Ok hi everybody -
How are you? I am great but a bit unhappy. In the past 4 years I lost ~200k in the stock market due to some poor choices. Think penny stocks of the day, selling too early, buy lots of Chinese stocks, etc. Some of those losses are done (I sold), some are for stocks I own in my 401k that are significantly down from their pick (mostly Chinese stocks).
I am 41 and my wife 29, we make about $350k combined and between the two of us we have ~$300k in our 401k., $150k in money market accounts, and ~$70k in our savings account.
We save ~33% of our pre tax income every month and our income should go up in aggregate an average of 10% a year for the next few years before plateauing at say $500k/year combined.
We own $130k in our home and we have no significant debt.
What are your suggestions? I am not buying stocks anymore but I do not know what to do with what I own. Any thoughts? Thankfully these losses really did not impact us, but I want to make sure this does not happen again!
How are you? I am great but a bit unhappy. In the past 4 years I lost ~200k in the stock market due to some poor choices. Think penny stocks of the day, selling too early, buy lots of Chinese stocks, etc. Some of those losses are done (I sold), some are for stocks I own in my 401k that are significantly down from their pick (mostly Chinese stocks).
I am 41 and my wife 29, we make about $350k combined and between the two of us we have ~$300k in our 401k., $150k in money market accounts, and ~$70k in our savings account.
We save ~33% of our pre tax income every month and our income should go up in aggregate an average of 10% a year for the next few years before plateauing at say $500k/year combined.
We own $130k in our home and we have no significant debt.
What are your suggestions? I am not buying stocks anymore but I do not know what to do with what I own. Any thoughts? Thankfully these losses really did not impact us, but I want to make sure this does not happen again!
Statistics: Posted by tryingtosavemoney — Sun Jun 30, 2024 5:44 pm — Replies 25 — Views 3533