Treat the world like there are diseases in it already. Like the common flu, which we should literally treat everything as if it’s infected with this. Wash hands, wipe equipment down before and after use. Don’t stick you fingers in your mouth. Follow what we call general precautions and it’ll greatly reduce chances of getting everything that’s new and old alike. Treat every surface as if it’s infected, every foreign liquid you see like it’s infected with something, etc you may only be correct 1/1000x but that’s all it takes to pick something up.
As for me, my gym is in the garage. So it’s open for business!!!
Just signed up to a small private powerlifting gym like 2 months ago. Not many members total and is 24/7 so I often come in when there’s no one around. Might be in contact with half a dozen people a week (a dozen if I go socialise at peak time). I’m relatively well isolated I think. I wash my hands and shit now at least
I’m actually set up to max our my next 3 workouts. My gym was almost empty yesterday, and I’m just hoping it’ll stay open long enough for me to get those sessions in. My highschool is starting March break tomorrow and It just got announced that for the 2 weeks after the break, schools closed
What university do you go to? A lot are going online. And I think most places have a plan for going on line if it keeps getting worse.
One in Australia. First confirmed case within the community yesterday. I could do 100% online but my sister needs me to drive her so I end up appropriating a bench and chilling in a secluded section of uni
I’m pretty clueless about finances but from what I can tell, a lot of people are bailing and stocks are cheaper…is that accurate? Would it be smart to try to invest now, as it will get better once the world has recovered from this?
Probably. Look at those long-term stable plays you know will rebound and have dropped 3+% in the last two weeks; you nearly guarantee yourself a return (not that there are any guarantees in this), and you don’t have the stress of having to sell at a perfect time because they can grow long-term.
I mostly invest in index funds, and have for a while. I will continue to invest in them through my employer’s 401K plan. I am planning on buying individual stocks with the downturn. Some specific industries were hit really bad. Do I think Delta airlines is really worth a little over half of what it was worth a month ago? Is Carnival Cruise Line really worth a third what it was a month ago? I plan on maybe investing $500-$1000 in 5-6 individual stocks each that have been hit really hard in the areas of airlines, cruise ships and oil. I will continue to max out my 401K, but I think there is opportunity. Maybe I’ll learn a lesson about individual stocks (which I already know, but plan on ignoring).
I think your plan is on point, and as long as you’re maxing you’re 401k you’re managing your personal retirement (assuming that’s your investment goal) risk anyway.
I will say, the market was probably inflated before this and reduced interest rates don’t help the influx of foreign money, but I do think this will prove to be a huge financial overreaction.
I’m not smart in personal investments, so anyone reading please take any of my thoughts with a huge grain of salt.
I agree that’s not the generic definition, I happen to disagree with it. The Italians are talking about triaging and how horrible it is. We already triage. My uncle spent a decade with a bad liver and having his name pushed lower and lower on the waiting list, largely because his case is not considered as critical as the others. I’m sure there’s many other cases where we triage according to available resources and urgency of the case. All this is doing is increasing that list, but it doesn’t remove the fact that triage is already a common part of hospital lives.
[quote=“Voxel, post:37, topic:265585, full:true”]
I feel this statement is not applicable globally.[/quote]
How so? Suppose that you live in a third-world country that literally has no access to modern medicine. If you’re severely ill or have a severe issue then the resources required to treat you will still be high, RELATIVE to what is available and commonly given.
As for cost of modern medicine- I’m pretty sure the cost taken by a company that creates drugs used for chemotherapy is the same (or similar) no matter where it is created. And vice versa.
Here’s the easiest route, my friend: nobody beats the market over time, so take an amount of money you can afford to do without (don’t go completely cash poor) and just put it into any standard index (Vanguard ETFs are easy and I think Schwab lets you trade for free), and just leave it there until you’ve hit whatever return you want or just for some time period.
You (most likely) won’t lose, and you’ll learn how the whole scenario works as you watch it play out.
Time is an investor’s friend. I am a heavy investor for my age (32). I figure it is the most probable chance of ending up wealthy (rental houses are maybe better if you buy low, and don’t mind all the extra work). I have lost about 30K in the last two weeks, but I am still ahead of where I would be if I put the money in the bank.
Totally agree. I think you’re smarter than me. I tend to let cash build and do nothing with it, which makes no financial sense when you look at the opportunity cost over time. I need to practice what I preach a little better!
I agree with your point about wealth on both counts.
I am unsure if the market is going to drop further, flatten out, or go back up. However, it went down ~30 percent in the last two weeks or so. If you have money sitting around I would start investing it now. You don’t have to put it all in at once. You could do 10% every two weeks or so. You probably won’t hit exactly the bottom, but you will still buy low. Perfection is not needed. I am not a financial adviser, but this is my $0.02.
Do you have an employer with a retirement plan? IMO, the key to my success has been automating investing. There are plenty of people who have duel six figure income households that live pay check to pay check. Lifestyle inflation is a real thing. There are also people who make a third of the first couple that live happy lives. The trick is to reduce you income through automatic investments, and get used to living on the check you receive.
When you get a raise, put 3/4 of it towards your investments, until you max out your 401K, then start a Roth IRA, or buy traditional investments.
