Buddy of mine just cashed out of 401K and some other investments and put a lot of it in crypto. He put in some seed capital for a joint venture he and I plan to launch prior to the holidays. I’m curious to see how the crypto thing works out for him.
I cashed out the day they announced the NCAA tourney was cancelled. Put some into precious metals and some things I thought would benefit from the pandemic.
Set aside enough cash to live for 12 months somewhat normally and 18 months very frugally with no income if worse came to worst.
Very fortunate that the income situation is actually better now that it was pre-Covid, so I threw a little into this rinky dink startup we are going to try because I feel like I can better afford to lose the cash if it goes sideways.
There will be a lot of market manipulation between now and Election Day. Trump is going to do everything in his power to make the economy look as good as possible and his opposition will do everything in their power to achieve the opposite. Trump has zero chance of reelection if the economy can’t hold its ground. COVID will remain an enormously powerful market manipulation tool.
For a variety of reasons I think the post-election market is going to be strong so that’s probably not going to be a good time to buy back in.
But if there’s a big rally here in the next couple months that is spurred by more stimulus money/other means of artificial support, that might be a good time to exit if you feel you can come close to catching the high. Also depends a lot on how your 401K is invested. There are plans if love to have right now and some I would hate to have.
RecentWTF is wrong with the lef... by ThePAMan
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