Dow tumbles more than 800 points. How ugly will this get?

[JSt0rm]

just dropped it to 1% from 10% till its over. I wont sell what I have but no more goes in.

and ill just buy buy buy when it drops to 2009 levels.

 

[Jhhnn]

I hope everyone is prepared. I am prepped with 2 years of expenditures in cash. Im going to also stop my 401k until this volatility passes.

Most American families can't come up with $400 in cash to cover an emergency. Figure it out from there. I'm mostly lucky to be better off.

Predatory capitalism goes for the weakest members of the herd first but everybody is ultimately on the menu.

 

[JSt0rm]

Most American families can't come up with $400 in cash to cover an emergency. Figure it out from there. I'm mostly lucky to be better off.

Predatory capitalism goes for the weakest members of the herd first but everybody is ultimately on the menu.

Well sucks for them. They should of voted better.

 

[Homerboy]

Well sucks for them. They should of voted better.

that's not exactly how it works...

 

[ivwshane]

Now admittedly I am no export on this stuff but my plan is dump a ton of money into my 401k and IRA when shit goes down.

The question I have is how should I do this? Am I correct that 401k's have a 15k yearly contribution limit? What about IRA's? Should I also change my plan focus to be more stock heavy than it is now?

Because I believe investing in any one particular stock as risky, what about investing in an index fund? Does anyone have any recommendations of which index fund or who to trade through?


A little off topic I know

 

[JSt0rm]

Now admittedly I am no export on this stuff but my plan is dump a ton of money into my 401k and IRA when shit goes down.

The question I have is how should I do this? Am I correct that 401k's have a 15k yearly contribution limit? What about IRA's? Should I also change my plan focus to be more stock heavy than it is now?

Because I believe investing in any one particular stock as risky, what about investing in an index fund? Does anyone have any recommendations of which index fund or who to trade through?


A little off topic I know

I have a 19k limit on my 401k.

Use vanguard for index funds.


as for how you should invest your money dont listen to anyone on a web forum.

 

[MomentsofSanity]

Now admittedly I am no export on this stuff but my plan is dump a ton of money into my 401k and IRA when shit goes down.

The question I have is how should I do this? Am I correct that 401k's have a 15k yearly contribution limit? What about IRA's? Should I also change my plan focus to be more stock heavy than it is now?

Because I believe investing in any one particular stock as risky, what about investing in an index fund? Does anyone have any recommendations of which index fund or who to trade through?


A little off topic I know

IRA is a set limit. 401K depends on income. Deductability in your regular IRA depends on your 401K and your income.

Edit: don't read that last part. not income dependent for 401K. I drank my lunch what do you want from me?

 

[ivwshane]

Good info guys! You don't know what you don't know. Now I know a little more

 

[MomentsofSanity]

Good info guys! You don't know what you don't know. Now I know a little more

Roth IRA is the way to go if your income allows it. If you're not eligible for deduction in an IRA and you don't have deducted funds in the Trad IRA already then a backdoor contribution might be an option for the Roth if the income is too high. Just be careful of the Pro Rata rule.

 

[JSt0rm]

IRA is a set limit. 401K depends on income. Deductability in your regular IRA depends on your 401K.

401k depends on income? How does it calculate? I have income from multiple sources and a 401k at only 1 place.

 

[artvscommerce]

+1 on vanguard for index funds.

I believe the Roth IRA contribution limit is $5,500 per year.

 

[MomentsofSanity]

401k depends on income? How does it calculate? I have income from multiple sources and a 401k at only 1 place.

Brain fart on my part. Been removed from US accounts for 2 years now. 401K is age dependent. You can get a top up once you hit 50. Forget I said that part.

Sorry for the confusion.

 

[woolfe9998]

Our retirement accounts where transferred from 410K to IRA three weeks. There was a week where it was all in cash, then we decided to leave it there for now. Bottom line, we were out for the crash. Pure dumb luck.

 

[JSt0rm]

Our retirement accounts where transferred from 410K to IRA three weeks. There was a week where it was all in cash, then we decided to leave it there for now. Bottom line, we were out for the crash. Pure dumb luck.

nice. Hold that shit till it hits like 2014 levels or something.

 

[Bitek]

just dropped it to 1% from 10% till its over. I wont sell what I have but no more goes in.

and ill just buy buy buy when it drops to 2009 levels.

Can you not direct it into a cash equivalent fund?

 

[JSt0rm]

Can you not direct it into a cash equivalent fund?

Yeah thats called my barclays 2.10% savings account.

 

[JSt0rm]

of course that interest rate will go to .1% becauase of trump.

 

[TheVrolok]

Another nice day for the market!

 

[Bitek]

Yeah thats called my barclays 2.10% savings account.

I mean within the same tax advantaged account. Otherwise you are just paying tax and saving it as regular income/savings unless I'm misunderstanding something.

 

[fleshconsumed]

just dropped it to 1% from 10% till its over. I wont sell what I have but no more goes in.

and ill just buy buy buy when it drops to 2009 levels.

I'm overgeneralizing, but you cannot back-contribute to your tax advantaged retirement accounts, certainly not in 401K.

This advice goes out to everybody - keep contributing to your 401K for the match and tax deductions. If you're convinced that large market drop is imminent keep contributing and simply direct your contributions into short term treasuries so that they won't lose value in a market crash. Then if you feel like the worst is over you can rebalance all the cash you've been collecting in your 401K accounts to stocks. I'm not actually advocating anybody trying to time the market, but whatever you do, just keep contributing into your 401Ks/IRAs/RothIRAs and do not take any money out in case of a crash.

 

[TheVrolok]

I'm overgeneralizing, but you cannot back-contribute to your tax advantaged retirement accounts, certainly not in 401K.

This advice goes out to everybody - keep contributing to your 401K for the match and tax deductions. If you're convinced that large market drop is imminent keep contributing and simply direct your contributions into short term treasuries so that they won't lose value in a market crash. Then if you feel like the worst is over you can rebalance all the cash you've been collecting in your 401K accounts to stocks. I'm not actually advocating anybody trying to time the market, but whatever you do, just keep contributing into your 401Ks/IRAs/RothIRAs and do not take any money out in case of a crash.

Good advice

 

[VRAMdemon]

Another nice day for the market!

Pretty soon we'll all be wearing pickle barrels and suspenders and fighting with alley cats over fish skeletons, but at least José and María won't be stealing those plum poultry processing plant jobs that Americans are clamoring for.

 

[kitkat22]

I doubt the Feds may have much ability to move on interest rates. Over the past decade, we have had essentially "free" money and for whatever reason inflation has been surprisingly low for much of that time. With all this free money and people moving money out of stocks, I am thinking inflation may finally catch up with us. That or the rich have basically held on to all that cash keeping it "out of the system." However, I see quite a disconnect with the markets and money supply. I think borrowing money is going to get pretty expensive very quickly coming up.

Of course, I am the world's expert on the subject...... /s

 

[JSt0rm]

ok ill shoot it into an account getting 1.5% via the 401k

 

[K1052]

https://twitter.com/x/status/1161774775020195840

lololooolloololllolllllll