DOW pushing 19, there will be many history books written about the next 12 months.

Fortunately MrsC's job and my job are not in danger at this time. We have no debt at all.

 

Our financial guy moved 75% of our money to gold and cash equivalents right after Christmas. He moved the rest out when the DOW hit 24k, so we've only lost 3-4%, and are positioned to make a bunch on the turn around.

 

We're gonna live our lives as normal as possible. We'll probably actually save money, because we won't be going out much.

 

Only thing we're not doing is large purchases. Our jobs are about as safe as can be, but nothing is certain.

Fortunately MrsC's job and my job are not in danger at this time. We have no debt at all.

 

Our financial guy moved 75% of our money to gold and cash equivalents right after Christmas. He moved the rest out when the DOW hit 24k, so we've only lost 3-4%, and are positioned to make a bunch on the turn around.

 

We're gonna live our lives as normal as possible. We'll probably actually save money, because we won't be going out much.

 

Only thing we're not doing is large purchases. Our jobs are about as safe as can be, but nothing is certain.

 

One heck of a move, you saved thousands!

I had plans of putting a fence in the backyard for the dogs this spring. That might be put on hold, haven't decided yet.

 

I think we are definitely going to be saving money, especially because my wife can't stop for Starbucks and I can't stop for a random beer here or there. Plus no weekend adventures. That helps balance some of the lost vending money.

 

We too planned on putting a fence in for the dogs. Money is already saved in a jar in the kitchen and we just got it priced out on Friday. We have all of the money to cover it, so thinking of moving forward with that.

 

Working on finishing the basement currently, may throw some more money at that but nothing major just some of the supplies needed to do the electric and plumbing.

I told friends a couple of weeks ago that Dow could go to 20,000. This was based on the shut down of the supply chain out of China. They said that was crazy and could never happen. I wish I would have been wrong.

Hard spot to be in right now. So I figured I'd throw it in here and see what everyone's thoughts are.

 

Significant other was in a single vehicle accident tonight when her back tire went off the road and she over corrected(she's safe). Car was able to be placed back on the road with help from a tow truck and drove home. With that said it's a 2007 Hyundai Elantra and although the damage isn't major, neither is the cars value. She has been saving for a new vehicle for about a year now but wasn't wanting to buy for another year. It's obviously not the time we want to be making a bigger purchase but finance offers are VERY low(lot's of 0% offers) and both of us are in job's that are considered essential. Trying to decide if we should let her use my car as much as possible for a few months, invest money in her vehicle which is already low in value or just bit the bullet and get her a new vehicle. She's 32, never been in an accident and never even got a ticket so the insurance shouldn't take to big of a hit. In most scenarios with full coverage I'd say she might be one of those random people that comes out ahead. Just a lot to take in. She works in the medical field and was already just today starting to really worry about everything going on right now.

 

I know ultimately it will be our decision. But any idea's or suggestions would be appreciated. This all happened this evening while she was heading into work.

I would do whatever I could to avoid assuming more debt. I feel like you need to free up as much cash as possible during a time of great uncertainty.

I will continue to say push pause on all non-essential spending, until the storm is over. Especially, if you don’t have a 3-6 month worth of savings for all expenses. We are still very early into this, too much uncertainty.

Another financial debate on the opposite side of "paying the bills", for your long term and retirement money.

 

Are the markets stabilizing? Signs are starting to point that way. Are we close enough to the bottom to put money into the market?

Another financial debate on the opposite side of "paying the bills", for your long term and retirement money.

 

Are the markets stabilizing? Signs are starting to point that way. Are we close enough to the bottom to put money into the market?

 

It's almost impossible to predict the bottom. 2 weeks ago I wouldn't have predicted we'd be where we are at. If you still want to play, I think you are better off buying small amounts on a regular basis, and using dollar cost averaging, rather than trying to time the bottom.

Another financial debate on the opposite side of "paying the bills", for your long term and retirement money.

 

Are the markets stabilizing? Signs are starting to point that way. Are we close enough to the bottom to put money into the market?

 

Once it gets back to 21, 22k, it will start to grab my attention.

Much of the advice given on here is applicable to normal times also. Here's a "novel" idea: use common sense.

Much of the advice given on here is applicable to normal times also. Here's a "novel" idea: use common sense.

 

Agreed.

 

Give generously. Save with regularity. Spend with prudence. As little debt as possible.

 

Make that a financial lifestyle and you're set.

No doubt. But people generally end up living up to their means. They buy the house that's a little bigger, the car that's a little nicer. And when unprecedented bad times hit, it becomes hard to scale back. Very few people have the discipline to live a couple steps below their income. And it's hard to envision something like what's currently going on, ever happening. Heck, it's never happened before in any of our lifetimes.

 

While I have saved and been mostly prudent, I'm somewhat guilty of living up to my means. And as I've said before, I'm facing a big cut in income in the short term, and possibly losing my job if this drags on. So today, I've just lined up a side gig that will keep me out of touching my savings accounts if things completely crash. More importantly I'll be able to keep investing and saving money through this mess.

So today, I've just lined up a side gig that will keep me out of touching my savings accounts if things completely crash. More importantly I'll be able to keep investing and saving money through this mess.

 

Good deal. :thumb: