I WRITE THIS from somewhere in the Atlantic. We’re headed toward the Falkland Islands, where we’ll apparently see penguins. My wife and I booked this cruise months ago. Since then, of course, we’ve been told repeatedly that being on a ship for 30 days with mostly 60- to 80-somethings is not the best idea. Who knew? There was a time when getting away meant little connection to the outside world. No more. My iPad and iPhone keep me connected, although it’s my fault that I insist on looking. I’m addicted to information. This week has been especially trying, as I watch the stock market do its yo-yo act, while coronavirus hysteria runs amok, along with rumors that all cruise ships will be quarantined. Let’s see: Which is riskier, owning stocks or taking a cruise? Oh wait, I’m in both those boats.
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Source: At Sea – HumbleDollar
INTERESTING SITUATION YOU’RE IN. HOPE YOU CAN GRIN AND BEAR IT.
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Q, your decision to go on the cruise despite warnings about the health risks to seniors, reminds me of the old Jack Benny routine, first done on radio.
Benny is on the street when confronted by a thief with pistol in hand, who says, “your money or your life!” . Benny hesitates, hesitates again, and again. The thief repeats what he said, only louder. Finally Benny says, “I’m thinking, I’m thinking”.
Q, you should have thought more.
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Lots of uncertainty out there. When will this be behind us, over, buy the “big dip” now, wait, …
Would you have bought/sold at current levels had the decline been more gradual?
The recent activity is likely the result of incorporating the short term carnage from abrupt stops in economic activity. That will end … or it won’t.
Either way, my advice is the same, to leverage the one certainty, the one thing only you know, which is when you planned to spend that money. If it is five or ten years out …
And what if the market fails to recover and is about the same in 5 or 10 years as it is today when you go to spend, you just gave up what, 2/year stable value returns?
To paraphrase an old marketing slogan, even your financial advisor (hairdresser) doesn’t know for sure.
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