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How much bloodletting is still left in this market correction?
Posted on 10/10/18 at 3:47 pm
Posted on 10/10/18 at 3:47 pm
Had parked most of our downpayment savings for our next home in VGT and VTI. I'm down $30K since Thursday. Wife is going to be mad when she logs into our Vanguard account and sees that I invested the money in VGT and VTI instead of leaving it in the money market account. What are the chances the market makes up the losses by the end of the year and I get away with it?
This post was edited on 10/10/18 at 4:23 pm
16
Posted on 10/10/18 at 3:52 pm to saintforlife1
Buy more and hope that it comes up so you can eventually come out ahead. That's all you can do at this point. If you move your money and you will definitely realize the losses.
Posted on 10/10/18 at 3:56 pm to Hammond Tiger Fan
Won’t happen by end of the year. Last quarter is never a money maker.
Posted on 10/10/18 at 4:07 pm to saintforlife1
When did you intend to use this down payment for a home? If less than AT LEAST 1 year, then for future reference you should know never to do this.
This post was edited on 10/10/18 at 4:17 pm
Posted on 10/10/18 at 4:18 pm to saintforlife1
Looks like you'll be going with 3.5% down now
Posted on 10/10/18 at 4:22 pm to Ingloriousbastard
quote:
When did you intend to use this down payment for a home? If less than AT LEAST 1 year, then for future reference you should know never to do this.
We were planning to buy before the summer of 2020. We were also open to getting one sooner if a good one came along and we really liked it.
Posted on 10/10/18 at 4:23 pm to saintforlife1
I think a lot. Chart looks turrible.
Posted on 10/10/18 at 4:30 pm to saintforlife1
Fair enough. I would’ve recommended keeping a bit more of that chunk in savings accounts. If you will ultimately buy in 2020 then I wouldn’t worry much. Those ETFs are going to go up and down a dozen more times between now and then.
Posted on 10/10/18 at 5:01 pm to tiger chaser
quote:
Won’t happen by end of the year. Last quarter is never a money maker.
Dude, just stop.
Posted on 10/10/18 at 5:10 pm to saintforlife1
Down $30K when the market has moved down about 6%?
Posted on 10/10/18 at 5:13 pm to saintforlife1
quote:Sounds like you knew this was a possibility and you still went for it.
We were planning to buy before the summer of 2020. We were also open to getting one sooner if a good one came along and we really liked it.
1.5-2% isn't sexy, but you shoukd have just settled for that in this case.
Posted on 10/10/18 at 5:19 pm to saintforlife1
Yikes
Posted on 10/10/18 at 5:46 pm to saintforlife1
Part of me wishes I had your balls. The rest of me knows that they'll be in your wife's purse for the foreseeable future.
If I were you, I'd be selling OTM calls with entry price as the strike for the down payment to try to get some of that money back. But if you aren't familiar with options, my advice is to figure out which piece of furniture in the living room is most comfortable for sleeping in.
Edit: While you'll probably be fine in the long run, your bigger problem will be the angry wife.
If I were you, I'd be selling OTM calls with entry price as the strike for the down payment to try to get some of that money back. But if you aren't familiar with options, my advice is to figure out which piece of furniture in the living room is most comfortable for sleeping in.
Edit: While you'll probably be fine in the long run, your bigger problem will be the angry wife.
This post was edited on 10/10/18 at 5:53 pm
Posted on 10/10/18 at 5:50 pm to saintforlife1
I’m actually not following the math here. In the past week VGI is down 8.36% and VTI is down 5.36%. Let’s say you went 50/50, that’s a 6.86% loss. $30k loss means you put in $437k total? Even if it was 100% in VGI that comes out to $358k. Do you live in San Francisco?
Posted on 10/10/18 at 6:18 pm to saintforlife1
Change your account password and let it ride.
Posted on 10/10/18 at 6:22 pm to lynxcat
quote:
Down $30K when the market has moved down about 6%?
That is a $500,000.00 down payment? Assuming a 6% loss.
30000=.06X
Posted on 10/10/18 at 8:18 pm to lynxcat
We have ~1500 shares of VGT and ~200 shares of VTI. VGT is down $18 and VTI is down $10 since Thursday. You do the math.
ETA: Okay with all recent losses offsetting the gains I've had in the past, looks like I'm at a net $15K in unrealized losses.
ETA: Okay with all recent losses offsetting the gains I've had in the past, looks like I'm at a net $15K in unrealized losses.
This post was edited on 10/10/18 at 8:56 pm
Posted on 10/10/18 at 8:24 pm to leoj
quote:
Do you live in San Francisco?
Yes. Both my wife and I work in tech. For the amount of money you have to save to come up with a 20% down payment for a home here, you can pay full cash for a much bigger home and live mortgage free in other parts of the country. But it's the choice we have made....for now.
Posted on 10/10/18 at 9:24 pm to saintforlife1
Guys, I want to take this thread on a different tangent. We owe a large tax bill next year due to capital gains from sellling stocks elsewhere. Is there anyway I can use part of the $15K loss from Vanguard to offset those gains?
Posted on 10/10/18 at 9:36 pm to saintforlife1
Google Tax loss harvesting.
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