In the new Netflix documentary “Get Smart With Money,” financial counselor Shareef “Ross Mac” McDonald tries to persuade a struggling NFL player, Teez Tabor, to invest in the stock market.
Tabor, meanwhile, was just picked up by the Seattle Seahawks. So he can probably weather the downturn by working through it, the way most financial advisers would advise clients who are fretting that markets aren’t bouncing back the way they did at the start of the Covid-19 pandemic. But that still underscores his hope, and near certainty, that markets will eventually go up again. They always have, after all. In the past 100 years, there’s never been a 20-year period in which the U.S. stock market didn’t generate a positive return.
“I ask: Are we OK putting money in? And if not, we’ll push it to the back of the line,” Bishop says, and reinvest it in Treasurys TMUBMUSD10Y, 3.479%. ‘Always have some cash on hand’ What you do about stock market downturns depends largely on your time horizon for needing the money. The holding strategy works best for those who can wait it out for at least three to five years. That even goes for retirees who have a portion of their nest eggs invested, says Ed Slott, a retirement expert and founder of IRAHelp.com.
If you do have all of your IRA invested, Slott suggests speaking to a financial adviser to figure out which items you might want to liquidate to meet the RMD amount or the living expenses you need.
This is correct
Cause Vanguard is low expenses but win’t trade even on horrible valuations. Buy and hold. So. That is the mantra. Not awful for the young for last 4 decades. Devastating for retirees in 70’s and 2000-2010. I have no recommendations. No effin clue. We are in the upside down
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