Not trying to make a tread for specific financial advice as much as I'm am curious about what people are doing or considering doing with their current investments.
I for one am thinking about cashing out a 401k I have. I'm not currently contributing because I'm between careers as a result of moving my family out of the pits of hell (westtern WA Seattle area). As part of the move we faired very well taking advantage of the inflated housing market and are debt free so we can hold over while I find a new career.
Since the Friday banking fiasco, I have already lost 4k in my 401k! 3 friggin' days! Instead of watching my investment tank, I'd rather take the early withdrawal hit and hold cash and a fair amount of bullion.
I'm just a normal working man and really don't know much about investments. To me it seems right now it would be wiser to hold your assets in something tangible rather than watch my "money" on a computer screen rapidly disintegrate.
Holding mine in my 401k. It will eventually turn around, I’m not selling at a low price. I went thru the 2008 crash and it also did come back up. If you know it’s gonna crash and you sell before it goes down, you will do better than someone who sells after it crashes. One thing I read is you only lose money when you sell. If you have 100 shares and don’t sell, you still have 100 shares. It may bounce around and it may take awhile to recover. Selling now will also give you more taxes.
And that's what we did post 2008. I know none of us have a crystal ball but after the past few years I'm not so sure the stock market as we [think we]] know it will recover similarly as the past downturns..
Fren, where did you learn about this secret Fed meeting?
3/12/23 SVB fallout: Fed calls emergency meeting tomorrow https://www.livemint.com/news/world/svb-fallout-fed-calls-emergency-meeting-on-monday-11678593550469.html