Here we are in a new week of IT…the Coronavirus. So, this weekend we learned the following
- Italy is pretty much closed
- There is a cruise ship docking near Oakland with 3700 people, at least 700 infected (aka, a floating petri dish)
- The number of U.S. infections grew exponentially over the weekend
- IT has prompted an oil war with prices dropping to $30 a barrel
- People are stocking up on non-perishable items and preparing to work from home if needed
- AND…all of your retirement saving have PLUMMETED…so don’t think about retiring soon
Yes, I am still hanging on to a tiny thread of hope that I can fly to Iowa in April, Texas in May, and London in June. Hope they pop up with a vaccination soon! Anyhow, the stock thing is interesting, but depressing. I am purposefully not going to check my 401 numbers until they get a handle on this thing. There would be one reason to though…BUY some stock.
As the big money investors will tell you, just hang on, because it’s going to be a bumpy ride. Of course things were climbing way too well for a few years, chugging up the ladder of numbers everyday and making us feel too secure. Things have to come down after they go up; it works that way. Eventually over time, a gradual increase is seen from a further perspective. Stay in your position and consider what to add to your collection of investments.
I am not a financial advisor. As a matter of fact, I read and learned a lot from my partner only after starting over at the age of 46 from my divorce. I have to say that if you read enough and have enough good advice, you will be able to save and see progress. I have set a goal each year and been able to reach it. Until now……
This is going to take me back a ways and I will just have to suck it up. But then, so will everyone else. I’m sure even Warren Buffett with 82 billion will have a loss right now. How can it be avoided? I guess what I am saying is we have to into a “hibernation” mind set. Nothing is going to go forward until we can eliminate, or at least control, IT.
Here’s some additional info from this morning: https://www.nj.com/coronavirus/2020/03/stocks-set-to-plunge-as-coronavirus-fears-continue-what-about-your-401k.html
This will be a test of humanity on a grand scale. Will we be able to unite and defeat IT? Can we stop squabbling and putting our own petty interests behind us for awhile? Hang in there folks, I think it’s going to get worse before it gets better. Wash those hands and stay at home if you can. Love and peace, Deb