Called my investment manager and told him I wanted to sell all my stocks, was willing to pay the capital gains on the few that I would have to. He advised against it and said I should exercise "extreme patience". So, I fired him and did it anyway. I'm not much of a gambler. I'm out. Sigh.
That is what Trump wants. If everyone sells out, the market bottoms out and that is when he will call martial law and tear up the constitution.
I did the same thing in March 2020.
This just sucks -I’m sorry that you’re being put thru this
Do what you need to do.
I have a 401K. Didn’t pull funds but stopped adding any.
But its better to buy low. This seems backwards to me. I was advised to wait a minute before making my roth contribution this year when I met with my guy in January. Because of the pending regime change and uncertainty. You're not just putting $ in an account, you're buying shares
You are not my financial advisor and your “advice” is not welcome.
Wow a bit harsh much? Then maybe don't share your opinions if you don't want conversation on *social* media 🤷♀️
I didn’t share an opinion. I shared a fact. That is what I did. You shared an opinion and it was not welcome. Now take your hurt feelings and go bother someone else.
Oh my feelings aren't hurt but thanks for your concern
At least the actual cash is there. Later it won't be.
Bad move, guy. Especially if you’re still working
I switched my 401k to cash at the beginning of March. Feeling good
Me too
Please don’t post that on social media!
I've been all in cash since trump took over. It's staying there until he quits manipulating the markets.
Good for you. Fortunately I’m only holding telecom stock which seems to be surviving. So far! As a safe haven in recessionary times!
I get it. I'm a risk taker but not a gambler. The difference is significant.
I think this should be just your first step. He’s not gonna stop at crashing the stock market — theyll threaten to end the FDIC. FDIC maintains *less than 2%* of the value of deposits in their fund. You’d be wise to move savings overseas to a currency orher than the $ and insured by a stable govt.
We got out weeks ago, we are retired and cannot afford to lose it all, its all we have.
I got out a month ago after being told the same thing. Smarter to let your clients do what they want with THEIR money than to try to convince them to stay. Short sighted because now you'll find someone else to assist when you decide to reinvest. Sleeping at night is important.
After he was elected, mine said trump has some policies that should be good for the economy, don't worry. I feel like I should give him a call tomorrow and ask if this is one of them.
You absolutely should!
he'll get back to you in 24-48 hours i'm sure
To play Devils Advocate how long do you have to retirement? I undestined the move, but if you are still 10+ yrs out it will eventually come back.
*understand
And guess what? Buy low. Sell high. When the Dow hit 6,000 in the last Republican Recession, i doubled by 403b contribution. The thing rebounded pretty quickly and here we are.
If you under 50 you have time to wait out Trump. If you are over 50, you did right thing. Find a safe haven for your money and prepare for the worst.
I did that last big crash. No regrets _at all_! There are other ways to invest. And imo the stock market is a nasty, immoral place.
Nope. You just have to hold on for four years. until then the losses are only on paper.
Every time we have a republican president, I move my 401k into the g fund. Under president Biden and build back better my 401k went up $60000. So far the g fund has not gone into the negative. I'm afraid to look, hopefully my meager retirement is still there. www.narfe.org/tsp-funds/
we just cashed ours in 2 weeks ago anticipating that this could happen, lost a lot but not as much as we would have today.
I just checked, its lost half its value, we sold at $17. when it went down from $23. it is now 12 and falling.
to be clear, we are not rich, hubs earned stock in the business he worked at until he retired, it was a yearly income but we took it all out and paid hefty taxes but even that is better than losing it altogether in a crash, its going to crash. He will kill us all if we let him.
I did the same.
I think the only remaining thing for you to do is put your money into your mattress. I did look into it. A friend recommended a fireproof safe. I dunno. Mattress seems fitting.
As long as serious inflation doesn't come in. Your money under the mattress buys less.
Another thought. If you have savings you might be better off prepaying some of your bills. Safer too, it can't get stolen.
Sorry to say, he was right. Buy low, sell high. Wait until low becomes high. And I'm 70 years old with Social Security in question.
Buy low, jump off a high bridge. It's the 1920s all over again.
You don't know that. Nobody knows what will happen. I hope you go to a nearby protest on Saturday. We need you.
Oh shit. I was thinking about that too. I didn’t have the guts to do it but now that I see others selling, I’m going to sell tomorrow.
In December, I moved my retirement account from a money market fund with Fidelity to an IRA CD with my local credit union. 👍
I sold all my US stocks the beginning of February. Still have my CAD stocks though.
I pulled mutual funds today Upset I listened to banker back in February
I put a fair amount into cash when musk started destroying the government. I’m holding tight on the remainder. It’s going to be a long four years. And we’ll be lucky as hell if it’s only four years.
buy gold or land.
Did this too.
He is right. You need patience.
I sold in November just like Warren Buffet
I got out of my riskiest positions in my retirement account a week ago and I'm glad I did. What I have left is getting pummeled. No retirement for me for a long, long time.
I got hit in the 2008...this seems like it could be worse, but what do I know? Only that the 🍊💩 is a pathological liar and fails miserably at everything he touches ...you'll thank yourself later, regardless IMHO
The indicators are that this will be worse than 2008. Of course since 2008 we've gone with the little voices.
This is what our financial advisor told us in 2008. We all know how THAT turned out! They’re not interested in YOUR welfare, only their commissions.
You're still way ahead probably.
smart.
Consider a guaranteed fixed annuity for 3 years so you can ride out Trump but continue to make some interest on your capital.
My husband who is a retirement planning specialist says one annuity company has a guaranteed fixed annuity for 5 years that offers 6.05%, one of the highest rates in the last 20 years.
That's a great rate. I just didn't want to lock in for that long. I hope Dems will take back the White House and grow the economy in 2028
Or an IUL, Indexed Universal Life and dump all your cash into it.
We're going to buy land away from the ranch for hay production. Land rarely loses value, hay is always in demand and it'll mitigate our fire risk since it's a different location from our existing hay fields near the ranch. There's some headaches (storage/theft), but I think best option.
They aren't making more land. Solid investment. We also bought some small houses after 08 which turned out to be our best investment.
You are young aren’t you? When Ag fell apart in the mid 80s land prices fell and outside investors swooped in.
I can't image land prices falling these days, especially in Oklahoma. We got every dope head in the country trying to buy rural lands just to build a steel building in the middle of 500 acres to grow weed. It's driven prices up.
We didn’t think it could happen in 1984 either. We lost export markets and suddenly famers were close to 50% leveraged and banks started failing as reducing lending.
Jeez. If I were going to grow legal weed, I'd want to be close to my city. Not going to happen right now, but I have dreams of a pot-laden pastry shop.
They always say that when you call them. They say you’re being emotional but I think I’m being logical for seeing what’s coming in the future.
Brother, did exactly this last week.
Why would you sell AFTER the market crashed? The right time to sell would have been a month ago, or even a week ago. I sold off about half my stocks on February 7, and I actually bought some back yesterday after the close. I probably should have waited until next week, but I got impatient.
Ha! This was not a crash. The real crash is yet to come, and you have no clue how bad it’s going to be… Did you hang onto Gamestop shares forever too? Getting out now is not too late; it’ll be just in time!
I never owned Gamestop shares. I don't buy individual stocks. I only buy index funds. If the real crash comes and it's as bad as you say (and you may be right), then it really won't matter what you or I invest in. Probably the only safe investment right now is real estate.
- Gold, cause inflations gonna eat money. Market crash gonna eat the banks. - hen+cow cause its gonna get really bad - AR15 cause it's gonna get even worse. An old Bradley could be of help... ...and I'm not sure if I'm joking...
I bought 2000 rounds of ammo in February
I thought about this. You're keeping the money you have now. Because realistically you could lose it all. It's going to get that bad.
I got out of my mutual funds 6 weeks ago. Best move.
I called my 401k people in early February and told them to move me out of stocks and bonds. They didn't same thing and argued with me. Never argue with a woman with an anxiety disorder.
Elliot Wave analysts are calling for an extended multiyear bear market. If you think you might need the money, I personally think it is better to be on the sidelines in cash than losing $ - Piece of mind is priceless. There will always be something new to buy or buy back when the dust settles
90% out since end of December. Most everything in laddered CD’s. Even the 10% in is giving me anxiety. This is not “normal times” and what goes down may not come up again, at least for a very long time.
He’s paid to tell you to stay in the market. But if selling helps you preserve your capital and sleep better at night, it was the right thing to do. You can get back in when sanity returns to Washington.
Probably the worse possible time to sell, but you do you.
You know who made a killing on his investment, this guy.
My husband wouldn't listen to me. I'm afraid retirement will have to be postponed.🙄 At least my eldest listened. She's got a bit of "play money" from the grands to try her hand at stocks but cashed out.
"buy low sell high"
The stock market should not exist. Period.
I've been saying this for years! Nice to hear another. People have argued to me that it is needed in order to raise capital for businesses. There has got to be a better way than this legalized gambling and easily manipulated backroom deal crap. The richest 10% own 93% of the stocks.
I am not fond of data brokers either. I demand to be paid for each and every ounce of data that is collected from me. And get rid of the shell companies. We don't know who owns America anymore. Everything is artificial anymore and I believe that has limits. Artificial economies are foolish
Ayyyyyyy
Lmao, nice
👏🏽👏🏽👏🏽
Why didn’t you see this coming a long time ago? Where everything was headed was always as clear as day.
I moved things around after one week of this new regime. I saw the writing on the wall.
Smart move. I actually did that last September in anticipation of rioting MAGA voters after Trump would lose. A little early, perhaps, but I’m still glad I did it for sure.
I mean if you look at Dow Jones and SandP, the yearly gain is almost in the negative….smh
He was right.
So you bought high and sold low? That's a bold move Cotton.
that’s how recessions are caused. Economics 101. small swings are speculators. Big firms temper swings by not selling if clients are patient. But if clients force sale, the firms spiral stock prices lower which causes recession. tl;dr thanks for fear mongering and being part of the problem
Humbug, when you have someone able to tank the economy Pull stocks, when it goes as low as it can go, go ahead start buying blue chips when still low
You're welcome. I saved a LOT of money yesterday! You're very, very welcome!
I mean, tout the power of individuals to organize and be a powerful force to combat change… But if it affects your personal wealth, screw everyone else. Tell everyone else to fight while you run. Cool.
Completely not his fault. None of us caused this. Put the blame squarely where it belongs. On Trump and everyone who enables him and who voted for him! It is entirely his fault. Not the people with no power who are just trying to protect themselves when they shouldn’t need to do so!
Sorry but no. That might be true for the economy but it’s not true for the stock market.
Depending on one's age, there's no time to "settle in for the long haul." Never mind that we've lost faith and trust in the system. Econ 101 is bullshit.
Argentina Economics 101
‘The long run is a misleading guide to current affairs. In the long run we are all dead,’ ~ John Maynard Keynes (1923) I would argue that “Econ 101” is alive and well… half-witted profs & TAs, and dimly lit students are the fault.
lol, good luck
We got out on February 21 & I’m feeling very grateful.
Qqq
We had our financial agent move our funds to low risk bonds and cd. He said, don’t panic, the stock market will come back it always does. I told him, we aren’t taking any chances with crazy Trump in the Oval Office.
If the dollar tanks, being locked into CDs might not be a good position. But we need to pick our poisons right now. The USD, physical gold, ... Bonds can be a minefield, even munis, depending on the gradients in the economies.
I know, we’re doing this as a short term thing to see what happens.
All we can is wish the rest of us the best of luck. Things are crazy and won't get less crazy.
Ditto on the "fired him and did it anyway."
Way to call your own shots!
I pulled mine out just before shit got bad a few weeks back. I was told "stocks aren't effected when a new president is elected." Then a breath later "since the election the stock market has seen gains" like lol okay bro. Glad you got out.
Wife and I got out last month. FP said we would regret it and he could not recommend it. We said that’s OK. We got out and haven’t regretted it.
Good move. I sold all mine today, too.
I had advisors who talked me into a product that was guaranteed no or limited down side but with a lower return rate two years ago. It paid 5% less than the market and I kicked myself for such a conservative mood. Today I am feeling like the smartest person on earth
Is it time to cancel Amazon Prime considering what Bezos has done to the Washington Post, and his continuing sucking up to the Orange Liar?
i have switched to walmart+ and am very satisfied. free delivery over $35, paramount+ included and they deliver in a 2hr time frame. IF there's a wally world in your vicinity. $12.50/month, store prices, well-stocked so far. watch out for non-W sellers, though. just like amazon. untrustworthy.
Definitely considering it myself.
As a Canadian, my answer to this is yes
Many years ago hubby and I found ourselves in a position to move to a smaller house and pay the capital gains owed. We also had to get rid of retirement accounts and pay the penalty. We went without insurance for months. We survived to thrive another day. I 🙏🏻 you do too by protecting you & yours. 🩷
We pulled what was left of an annuity out in 2024. We had lost half the kid's investment funds for their college in 2008 (they started college in 2009...thanks GWB). We talked about it and decided if Harris won We would reinvest it...if not at least it was safe. Go you!! Good decision.
P.S. In 2008 we were told the market would rebound and to leave the kids funds intact. We lost half in two weeks necessitating student loans for the kids. Go with gutt instinct. This is worse than 2008. If the market rebounds the funds can be reinvested.
I’m too old for this much patience.
right? By the time it rebounds (IF the world is still around), I will be dead.
May have to wait it out four years this time.
He’s openly pushing third term rhetoric and blithely ignoring rule of law already, we have to assume this is gonna be ongoing for longer than just four years.
My whole 401k is in savings. A long time.
I moved a bunch of my 401k out of stock and into a CD a couple of weeks ago. Been worried that I overreacted. Today, I know I did the right thing.
Moved 90% of my TSP from L2035 to G fund this morning. This will be effective at noon. I will return to L2035 if things settle. May tranfer to another service soon. I also decided to pay back a big chunk of my TSP loan last Sunday. That should be complete on Monday. We're these stupid decisions?
I always move my tsp to the G fund under republicans. I'm definitely not a finance person but I think paying the loan off is ok, especially if you protected it in G. If you are separated, I believe the loan would be due regardless. www.narfe.org/tsp-funds/
Hubby said noooooo!
Yep, glad I listened...but wait, the crazy is not likely over!!!
Yeah 2008, those of us who lived through that know that waiting is not good. None of us have 10 years to recover what we’re losing now even if 10 years would suffice.
we waited. We lost but in all actuality, our waiting paid off. It went back up and went way up with Biden.
Would suggest investing money in Rheinmetall. It's the German company that's going to rearm Europe. I don't know how to do that (and am broke), but if I had $ I'd find out how to do that and buy some stock.
The investment people I talked to are more interested in avoiding taxes than truly investing with conscience. I own land now. 🤷🏽♀️