Non ZbZj financial advice needed..

[ZeeBabar]

Through Edward Jones, I had about $79k invested 65:35 in Bonds and stocks. The total amount 2+ months later is $69k (loss includes small fixed fee).

The advisor says to stay with that ratio, that the market always comes back up. She even suggests I buy more stocks. My instincts tell me it just might not come back up to even in my lifetime.

I still have a mortgage, balance of $98k at 3.25% with 12+ years left. I think I am better off withdrawing the money and just paying of my mortgage.

Comments, suggestions§?

[21forme]

suggestions§?

How about proofreading your posts before posting them?

[BJGenius007]

Through Edward Jones, I had about $79k invested 65:35 in Bonds and stocks. The total amount 2+ months later is $69k (loss includes small fixed fee).

The advisor says to stay with that ratio, that the market always comes back up. She even suggests I buy more stocks. My instincts tell me it just might not come back up to even in my lifetime.

I still have a mortgage, balance of $98k at 3.25% with 12+ years left. I think I am better off withdrawing the money and just paying of my mortgage.

Comments, suggestions§?

You are too old to hold 35% in stock. The ideal ratio is 15% stocks, 20% bonds, 5% precious metal and 60% money market/cash.

You are also too old to be not mortgage-clear. Sell a lot of your stocks and some bonds to pay off all mortgage immediately. You may have three days at most to avoid the stock market crash.

[Banker]

Most importantly do not get financial advice from anynomous posters on the internet, particularly in a time like this.

[ZeeBabar]

You are too old to hold 35% in stock. The ideal ratio is 15% stocks, 20% bonds, 5% precious metal and 60% money market/cash.

You are also too old to be not mortgage-clear. Sell a lot of your stocks and some bonds to pay off all mortgage immediately. You may have three days at most to avoid the stock market crash.

Thanks, will follow advice. The Edward Jones advisor is telling me Zi am making a big NRI’s take, stocks will rebound as they always do. I hope she will close the account tomorrow and start the process to get me back the money.

[Midwest Player]

Zee, tomorrow might be a bad day to sell. The vote in the Senate failed to move ahead with the relief package, and right now stock market futures are down the limit. If they can't come to an agreement overnight, tomorrow will be a blood bath.

[ZeeBabar]

Zee, tomorrow might be a bad day to sell. The vote in the Senate failed to move ahead with the relief package, and right now stock market futures are down the limit. If they can't come to an agreement overnight tomorrow will be a blood bath.

What are my options?

[Meistro123]

Honestly, your stocks are going to keep going down until a vaccine or cure is discovered.

[ShipTheCookies]

Honestly, your stocks are going to keep going down until a vaccine or cure is discovered.

Highly doubtful you'll ever see a cure for anything anymore. Drug companies and their lobbyists just won't let it happen.

[Eye of the Eagle]

What are my options?

You can take up cliff diving or find yourself a short rope or quit worrying about it. Don't you know the market is nothing but a big casino that is rigged for the little man.

[Casinoguy13]

Buy stock.

[Casinoguy13]

You are too old to hold 35% in stock. The ideal ratio is 15% stocks, 20% bonds, 5% precious metal and 60% money market/cash.

You are also too old to be not mortgage-clear. Sell a lot of your stocks and some bonds to pay off all mortgage immediately. You may have three days at most to avoid the stock market crash.

This is horrible advice. Sell your stocks in bear market?!?!? The goal is to buy low and sell high. Not the other way around. The intelligent investor buys from the pessimist and sells to the optimist. This is the time you want to be holding stock. It’s too late to sell.

[Goatlife]

Rebalance the portfolio and go 50/50 stocks and bonds. Look at ur accounts and if ur paying a wrap fee and u own mutual funds in there make sure they are institutional share class and not just a shares. Look them up and see if there is a 12b-1 fee ( look the find up on yahoo finance). If there is pull the account and go somewheee else and tell them u want 50/50 account with etfs for equities and institutional share classes for the bonds. It’s not enough money to do something else with.

thus is not advice this is just what I would do in this situation.