A quick reminder that the only way to lose money on a long-term investment account is to sell now

[Recursion]

If you want some unsolicited financial advice, forget that you have an IRA or 401K for the next few weeks. Just pretend it's not there. The only way these things become money losers is if you sell during a panic. Don't.

[mahatmakanejeeves]

1. Unless you bought at a much lower level, and you want to cut your losses.

I should edit "and you want to cut your losses." to and you want to avoid further declines." Thanks for pointing that out, Recursion.

I see AAPL dropped $40 per share last week. At its current level, it could still be selling for a lot more than some investors paid for it.

Hang on or sell? It's not my call.

I'm holding on.

THIS IS NOT INVESTMENT ADVICE.

[Recursion]

3. If you bought at a lower level, you have no losses to cut

Never mark your retirement account to market.

[mahatmakanejeeves]

4. We're on the same page. Turn off your TV and don't check your accounts every five minutes. NT

[Recursion]

7. Bingo (nt)

[mahatmakanejeeves]

10. I went back and clarified what I should have said the first time.

Thanks.

[denem]

2. 'The Fundamentals of The Economy are Strong'

cough cough

[USALiberal]

5. I just hope my bond funds stay ok! Nt

[beachbumbob]

6. watch what the fund managers are doing, believe me they aren;t sitting around watching

capital drain away.

The typical blah blah to the masses, is stay put all will be well. when in 20years?

[Recursion]

9. 4 or 5 generally

A broadly diverse stock portfolio has never lost money over a 5-year window. Which is why I'm talking about retirement accounts.

[Ms. Toad]

20. The best managers know how to manage short term turbulence

Sometimes that means sell, sometimes that means hold. That's a reason to invest in a fund (and hold through turbulence unless you are retiring in the next ~5 years), rather than individual stocks: Unless it is your profession, the average investor does not have the experience to know how to move within the turbulence. It's a bit like trying to take over the wheel of a race car when you're used to Sunday driving. You pick your driver based on past history and let them drive.

[janterry]

8. It's really hard to watch

I have someone who takes care of my investment accounts and I trust him. I'm sure that things will be okay - eventually.

But this is so hard to watch (and I just can't help but watch).

[safeinOhio]

11. Best thing to do

Vote Blue.

[wishstar]

12. Market is still historically high, so going to safer haven now isn't a bad idea for some

especially for anyone who will need to use their funds in next couple of years.

For people in individual stocks, they need to carefully study their options as some companies are more vulnerable to bankruptcy and not recovering well while other companies will be resilient and safely poised for recovery.

[Ms. Toad]

21. Excellent observations.

I'm on the cusp of needing to pay attention - my retirement is between 5 & 10 years away. We've got enough income guaranteed (defined benefit plan + Social security), and miminal expenses until we choose to pick up more (mortgage is paid off) - so I've decided it's OK not to look.

[snowybirdie]

13. Good advice, except

those of us currently drawing down our investments and having little time to recoup.

[StarfishSaver]

14. I almost had a panic attack in 2008 seeing my investments tank

Fortunately, I didn't act on my panic, as much as I wanted to.

My concern now is for older retirees who don't have time to ride it out, but need the money now. I hope they don't freak out and take it all out and try to put it somewhere "safer," but instead, just take out what they need for day-to-day expenses and let the rest stabilize and start to rebuild.

[gibraltar72]

15. Told many a client that.

Had some bad days explaining to them it was just a paper loss. Never saw anything like this though. I'm sure a few brokers aren't answering their phones today.

[Ms. Toad]

22. If I called today and my broker wasn't answering -

He wouldn't be my broker.

(That said, we have an agreement - he knows I don't panic, so he doesn't waste his time calling me on days like today so that he can spend time calming investors who need it more.)

[Awsi Dooger]

16. As a sports bettor I enjoy days like this

It is more what I am accustomed to...losing everything or doubling your money.

Now I'm heavily in the stock market but the daily 3 or 4 tenth moves are kind of boring.

There should be a circuit accelerator, that every day has to move up or down at least 7%

[Squinch]

17. I bet against Filthy Donnie. Figured the Obama economy ended in

Feb 18, put my money in super safe, low yield places. I'm ahead now of where I would have been if I stayed in, even through all that rise.

When Joe has been in for a while, I'll put my toe back in the water.

Republicans dependably trash the economy. This is going to be my method of investing from now on: out for Republicans, in for Democrats.

[DinahMoeHum]

18. If some of your portfolio is in cash, so much the better.

You're in a better position to add to your positions and buy other items later on - but not now, as the knife is still falling.

[Ms. Toad]

19. Same advice I gave my daughter.

Just don't look now - you've got plenty of time to recover before you need it for retiring. All that selling now will do is to cement your loss.

[phylny]

23. We are in it for the long haul, as we have always been, and

are actually going to buy a little today.

[Greybnk48]

24. Thanks Recursion. That's exactly what we're doing.

As a matter of fact, I have not even peeked at our numbers in over a week and I'm not going to check until this is over, (one way or another).