When the market started taking as people went home, I read a Tweet that I immediately took as wise advice– now’s the time to buy. Why? Because the market was headed down, that means that people were selling and that if you bought lower then you would make more money in the long run.
In fact, the advice said that if you increased your 401k and other contributions you should see the market come back and get a tidy profit as the losses that we’re seeing now will come back later on.
Is this guaranteed? Of course not. Ecclesiastes reminds us that those that think that they know the future are foolish, because everything can change. You shouldn’t be gambling or staking your Emergency fund on this kind of concept, but if you have extra money it can’t hurt.
Which is why I’ve put on my list that I need to listen to list the following podcast because I can tell from the show’s notes I will want to listen to…
These are the topics that I think I’d find interesting, though I’m not sure about who Ramit is…
- The money moves to make in order to survive being laid off or a big drop in income
- The CEO approach to surviving the downturn
- Why Ramit has changed his tune a little bit on how much to have in an emergency fund
- How much to really save, and then when to use your emergency funds
- Should you be helping your family financially?
- How to come out from this pandemic even better than before
- Starting a business right now — it may not be such a bad idea after all
- The business that Ramit’s mom started
- What to do if you made early mistakes with your stocks/investments
In any case, what moves are you making with your money. Do you think that this is a good time to buy?