What to do

jdcobra

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So my father will be 59 this year and he had a decent amount of money invested that kind of took a hit like I’m sure a lot of other peoples did. He was also putting in money each paycheck for FedEx’ investors to invest in. I can tell he’s stressed and it pains me because I love him to pieces and just want him to be able to retire without worry.

Has anyone here had to recently go through the market crash or lost a big chunk of retirement savings due to COVID possibly have any advice for me to help him get back on track?

Any and all help is greatly appreciated.
 

Blk04L

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1. Wait it out.
2. After the last recession of 07+, my father took control of his retirement funds. Did a lot of research, some luck and some failure, but overall has seen a very health rebound ever since becoming the "money manager" for his retirement.
 

COOL COBRA

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First off, kudos to you for being concerned about your pops. He should be proud of you.
As said, waiting it out is about the only course of action for him.
If he hasn't already, suggest to him to seek out a financial planner. He might be in better shape financially than he thinks. Maybe that'll ease his mind. And also, a planner might give him more insights on strategies.
 

jdcobra

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Thanks everyone for your input, it’s much appreciated.

I told him to not do anything irrational and will be trying to seek out someone who’s a professional to better help manage his money. He isn’t really tech savvy so I’m doing what I can.

If there’s anyone here who uses someone reputable in the Houston area, please let me know. Thank you.
 

Adower

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So my father will be 59 this year and he had a decent amount of money invested that kind of took a hit like I’m sure a lot of other peoples did. He was also putting in money each paycheck for FedEx’ investors to invest in. I can tell he’s stressed and it pains me because I love him to pieces and just want him to be able to retire without worry.

Has anyone here had to recently go through the market crash or lost a big chunk of retirement savings due to COVID possibly have any advice for me to help him get back on track?

Any and all help is greatly appreciated.

What was he invested in?

I invest primarily in the s&p500 and the market is basically back to where it was pre covid 19. I was down close to 90k when the s&p 500 dropped to 2300 points.

It’s hard to say what he should do not knowing what he is invested in. However, waiting it out is probably his best bet.
 

03Sssnake

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not at my post...
Wait it out...

worst thing you can do when it comes to investing is trade based on fear / emotions.

Me personally, not a fan of fedex stock

exactly, wait it out, its only gone if you move money out of those investments...though I would diversify all future contributions into other funds.
 

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