I hope this works....
Never buy stocks on Friday.
Here's?ÿ something I did at the start of this year.?ÿ Bank & credit union savings accounts pay next to nothing in interest, offering only liquidity.?ÿ Online banks presently offer interest rates around 1.7-2.0% and can be linked directly to your bank for transfers, etc.?ÿ They're FDIC insured, etc., and so far have pretty good customer service (better than my bank's).
So I put all my savings account cash into an online bank savings account.?ÿ You may poo-poo a 1.7% rate but for me that's $1,400/yr for doing nothing and no risk.?ÿ Only downsides are it's slightly illiquid; it takes up to 2-3 business days to transfer to & from your brick & mortar account, and you're limited to?ÿup to six (6) withdrawals in a (monthly) statement cycle.
Have any of y'all with any type investment given thought to the significant impact the Covid-19 virus is likely to, or could have on world markets? If so I would like your opinion. Some people I know with weighty portfolios have already liquidated everything even though it has tremendous tax consequences attached.
Sell or sit tight? Of course money is no good to you when you are dead. ?????ÿ
Those who held in 2007/8 have outgrown those who tried to time the low. If you're not day trading, on a margin account and have time, sit tight.
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For perspective, SARS?ÿ caused a similar dip in 2003.
Those who held in 2007/8 have outgrown those who tried to time the low. If you're not day trading, on a margin account and have time, sit tight.
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counter argument;?ÿ Citigroup.?ÿ
But yeah, they have all your money, and everyone else's, so what can you do. They can't crash the the whole market (see French revolution :)?ÿ ) but, gutting one or two customers, so the other customers can get their paycheck, is likely SOP
That's a pretty sound move in this low-interest-rate environment. Stay as short and as liquid as you can while getting the highest rate available. Your 1.7% is higher than the 10-year government bond rate and there's virtually no risk of asset loss from rising interest rates.
