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Message
Question about investment strategies with upcoming doom
Posted on 8/5/24 at 7:39 am
Posted on 8/5/24 at 7:39 am
With all the chicken little talk this morning- I have a question about my accounts.
I'm 41 and have 3 different accounts in the market.
1st is a Roth IRA- don't plan on doing anything with that.
2nd is a brokerage account. Heavily invested in VOO and VUG. North of 500k. If I sell it and go all cash, I'm looking at over $100k in taxable profits.
3rd is a UTMA account for my 2 kids. Going to pay for their college. Oldest is in 8th grade so the money won't be needed for at least 5 years. Mostly invested in bonds and some large blend funds. I have a money manager for this one, so I am relying on him to handle this part.
My main concern is my brokerage account. I don't need the money anytime soon (I hope) so am I okay to just ride it out? I have about $150k in a Money Market, so if emergency hits I can use those funds before having to break the brokerage piggy bank. Should I do anything to mitigate the upcoming months of pullback?
I'm 41 and have 3 different accounts in the market.
1st is a Roth IRA- don't plan on doing anything with that.
2nd is a brokerage account. Heavily invested in VOO and VUG. North of 500k. If I sell it and go all cash, I'm looking at over $100k in taxable profits.
3rd is a UTMA account for my 2 kids. Going to pay for their college. Oldest is in 8th grade so the money won't be needed for at least 5 years. Mostly invested in bonds and some large blend funds. I have a money manager for this one, so I am relying on him to handle this part.
My main concern is my brokerage account. I don't need the money anytime soon (I hope) so am I okay to just ride it out? I have about $150k in a Money Market, so if emergency hits I can use those funds before having to break the brokerage piggy bank. Should I do anything to mitigate the upcoming months of pullback?
6
Posted on 8/5/24 at 7:46 am to slinger1317
Just going to respond to everyone's hysteria the same way.
Time in the market beats timing the market.
Time in the market beats timing the market.
Posted on 8/5/24 at 7:46 am to slinger1317
Uh, markets falling back to where they were a few months (or even a year) ago =\= doom.
Posted on 8/5/24 at 7:56 am to slinger1317
Zoom out my dude. This is normal. It happens. I'm 38 and in a similar position as you, although my kids are much younger.
I would NOT want any sort of 5 - 6 figure tax hit right now.
Rather than panic, think about putting more money in to a stock or two you've been eyeing for months but felt like it was too expensive or had run too hard recently. It's a sale!
I would NOT want any sort of 5 - 6 figure tax hit right now.
Rather than panic, think about putting more money in to a stock or two you've been eyeing for months but felt like it was too expensive or had run too hard recently. It's a sale!
Posted on 8/5/24 at 7:59 am to slinger1317
You buy more when things are discounted
Posted on 8/5/24 at 8:02 am to slinger1317
Continue to DCA... You're prob 20yrs away from thinking of retirement.
Its not a loss if you don't sell and the market will be back at 40k at least once before you are ready to cash out.
Its not a loss if you don't sell and the market will be back at 40k at least once before you are ready to cash out.
Posted on 8/5/24 at 8:04 am to slinger1317
ZOM, HMBL, WKHS.
But seriously I'm the same age and have more kids, just ride this wave, keep your auto contributions to the Roth, brokerage and education savings. Buy more at a discount where you can. The market will return, who knows when, but it will.
But seriously I'm the same age and have more kids, just ride this wave, keep your auto contributions to the Roth, brokerage and education savings. Buy more at a discount where you can. The market will return, who knows when, but it will.
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