My husband took all our money out of index funds and put in personal tech stops and it dropped 50% this year. My husband did this. I'm so scared and don't know what to do in our situation. He won't talk about it and calls me a fool to take the money out of the market now. I'm so angry to be in this situation. |
That's why you don't DIY the market. Get a financial advisor to manage your money and tell him no more playing with the market. |
How old are you guys? If you don't need the money in the next 5-10 years, you should be fine. Hopefully, the companies are solid. |
He was a fool to try to play the market instead of sticking with tech stocks. You would be foolish to double down and lock in those losses now, at least without waiting to see if recent declines are long lasting. The moment your portfolio rises to anything close to where it was, go back to index funds. |
Sticking with index funds* |
I’ve posted before and I’ll post again. Warren Buffett says index funds are the best place to put your money and it will always beat individual picks over time. |
This is my retirement account:
AMWL YI TDOC TRUP AMZN LMND NEE ABNB MASI PGNY FROG FSLY AXON CRWD PINS |
He's been listening to too much Cathy Wood. That's a YOLO portfolio right there. |
Nuts unless its your full time job. No advice but dont put any more into any of these individual stocks. We are mostly index and are a good 20% or more up for the year. |
What’s that? |
A person who rode the bull market by betting on tech companies and has watched their funds crash and burn. You only live once though, bet it all on AMC |
Ok. Yah. Luckily we have 1.5mil equity in RE but I’m scared of what he’s done. Totally reckless. We are late 30’s, 2 kids. I told him I am taking over finances from this point forward. He won’t switch out the stocks he’s in now but from this point forward it’s going to be all conservative choices. Unfortunately he basically gambled away our 401k doing this. |
SPY is down roughly 13% YTD. Are you in specialty index funds? |
Scared of what? Don't sell now -- you'll be stuck with those losses. Do you need the money this year? |
Sounds like you are trying to time the market. |