In all seriousness are there any financial advisors on here willing to help us out and give basic advice on how to protect our stock market right now? My advisor is saying ride it out. I’m not willing to let my money disappear like 2008. I’ll move it to cash if I have to. - ThreadSky

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bluebird-chick.bsky.social • 80 days ago

In all seriousness are there any financial advisors on here willing to help us out and give basic advice on how to protect our stock market right now? My advisor is saying ride it out. I’m not willing to let my money disappear like 2008. I’ll move it to cash if I have to.

Comments

iivvi.bsky.social•80 days ago

Probably too late to hedge at this point - advisor is right. Generally if you are not invested at the bottom, you will not enjoy the gains on rebound. It’s painful I know, but we are not going to zero. :)

bluebird-chick.bsky.social•80 days ago

I need a redline though. I lost $24,000 so far. I want to set myself a limit because in 2008 I didn’t and lost pretty much all of my IRA fund.

iivvi.bsky.social•80 days ago

Believe me I hear you. That red line will sink you in the long run. What’s your time horizon? I’m 59 yo and consider my time horizon in two chunks- 8 years to withdrawals, then 30 years. Time is your friend if you’ve got it.

bluebird-chick.bsky.social•79 days ago

I’m about the same age as you are so about 10 yrs to work and contribute to 401k

iivvi.bsky.social•79 days ago

Okay this is good. By regularly adding to your 401k, especially during times like these, you buy more shares when the market falls. This will have a positive compounding effect when the tide turns up. And it will before you’re ready to retire.

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