Investment BS Thread - Stocks/Futures/Mutual Funds/Bonds/Commodities/Options/ETFs/401ks/Etc

The shale industry just drove off a cliff. We're already starting to see hundreds of layoffs in the last week. The trickle down affect will now begin > less oil field work > less industrial goods bought > more lay offs coming in other industries.

 

Seriously this has made me re-evaluate my personal plans. While I have 3 accounts (pension, 457B and fuckaround) the pension and 457B are retirement based, fuckarouds are targeted towards growth and no more than 50% at any given time can go to house, boats, other things. Never thought about Apocalypse supplies. Because all the investment planning is assuming that society continues on, anticipate the up and down and deal with it.

In the grand scheme this isn’t bad at all our supply lines and production are fully intact. Minor issues compared to War, Solar flares, High altitude nukes, ECT. But after prices die down I will buy a pallet or 2 of shelf life food. Honestly cheap peace of mind over the decades it is good for. I mean I would give up a month of interest at its peak for some more soul comfort for the next 30 years.

 

I'm slowly working my way back up. I think I was down around 27% at the low point and now I'm only down 18%. I haven't touched anything and don't have any plans to. I'm tempted to buy some more for my Roth IRA with the prices as low as they are, but I think holding onto cash right now for any potential emergencies is a better idea. I stopped working 4-1/2 years ago but I'm not old enough to touch any retirement money without paying the extra 10% penalty so I need to use my savings wisely. I did start buying pick 3 lottery tickets 4 weeks ago and my number just hit today! I almost didn't buy the tickets Monday because the food store was so crowded with panicked people.

 

there’s not a section of the us where you shouldn’t be prepared for a week. New England blizzards. South east hurricanes. Mid west blizzards and random minus 60 degree days. Southwest earthquakes. South hurricanes and tornados.

I think this little event has kind of awoken that in me too. I don’t want to be a prepper. If it reaches that level I’ll deal with it then. But for a week or two we should be able to bunker down.

And you make a good point. As soon as the light turns green we’re back up and running. Our infrastructure is not harmed. Just the stocks/supermarkets (I use that term in the manufacturing sense).

interesting spot to be in. If you were retired I’d say hold as is and just spend as you expected to. Don’t change your plans now. But you aren’t retired yet, and there’s no risk of a layoff. Really it’s flip a coin. Heads invest tails don’t. Or whatever.

 

I just quit my job and need to roll my 401k into an ira....should I hold out a few more weeks to do it? I believe I have 60 days to do it.

 

Are you sure you need to roll it? I still have a chunk in my 401K from the company I left 4-1/2 years ago. I've rolled most of it into an IRA and slowly rolling more into a Roth IRA. Moving it to an IRA will give you more options to choose from vs the 401K. My company has the 401K with Fidelity so I opened the IRA and Roth IRA with Fidelity and did direct rollover. If you take the 401K money as cash, yes, you have 60 days to reinvest it in an IRA. But if you do that, ask your old company if they are going to take any taxes out by default. Some companies will hold 20% assuming you are not reinvesting it. Ask about a direct rollover so no taxes get taken out. But you shouldn't have to take anything out of the 401K unless they have some policy about it. I would ask to make sure you know what you need to do.

 

If you're interested, you could do what I did and roll it over into a self directed, qualified IRA at Webull. It will be just cash when you roll it over and you can buy or sell stocks without any fees however you want. ETFs if you'd rather play it like mutual funds. I believe they'll even reimburse you for any transfer fees. They did for me. You'll get a free stock or 2 as well.
Webull
Make sure you open an IRA to roll the 401k in to. You can have an individual account too. I have both.

 

I'm in Canada, Vancouver Specifically, we're seeing some of what was happening in Seattle now. In the physical sense, yes the infrastructure will still be there. But the actual WILL of many will be broken. It wont be green light as normal, it will be a flashing RED. With small business closures projected somewhere around 20%, at least thats what they're saying for my region. That's a shit ton of jobless people.

I think that what were sitting on now, no one has seen for 90 years. And even then, the world is so different now It would be irresponsible to say that everything will go back to normal. There will be a new normal, but it will be nothing like what were used to, not for a couple years. (Fingers crossed sooner)

 

A lot of these 401k’s have management fees they charge you if nothing is being added to it anymore. Wife had a couple that she rolled into her IRA because of this.

 

My company pays the management fees on my 401k. If and when I leave, I'm definitely rolling that into an IRA.

 

yeah I mean this will have a lasting effect but overall the infrastructure is still there and the workforce is still there. The demand has lowered. It’ll be a long up swing but we’ll get there. It’s not like there was a natural disaster which wiped out the infrastructure we now need to rebuild.




In other news.
https://www.cnbc.com/2020/03/20/who-officials-say-at-least-20-coronavirus-vaccines-are-in-development-in-global-race-for-cure.html

So basically it’s a gamble who to put your investment in. Whoever gets there first will skyrocket but no way of knowing now who will be the one.

 

I was able to scrape together another 5K to dump into my brokerage account....and I rushed to buy 3K worth of Boeing stocks at $104.34

2K left .... thinking of buying more now that they are below $100

 

Boeing just suspended its dividend. You’ll have to be patient with that one, but I’m sure it will make a comeback.

 

Yea long term I'm thinking

 

Yea I think when this blows over itll pickup quick, but itll put a dent in consumer demand for at least a year or two after and take a good long while until we get back up to ath again.
I see alot of big and small businesses are getting caught with pants on the ground in just 2 weeks, imagine how many can endure 2 months. Then think about supply chain issues, commercial real estate taking a big hit also, if some places, especially small businesses, close down but dont have enough money left to reopen.

 

https://www.cnbc.com/2020/03/20/gol...2nd-quarter-gdp-contracting-by-24percent.html

 

Current U.S. numbers (deaths divided by confirmed cases) show a 1% death rate. There are surely many more cases, so way below that death rate. This seems like good news.

 

Anyone have idea if I will be able to contribute to my 2019 Roth until July 15 since tax deadline was moved? Still got about a grand left to max it out at $6500. Not that big of a deal but am trying to budget and still contribute. Not sure on rules/ laws.

 

from what I’ve read, no. Although last I looked it was when they had extended the tax payment deadline and not the tax filing deadline. If they’ve extended the filing deadline that may change. But about a week ago they extended the payments deadline but not the filing deadline. So the 2019 tax year would have been closed out as normal for Roth.

 

Yeah, but the economy is paying a heavy toll thus far and there's ramblings of a countrywide lockdown vs. the current piece meal programs. If the country was restricted for two weeks it may be just enough to make 2008 look like a joke.