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Get to $5 snap. Will be a steal at that point.
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Get to $5 snap. Will be a steal at that point.
Just some advice to anyone reading who hasn't been around during a serious bear market... If you are invested in something solid and diversified like the S&P 500 index fund through your 401k or taxable accounts, and you are investing for the long term...do NOT panic. Nobody knows how low this will go or for how long, but if you hold, and more importantly, keep buying regularly, you will be very well off. Bull markets make you money, bear markets make you rich (if you don't panic). Don't worry about trying to time the market and ignore the doom and gloom you will hear on TV.
If you read my posts on here for the past few months I've been leaning bearish and raising cash, but the only reason I did that is to buy more on the way down.
Index funds are key during recessions and bear markets. Lowest fees, no commissions in some cases, no risk of losing it all through a company's bankruptcy, and potentially tax free through a Roth IRA? Hoard cash if you can, patience pays off.
Agreed on purchasing continually, but in small purchases like JRS said. Buying during a bear market at any point usually results in outsized gains once the market reverses and economy recovers though. Just need to hope you bought at the most opportune times, because like you said, you cant time the market.That can get you into trouble though... cause at what time do you stop hoarding cash and start buying again? I think the key is to make sure you're continuously buying the whole way down, cause none of know will ever time this market perfectly.
For my long term holdings I buy same amount every single week no matter what. Auto-invest is set up, money goes straight from my bank, don't even think about it. Will do this until I retire.
My goal is to hold forever, live off dividends, pass on whole account to my kids. Compounding interest is a beautiful thing.
I like this play, what are you buying though?
I just buy the VTI ETF with Vanguard for the total market risk.Simple cheap index fund that covers the whole market,I go with VTSAX from Vanguard.
Simple cheap index fund that covers the whole market,I go with VTSAX from Vanguard.
"Don't look for the needle in the haystack, buy the whole haystack" - Jack Bogle
Watchlist and added to position:
$TOPS.