Market in free fall

Was watching the news. the stock market is in a free fall, down 10 points in just the first few minutes. Hope the day finishes off better. Retirement may be just a dream if this doesn't turn around.
Europe must be worse off.

 

I don't even want to know...

 

For us still working this will be a great time to buy.

 

I switched jobs a few months back and rolled over my previous 401k to a Vanguard IRA. Rather hesitant, I elected to park the Vanguard in a money market account with the plan to dollar cost average my buys over the next year.

This is probably the only time in my life I "timed the market" - by luck.

 

I view it as a buying opportunity.

 

Too early to buy, I am mostly on the sidelines until this "correction" has finished correcting.

 

I'm at least 20 years from selling anything I buy...so it's all on sale as far as I'm concerned.

 

Good opportunity to buy.... Hard to time stuff like this.

 

The volatility of the market seems to increase. For (relatively) young people (like myself) it's more of a nuisance but for people close or in their pension this is awfull.

I'm all for the free market but we also need to start seeing stock again as purchasing a part of a company ( and the people working there) that you believe in. Stocks, hedges and shorts are more than codes on the stockmarket that are only there to get money out of. Treating the stockmarket as a casino will increase companies to only focus on short time profits and cause investors to abandon ship during the first waves since they do not trust the ship nor captain.

 

I will never be able to retire so it doesn't bother me?

 

Buy stock in Orville Redenbacher...

Just checked my private portfolio and a whole bunch of stop sales occurred, hesitant to issue purchases tomorrow or wait a week and see where the free fall ends

 

I am fortunate that I have a decent pension to look forward to. I did start a tax shelter annuity 20 years ago-it is with an insurance company and pays a guaranteed 4%. I have been all smiles as I see the market bob up and down-I'll never be rich. It I know what I have.

 

Some of you have been around long enough to know this too will pass. In 1987, the bottom fell out. Then the dot.com thing in the late 90's. Then again 7-8 years ago. Don't sell now, that will seal your losses, patience has paid off for me.

If it matters, I am 52 years old, and have been 100% in stocks on my investments since my first stock purchase in 1986. Stay away from the speculative "high flyers," they crash harder, I learned that a couple of times the hard way. Diversify - types of stocks, sizes of companies, industries, countries, etc. And hang on, buy more if you can, and I believe it will pay off in a few short years.

Greg

Edit: Sorry, I was not quite accurate above. I have owned gold from time to time, so not 100% stocks always. Right now pretty close to 100% stocks, perhaps 95%, with 5% divided between cash and gold.

My point is, don't try to time it, you are highly unlikely to improve your results by doing so.

PS Not an investment advisor, etc, etc.

 

I just bumped up my 401k contribution rate last week when I found out I was getting a raise, I'm hoping this downward trend holds at least until the end of the month when I get paid so I can take advantage of it! Regardless, I have 30+ years before I retire, I'm not worried. Everything I "lost" when the market went down in 2008 came back stronger than ever.

 

I don't watch the news because I'm to busy with everything else, that and there's never good news and it only makes me worry, it's easier to worry about it when its actually effecting me directly.
That being said if I had extra cash I'd be looking into putting it into the market in the next month or so with the little that I do know about it so far

 

Buy low sell high and only invest what you can afford to lose, assuming you might never see it again