+1000
Race to 2024 - please join :)
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+1000
The Cosmic Avenger
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It's OK. Some people say not to look. Me, I remember being much less certain in 2008, but then watching the recovery, and now I feel a lot better about it. We're not there yet, but I think a lot of us will benefit from riding this out with our eyes (mostly) open.Yeah, from peak (Feb 19) to recent trough (Mar 23), I was also down $550k! Wow, I shouldn't have just done that math.
Oh, and our total NW is down 13%, liquid assets down 20%. But we're still SO much better off than so many other people. I just keep telling myself, even if the markets never recovered AND we both lost our jobs, we could live (frugally) off of our funds.
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brokrken, curious what was your AA? looks like you are down in Q1 on your investable almost 30%, is that correct?
From $1,729 to $1,453 is actually a 16% drop. But, as I mentioned in a previous post the peak to trough was much higher, like the 30% you mention.
My allocation pre-meltdown was roughly:
85% Equity
5% Fixed Icome
5% Cash
5% Alternatives (we do some private equity stuff)
WyomingLife
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I’m in for 2024. Happy to be here with you good folks, and to learn from you.
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brokrken, I see, I missed that your -$500k is from the peak.
Would be interesting to see how long it will take to recover for all of us back to that February peak, our was $1800k even for overall NW.
Would be interesting to see how long it will take to recover for all of us back to that February peak, our was $1800k even for overall NW.
We were also at a tad above $1.8M. We'll get back there....hopefully before 2024!
Also, the real trough for us was a combination of some of our tech stocks (NVDA, AAPL, FB) being way, way down from the peak, as well as nearly our whole portfolio of preferred stocks being nearly cut in half for a few days.
40.0% - investments and cash only
77.6% of target when including cash flow from properties
Was lucky to change from 95/5 to 60/40 in early February, so only saw a 9% dip. Will get back in here after Q1 earnings probably.
Have kept on renovating the new property and have one unit rented, another unit in May and closing on financing next week. Whew! Can’t wait to have the cash to pay off credit cards and have the emergency fund fully funded.
None of our 10 tenants have been laid off or have had any issues or complaints about paying rent.
07/01/2020 - $1,763k - Amazing that this market has been so resilient and I am grateful for it. However, I am still expecting a W recovery, at best. All the money that was lost in Q2 is gone forever, unemployment is still extremely high and our deficits are out of control. You all may have even seen in a different thread that I have recently purchased October SPY puts with the thought that once Q2 earnings are realized and valuations are proven to be out of whack, we'll have a retest.
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brokrken, great progress and yes, I am also thankful for Q2 market gains and also believe we will see one more leg down before full recovery to February highs.
Our NW closed Q2 at $1,787k or 59.6% of FIRE target.
Our NW closed Q2 at $1,787k or 59.6% of FIRE target.
42.3% - investments and cash only
80.5% of target when including cash flow from properties
I actually decided to go down to 30/70 when stuff was falling further so rather than getting in after Q1 earnings I did the opposite, which in hindsight was a very dumb move.
We only saw a $70k jump in our assets during Q2 because of this. We are down $100k from the start of the year, the story would be very different if I got back in when I said I would.
The 2nd unit of the property was delayed, looking now like it will be the end of July. The financing was secured however, so now I have money to pay off $70k of 0% APR credit card debt coming due in October.
We turned three units due to people buying homes, but have been able to increase rents during most turns. We have two renewals for another year and for those units we have kept the rent the same due to Covid-19. 10 out of 10 tenants are stil paying on time and have not seen any drop in employment.
We only saw a $70k jump in our assets during Q2 because of this. We are down $100k from the start of the year, the story would be very different if I got back in when I said I would.
10 out of 10 tenants are still paying on time and have not seen any drop in employment.
Come on bud, you know better than to try and time the market!!
Glad to hear your tenants are paying, one property I own in Michigan the Mayor literally told everyone not to pay their rent.
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NgineER, we all make mistakes, but only some of us learn from them
You are doing really well, especially with "10 out of 10 tenants are still paying on time and have not seen any drop in employment". I have coworker that has 7 rentals - 5 tenants lost jobs and stop paying, and he can not do anything about it.
You are in good shape, and also we still have possibility of market downturn after Q2 results are in.
You are doing really well, especially with "10 out of 10 tenants are still paying on time and have not seen any drop in employment". I have coworker that has 7 rentals - 5 tenants lost jobs and stop paying, and he can not do anything about it.
You are in good shape, and also we still have possibility of market downturn after Q2 results are in.
NgineER, we all make mistakes, but only some of us learn from them
Thanks guys, hoping to get back in the game soon
SnowBound
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How many 2024's are thinking about switching to 2025?
Moved up to 2024 about 2 years ago or so, but been stuck around 52% of target for awhile now.
At least been holding ground...
Moved up to 2024 about 2 years ago or so, but been stuck around 52% of target for awhile now.
At least been holding ground...
The Cosmic Avenger
Thinks s/he gets paid by the post
In case you hadn't seen my thread on unexpected changes in retirement plans, I may have already switched to 2020, I just won't know for sure for a while. But in large part due to guidance from these forums, I'm feeling OK about that.
Dtail
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Good thoughts. Only live once.
We forgot today was Saturday. It's like that.
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Hope you didn't sell any of these....great bounce back.
Still tracking for 2024 or little sooner.
Nope, didn't sell anything. Actually bought more of some of the preferreds and also bought XOM, IBM and T when they were near lows
I take that back. I did actually have half my AAPL shares called in a covered call play that went awry at $265.
Luckily I didn't sell calls on the whole position, so I still have some.
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I take that back. I did actually have half my AAPL shares called in a covered call play that went awry at $265.
Luckily I didn't sell calls on the whole position, so I still have some.
Haha....$260 is the point where I picked my first lot of 25 apple shares. As they say, there's always a buyer who thinks he's making a smart purchase while the seller thinks he's making a smart sell.
Oh, I didn't think I was making a smart sell and sincerely intended to buy them back. But, I got greedy waiting for them to drop below the strike price, it never happened and they got away from me.
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Got it. My problem is that I don't sell any stocks. Also, wait too long before buying. I need to learn to trust the market and be religious about buying every month / quarter. Thank god for 401k's where this is done automatically every 2 weeks.
