comfortable owning for several years if necessary.

Once the market stabilizes I'll look at options.

[Doug Dawson]

Since few people actually own stock directly, it's an interesting question how taxes are done when a person owns stock through a brokerage account. One may declare beneficiaries to a brokerage account. It no beneficiaries are declared, I suppose the account becomes property of the estate and is settled by the executor.

In the case of beneficiaries, is the brokerage required to sell all the stocks in the account and distribute cash ?

The heirs of the account will not owe taxes on the inheritance, but must the brokerage or the estate pay some taxes before distributing cash?

To the first question, not unless that was specified in the will, which is probably unusual (and would demand an attorney, wills are cesspools of confusion if not done properly.)

To the second question, the brokerage account should be a straight pass-through to the beneficiary. It may not even be part of probate. It would depend on the jurisdiction. You should consult an attorney (which I am not.) And taxes owed on an inheritance would (in the US) likely kick in only after a very high threshold (tens of meelions) if at all. Things keep changing.

[Tyler Bancroft]

Think of this as 2008, but with more uncertainty. I doubt the markets have hit bottom yet.

[Rod Sheridan]

Sitting it out and buying at the same time...........Not selling anything........Rod.

[Doug Dawson]

Think of this as 2008, but with more uncertainty. I doubt the markets have hit bottom yet.

Probably so. It's kind of like a movie, the ending of which hasn't been written yet. And as screenwriter Bill Goldman said, re the movies, Nobody knows anything. :^)

[Paul F Franklin]

My investments are all in cash and have been for few weeks. Since I am retired, I am more concerned with capital preservation and less concerned with growth. I doubt I'll get back into the market until there are clear signs the virus is under control and the extent of the impact on our economy can be assessed. Right now, everyone is guessing.

[andrew whicker]

bought some Delta... going to buy some SP500 index fund soon

[Doug Dawson]

bought some Delta... going to buy some SP500 index fund soon

There's been some serious talk of bankruptcies among the major airlines, so buying stock in them right now could be very risky (shareholders are among the last in line to be made whole.) Buying GM in 2008 when the share price hit fifty cents did not work out well for people.

OTOH, buying Apple at $13/share back in 1997 when Steve Jobs came back on board, and people were seriously suggesting that Apple would/should go bankrupt and liquidate, turned out to be a very good call. OTOH OTOH, there is no Steve Jobs of the airline industry.

Buying S&P 500 index fund shares would IMO be a good bet, in the long run at least.

[julian abram]

Sitting tight, AA is 60:40 but have some cash on the sidelines to start buying more Fidelity S&P 500 soon. Although gut wrenching now, in a couple years we won't be thinking much about it. Investing is a long term game, stop checking you balance everyday.

[Scott Donley]

I have to admit, seeing the Dow at 20,000 I am having my doubts about hanging in there. I know the markets always come back over the long term but at 69 and poor health I am not sure any more.

[Kev Williams]

I make my money the old-fashioned way. Good or bad, my portfolio is everything-proof...

[Doug Dawson]

I make my money the old-fashioned way. Good or bad, my portfolio is everything-proof...

Unfortunately, investing, either directly, or indirectly (through Social Security (payroll tax) or a pension (pension fund)), is the only way to fund yourself in retirement, unless you want to work til the day you die, for most people.

[roger wiegand]

Sitting, but may rebalance. Went over heavily to more stable investments in 2016, expecting extreme volatility, so losses are marginal at this point. Following this correction adjusting the stock percentage back to pre-2106 levels later this year may be prudent.

[Lisa Starr]

Buying...I've had some cash that I didn't want to put into a CD becauseof the low rates available. I'm discussing investment options with the advisor and expect to move $20,000 or so into the market this week and next.

[Bruce Volden]

I was one of those "noob" investors back in June 1987. Stuck 15K in through an IDS advisor. Lost a whole lot of it!
By December I was up 2500 bucks?? It was in an aggressive fund. I was then happy. This one may take awhile though me thinks.
I think I'll try a little day trading soon.

Bruce

[Jeff Body]

Does anyone have any books they'd suggest reading to learn about this stuff?

I pretty much know nothing about it other then I lost $16,000 over the last few weeks in my 401K. Last week I'd had enough and moved it all into bonds because I saw the market continue to drop and it pained me to keep losing money. My basic plan is to watch the news and look for a climax to this virus stuff and move it back into my fidelity (accounts?) again. If I break even and regain that $16,000 I'll be happy.


But I'd really like to learn more about the stock market and how to work it. Any suggestions?

[Ronald Blue]

If I was invested in stocks I would definitely be sitting. You haven't lost a penny until you sell. That's the mistake so many make. They blink. I'm thinking it may be a good opportunity soon to invest. I don't think the slide has ended yet though.

[julian abram]

Does anyone have any books they'd suggest reading to learn about this stuff?

I pretty much know nothing about it other then I lost $16,000 over the last few weeks in my 401K. Last week I'd had enough and moved it all into bonds because I saw the market continue to drop and it pained me to keep losing money. My basic plan is to watch the news and look for a climax to this virus stuff and move it back into my fidelity (accounts?) again. If I break even and regain that $16,000 I'll be happy.


But I'd really like to learn more about the stock market and how to work it. Any suggestions?

You need an investing plan that fits your age and goals. Here is a good place to start thinking about your journey. This is a tried and true investment philosophy of Jack Bogle, founder of Vanguard the second largest asset management company in the U.S.
https://www.bogleheads.org/wiki/Bogleheads®_investment_philosophy

[Doug Dawson]

You need an investing plan that fits your age and goals. Here is a good place to start thinking about your journey.
https://www.bogleheads.org/wiki/Bogleheads®_investment_philosophy

I agree. There is an immense literature on this subject, but that's a good place to start. And the forums at bogleheads.org are a good place to witness how people are behaving, one way or the other.

Stay the course, once you're on the right one (known only to you.)

[Nicholas Lawrence]

Does anyone have any books they'd suggest reading to learn about this stuff?

I pretty much know nothing about it other then I lost $16,000 over the last few weeks in my 401K. Last week I'd had enough and moved it all into bonds because I saw the market continue to drop and it pained me to keep losing money. My basic plan is to watch the news and look for a climax to this virus stuff and move it back into my fidelity (accounts?) again. If I break even and regain that $16,000 I'll be happy.


But I'd really like to learn more about the stock market and how to work it. Any suggestions?

A few general concepts (I am not an investment advisor)

(1) Of the thousands of stocks only a few will truly outperform the market. You cannot consistently identify them in advance.

(2) Most of the markets gains come on a very small number of trading days. A recent study showed that if you missed the 50 best days of the stock market since 1928 you would give up 2/3 of the returns you would get if you just bought a diverse basket of stocks and held them. You cannot consistently identify those days in advance.

(3) Active trading costs you two ways: commissions, and the spread on the stock price. Investment in actively managed funds adds the fee for the manager.

These are some of the main reasons why the typical advice for a typical investor is to buy a broad market fund with low fees and simply hold it.

It is not easy advice to follow in times like these. But Buffett makes a lot of money when there is "blood in the streets" by buying from people who do not follow that advice.

[michael dilday]

You never know what the market is going to do tomorrow. It's like when you have a cold you think you can beat and you start feeling so bad you make a doctors appointment. For me I usually start feeling better before I make it to the doctors office. Same with the market. When you decide to sell often it is at or near the bottom and you lock in your losses and are late to the recovery. I use Wells Fargo Advisors and have a team that manages it for me. They are the experts. And my guy is also a woodworker so we have a lot to talk about and share.

[Doug Dawson]

Pretty scary stock market, I'm trying to sit tight but must admit I've sold some. What are you doing? I know, I know, Warren Buffett is out there buying, but I'm no Warren Buffett. It's a lot easier when you have billions to be a buyer at this time.

Here is some "perspective" content:

https://www.bogleheads.org/forum/viewtopic.php?f=10&t=307826&newpost=5103487

And here is some more:

https://www.bogleheads.org/forum/viewtopic.php?f=10&t=307379&newpost=5103533

[bob pfohler]

I retired from my previous job last January . I had the option of leaving my investments with the company and I did for the first year.
About 2 months ago my financial advisor told me he thought it was time to roll them into cash and look for something else. I did just that and really lucked out! I love that man!

[Stephen Tashiro]

To the first question, not unless that was specified in the will, .

To clarify, the first question is about what a brokerage does to distribute an account to declared transfer-on-death beneficiaries. A will would have no say in that. Does the brokerage liquidate all the non-cash assets in the account and distribute only cash?

[Doug Dawson]

To clarify, the first question is about what a brokerage does to distribute an account to declared transfer-on-death beneficiaries. A will would have no say in that. Does the brokerage liquidate all the non-cash assets in the account and distribute only cash?

No, they should just transfer title to the account. With updated basis, of course. (That is, capital gains would be based w.r.t. the date of death.) It may be up to the new account holder (or their accountant) to determine what that basis is. That's why we have lookup tables for historical stock prices.

Again, as I noted, anything else would be kind of weird.

This is in the United States, of course.

[Edwin Santos]

To clarify, the first question is about what a brokerage does to distribute an account to declared transfer-on-death beneficiaries. A will would have no say in that. Does the brokerage liquidate all the non-cash assets in the account and distribute only cash?

In my experience, the title to the account would be transferred in accordance with the will. The stocks, bonds, other holdings in the account would stay intact and the title of the account moves from the decedent to a beneficiary.
In the event that the account would not be transferring completely to one party but instead is being distributed to multiple beneficiaries, a personal representative (executor) or trustee could give instructions to the brokerage to divide up assets within the account and split them among two or more new accounts each in the name of a beneficiary, again in accordance with the will (or trust), and often subject to court approved probate. Even in this latter case, nothing is being sold, rather the assets are being divided and allocated intact.
A less liquid asset like a piece of real estate becomes a bit more complicated.

It's possible that a will or trust could require that an account be liquidated, but I've never seen it, and I think doing so would have to happen over the advice of the attorney who drafted the estate documents because it's a reckless thing to do. But possible I suppose.
Edwin

Note: some of this could vary state to state in the US.

[Stephen Tashiro]

In my experience, the title to the account would be transferred in accordance with the will. The stocks, bonds, other holdings in the account would stay intact and the title of the account moves from the decedent to a beneficiary.

I think you're correct that the stocks and bonds need not be liquidated. But the will and its executor have no say about distributions to transfer-on-death beneficiaries that are declared on brokerage and bank accounts. If no transfer-on-death beneficiaries are declared with the brokerage, then inheritance of the account would be governed by the will.

[Pat Barry]

Does anyone have any books they'd suggest reading to learn about this stuff?

I pretty much know nothing about it other then I lost $16,000 over the last few weeks in my 401K. Last week I'd had enough and moved it all into bonds because I saw the market continue to drop and it pained me to keep losing money. My basic plan is to watch the news and look for a climax to this virus stuff and move it back into my fidelity (accounts?) again. If I break even and regain that $16,000 I'll be happy.


But I'd really like to learn more about the stock market and how to work it. Any suggestions?

The Art of the Deal has lots of great ideas!

[Pat Barry]

Always a good idea to make sure your financial accounts have up to date beneficiary designates. This is a great time to review those.

[eugene thomas]

Its only numbers till move the money out... i lost 50 grand as of this morning but seems to be doing good today. The joy of thrift savings. Even if transfer takes like 3 days to go through.

[julian abram]

In my experience, the title to the account would be transferred in accordance with the will. The stocks, bonds, other holdings in the account would stay intact and the title of the account moves from the decedent to a beneficiary.
In the event that the account would not be transferring completely to one party but instead is being distributed to multiple beneficiaries, a personal representative (executor) or trustee could give instructions to the brokerage to divide up assets within the account and split them among two or more new accounts each in the name of a beneficiary, again in accordance with the will (or trust), and often subject to court approved probate. Even in this latter case, nothing is being sold, rather the assets are being divided and allocated intact.
A less liquid asset like a piece of real estate becomes a bit more complicated.

It's possible that a will or trust could require that an account be liquidated, but I've never seen it, and I think doing so would have to happen over the advice of the attorney who drafted the estate documents because it's a reckless thing to do. But possible I suppose.
Edwin

Note: some of this could vary state to state in the US.

Edwin is 100% correct, this was our experience. The wife's mother passed away Feb. 9. Her Fidelity account stock and bond shares were transferred directly to my wife's account and her brother's account today. Nothing was sold, just shares were transferred. Fidelity would not transfer to our joint brokerage account, they required my wife to set up her own account to transfer into. Now I need to be real nice to the wife.:)

[John Goodin]

I put everything in cash reverses several weeks ago. The bull has been growing a long time and I would rather lose a little upside than take a big hit. Since our retirement is pension based we have a fairly aggressive portfolio. The middle child goes to college in August 2021 and we would have lost a years worth of tuition just yesterday.

[Doug Dawson]

I think you're correct that the stocks and bonds need not be liquidated. But the will and its executor have no say about distributions to transfer-on-death beneficiaries that are declared on brokerage and bank accounts. If no transfer-on-death beneficiaries are declared with the brokerage, then inheritance of the account would be governed by the will.

In some sense the transfer-on-death beneficiary designation would be considered "part of the will" (lawyers may argue endlessly about this, and I suspect they do. :^)

By the time the family is gathered for the will reading, the account beneficiary is already reclining on the beach in Cabo.

BTW, this also applies to bank accounts, if there's cash involved, etc.

So yeah, keep this stuff up to date! And don't feed the sharks if you can help it. Have a well-thought-out will written for you, if there's significant money involved, or even if not. Somebody's last dying words as they've just been run over by their own tractor are grounds for costly and seemingly endless dispute.

I should of course add, this is not legal advice! I am not licensed to practice law in your state, although I know lots of interesting laws by heart, etc.

[Stephen Tashiro]

Edwin is 100% correct, this was our experience..:)

Are you saying that the wife and her brother had been declared as transfer-on-death beneficiaries? Or are you saying that the account was divided in accordance with the provisions of a will?

[Aaron Rosenthal]

Returning to the topic;
I sold a little of the wife’s portfolio this morning, as the market went up. It’s a retailer who’s already warned of supply line difficulties for the coming 2 quarters. I took my profit and left.
She has a larger position in another company, with a very large profit (so far) and since it has a stunning balance sheet, and little debt to cash flow, I’ll be putting in a stink bid for more of that stock.
Both my accounts (RIF = US IRA) and TFSA which is an after tax investment account with no tax consequences upon withdrawal, are waaay under water. I’ve identified the weaker companies, and once they’re marginally in profit, I’ll redeploy into faster growing companies.

[Bob Glenn]

Just remember, for every seller, there is a buyer. Also, unless you are buying preferred stock, which is rare, your common stock is just paper. With common stock, you are the last in line to get paid, if there is anything left over after all the other bills are paid. Just sayin.......

[Jim Becker]

Having proper beneficiaries (and contingent beneficiaries) on financial accounts is very important to avoid probate and insure that the funds go where one intends rather than "to the estate" which takes time and is a real pain. I just had to make sure all my mother's affairs were setup properly for that reason.

[julian abram]

Are you saying that the wife and her brother had been declared as transfer-on-death beneficiaries? Or are you saying that the account was divided in accordance with the provisions of a will?

Actually both. My wife and her brother were listed as TOD beneficiaries under their mother's Fidelity profile. Also the percentage of their benefit was recorded by their name in her Fidelity profile. This percentage was based on the provisions of her will.

[Thomas Crawford]

I'm still waiting, based on the action this week I'll probably be buying the next dip.

[John Goodin]

Having proper beneficiaries (and contingent beneficiaries) on financial accounts is very important to avoid probate and insure that the funds go where one intends rather than "to the estate" which takes time and is a real pain. I just had to make sure all my mother's affairs were setup properly for that reason.

Estate planning is more complicated than many people realize. Having beneficiaries is great for people who wish to give assets to adult children; maybe not for minor children. Minors listed as beneficiaries get their share at age 18. Lots of money in the hands of a teen is often disastrous.

We just went through this and set things up where our teenagers will have college/post high school training, including room and board, covered and not much else. They will only get one half of their share of the estate at 27 the other half at 31. Hopefully this will not be an issue and I will live long enough to see them grow into happy, well-adjusted adults.

[Doug Dawson]

Estate planning is more complicated than many people realize. Having beneficiaries is great for people who wish to give assets to adult children; maybe not for minor children. Minors listed as beneficiaries get their share at age 18. Lots of money in the hands of a teen is often disastrous.

We just went through this and set things up where our teenagers will have college/post high school training, including room and board, covered and not much else. They will only get one half of their share of the estate at 27 the other half at 31. Hopefully this will not be an issue and I will live long enough to see them grow into happy, well-adjusted adults.

Just hope and pray you never see what happens when _adults_ share beneficiary status! Particularly when real estate is involved. Shares can be divided. A building divided cannot stand (sorry Mister Lincoln. :^) The Hatfields and McCoys might have nothing on that...

[Pete Staehling]

I am generally sitting tight. I might do a little shifting and balancing if my advisor recommends it, but so far they have not and I am not inclined to want to. I do have some pretty big paper losses but they are only losses when you actually sell, just like they weren't actually profits when the stocks peaked and there was no sale. I resist even calculating what those "losses" are. I remember arguing with my brother in the past when he said how he had lost X number of dollars and was obsessing over it during a big downturn (2007-2008). He didn't agree with me at all that it was all just paper until you sold and it would work out in the long run. I said that since he didn't need to cash out any time soon he should just count his blessings and wait the market out. That was good advice at the time and probably is now.

[Jim Becker]

Estate planning is more complicated than many people realize.

Definitely. We don't have minor children, but are dealing with the complexities of needing a trust for an adult child with disabilities and zero money sense. We can't expect the other daughter to manage this should something happen to Professor Dr. SWMBO and I. There is exactly one organization in PA that specializes in this kind of thing and they are enormously hard to meet with and get information from simply because they are understaffed. Setting up the trust is easy and our own attorney can do that, but managing it, including dealing with SSDI, SSI and some other things is a nightmare.

[Prashun Patel]

I feel for you, Jim. That must be a permanent load on you.

[Jim Becker]

I feel for you, Jim. That must be a permanent load on you.
It can be frustrating sometimes. "The system" is difficult to negotiate and these kinds of things have to be done correctly or the consequences can be "not pretty". But you do what you have to to support your kids. :)

[Josko Catipovic]

Cautiously buying. So far, so good!

[John E. Hobart]

Always use a good estate planning lawyer, every states laws are different and don't always make sense. We just set up a trust for our estate after my wife spent 2 years as co-executor on her fathers estate, had to go to court 4 times due to him not being specific on how to divide 50 acres of farm ground between 7 children.One hell of a fight, learned
a lot about human nature and greed. Our stuff is in the market in stocks and mutual funds, down about 500k now,but looking at putting about 200k back in over the next few weeks.

[John Goodin]

Jim feel your frustration for such serious matters. I was quite fortunate to have found an estate attorney who specializes in dementia patients (my mom) and retired or disabled vets ( my dad is both.) She worked things out where my mom will be taken care of regardless of what happens to my dad.

[dennis thompson]

Interesting how this has evolved into a bit of an estate planning thread, if this market keeps going I won't have much of an "estate" to plan for:).

[Jim Becker]

Jim feel your frustration for such serious matters. I was quite fortunate to have found an estate attorney who specializes in dementia patients (my mom) and retired or disabled vets ( my dad is both.) She worked things out where my mom will be taken care of regardless of what happens to my dad.
It's actually easier for something like dementia than with a high-functioning adult with mental illness for this kind of thing.

[Phil Mueller]

Sitting tight with a little tax loss harvesting. Might as well try to get something in return for the paper losses.

[Thomas L Carpenter]

This is a good thread.

1) sitting although I notice some of our fearless leaders are not so fearless.
2) three shots a day sounds like a good thing to try.
3) we have two adult children also with disabilities and zero money sense but we spent a lot of time setting up trust accounts and going through the estate planning thing so are in good shape there.
4) I think we are getting ready to start buying soon. I usually like dividend paying utility stocks.

[Art Mann]

I have accumulated cash over the last year or so and am waiting for prices to go down further before buying. I predict the market will get worse before it gets better. I still have a lot of stock and I have no intention of selling any of it. Why would I want to sell and lock in losses?

[Michael Weber]

I bought a small position in an Index 500 ETF as the market fell badly last Wednesday. I sold it Thursday for a modest gain because the whole situation just got so frightening. Everyone says stocks will recover. Maybe, even probable, but I have a theory about why the decades long run up in stock prices may dampen in the future. Hope I'm wrong

[Stewie Simpson]

Just read this rather dire outlook;

It also comes after a senior Federal Reserve executive warned unemployment in the United States could hit 30 per cent, worse than during the Great Depression and three times the level during the global financial crisis.
That could lead to an unprecedented 50 per cent drop in GDP or a $US2.5 trillion hit to the world's largest economy with the hope it would recover in the next quarter.


“But when you're talking about that level of unemployment, you've got to hope that the social fabric of society holds up because there’s going to be a whole lot of economic pain,” Mr Weston said.
He says the knock-on effect of plunging stocks will drag on other asset classes such as housing as investors are forced to liquidate.
“The more that these financial markets continue to tighten, the more people are going to feel less wealthy,” Mr Weston said.
“The people who lose their jobs are clearly not going to go out spending, and the people who have got a job are going to feel less wealthy because the markets continue to crash by significant amounts every day.”

https://www.news.com.au/finance/markets/australian-markets/asx-analysts-grim-warning-for-stock-market-amid-coronavirus-shutdown/news-story/a6bc4ae678090347a0161a437f6d6e43

[michael dilday]

Looks like today might be the day.

[dennis thompson]

Looks like today might be the day.

Michael
Well you were certainly right☺, lets see what happens tomorrow

[Doug Dawson]

Michael
Well you were certainly right☺, lets see what happens tomorrow

Nothing changes the fact that now is not the time for drama. Emotional decisions have no place interfering in a sound investment strategy/philosophy.

I learned from the best smartest people, that you have to pick a good way, and you just have to stay the course.