Coronavirus market plunge is making people question if they should sell stocks and run to cash

You have questions, and we have answers when it comes to managing money and investments through the middle of a pandemic. Many older Americans are particularly concerned about their ability to maintain their lifestyle in a recession. Thus, the question of whether to sell stocks and run to cash is not uncommon, especially for retirees.

To help you navigate this uncertainty, I've been talking to financial experts about this concern. While it is best to speak to your own financial advisor and team of experts about your specific financial situation, here are some tips to think about right now. My husband and I are 78 years old and have several million in the stock market. What's the downside of taking it out now so we will know that we have enough to live on?For the next few months, the Bank of Grandma and Grandpa may need to close. "Some retirees have been known to give excessive amounts of money to children and grandchildren and have a high travel budget," said certified financial planner2. Understand your asset allocation, risk and income.

Retirees should have "a clear understanding of their allocation between stocks, bonds and cash to determine how much risk they are exposed to and the variance of income based on the underlying investments," said Braxton, who is also a member of the"Having a well-diversified portfolio that fits an individual's risk portfolio should be the focus.

acorns Go to cash now? And what, get in at the bottom? If you were that good at timing the market, you wouldn't be in this predicament.

acorns

acorns They will become homeless!!

acorns Damage has already been done at this point. You either beat it or ride it out

acorns Open businesses and remove democrats

acorns Keep in mind cash is an asset class, just like stock is an asset class.. in absolute term, Cash do not fluctuate like stocks... additionally preservation of cash is also an investingyou concept

acorns BTC

acorns It’s to late!! Sell everything

acorns MARKETS WILL SELL off big before close as POLITICAL MADNESS IN the senate and congress will cause this market to have a huge selloff. AMERICA PEOPLE ARE hurting and they will sell out because of fear. GOD HELP US

acorns THE DEMOCRATS ARE LITERALLY COSTING AMERICANS THEIR LIVES, FOOD AND LIVELIHOODS

acorns Not now unless you’re an idiot. Ride it out at this point

acorns THE MARKET WOULD BE UP TODAY IF THE D's WOULD STOP PLAYING GAMES WITH AMERICAN LIVES AND FINANCES

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market live updates: Dow futures down 400, waiting on Congress, 'limit down' againStocks pointed to declines on Monday as investors await a stimulus package from the coronavirus. That's because the democrats won't make a decision to pass a bill to help the economy, they will be the reason we fall into a great depression, there are so many out here already around where I live that have lost there jobs due to all this, and now we are getting false hopes. Misleading headline.
Source: CNBC - 🏆 12. / 72 Read more »

Closed All At Once: Restaurant Industry Faces CollapseWhen Hurricane Katrina shut down Melvin Rodrigue's famed Galatoire's restaurant in New Orleans, insurance paid for his losses. This time, it won't. 'I think Katrina is going to prove to be a cakewalk compared to this,' he says. The majority of these restaurants won't ever come back. We're witnessing the death of small business and the rise of corporately-owned everything, all from houses we can't leave. Rules can be bent in extraordinary circumstances. Serve take out and delivery to get by. Landlords - and this is the hard part - but Landlords should waive rent for a couple of months.
Source: NPR - 🏆 96. / 63 Read more »