Set up an investment account for my retired mom literal days before Trump crashed the economy. 5k evaporated. Should I pull?
So my mom is retired, I finally convinced her to let me invest some of the life insurance money from my dad cause she had it just sitting there. I took 50k and opened a vanguard account. All index funds. ETFs of bonds. Mutual funds. Stuff like that. No individual stocks or day trading.
*LITERAL DAYS LATER* is when trillions were wiped out. And every day trillions more disappear. If it were my money it would be fine, but my mom is retired and 65. If this takes a decade to recover she might not be around that long.
10% gone in a week especially after inheriting a bull market seems pretty fucking insane. I know the advice for young people is not to pull, but since my mom is retired should I cut my loses? Cause, I think we are in a unique moment of just extreme self inflicted damage that might not have a parallel. Atleast in the short to medium term. I don’t think there is a plan or a master tactic; I think it’s much more likely the world’s sees an opportunity to ally with a much more stable power like China than rely on whether 40k people in 3 states will decide the fate of the world.