Coronavirus financial advice

[John Anthony]

Agreed.

 

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

 

Make that a financial lifestyle and you're set.

 

I’m wondering who’s more frugal, you or me?

[Randy Parker]

I’m wondering who’s more frugal, you or me?

 

I'm not as frugal as I was when we were getting out of debt, but still pretty tight.

[TheDeuce]

I'm not as frugal as I was when we were getting out of debt, but still pretty tight.

 

The man won’t even pay for text messages.

[GrantNKY]

The man won’t even pay for text messages.

Wait who won’t pay for text messages?

[GrantNKY]

It keeps seeming more like I’m in the minority, I keep trying to become more and more serious about this financially, but I still keep coming back to this being a great time to be a buyer. If I’m wrong, I’m wrong but by the middle of summer or at worst by the start of football season, we’ll be back to normal. Nothing I’ve seen or heard makes me feel otherwise.

[TheDeuce]

Wait who won’t pay for text messages?

 

Young Randall.

[Voice of Reason]

It keeps seeming more like I’m in the minority, I keep trying to become more and more serious about this financially, but I still keep coming back to this being a great time to be a buyer. If I’m wrong, I’m wrong but by the middle of summer or at worst by the start of football season, we’ll be back to normal. Nothing I’ve seen or heard makes me feel otherwise.

 

I am with you on all this.

[John Anthony]

The man won’t even pay for text messages.

 

And I thought I was bad lol! Randy Parker!

[Randy Parker]

Young Randall.

 

"Young Randall" made me laugh a lot harder than it should have. :lol2::lol2::lol2:

[John Anthony]

"Young Randall" made me laugh a lot harder than it should have. :lol2::lol2::lol2:

 

Did you use to tell the ladies in your life, “I only get 50 free text a month, then it’s .10 cents for each additional.” Lol. I love this man!

[TheDeuce]

"Young Randall" made me laugh a lot harder than it should have. :lol2::lol2::lol2:

 

That's your rap name.

[Beechwoodfan]

It keeps seeming more like I’m in the minority, I keep trying to become more and more serious about this financially, but I still keep coming back to this being a great time to be a buyer. If I’m wrong, I’m wrong but by the middle of summer or at worst by the start of football season, we’ll be back to normal. Nothing I’ve seen or heard makes me feel otherwise.

 

I agree 100%. The mister and I have been buying a few stocks in the last week.

 

I remember the big crash in 2008. I know several people who bought stocks through that crisis and did very well. My father-in-law was a very savvy investor. He always said to wait out these times and take advantage, if you can, by buying. Don’t panic and sell.

[Bluegrasscard]

It keeps seeming more like I’m in the minority, I keep trying to become more and more serious about this financially, but I still keep coming back to this being a great time to be a buyer. If I’m wrong, I’m wrong but by the middle of summer or at worst by the start of football season, we’ll be back to normal. Nothing I’ve seen or heard makes me feel otherwise.

 

I got conservative (out of stocks to greater extent) after China quit shipping. I figured the market could get this low - and here we are. Yesterday was a good stable day on the Dow. Need a few more of those. I think things will be choppy until the light does show where the end of the tunnel is. Then we should be buying or moving 401K back into stock. Feels early right now. But further serious drop should be improbable at this point - hopefully! The knife should not fall much, if any further.

[Bluegrasscard]

I agree 100%. The mister and I have been buying a few stocks in the last week.

 

I remember the big crash in 2008. I know several people who bought stocks through that crisis and did very well. My father-in-law was a very savvy investor. He always said to wait out these times and take advantage, if you can, by buying. Don’t panic and sell.

 

Great advice for everyone. If you stayed in to this point - your in now! The only good road back is in the market (stocks).

 

It will likely take two years to "recover". And if the volatility keeps up it may feel bad. But if you were in stocks in February and kept them there. Its best to not look at your statements until there is some recovery. Do not bail at the bottom.

 

If you did move out of stocks in your 401K then the question will be when to get back in.

[John Anthony]

Great advice for everyone. If you stayed in to this point - your in now! The only good road back is in the market (stocks).

 

It will likely take two years to "recover". And if the volatility keeps up it may feel bad. But if you were in stocks in February and kept them there. Its best to not look at your statements until there is some recovery. Do not bail at the bottom.

 

If you did move out of stocks in your 401K then the question will be when to get back in.

 

Many millionaires are made during stock crashes. Buying the dip is always the advice you hear. Back to back green closes would be nice.

 

Once it crosses 21k we should start paying attention and see where it goes from there. Still a lot of uncertainty.