Like millions of others I'm pretty f***** to be honest in terms of losses and plans. We have a broad spread of decent funds covering most sectors and geographies but I failed to see it coming and waited and waited - now I daren't look at our valuations. Decades of prudent working, saving, solid investments and plans to begin to retire in five years but I think this really is a 1929 moment and far, far worse is still to come on top of this mornings UK/EU drops. Just wait for the Dow to open later today. I really think we are talking not years but maybe even more than a decade to get back.
This is new territory and with interest rates where they are and most options used up there is nothing governments and institutions can do to help this time. Not just little cafes and shops will go we're talking huge casualties that will bring the banks with them.
The old cliche 'not timing the market but time in the market' comes to mind but at a certain age and having ridden the bull market you realise there is not that time left to recover the losses and you should have been even more prudent as you count down the years to retirement.
Only actual advice I'd say is drip it in as always over the next 12 months if you dare - that's what I plan when the 5th April 2020 ISA allowance kicks in. At least to buy back some of the funds/trackers dirt cheap that were not dirt cheap two months ago...
Don't buy now though - we're 30% + down and I think we could end up at double that.
Bollocks to it all. Just a great time to be a motorcyclist is all I can add - self isolate on the open road and enjoy the cheap petrol and try and forget it all.
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