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Beneteau 393
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Hi folks,

Here's something most don't wish to discuss publicly, and nor do I. But I will discuss it as its important, I have been through this before, and just at times when u have the hat you have to wear it.

Stocks around the world are not doing well and for a cruiser living off them it's a very difficult time.

I was cruising in the Pacific in 2008 when the Global Financial Crisis happened.

Many who successfully came out of it did not sell their quality stocks. The went and hid behind an island 馃彎 until things stabilised. Reduced spending to zero or near zero.

Yes, we did not have Crypto then. I do not have any and would not be able to share any thoughts whatsoever about them, suffice to say many people have been told that things can't go to zero in a day when today we have seen that with the "stable coin" Luna Tera
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For folks in Crypto it's a difficult time.

This thread is not meant for people to give financial advice, and any posts that do will be removed.
This thread is just to extend an arm to those in difficulties. There's lots of people in this situation but maybe not aware to you because few talk. Many are in it, so take comfort.
Find that metaphorical Island and cut the spending to zilch until we see the other side of it 馃槉

If you are currently cruising and are finding things feeling insurmountable pease send me a PM (private conversation). I can't do much but offer support and how we got through 2008.
馃槉

Mark
 

bell ringer
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Lately when I feel crushed by the market drop I look up on my tracker spreasdsheet to see when that puts me back in time and did note how much better that is than what I planned for 5 years ago. It feels week, but helps ride it out.
 

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Buy the ticket and take the ride. I have very much enjoyed watching the gains in the market for the past few years and I remember well October 1987 just like February 2020. My advice to anyone is to have a good Financial Advisor who can help you manage the falls as well as the gains.
 

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鈥77 Pearson 10m
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The current market is particularly difficult for those who depend on income from stock/fund sales, which presently locks in recent losses. Switching now from stock funds to bond or money market funds does the same thing. If you're dependent on sales of crypto-based "investments" (parenthesis are my editorial addition) those losses are going to be catastrophic. Buy high and sell low ain't the way to go. If there is any way of avoiding selling low, like @MarkofSeaLife said, by reducing costs to the barest of minimum, and riding this out, you'll come out way ahead in the long run.
 

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Besides death and taxes, there are two other things that are certain -- the stock market will go up, AND it will go down. Right now it is going down. There is no doubt at all that it will eventually be going up again.

I think the big problem for a lot of people is that they get to fixed on what is happening right now. When it's going up, they think it is always going to go up. When it's going down, they think it is always going to go down. Stop being so fixated on the short term, and realize that stocks are a long-term investment (or, at least, they should be).

As Mark said, try to cut your spending. Try to avoid selling stocks, if you can. Mainly remember that this, too, shall pass.
 

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Maybe it's like being stuck somewhere in an extended patch of bad weather. It's miserable but it does give you an opportunity to catch up on stuff and be ready for when the weather clears. Perhaps some planning time spent now will prepare you for making your portfolio stronger when the financial weather clears.
 

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When the market goes up I to tell my wife "Look we made $3,000 last week in IMAGINARY money!"
There have been many times I wish I could harvest the green without cutting the stock count. Diversification and quality stocks are the key. Never did like crypto. To me it was just a number in a computer file. We have been in the market for close to 40 years. So this bear market isn't new and shall pass. I think it will be a soft and soon landing considering how much 401k money enters the market each year.
 
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bell ringer
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I just checked the S&P 500. Based on it I chose to just say that I haven't made any money since last April.
 

Old soul
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Hmmm... Let me check my portfolio. Yup, the same as it was yesterday. Nadda. Not trying to downplay the very real challenges for some folks, but sometimes it's good to be poor :).

Inflation sucks though. Means one less craft beer per day so far, but if this keeps up I might actually have to start drinking boring beer. Now THAT would be a crisis!
 

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1980 Endeavour 32
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Since I'm still working, what runs through my mind is when will I get to finally stop ? I'm in the last few years before I truly retire, and if things went well I could maybe go sooner and get cruising. If things don't then I may need to work an extra year or even 2, which right now feels like torture.
 

bell ringer
Joined
6,025 Posts
Well that always exists and your have to decide if you are going to go for it as there is always a risk. When I left 5.5 years ago I didn't have anywhere near the "wealth" recommended to "retire". But I risked it and it has all worked out as I never expected the market we have had the last 5 years and based my plan on 3% gains. Even with the drop this year the Market has been great over the last 5 years and it is expected to return to a more normal 5%/year gain. Just like all these ups and downs, now that it is down there is opportunity, but it involves risk.
 
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