Fizzzzle Posted February 1, 2021 Share Posted February 1, 2021 There's a somewhat famous story that I doubt is entirely true. The story is that, one day in 1929, Joe Kennedy went to get his shoes shined. The shoe shine boy started giving him stock investment tips. Joe Kennedy promptly sold every investment he had, making a fortune, later saying "if shoe shine boys are giving stock tips, it's time to get out of the market." Like, on the one hand, I kind of want the market to burn anyway, so it's whatever. But on the other hand, that quote has been lodged in my head over the last couple weeks. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted February 1, 2021 Share Posted February 1, 2021 Man I hope not, I have my retirement savings in the market! (index funds) On the other hand, ups and downs are to be expected. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted February 1, 2021 Share Posted February 1, 2021 Nope. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted February 1, 2021 Share Posted February 1, 2021 No, not particularly any more than I would be simply because it isn't impacting the broader market. Quote Link to comment Share on other sites More sharing options...
Jason Posted February 1, 2021 Share Posted February 1, 2021 Just now, CitizenVectron said: Man I hope not, I have my retirement savings in the market! (index funds) On the other hand, ups and downs are to be expected. The stock market taking a dive is bad if you're living off your retirement funds but is good if you're still far from retirement since it means your retirement contributions are getting in low. Quote Link to comment Share on other sites More sharing options...
Amazatron Posted February 1, 2021 Share Posted February 1, 2021 I don’t see a crash happening, it’s very different than the .com crash or the mortgage crash. Quote Link to comment Share on other sites More sharing options...
Commodore D Posted February 1, 2021 Share Posted February 1, 2021 If it does, I'm buying. Quote Link to comment Share on other sites More sharing options...
cusideabelincoln Posted February 1, 2021 Share Posted February 1, 2021 I wish I would have bought back in March. Quote Link to comment Share on other sites More sharing options...
BloodyHell Posted February 1, 2021 Share Posted February 1, 2021 MS up 4%. Quote Link to comment Share on other sites More sharing options...
Kal-El814 Posted February 1, 2021 Share Posted February 1, 2021 I’m far away enough from retirement and invest consistently enough that no, I man not worried. Quote Link to comment Share on other sites More sharing options...
Air_Delivery Posted February 1, 2021 Share Posted February 1, 2021 Nah. The stock market exploding is just a combination of massive liquidity, 0% interest rates and small business getting massacred. Quote Link to comment Share on other sites More sharing options...
Massdriver Posted February 1, 2021 Share Posted February 1, 2021 Not from this. I think markets are a bit frothy here, but I'm not too worried about a crash. I wouldn't be surprised if we had a correction in the near future and then gradually bounce back to new highs later. If the vaccine roll out picks up steam, I'm bullish over the next 5 years even if things are ahead of themselves at the moment. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted February 1, 2021 Share Posted February 1, 2021 4 hours ago, Jason said: The stock market taking a dive is bad if you're living off your retirement funds but is good if you're still far from retirement since it means your retirement contributions are getting in low. Yeah, exactly. I'm 25-30 years away from retirement (hopefully 20, lol) so I'm not worried. I have regular contributions going into my RRSP (same as 401k) which is matched by my employer, plus bi-weekly TFSA contributions (same as Roth IRA). So while I lose money on the dips overall, I'm still buying at the same time. Also, the last two years have seen incredible growth, so even going down 10-15% suddenly would still equal out with long-term annual growth numbers. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.