Comments on: When the Stock Market Is CRASHING… What Should You Do?!?!? https://eliteedgemoney.com/when-the-stock-market-is-crashing-what-should-you-do/ Money | Minimalism | Mohawks Wed, 25 May 2022 18:22:41 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: SL https://eliteedgemoney.com/when-the-stock-market-is-crashing-what-should-you-do/#comment-370207 Mon, 31 Jan 2022 13:40:58 +0000 https://staging.eliteedgemoney.com/?p=64399#comment-370207 In reply to Hilary.

There are several posts about starting out on BAS. I have been following it for years and have enjoyed and learned a lot from it

]]> By: Hilary https://eliteedgemoney.com/when-the-stock-market-is-crashing-what-should-you-do/#comment-370015 Sat, 29 Jan 2022 20:14:56 +0000 https://staging.eliteedgemoney.com/?p=64399#comment-370015 In reply to Joel.

Oh if you have any health insurance info – please share! I’ll need to find some in the coming months! Enjoy the weekend! I have lots of BAS posts to catch up on!

]]> By: Joel https://eliteedgemoney.com/when-the-stock-market-is-crashing-what-should-you-do/#comment-370003 Sat, 29 Jan 2022 17:00:22 +0000 https://staging.eliteedgemoney.com/?p=64399#comment-370003 In reply to Hilary.

I don’t have 401k or health options from my workplace right now either. :( BUT, there are other cool options for us contractors which you can learn about over time.

Glad you love tracking numbers and sheets and stuff! Good luck with fidelity :)

]]> By: Hilary https://eliteedgemoney.com/when-the-stock-market-is-crashing-what-should-you-do/#comment-370001 Sat, 29 Jan 2022 16:46:23 +0000 https://staging.eliteedgemoney.com/?p=64399#comment-370001 In reply to Joel.

OMG you are the best! Thanks for the quick reply. I, unfortunately, do not have a 401K option at work. Or health insurance, grumble grumble… I’m a massage therapist and make very good $ where I am but investments and health insurance are on me. But! I love organizing and tracking and numbers so I am super excited to get started. Heading to Fidelity as we speak! Your site and information are so valuable. Thanks for welcoming me to the finance world!

Hilary

]]> By: Joel https://eliteedgemoney.com/when-the-stock-market-is-crashing-what-should-you-do/#comment-369998 Sat, 29 Jan 2022 16:35:10 +0000 https://staging.eliteedgemoney.com/?p=64399#comment-369998 In reply to Hilary.

Hi Hilary! The sooner you start investing, the better. No matter what the market is doing, opening an account and starting to invest ASAP is Step #1. Then, keep adding month after month, no matter how little it seems. I’m proud of you for beginning!!

Personally, I use Fidelity. Takes just a few minutes to open a Roth and you can start funding it right away.

Not sure what your employer situation is, but investing in your 401k (if you have one) is another great way to start building wealth in the background. The more you put your investments on auto-pilot, the better. Set and forget!

Great to hear you are starting your journey! Please let me know if you have any other questions, I’d love to help.

PS. once the money goes in –> make sure you don’t pull it out! The market might crash further than is it right now. but that’s OK, because all you care about is looooong term :)

]]> By: Hilary https://eliteedgemoney.com/when-the-stock-market-is-crashing-what-should-you-do/#comment-369996 Sat, 29 Jan 2022 16:20:26 +0000 https://staging.eliteedgemoney.com/?p=64399#comment-369996 How about someone with no investments and $5G’s + just sitting in a savings account? Should I go to Fidelity and set up a Roth IRA right now? Best to do it while the market is down right? Another site you recommend more? Any tips would be greatly appreciated!!! Thanks!

From a snowy CT,
Hilary

]]> By: Joel https://eliteedgemoney.com/when-the-stock-market-is-crashing-what-should-you-do/#comment-369844 Sat, 29 Jan 2022 00:56:25 +0000 https://staging.eliteedgemoney.com/?p=64399#comment-369844 In reply to Olaf, the Mile High Finance Guy.

True. But it’s only going to get worse later in life as the wealth pile grows. Having a 3M or 4M portfolio right now must be crazy with 100k swings week to week. Regardless, stay the course :). Have a great weekend buddy!

]]> By: Olaf, the Mile High Finance Guy https://eliteedgemoney.com/when-the-stock-market-is-crashing-what-should-you-do/#comment-369841 Sat, 29 Jan 2022 00:46:59 +0000 https://staging.eliteedgemoney.com/?p=64399#comment-369841 It would have been epic if you had published a 5 word post. A days work done, now off for the weekend. But as you said, DO NOTHING and STAY THE COURSE. That is all anyone should do if they are investing for the longterm. However, it is a bit painful though when your monthly losses eclipse your annual income, but it is a good problem to have!

]]> By: Joel https://eliteedgemoney.com/when-the-stock-market-is-crashing-what-should-you-do/#comment-369794 Fri, 28 Jan 2022 16:58:13 +0000 https://staging.eliteedgemoney.com/?p=64399#comment-369794 In reply to industrialbagels.

Great Scott!!! :) It’s probably because these website servers are hosted on the east coast and they are 3 hours ahead so that’s when/where the time stamps for comments.

]]> By: industrialbagels https://eliteedgemoney.com/when-the-stock-market-is-crashing-what-should-you-do/#comment-369793 Fri, 28 Jan 2022 16:39:52 +0000 https://staging.eliteedgemoney.com/?p=64399#comment-369793 how are you replying at 11:am today when it’s still 8???

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