Paco always has the best advice and is such a thoughtful person. I will be sure to tap her more, and I highly recommend her book, podcast, and newsletter.
Brilliant idea, Lyndsey. I feel like my group chats are saturated with different tones of despair and fear. There’s also a lot of “what do we do!!?” a question addressed to
both personal and professional realms. It’s nice to see some community here with ideas in direct response to that question. I love all aspects of The Purse, but this one is a new favorite.
This is an incredibly helpful and generous article for anyone looking to strengthen their financial future – American or not. Thank you to all involved for the thoughtful ideas and advice. 🙏❤️💰
This is a fantastic post. Some of the discussion in the money diary subreddit and around the internet had me a little freaked out for the past week (liquidate everything! leave the country! replace your car now! you need more cash!). I'm currently a phd student (in a science that hasn't been targeted by this administration), but luckily my department committed yesterday to continuing to pay our stipend and health insurance, even if NSF funding dries up. I've got guaranteed pay/health insurance until mid-2028, so for now, I've got a place to ride out the chaos. Right now, my plan financially is to keep prioritizing maxing my roth ira. My personal plan is a lot like the above- I'm trying to be more committed to my community. I'm also trying to remind myself that at this point, pursuing science as a career is an act of defiance against this administration (what a bleak sentence)
My heart goes out to those who have to put plans on hold now. Lots of the science/academic world is really rocked right now. My sister is holding off on having children because of the rollback of reproductive rights. I agree that there isn't much personal security when our country is so unstable right now. I hope we all get through this alright.
It's just so awful, Gab! My mom was a VA employee for decades, and my dad is a virologist who spent many years doing vaccine research funded by the NIH. (Have many childhood memories of the long hours he put in before a grant was due!) I worry for their legacy and also what's next, but I think you're so right when you say that we must persevere as an act of defiance.
Always enjoy reading stuff about how real people are feeling during these times, Thanks for putting that together. None of it surprises me - but the overarching theme is volatility (or surprises as regular people who don't care about markets might say) - most of the surprises I'm sad to say aren't going to be of the "good" variety, but I don't think anyone here expects much different. I feel very badly for people that won't be able to weather this storm.
For what it is worth, this is the strategy I always tell friends and family (ones that don't know much about markets) to use. It will save you from a very bad bear market, requires all of 5-10 minutes once a month to do and it's free, you don't have to pay anyone any money to use it. If you can add 10 numbers together and divide by 10, you can do it.
Many people are scared to time the market having been coached by financial advisors (who take fees from them, but many times aren't fiduciaries). Most of the advice centers around always being invested (which is the only way they make money as advisors). I always tell anyone that will listen, you are already timing the market when you choose to retire and buy a house by pulling money out for a down payment, buying a car, writing a big check for that first college tuition or whatever life throws at you. These guys at CXO do good work and while nothing is perfect, there are ways to be smart with your money that have proven the test of time over the very, very long term. Don't be scared to think a little different and take charge of your finances and retirement. It's very empowering.
There is a free thinger that will just tell you when to be invested and when to be in cash based on the 10 Month Simple Moving Average. You can view it here (link below). Now -it’s got a bunch of mumbo jumbo going on, so ignore all that. You don’t need a login or anything crazy like that either.
Near the top (under the “SPX Technical Analysis” heading) there are time frames to click (1 minute > 1 Month) - you want to click 1 Month.
Then you go find the “Moving Averages” area to the right-hand side and go look / scroll down for the “Simple Moving Average (10)” and look to see if it says “Buy” or “Sell”. Set a reminder on your phone to check it on the first Monday of every Month and you’ll be ready to rumble. It does require you to check it every month, but it takes just a second to look at it and another couple minutes to do your transactions in your retirement accounts. I hope that helps!
Loved Paco’s question and response. More of this 💛💛💛💛
Paco always has the best advice and is such a thoughtful person. I will be sure to tap her more, and I highly recommend her book, podcast, and newsletter.
Brilliant idea, Lyndsey. I feel like my group chats are saturated with different tones of despair and fear. There’s also a lot of “what do we do!!?” a question addressed to
both personal and professional realms. It’s nice to see some community here with ideas in direct response to that question. I love all aspects of The Purse, but this one is a new favorite.
Thank you, Lizz! I feel you on the tones of despair and fear! It's a hard time!
This is an incredibly helpful and generous article for anyone looking to strengthen their financial future – American or not. Thank you to all involved for the thoughtful ideas and advice. 🙏❤️💰
Thank you, Erin! And agree, the advice really is universal!
Really appreciate this!
This was very wise and kind advice, never hurts to hear it again. Thank you ladies!
Thank you!
Thank you for sharing this!!
This is a fantastic post. Some of the discussion in the money diary subreddit and around the internet had me a little freaked out for the past week (liquidate everything! leave the country! replace your car now! you need more cash!). I'm currently a phd student (in a science that hasn't been targeted by this administration), but luckily my department committed yesterday to continuing to pay our stipend and health insurance, even if NSF funding dries up. I've got guaranteed pay/health insurance until mid-2028, so for now, I've got a place to ride out the chaos. Right now, my plan financially is to keep prioritizing maxing my roth ira. My personal plan is a lot like the above- I'm trying to be more committed to my community. I'm also trying to remind myself that at this point, pursuing science as a career is an act of defiance against this administration (what a bleak sentence)
My heart goes out to those who have to put plans on hold now. Lots of the science/academic world is really rocked right now. My sister is holding off on having children because of the rollback of reproductive rights. I agree that there isn't much personal security when our country is so unstable right now. I hope we all get through this alright.
It's just so awful, Gab! My mom was a VA employee for decades, and my dad is a virologist who spent many years doing vaccine research funded by the NIH. (Have many childhood memories of the long hours he put in before a grant was due!) I worry for their legacy and also what's next, but I think you're so right when you say that we must persevere as an act of defiance.
Always enjoy reading stuff about how real people are feeling during these times, Thanks for putting that together. None of it surprises me - but the overarching theme is volatility (or surprises as regular people who don't care about markets might say) - most of the surprises I'm sad to say aren't going to be of the "good" variety, but I don't think anyone here expects much different. I feel very badly for people that won't be able to weather this storm.
For what it is worth, this is the strategy I always tell friends and family (ones that don't know much about markets) to use. It will save you from a very bad bear market, requires all of 5-10 minutes once a month to do and it's free, you don't have to pay anyone any money to use it. If you can add 10 numbers together and divide by 10, you can do it.
https://www.cxoadvisory.com/technical-trading/10-month-sma-timing-signals-over-the-long-run/
Many people are scared to time the market having been coached by financial advisors (who take fees from them, but many times aren't fiduciaries). Most of the advice centers around always being invested (which is the only way they make money as advisors). I always tell anyone that will listen, you are already timing the market when you choose to retire and buy a house by pulling money out for a down payment, buying a car, writing a big check for that first college tuition or whatever life throws at you. These guys at CXO do good work and while nothing is perfect, there are ways to be smart with your money that have proven the test of time over the very, very long term. Don't be scared to think a little different and take charge of your finances and retirement. It's very empowering.
Do you have more info about this? Not sure if the link was clear on the strategy
There is a free thinger that will just tell you when to be invested and when to be in cash based on the 10 Month Simple Moving Average. You can view it here (link below). Now -it’s got a bunch of mumbo jumbo going on, so ignore all that. You don’t need a login or anything crazy like that either.
Near the top (under the “SPX Technical Analysis” heading) there are time frames to click (1 minute > 1 Month) - you want to click 1 Month.
Then you go find the “Moving Averages” area to the right-hand side and go look / scroll down for the “Simple Moving Average (10)” and look to see if it says “Buy” or “Sell”. Set a reminder on your phone to check it on the first Monday of every Month and you’ll be ready to rumble. It does require you to check it every month, but it takes just a second to look at it and another couple minutes to do your transactions in your retirement accounts. I hope that helps!
https://www.tradingview.com/symbols/SPX/technicals/?exchange=SP
love this new series Lindsey!
Thanks, Katherine! Will definitely be tapping you for expert advice soon!