How much is your retirement account down?

I tried to warn my friends about the coming crash but they didn't listen the entire time.
Now one of my friends retirement account is down 23% as of today.
I've heard people being down over 50%.
Mine is actually up slightly since I have nothing in the stock market since December.

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Zaxel · 26-30, M

down 8%, i had 60% in fixed income and 40% in equities. im now back to 80% equities and 20% fixed income. i dont see any reason to keep that much cash right now, the market can rebound in a month or two

Earthwrap · 41-45, M

@Zaxel It can but the probability is extremely low for countless reasons.

Zaxel · 26-30, M

@Earthwrap why do you believe that is? I don't see any real reason why it couldnt rebound as soon as we here news of slowing down cases. economy could be functioning normally by Q3 or Q4 2020, and once we get a sense that'll happen, market itself could rebound somewhere in Q2

Earthwrap · 41-45, M

@Zaxel Well the biggest reason is millions of job losses. recoveries take MUCH longer than crashes. There is much more to it than you think.

Zaxel · 26-30, M

@Earthwrap i think youre severely underestimating how well i understand the markets,
the huge spike in job losses is a bad thing for sure but business reinvestment would increase once coronavirus fears are assuaged. that would trigger spending/hiring again. the governments are also taking an attitude of 'whatever-it-takes' to make sure the economy gets back on track too. id argue its actually riskier to keep a large % of cash in a portfolio because its very likely inflation will rapidly increase after all this is over.

Earthwrap · 41-45, M

@Zaxel lol, ok millenial.

Zaxel · 26-30, M

@Earthwrap why dont you explain your thoughts instead of criticizing me and my age as a defense mechanism, i think you shouldnt mistake luck as a substitute for knowing what youre talking about

Earthwrap · 41-45, M

@Zaxel I don't know you, I have no reason to help you at my own expense (rule one when it comes to stocks). I've been doing this well beyond you.

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