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Mar 12 - Roth IRA + Covid-19


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 3 weeks ago '18        #1
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FactChecker  topics gone triple plat - Number 1 spot x2
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Mar 12 - Roth IRA + Covid-19
 

 
So I invested a total of 12k in my Roth IRA index fund @ Vanguard and cuz of Covid-19, it's down to about 8k and I don't see a path where the market is going to be in the positive anytime soon so I'm considering pulling that money out into my money market account. Do yall know if there are any penalties/taxes on that? I know there's a tax on capital gains but I didn't gain sh*t... I'd be selling at a loss... to prevent more of a loss.

I'm 35 and obv not planning to retire anytime soon but rn everyone's money is being set on fire and the people that aren't pulling money out of the market are the ones who would get taxes a lot since they've been in the game much longer than me and have accumulated a lot of gains over the years.



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7 comments
 

 3 weeks ago '05        #2
dizzle trizzle 
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Props total: 11655 11 K  Slaps total: 1213 1 K
i would leave it alone, i havent look at mine yet...just leave it alone and follow the plan
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 3 weeks ago '16        #3
OWPE 
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Props total: 20365 20 K  Slaps total: 27933 27 K
Dont sell it. Never panic sell. In fact, if you got some extra bread laying around, throw that in for 2019 taxes. Buy up at this low price, it'll go back up once the panic is over.
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 3 weeks ago '13        #4
reffahead 
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Just bad timing. Imma throw a few bands into an IRA right now. You gotta time it right for when it balloon back up.

Experimented with a couple of Fidelity mutual funds 5 years back. $2,500 a piece for DXQLX and FSPHX.

Cashed out on DXQLX at $4300. Timed it out to where I could have invest 10k and finished at 20k. I was scared with the money however. FSPHX is at $4600 rn.

Say all that to say, stay patient as it will balloon back up. Others can correct me but somebody will make a vaccine and it's time to put money into these healthcare indexes and funds.
+1   

 3 weeks ago '20        #5
Xiox 
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Props total: 1951 1 K  Slaps total: 348 348
Don't pull out , the market went down to about 22000 and came back up to like 29000 in couple months . It will level back out
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 2 weeks ago '16        #6
popogogo 
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Props total: 21195 21 K  Slaps total: 860 860
You'll go crazy looking at your retirement accounts right now.







I just stopped looking at mine.

The market has historically moved up, so I'm just staying pat.
I'm playing the long game.
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 1 week ago '19        #7
Dabrinks 
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Keep contributing. Cost down

 6 days ago '06        #8
chrisf249 
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I stopped putting money in one of my accounts and started to put money towards my other stocks and funds. Diversify my a*sets.

I’m going to buy 300 dollars worth of carnival stock tomorrow morning



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