Instead of everyone panic selling on 10/31 why not let your money ride and making more money.Rock on! Stash it away! Cash out on 10/31. Of course you can also bet on the fall?
Makes sense. Maybe cashing it all in is not a good idea? However, hedging a bet on the election results with Monet you can burn isn’t too bad either. But don’t ask me. If I’m buying, you should be selling because it (whatever “it” is) will never be higher. And the obverse is also true!Instead of everyone panic selling on 10/31 why not let your money ride and making more money.
A side note I find hilarious; my wife works in the financial industry and used to work for Oppenheimer funds until they were closed down by the company that bought them.
Anyway she used to tell me stories about how people would pull their money out of retirement plans the first chance they got. Some people only had $50.00 in the plan and would tell my wife "I'm putting it to (the man) by pulling my money out of their control.
There were people who would try multiple times to get money once they have emptied their account and could not understand why they could not have more money.
Then there was the story about the old lady who's ol' man had been dipping in to her account and emptied it then left her for a younger hottie. When the old lady went to retire she was penniless. She was filing a lawsuit against her ex who is now in Florida broke, penniless and divorced again.
Everybody needs to calm down let it ride and make money. If you pull your money out you will cause two things to happen. 1. Potentially start a run on the market undoing all we have accomplished during Trumps administration and 2. You LOCK in your losses from the covid panic sell never will you have the chance to get that money back.
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Talk to your financial advisor/ planner/banker. This whole mess really has rhyme and reason. I dont quite understand it either. My wife does though. That's her job. My job is take care of her and the honey do list.Market is great, representing future expectations and stimulus? But prior to COVID it was our longest period of growth in our history. I get why some businesses are killing it like ecommerce and communication but others don't make sense to me.