I have a friend who is freaking out about her losses in her investment accounts. She "saved" $15,000 into her accounts this year but the value has gone down by more than $40,000. She's lamenting about her "lost" money and all the things she could have done with the $15,000 that's now gone.
Any words of wisdom to share with her? She's still adding money to her retirement accounts but it's sitting in cash because she's afraid to invest it.
Bob Mann
Lunch Money Investment Club
John Rice on
She is buying companies at a discount. The market will recover.
I have a friend who is freaking out about her losses in her investment accounts. She "saved" $15,000 into her accounts this year but the value has gone down by more than $40,000. She's lamenting about her "lost" money and all the things she could have done with the $15,000 that's now gone.
Any words of wisdom to share with her? She's still adding money to her retirement accounts but it's sitting in cash because she's afraid to invest it.
I have a friend who is freaking out about her losses in her investment accounts. She "saved" $15,000 into her accounts this year but the value has gone down by more than $40,000. She's lamenting about her "lost" money and all the things she could have done with the $15,000 that's now gone.
Any words of wisdom to share with her? She's still adding money to her retirement accounts but it's sitting in cash because she's afraid to invest it.
Bob Mann
Lunch Money Investment Club
Bob Mann on
In my rush to ask the question I forgot an important part, which she is early 60's so nearing retirement. She's not as worried about 'having' money as she is 'having it early enough to enjoy' while she's still healthy/young.
Bob
On 09/23/2022 11:41 AM John Rice via bivio.com <user*24380400001@bivio.com> wrote:
She is buying companies at a discount. The market will recover.
I have a friend who is freaking out about her losses in her investment accounts. She "saved" $15,000 into her accounts this year but the value has gone down by more than $40,000. She's lamenting about her "lost" money and all the things she could have done with the $15,000 that's now gone.
Any words of wisdom to share with her? She's still adding money to her retirement accounts but it's sitting in cash because she's afraid to invest it.
Bob Mann
Lunch Money Investment Club
Linda Glein on
Tell her she probably still has 30+ years of life left, so invest for the long-term.
She may be impatient and want to spend her money on 'fun' stuff right now, but life at 90 with minimal funds could be quite miserable.
In my rush to ask the question I forgot an important part, which she is early 60's so nearing retirement. She's not as worried about 'having' money as she is 'having it early enough to enjoy' while she's still healthy/young.
I have a friend who is freaking out about her losses in her investment accounts. She "saved" $15,000 into her accounts this year but the value has gone down by more than $40,000. She's lamenting about her "lost" money and all the things she could have done with the $15,000 that's now gone.
Any words of wisdom to share with her? She's still adding money to her retirement accounts but it's sitting in cash because she's afraid to invest it.
I have a friend who is freaking out about her losses in her investment accounts. She "saved" $15,000 into her accounts this year but the value has gone down by more than $40,000. She's lamenting about her "lost" money and all the things she could have done with the $15,000 that's now gone.
Any words of wisdom to share with her? She's still adding money to her retirement accounts but it's sitting in cash because she's afraid to invest it.
Bob Mann
Lunch Money Investment Club
John Munn on
Bob... Your friend may not have a cash reserve and maybe she's relying on her equities in the near term and will need to cash them out while the market's down. If so, she should build up a cash reserve to rely upon for the near term. She needs to think about an asset allocation plan and then create it for the spending down of her assets. As to lamenting over the fall in prices, don;t cry over spilled milk... there's nothing now to be done other than to reallocate while prices are low. As was mentioned, she has possibly 30-40 years of income needs so she should put the current market slide into context. If her health is good now, then there's a good probability she'll enjoy good health ten years from now as well and she can enjoy the funds when the market recovers.
I have a friend who is freaking out about her losses in her investment accounts. She "saved" $15,000 into her accounts this year but the value has gone down by more than $40,000. She's lamenting about her "lost" money and all the things she could have done with the $15,000 that's now gone.
Any words of wisdom to share with her? She's still adding money to her retirement accounts but it's sitting in cash because she's afraid to invest it.