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Started By
Message
Entering The Market With $2,000. What to do?
Posted on 3/16/20 at 8:41 am
Posted on 3/16/20 at 8:41 am
So this is independent of my 401k (which was at $55,000 and has dropped $10,000 this year to $45,000).
About half my 401k was in cash so I'm waiting to buy stock in my company as well as various Retirement Date Funds and Index Funds.
But besides my 401k I have $2,000 in cash that I could probably use in the market right now. I've been waiting for a market correction to finally hit. I know I couldn't use $2,000 to buy very expensive stocks but what would you do? What lower priced stocks would you look at?
About half my 401k was in cash so I'm waiting to buy stock in my company as well as various Retirement Date Funds and Index Funds.
But besides my 401k I have $2,000 in cash that I could probably use in the market right now. I've been waiting for a market correction to finally hit. I know I couldn't use $2,000 to buy very expensive stocks but what would you do? What lower priced stocks would you look at?
13
Posted on 3/16/20 at 8:43 am to OceanTiger1
Posted on 3/16/20 at 8:43 am to OceanTiger1
better hold onto that. looks like more pain on the way until this virus thing gets under control.
Posted on 3/16/20 at 8:43 am to OceanTiger1
quote:Unless you get a damn good discount, I'd carefully examine this. You're already plenty invested in your company (that's your source of income), so I'd want to diversify. Just something to think about.
so I'm waiting to buy stock in my company
Posted on 3/16/20 at 8:44 am to OceanTiger1
Wait
Posted on 3/16/20 at 8:45 am to FLObserver
Oh I'm not entering right now, but I'm trying to prepare now. Once we get to what seems like a bottom what would be some good strategies?
Also, my 401k is with Fidelity. What brokerage company/trading platforms would you all recommend using?
Also, my 401k is with Fidelity. What brokerage company/trading platforms would you all recommend using?
Posted on 3/16/20 at 8:46 am to OceanTiger1
Better to go put it on red/black at the casino
Posted on 3/16/20 at 8:47 am to castorinho
quote:
Unless you get a damn good discount, I'd carefully examine this. You're already plenty invested in your company (that's your source of income), so I'd want to diversify. Just something to think about.
Right now yes I'm getting a very good discount on the stock.
As part of my 401k my only options are company stock, passive index funds, actively managed funs, retirement date blended funds and cash.
I work for a large company that has taken a big hit and I'm confident it'll get back up to its former price by the end of the year assuming all this virus stuff is contained by the summer. The way I look at it I'm getting in at a significant discount and building a long term position.
Posted on 3/16/20 at 8:52 am to OceanTiger1
quote:not discount in term of market being down, discount as in you get a certain percentage off up to a certain percentage.
Right now yes I'm getting a very good discount on the stock.
quote:and that's great. The reward is you keep your job, benefits etc.
I work for a large company that has taken a big hit and I'm confident it'll get back up to its former price by the end of the year
Posted on 3/16/20 at 8:55 am to OceanTiger1
Dollar cost average? A safer thing to do putting a portion in every week. Lower your cost basis if it keeps going down, and you won't completely miss the recovery spike.
Posted on 3/16/20 at 8:57 am to KamaCausey_LSU
quote:
Dollar cost average? A safer thing to do putting a portion in every week. Lower your cost basis if it keeps going down, and you won't completely miss the recovery spike.
I agree. What stocks do you think I should be looking at? I'm guessing a lot of consumer staple companies?
Posted on 3/16/20 at 8:59 am to OceanTiger1
WAIT A MONTH DUDE please do not listen to the dollar cost avg jokesters. they're going broke right before our very eyes
if you need further advice ask @upperdecker
if you need further advice ask @upperdecker
Posted on 3/16/20 at 9:03 am to Mr Perfect
quote:
WAIT A MONTH DUDE please do not listen to the dollar cost avg jokesters. they're going broke right before our very eyes
if you need further advice ask @upperdecker
Yes with the CDC essentially wanting to shut down the U.S. economy for 8 weeks I think it'll be awhile before we see the bottom.
What companies are you keeping a close eye on? What trading platform/brokerage company do you recommend using?
Posted on 3/16/20 at 9:09 am to OceanTiger1
quote:Mr Perfect was born after 2000, FYI.
What companies are you keeping a close eye on? What trading platform/brokerage company do you recommend using?
Posted on 3/16/20 at 9:09 am to OceanTiger1
By SPY
Posted on 3/16/20 at 9:20 am to TigerDeBaiter
By or bye? Or buy?
Posted on 3/16/20 at 9:22 am to OceanTiger1
Pick two stocks $500 each
Invest $1,000 in VTI, VYM, or QQQ. Whatever suites you.
Invest $1,000 in VTI, VYM, or QQQ. Whatever suites you.
Posted on 3/16/20 at 9:40 am to KamaCausey_LSU
quote:
Dollar cost average? A safer thing to do putting a portion in every week. Lower your cost basis if it keeps going down, and you won't completely miss the recovery spike.
Just did this to my one stock that is tanking in this market. Will wait another few weeks probably before buying more though.
This post was edited on 3/16/20 at 9:42 am
Posted on 3/16/20 at 9:45 am to FLObserver
quote:
better hold onto that. looks like more pain on the way until this virus thing gets under control.
Lots of people saw the market down and hopped in. Now that the market is still going down I wonder how much pain they can stomach before getting back out. I just don’t get the sense that everyone has panicked. If the market tests December 2018 lows and goes down from there could we start seeing real capitulation?
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