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Getting out of equities, patience and old age.
Old 02-28-2020, 07:13 AM   #1
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Getting out of equities, patience and old age.

I sold all I could without us having tax consequences, the last batch 2 days ago. Some of those stocks we’ve held 20 years. Since I retired 13 months ago we are still ahead nearly 2 years spending since year Retirement. Amazing since it was such a spendy time. Boiler $7,000, stucco $7,000, Water heater $2,000 and roof $1,300.
I should be happy but I’m not - every fiber of my being hated selling. But that old saying “bears make money, bulls make money but pigs get slaughtered” keep me thinking and finally got me to pull the trigger. I have no regrets and I know I will get back in but probably not until next year.” I’m sure I’ll miss some run up because market timers always do. As long as we eat, are warm and are ok who cares - markets do what they do.

My plan was always to sit tight, ride it out and use my cash equivalents for spending. Cash earns almost nothing and idle funds make me crazy but I guess I’ll just have to be old guy patient - we’ve seen it all before.
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Old 02-28-2020, 07:24 AM   #2
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I sold all I could without us having tax consequences, the last batch 2 days ago.
So that is why the market is down so much. Aren't you fueling the fire?
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Old 02-28-2020, 07:27 AM   #3
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So that is why the market is down so much. Aren't you fueling the fire?

I sold a huge chunk before the virus was a thing. The final batch was to capture profits. It isn’t my job to steady the market is it?
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Old 02-28-2020, 07:28 AM   #4
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I understand why you sold, but now you have to think of when to buy back in, and that's hard. But since you don't seem worried about it, nothing I can say.
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Old 02-28-2020, 07:47 AM   #5
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I have ridden everything out after 2000 when I had a newsletter guru tell me to sell everything 3 weeks before the peak and subsequent downturn.
I expected to hold through any future downturn.
But now I have concerns, my first response to the downturn on Monday was, I had watched Bernie on 60 minutes Sunday night, talking about all the free stuff he was going to provide. Which we know is not free it is paid for by the 51% that pay federal income taxes. I initially thought that is what started the downturn people thinking it was possible he could get elected. Then the media went on the tear about Corona. I didn't see any real change over the weekend regarding the virus, but know after all the media attention, I'm sure it is now the Corona virus.
I don't feel the Corona is any worse than the flu, although possibly a bit more contagious, we had 61,000 people die of the flu in the 18/19 season,
nobody remembers that, we just took it in stride.

The Corona virus has me more nervous about the market if/when it does get into the states, with all the media hype, What will the market do then?
I was on my computer with Vanguard page up about to sell few accounts,
when my wife says from the other room, Tom Cook says they are reopening Apple plants in China. I hesitated, checked the market futures and they were less down than just a few minutes ago. And then 10 minutes later they were going down again.
I'm still nervous about the next 6 months and the virus entering the US.
My retirement is secure even with a 40% drop, but I hate to see that.
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Old 02-28-2020, 07:52 AM   #6
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If we do get increasing numbers of Coronavirus patients in the USA I am thinking the market will go down some, but won't be terrible. Why? Because the stock market is pricing in just such a possibility right now.
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Old 02-28-2020, 08:03 AM   #7
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If we do get increasing numbers of Coronavirus patients in the USA I am thinking the market will go down some, but won't be terrible. Why? Because the stock market is pricing in just such a possibility right now.
+1 - since all the geniuses, market experts, the best and the brightest have already factored in the possible pandemic.
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Old 02-28-2020, 08:06 AM   #8
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To avoid needless confusion and duplication, there are now three (and only three) threads related to the novel coronavirus COVID-19 and its impact on us.

Please choose the most appropriate thread and use it in future:

Coronavirus - Health and preparedness aspects - II

Coronavirus - Financial impacts II

Coronavirus - Travel impacts II

And again, it behooves us all to post in a sober and responsible manner. Factual information, with appropriate support/reference, is best. Reasonable and concrete suggestions for action are also appropriate. However, fear mongering and the promotion of rumors is not. As a general rule, before you post, ask yourself "Am I confident this is true?" and "Will this be useful to others or am I just venting?" The "hot topic" designation is turned on to give everyone a pause in which they can answer those questions.
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