Corona Virus Updates Part 3

Serious question on the stock market thing. I am not up to date on how it all works. Hopefully someone can clue me in a little.

My father passed about a year and a half ago. My mom inherited his 401k. There is a chunk of money in there. I think most of it still is in company stock. She has taken some out, which is required I guess.

If the company stock starts to tank, I assume the total amount there will go down. Am I correct in that?

Should I have her look into taking the money out, before things go down? I know taxes would have to be taken out of it, but is there any penalty?

originally posted by: JoeRivers
Fricken great....my super skeptical roommate has "walking pneumonia".

Nuke him from space... its the only way to be sure.

a reply to: Advantage

Only worry I have is my Mom just got over lung cancer and father has asbestos in his. Even a flu for them is dangerous. Hope it blows over soon 👍

a reply to: MrRCflying

Most financial advisors will tell you to leave the stock alone...as it will eventually come back.

originally posted by: Advantage

originally posted by: JoeRivers
Fricken great....my super skeptical roommate has "walking pneumonia".

Nuke him from space... its the only way to be sure.

Its a her...and she's a lunch lady that serves over three thousand kids a day...

I went to Home Depot & Lowes yesterday...not masks left & both stores
had a sign posted limit 10 per person. Clerks said there was a rush & people
were sending them to China.
I wonder how many masks a person needs? In case family else where needs some.

I have masks plus a half facepiece respirator with 2097 p100 filters...
I am immune compromised & lungs are still healing.
I have 4 full suits too, goggles. gloves. Try to find odor free disinfectant,
found Lysol Spray odor free. Can I use that to spray money?

I will be getting food supplies tomorrow, I cannot carry much because I have to
move 20 March to another campground. Water & extra dog food weighs alot
plus canned goods...rice & beans I never eat but will buy what dried food I can afford.
It really sucks to be stuck in a campground with people coming & going. At least the new one
only has 8 spaces & is on a farm. I am in Virginia. Thank you to ALL providing such valuable info!
Cheers
Ektar
Everyone stay safe!

originally posted by: EricEdert
a reply to: Advantage

Only worry I have is my Mom just got over lung cancer and father has asbestos in his. Even a flu for them is dangerous. Hope it blows over soon 👍

I knwo that worry.

My middle daughter died right after turning 20 recently.. no immune system and very ill. Born with liver disease, transplants and immunocompromised. I worried over everything concerning her. Fortunately observing normal protocols and when chances were greater for flu or etc.. stepping up protocols a little. SHe came through those times fine. Just use common sense and go the extra when its times like these.

originally posted by: Ektar
I went to Home Depot & Lowes yesterday...not masks left & both stores
had a sign posted limit 10 per person. Clerks said there was a rush & people
were sending them to China.
I wonder how many masks a person needs? In case family else where needs some.

I have masks plus a half facepiece respirator with 2097 p100 filters...
I am immune compromised & lungs are still healing.
I have 4 full suits too, goggles. gloves. Try to find odor free disinfectant,
found Lysol Spray odor free. Can I use that to spray money?

I will be getting food supplies tomorrow, I cannot carry much because I have to
move 20 March to another campground. Water & extra dog food weighs alot
plus canned goods...rice & beans I never eat but will buy what dried food I can afford.
It really sucks to be stuck in a campground with people coming & going. At least the new one
only has 8 spaces & is on a farm. I am in Virginia. Thank you to ALL providing such valuable info!
Cheers
Ektar
Everyone stay safe!

Look into VitalOxide for a disinfectant. I have a fogger to use it in, but you can also use it in a spray bottle. They claim it has no smell, but it smells a little like bleach to me. It can be used on most anything. I would think money would be fine.

originally posted by: MrRCflying
Should I have her look into taking the money out, before things go down? I know taxes would have to be taken out of it, but is there any penalty?

I cashed out a 401-K several years ago when I got divorced. Yes, there is a penalty. You basically have to pay the taxes that you didn't pay before, plus additional fees.

That being said, it's better than nothing, and if you're struggling to make ends meet is a nice injection of cash liquidity.

Hopefully most people won't do that, though, because that would be bad. Very bad.

originally posted by: JoeRivers

originally posted by: Advantage

originally posted by: JoeRivers
Fricken great....my super skeptical roommate has "walking pneumonia".

Nuke him from space... its the only way to be sure.

Its a her...and she's a lunch lady that serves over three thousand kids a day...

Definitely nuke the disease vector lunch lady!

** Probably too young to get the reference I was making**

a reply to: MrRCflying

Grain o' salt time.

It depends on so many factors that you didn't (and probably shouldn't) list, but it's almost always bad to take "everything" out on a down. Some factors to consider (please don't share here. I am NOT a financial advisor and sharing too much publically is generally "bad.")

1) How much of her 401k is in Company stock and how much of it is in a diversified range of funds and other investments?

2) What is the outlook of the company your dad worked for? Are they on solid ground or are they like AT&T in 2007?

3) How much does she take each month vs. the total amount?

Generally speaking, if your financial advisor is worth anything at all, she is in a fairly low-risk category for her portfolio. It is likely made up of a very diverse assortment of low-risk holdings and by that, I mean conservative risk vs. reward.

I am 51. Ours is medium or medium/high risk depending on how you look at it. We have a decade or more of saving to do before we rely on our investments for income so we are prepared for ups and downs. We prepare for BIG ups and downs by ensuring our investments are highly diversified and our eggs aren't in one basket.

Your mom is probably operating from a far more conservative place. Ask her. If she doesn't know, help her find out. She ought to receive monthly statements. Look at them together and call the number on those statements if you have any questions.

They may CLOSE THE MARKETS.....?


www.cnbc.com...

originally posted by: Blue Shift

originally posted by: MrRCflying
Should I have her look into taking the money out, before things go down? I know taxes would have to be taken out of it, but is there any penalty?

I cashed out a 401-K several years ago when I got divorced. Yes, there is a penalty. You basically have to pay the taxes that you didn't pay before, plus additional fees.

That being said, it's better than nothing, and if you're struggling to make ends meet is a nice injection of cash liquidity.

Hopefully most people won't do that, though, because that would be bad. Very bad.

Thanks. She is doing okay right now. I just did not want her to loose out on a big chunk of what is there, if things go south.

originally posted by: 0zzymand0s
a reply to: MrRCflying

Grain o' salt time.

It depends on so many factors that you didn't (and probably shouldn't) list, but it's almost always bad to take "everything" out on a down. Some factors to consider (please don't share here. I am NOT a financial advisor and sharing too much publically is generally "bad.")

1) How much of her 401k is in Company stock and how much of it is in a diversified range of funds and other investments?

2) What is the outlook of the company your dad worked for? Are they on solid ground or are they like AT&T in 2007?

3) How much does she take each month vs. the total amount?

Generally speaking, if your financial advisor is worth anything at all, she is in a fairly low-risk category for her portfolio. It is likely made up of a very diverse assortment of low-risk holdings and by that, I mean conservative risk vs. reward.

I am 51. Ours is medium or medium/high risk depending on how you look at it. We have a decade or more of saving to do before we rely on our investments for income so we are prepared for ups and downs. We prepare for BIG ups and downs by ensuring our investments are highly diversified and our eggs aren't in one basket.

Your mom is probably operating from a far more conservative place. Ask her. If she doesn't know, help her find out. She ought to receive monthly statements. Look at them together and call the number on those statements if you have any questions.

Thank you! I know some is diversified, but I know dad had at least 50% in the company stock. She kept it that way, as that is what he wanted. She takes a yearly lump as required I guess.

The company is good right now, but they do have facilities in China, Mexico, other places. So I am not sure how that will work out in the long run.

Mom is 86 now, and still functioning well, but I know the 401k thing confuses her. She just takes what they tell her needs to be taken out. Guess I will have to study up some on it.

a reply to: MrRCflying

It’s still a little to soon, for us to lose our.... What we need is something to balance this out... Some kind of good news or something.. At the moment the scale is very unbalanced. Thou probability continues to expand each moment this virus replicates not only to infect more but to mutate. The negligence in this is not only the Chinese, allowing this to spread for whatever nefarious emotional reasons, and allowing it to become a pandemic, but how our institutions reacted to it, how our leaders of the world responded to it. The irony is the world we have been taught to live in is delicate, it took us many years of evolution to discover it, yet it also took a part of who we were, a part of our humanity, and we can see absence of it in this current tragedy. I dunno, how this ends, I think there still might be a little bit of time left for some good news to arise. Let’s hope it does.

originally posted by: celltypespecific
They may CLOSE THE MARKETS.....?

Oh for the love of Pete! They're not going to CLOSE THE MARKETS. Nowhere in that link is such a ridiculous idea mentioned. The Feds may cut rates, likely they won't, but they may. Goddamn, other people's children...

An excellent video (and one hell of a ride)

I am not a virologist, but I am a life-long biologist. And I can read about stuff.

Long story short: It seems likely that the virus 2019-nCoV is a highly virulent virus that was accidentally released from a laboratory in Wuhan, China. It’s unfortunately hard to get reliable numbers simply because they seem to change all the time. So far, it doesn’t seem to be going away like 2003 SARS-CoV did. Therefore, it is warranted to stay aware and alert as the story evolves.

sky link


UK starting to talk about what could happen.. I don't see that panning out too well!

originally posted by: burdman30ott6

originally posted by: celltypespecific
They may CLOSE THE MARKETS.....?

Oh for the love of Pete! They're not going to CLOSE THE MARKETS. Nowhere in that link is such a ridiculous idea mentioned. The Feds may cut rates, likely they won't, but they may. Goddamn, other people's children...

I think the markets are going to explode. Or more like... e-commerce is and will explode. No one wants to handle the dirty dirty money or go to the dirty dirty walmart.

It seems that this thing can reinfect you ...

Because antibodies are eleminated.

So, how can a vaccine work ? Seems impossible to me....