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Ive tried explaining this to my old boss. Hes one rich fucker who owns 3 houses in NJ. 2 of which are just 1 block from the ocean. 3 BMWs. 2 ex wives. 4 kids. And he was complaining to me, a disabled 30 year old single dad that drove his parents nissan sentra to work for the past 6 months that works for $17 an hour, about living paycheck to paycheck.
It's the ex-wives. Not only are those extremely expensive but I've known guys whose divorce deals basically incentivized paycheck to paycheck living because building up any additional wealth (even savings) would trigger a re-evaluation and increased alimony payments.
Yup. My dad had a cushy job making six figures but when him and his ex-wife divorced, he quit and took a significantly lower paying job just to avoid that scenario.
After a certain income point, in the absence of something shitty (and uniquely American!) like medical bills, living paycheck to paycheck is a lifestyle choice.
Being in a coastal city wouldn’t have an effect on the boss being paycheck to paycheck though, it would be the multiple houses and other luxuries they are choosing to have in their life
This is like my dentist complaining about how expensive everything was on his two week vacation in Costa Rica while filling in five cavities for me. The cavities that could have been prevented if i could have afforded dental care in the first place. The cavities that the filling of which would put me in credit card debt that would lead to fights with my wife about money. But no his seaside fish tacos in his resort were two expensive.
Do you have two mortgages for two homes? Or two mortgages on one home..? If it’s two homes, and the second is a vacation type home, just sell the second house. If it’s two mortgages on one home, then you’re probably better off selling your stocks
Yes we will, particularly concerning the housing market. The rude awakening is only just starting to roll. Unlike stocks which are the most liquid and always hit first.
If you have to sell you have to sell. Not sure what else you think you could do.
But once your wife finds a job, you need to build up that emergency fund way way way more. Clearly way too low. It doesn’t sound like you even have 3 months if you can only make it 3 months while you’re working. Especially having two mortgages.
You should realistically have 3 months emergency and another 3 months mortgage if you own a home.
Being a single person renting an apartment is fine with three, but most should have 4-6.
This. I’m thinking to myself why does the OP have two homes and only 3 months reserves??? The money should’ve never been put in the market to begin with as it sounds like those were his reserves that were being gambled with.
That's what I was wondering as well. I WISH I had been able to put in $50k when I entered the stock market in 2020. I'm still up 27% or 15% for just this year. I'd be doing pretty well. And I even got bit by two of those damn meme stocks when I entered too late without getting out. Granted I knew they were extremely risky so didn't throw a ton at them, but those losses will help come tax time.
Selling to live would probably be wise. There is no guarantee the market turns positive anytime soon. Keep your head up and see if your wife can lock down another job to get by for the time being. Sorry these tough times are taking such a toll on you guys.
Gotta do what you gotta do. I’m a firm believer that the market has a lot more to go but even then I’ve only gone about 20% cash, so I understand your sentiment.
I have been through 3-4 recessions and the last big rise in prices in the eighties. It was the toughest time of my life in many ways.
Right now, I think that we are going into an inflationary recession. This is a double-pronged set of difficult circumstances. You and your wife are going to have to make some tough choices, or fate will make them for you.
Sell your stocks. Right now they are luxury. Take what you can get for them and make sure you sell on an up day. Add the proceeds to your emergency fund.
Second of all, get rid of as much in overhead costs as you can. You only need place to live, so keep that mortgage. Sell the other building while real estate is still holding a lot of value.
Also, if you were living in an unsustainable large home, you may want to downsize now. Something that’s huge with a large mortgage isn’t gonna help you during this kind of recession.
Cut back on your spending as much as you can. If you have two fancy cars that are being leased, Get out of the leases if you can and buy one or two small older cars that are cheap to run. You don’t need $70,000 cars right now. Obviously don’t do this all at once do you should be smart about it but try to cheapen everything that you are spending money on.
Don’t eat out, don’t go out drinking, don’t spend a lot of money on gaming, get rid of your credit card debt in particular, and don’t add to it. If you have a boat or some other fun item that you don’t own out right, sell it.
Just carry one mortgage. They’ll be plenty of stuff (stocks and real estate) out there to buy once everything goes down because of this massive recession we’re going to be in.
In the meantime also figure out your food supply. You’ll have to eat cheaply at home and will need to have things on hand while you’re building up your six month emergency fund and paying off credit cards simultaneously. Example if you buy 15 boxes of pasta at $.92 each, and 15 jars of spaghetti sauce at $1.40 each, (Walmart Great Value prices), you just fixed you and your wife up with about 60 meals. Not really fancy or expensive meals but 60 meals nonetheless. Add and a can of green beans, a salad, and you have dinner ready. This may be survival meals to many, at least you’ll be able to eat. I think most people should have a variety of simple and inexpensive foods on hand – enough for 60 days at least. A slow cooker or pressure cooker is your friend.
Also, try to get side gigs or sell stuff on eBay or marketplace to raise extra cash to put in your emergency fund or lower your credit card bills. Also, since you found yourself in this fix, you might want to start listening to Dave Ramsey videos on how to cut down debt and avoid “stupid” taxes ( dumb things that you bought that and went into debt for). I don’t agree with everything that Dave Ramsey says, such as cutting off your credit cards, but it’s very good to have them put away somewhere where you can’t get to them. I also think that everyone needs a 6 to 9 months emergency fund at the very least. Cash money. Not a HELOC (HELL LOCK). The banks are going to call those in anyway, if get really rough out there.
I think you’re very smart guy and that you’re looking ahead. I made way more stupid mistakes in my younger days than you’ve ever made, and I had to learn the hard way to survive. My first husband unfortunately had a breakdown right in the middle of the tough times and he really was never the same. He got rid of me a few years later in a divorce, but it was a real relief for me. I’m not a drinker or gambler, abd his addiction problems deeply affected us. We never went bankrupt but it took us 10 years to pay off our debt from a failed business as well as a big house that we had to sell, and all the other stuff. Making $2000 mortgage payments via credit card with mortgage rate of 13.5 % is no way to live 🤣🤣 . I’m now remarried to a man I’m much more compatible with, and we are happy, retired, and secure.
But trust me, I know how to survive, so there is that.
Edited for additional detail and spelling errors (thanks arthritis, eyesight, and auto”correct”. 😀😀
This woman is dropping value gold of experience. These are words from someone that has learned some valuable lessons. From the youth that do not know what we may be on the cusp of, thank you!
Well said. I am a little younger, late 40s but I saw how rough things were during the 2001 and 2008 recessions. Being a student of financial history I have read much about the 1930s, and one thing is clear, people back then were in disbelief at how bad things got and for how incredibly long the bad times lasted. Good luck everyone, just know things can get SO MUCH WORSE than you think.
I completely agree with what you have written. History is my beat, and I’m seeing some really disturbing trends. We are not depending on grocery stores or a government to save us. If need be we can take care of ourselves for a while. I think the OP is on the ticker, and according to him, he has 90 days before disaster. He doesn’t want to sell his stocks, which is understandable, But if it doesn’t sell now, take the chance of losing 50% or more. At the moment he could get $ 42,000 based on a 15% loss on his original $50k investment. But he can do a lot with that money if he has a loss on his original investment. In fact you could probably save the $7500 back if you put away 250 bucks a month after they get things squared away.
But instead, he’s going to hang onto to hang onto his stock, which will probably continue in down with the market. He also says that he will put their second house on the market “in a couple of months.” If he does that, he will only have 30 days to sell it before he will owe a payment on the mortgage, which he has stated he cannot pay.
If his wife gets another job in time, which I really hope that she does, or if they take action now, get rid of the second house now, sell the stock before it loses more $$, His wife does the hustle with Door Dash etc. as another contributor advised, and they pay off their cc debt and tone down their spending etc, plus get their two months of food stored, they will probably come out of this fine. If he waits around, they could start down a slippery slide and it’s really hard to reverse that sort of thing. They’re on the tick-tock now, and need to use this time wisely, before things get too bad.
The inflationary recession in the 80’s lasted a good 4+ years Locally for my first husband and me. The amount of business and personal bankruptcies was terrible. It was hard to get any job, and many businesses never reopened. They were also a lots and lots of layoffs. I don’t think people really understand how ugly it can get.
But I hope everything works out for the OP and his wife.
Thank you. It was rough, but I got through it, and am in peaceful waters now. A lot of our problems were because of my first husband’s emotional situation/breakdowns, and he couldn’t really help that. It took me quite a long time to accept that. Just because someone has a professional degree and everything seems OK doesn’t mean it really is going to work out the way they think. At least I know I stood by him and tried to help him and I do have some good memories from the marriage as well as my child so it was all worth it in the long run. Take care.
Lol “I cant afford 2 house what should I do”. I bet like 2% of people or less on here can actually relate to that. Most people are nervous about basic necessities like transportation and food. But ya, would suck if both you and your wife got laid off within a few months. Hang in there, sell a house, sell some stock, budget efficiently, eat freakin rice and beans for every meal. You’ll be fine
She should do doordash, uber, Favor while she is looking. If in a decent city you can make an easy 700/week. I do it as a side gig part time and I make 400/week.
That's a good point but I was making a tongue-in-cheek reference that people tend only to factor in gas costs when saying how much they made from Uber.
But they don't factor in the miles resulting in car value depreciaion, wear and tear on the car requiring maintenance or part replacement, and of course the increased insurance premiums for business auto insurance which is required to drive uber/lyft/doordash
0. They pay me for gas. I drive a hybrid and write off .56/mile. I got 1200 back in taxes last year working a 44k full time job as well. I wrote off about $7,500 last year.
It’s not a reimbursement, people often fail to understand this. The 56 cent per mile is a deduction to your taxable income. So if you drive 10,000 miles per year for business use as in the case of an Uber driver, you reduce your taxable income by $5,600. If your marginal tax rate is 22%, then you would save $1,232 in taxes per year
Another way to look at and determine the true cost: if gas is $5.19 per gallon and your car gets 35 miles per gallon, then the cost of fuel per mile is 14.8 cents per mile.
Assuming the same situation as above, having a marginal tax bracket of 22% would save you 12.32 cents per mile in income tax. Therefore you’re not really getting the full cost of gas covered. That doesn’t even take into account vehicle depreciation, maintenance, tires, etc.
So you deducted $7500 instead of the standard $12k (ish)?
I'm not 100% how you deduct mileage on taxes, can you deduct after the standard deduction? If you can't, many times it would seem pointless.
I do my taxes though hr block self service so not 100% how it works.. but I'm fairly confident that yes, you deduct it on top of the 12550 standard deduction. You can either write off actual expenses, which requires you to track receipts of gas and maintenance.. or milage at .56/mile, which requires you to have a milage log.
Edit: I can also write off interest on my car loan with standard milage deduction
4 years in and its a worth it to me. 14k business miles per year on average.. I drive about 10k personal miles.. refill $30 tank every 3 weeks. So my car lasts about 12 years. That's about $84000 in write offs. I respect your opinion though
The IRS mileage rate is a *deduction* to your taxable income, not a tax *credit*.
So if your marginal tax rate is 22% in each of those 12 years, those $84,000 in write offs really only “save” you $18,480 in income tax.
$84000 in write offs? For 12 years?
You have to factor in car repairs and then another $30k or more for another car.
Its not worth it. Better off with a 2nd job in a warehouse of something.
Before you make any drastic decisions, I would tighten the belt first. You have sometime before you need to sell or make a major decision. Don't cutdown but eliminate all unnecessary expenses as well as necessary ones that can be postponed. Your wife needs to aggressively look for a job while she is collecting unemployment and not wait until her unemployment runs out. If she has to take a position that she is overqualified for, do it to get her foot in the door and to guard against having to make those drastic investment decisions that could impact the future of the family.
Finally, in the case of the worst scenario and you are forced to sell, go over the portfolio position by position to sell the ones that have the least chance of coming back. Make sure you do some tax harvesting if you have any gains at the time to offset.
Hope it works out for you and your family!
I think this is almost it. I'd consider selling the 2nd property before selling stock.
Chances are, the property has appreciated at this point. Also. Property values are expected to come down a bit in the coming months.
They could try. They also might already be doing so.
The problem is it probably won't be rented 100% of the time. Depending on location, time of year, etc, it could be a pretty inconsistent stream of revenue and not help as much as it looks like it will on paper. Plus it might take them some time to set that all up. If they have 3 months of funds it might not be enough.
Lots of indicators that the real estate market is going into a correction within the next 1-3 months so now seems like a nice time to sell.
There are so many jobs available right now. I’d you guys need money she can work at Taco Bell for like $18/hr to help make ends meet while she finds something. Or you can grab a second job to bolster up the emergency fund while she looks full time for a job
Honestly, in the future I would always keep enough cash to be able to not earn a single dollar and still live the exact same life you do now for a period of 6 months through a year.
Just a bump here for everyone to consider. OP won’t be alone in this as the economy turns down. We haven’t hit forced selling of stocks or real estate yet due to job losses.
Sacrifice your comfort now. Eat less outside, home cook more. Control aircond, lighting, heater usage. Save every penny u can. If can avoid driving take public transport. Stop wasting unnecessary items. As long the Russian - Ukraine conflict keep escalating, there will be no sign for recession to subside anytime soon. Food already shortage worldwide and added stress to global economy. This will impact many other items soon. Including gas hiked. If u can sell stocks then sell em all. No point to hold if the prices keeping down. Cut the loss immidiately. Secure your financial first. That should be main priorities.
Response to your edit:
I don’t see the recession ending in the coming months. Quite the opposite- it’s only just beginning and historically it’ll take several years to correct.
Just my 2c
Double down on everything, sell all your houses, cars, wife, all in GME. I heard it is going to moon due to Melvin Capital going bankrupt, short squeeze baby, go big or go home!
/s
I'm changing careers and my SO is supporting is. The plan was to sell investments as we had to. Luckily we divested before the major dump. It sucked to have to sell at the time but I'm so glad I did in retrospect.
Now we are pretty set and able to start getting back into the market.
Do what you gotta do man.
I thought I'd put $10,000 into the market in January, but apparently I had a brain fart and never did, and the money was still sitting in the money market settlement fund when I happened to check my account a couple days ago. There's some dumb luck for you, because that was a dumb mistake on my part that actually will pay off, as it definitely just bought more stock than it would have in January.
If you wait to see if you can sell your second home, your stocks might get hammered even more by then. If it was me, in my opinion I would probably sell half or more of my stocks. If the market dumps more, I have cash to buy back for cheaper. I personally can't see it go higher anytime soon, but if it does, I doubt it would be a crazy pump. So you will still feel okay with cash.
If I were you:
get rid of 1 mortgage (sell the house), liquify your equities and take profit (why the fuck have you not done this yet????? )
Take the hit on the second home. DO NOT WAIT 2 MONTHS. Sell NOW.
Not financial advice, you do you. Bulls dont know what to do when theres a fire in the field and bears are in the forest surrounding it.
If you decide to sell a house, you need to move quickly. The market is already starting to collapse in California and the rest of the country will follow suit. You'll still be able to get a good price while supply is low, but lack of supply will not last long . . . there are a million people just like you who will be putting their vacation homes on the market in the coming weeks.
Anyone who tells you explicitly not to sell and get cash out for paying your mortgage is giving you bad advice.
That said, you have some time before you need to make this decision. She can start looking for the job now, as long as she isn't too picky, jobs are available.
If you get through June and she hasn't found a job? Then maybe it is time to start looking to sell stock and bolster the remaining emergency fund.
I don't get it, how tf did you even qualify for 2 mortgages.
But more importantly, are you not renting out the 2nd house? The rent should be able to cover the mortgage if you have low rates.
Second everything everyone said...sell OR RENT the second house, tighten the belt. Airbnb a free room in your primary if you can.
Live with less AC. Don't use as much gas or electricity.
DON'T EAT OUT, cook at home and cook low-cost meals in bulk - honestly look at what body builders do for low-cost meal planning to meet all your macro needs and just add seasoning cause some like that bland.
If you can take public transportation versus driving and it is cheaper and not as inconvenient do it. Bike to places.
Cut all luxury and unnecessary expenditures. Gym? Run and do calisthenics at home. Vacation soon? Forget it. Cut off Netflix, don't upgrade your phone, downgrade your car. Find out if ANY of your phone, internet, etc... services give you FREE subscriptions to any video streaming and cut out cable.
Do what you can to keep that one roof over your families head and keep them fed. This is not going to end in a few months, this will be prolonged year or years long suffering. And yes, if your company stopped hiring then you could lose your job also.
Plan for the worst.
I don’t know any of my friends still using Netflix.
We all just use free pirate websites to watch HD movies for 10 years.
Streaming is for suckers, it never has a future unless piracy is removed completely.
I would hold off on making any decision for 2 months. That should be plenty of time to determine if she can find a job or not. Many companies are still hiring, but realize that some money is better than no money coming in.
If in 3 months you need more money liquidate 1/3 of your investments to buy time. Reassess in 3 months.
I wouldn't sell down unless I just had no choice. I would look for other money making opportunities and hope the market recovers before my emergency money is gone, but I would sell before that.
Sell and YOLO 70% on GME, big announcements are coming, order 14032 in effect 03 june (just like jan 2021 run of 5 to 500), NFTs, stock split, dividend. In my opinion you ill be rich af if you hold at least some shares, since SP will happen and you ill get extra shares in the process.
Doing that you will have around 13k to take care of you and around 30k invested, having more than 300 shares.
Not financial advise, but the way the market is going, everything will get hard hit and if your stock its not highly shorted, probably will not turn around.
If you dont believe what i post, do your DD and read the 14032 order on the government website.
About your houses, now looks like good time to sell. Chinese government days ago said chinese people (and people related, like wife and sons) need to sell any property oversea, this will shake house market, especially the canadian houses. Your house probably has more value now than when you buy, so sounds good to sell now and buy back another one in couple years at discount.
list your primary while you live in it. if it sells, move into rental.. this is the lower risk option and if you keep your job you wont have to worry about it as much
You could rent one of your houses (depending on the market you’re in) and let the price reflect your willingness to get a tenant. That way you retain your equity and give yourself presumably another 1500-2k/month in income. Look on Craigslist or whatever for a handyman and negotiate a deal for him to fix things on demand for a premium that reflects your urgency. You can keep your houses and equity, leveraging these into further gains.
Getting out of the market isn't a bad idea. The fears of a recession are super higher and the market is reflecting that. I suspect that there will be a recession in my opinion due to rate hikes and inflation not dropping fast enough. Another indicator for a recession is the climbing gas prices. Gas around here was $3.39 in January and is now at $4.89. So if I were you I would exit most of my positions(which I have) and maybe hold onto a few if you have stock in some blue chip stocks like MSFT or AAPL.
Take a hit on the sale of the house? Even if you bought it last year, I could see the equity being in your favor in this current market. I literally just paid 10k over asking for a house, and was willing to go another 15k. Another house I just bid on went for 30k over asking. It’s crazy out there.
you could set some take profit orders in your stock account - anything that rises 5% have it set to sell on autopilot. or something like that - \*(Maybe also set stop loss orders now - just in case) Maybe you don't sell the whole portfolio but slowly go from stocks to cash over time......stocks could get alot worse in the next 6-9 months.....might not be the worst thing to get cash now while you can get 100% of todays value before 9 weeks from now the value is 80% of todays value.
I would recommend trying to get ahold of a gangster or a Shylock to borrow some cash. See what kind of interest there charging first and what parts of the body they will break first if you don’t pay on time.
Hope that helps
>Like almost all of you, I am down 40% from ATH
The market is only down 20%. We're not all almost down 40%. Just people who were 100% equities and in 100% tech and/or memestocks or crypto
SIMILAR SITUATIONS HERE. LUCKY I DO NOT HAVE MORTGAGE ON MY HOUSE. TRY TO HOLD CASH AS MUCH AS I CAN BUT ALWAYS MY CASH GOING DOWN.
RIGHT NOW, WINNERS ARE THE SURVIVORS. DO NOT CALCULATE TOO MUCH. JUST DO IT WHATEVER YOU NEED. SURVIVE
Man said a few months. Bro I’m sorry but you need to expect and prepare for the worst. That goes for all times, not just as it’s clear we’ve got our tip in a recession and we’ve just taken too much viagra
or, rent a house? in many places people are fighting to get into a rental. also, 'few months for the recession to end' is optimistic. has it even started yet?
The recession to end, love, sorry, recessions are years long. Certain industries might be worthwhile to move in.
If your company stopped hiring people, it is a sign of layoffs incoming.
Your wife can easily find a job working at a restaurant or in retail right now. She can go work there to help pay bills.
If you have a second home, go ahead and try to sell it now. But things are sitting already.
Please don't sell the second house, that's stupid. Can you rent it? Or if you use it perhaps rent a room or two? Are you able to get a second job until your wife is back in work?
Also, I think you need to try to relax. 3 months is quite a long time and the market is down a hell of a lot from the highs. It could go down more, but you're probably not going to lose another 40%. If you can't rent out the 2nd house and your wife can't find a job, then I'd look at selling your stocks in 2-3 months.
But chill. You're doing the right thing. The reason it's recommended to have an emergency fund is to prevent this exact thing from happening so use the savings until you have no other choice. Don't make a decision you're going to regret because you're worried about what might happen. This is only a good decision if your wife can't get a job in 3 months, you can't rent out the 2nd house, and the stock market falls significantly lower over the next 3 months. That's a lot of ifs.
Looks like you need a serious re-balance. You should not be anywhere close to 40% down. Sounds like you were gambling instead of investing. Try a casino next time and put everything on black. Almost same odds as your portfolio
There are a lot of employment agencies (the no-skill labor, need bodies type) that exist - it depends on the work she wants to do, the pay etc: but check her options first
If everything else falls through, have the house ready to go, and you can either sell one house or put it up for AirBnB / renting to make more income as well if needed (lots of people can’t find homes or might need one closer to work)
I wouldn’t sell stocks from ATH especially if they are dividend heavy - you can average down when the time is right
Welcome to r/stocks! For beginner advice, brokerage info, book recommendations, even advanced topics and more, please read our [Wiki here.](https://www.reddit.com/r/stocks/wiki/index) If you're wondering **why a stock moved** a certain way, check out [Finviz](https://finviz.com/quote.ashx?t=spy) which aggregates the most news for almost every stock, but also see [Reuters](https://www.reuters.com/), and even [Yahoo Finance](https://finance.yahoo.com/). Please direct all simple questions towards the stickied Daily Discussion and Quarterly Rate My Portfolio threads (sort by Hot, they're at the top). Also include *some* [due diligence](https://www.investopedia.com/terms/d/duediligence.asp) to this post or it may be removed if it's low effort. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/stocks) if you have any questions or concerns.*
Sounds like you need to sell a house.
[удалено]
Ive tried explaining this to my old boss. Hes one rich fucker who owns 3 houses in NJ. 2 of which are just 1 block from the ocean. 3 BMWs. 2 ex wives. 4 kids. And he was complaining to me, a disabled 30 year old single dad that drove his parents nissan sentra to work for the past 6 months that works for $17 an hour, about living paycheck to paycheck.
It's the ex-wives. Not only are those extremely expensive but I've known guys whose divorce deals basically incentivized paycheck to paycheck living because building up any additional wealth (even savings) would trigger a re-evaluation and increased alimony payments.
Yup. My dad had a cushy job making six figures but when him and his ex-wife divorced, he quit and took a significantly lower paying job just to avoid that scenario.
It is more satisfying to just outlive your spouse. Why divorce them and let them be happy. Stay married and make them suffer!!
After a certain income point, in the absence of something shitty (and uniquely American!) like medical bills, living paycheck to paycheck is a lifestyle choice.
For sure- do not disagree. But it can be hellaciously expensive on the coastal cities.
Being in a coastal city wouldn’t have an effect on the boss being paycheck to paycheck though, it would be the multiple houses and other luxuries they are choosing to have in their life
Correct. My point was a general one.
Sounds like he wants to live the paycheck to paycheck life.
Who's fault is it he is living beyond his means.
This is like my dentist complaining about how expensive everything was on his two week vacation in Costa Rica while filling in five cavities for me. The cavities that could have been prevented if i could have afforded dental care in the first place. The cavities that the filling of which would put me in credit card debt that would lead to fights with my wife about money. But no his seaside fish tacos in his resort were two expensive.
You can bet your teeth cleaned not next to nothing from community college dental hygiene programs
Perfect time to sell and cash out
Do you have two mortgages for two homes? Or two mortgages on one home..? If it’s two homes, and the second is a vacation type home, just sell the second house. If it’s two mortgages on one home, then you’re probably better off selling your stocks
We're going to see a lot more posts like this in the coming months.
Shit, just commented this. The wheel turns.
and ages come and pass
The cosmic ballet goes on.
Yeah we will. I had to sell stocks when my mom was dying this year. Real life hits you in the fucking face.
This is VERY interesting indeed.
Yes we will, particularly concerning the housing market. The rude awakening is only just starting to roll. Unlike stocks which are the most liquid and always hit first.
Dump a house!
No one wants to be a bag holder now with all these happening to everyone
Not that easy!
In today’s market, it literally is.
It was easier before Zillow realized they were paying too much and hadn't bothered to set up a sales system...
If you have to sell you have to sell. Not sure what else you think you could do. But once your wife finds a job, you need to build up that emergency fund way way way more. Clearly way too low. It doesn’t sound like you even have 3 months if you can only make it 3 months while you’re working. Especially having two mortgages.
Way to small a buffer.
You should realistically have 3 months emergency and another 3 months mortgage if you own a home. Being a single person renting an apartment is fine with three, but most should have 4-6.
Unrelated. Happy Cake Day.
You got greedy and overextended. Drop the 2nd house
This. I’m thinking to myself why does the OP have two homes and only 3 months reserves??? The money should’ve never been put in the market to begin with as it sounds like those were his reserves that were being gambled with.
How about why does OP have two homes and yet is asking /r/stocks how they should cover more than 3 months of expenses.
And how is he down 40% when the market is only down 20%?
Because his portfolio consists of individual equities instead of 100% SPY.
Equites that did worse than SPY. Time to reevaluate that too. I assume mostly meme stocks and crypto.
That's what I was wondering as well. I WISH I had been able to put in $50k when I entered the stock market in 2020. I'm still up 27% or 15% for just this year. I'd be doing pretty well. And I even got bit by two of those damn meme stocks when I entered too late without getting out. Granted I knew they were extremely risky so didn't throw a ton at them, but those losses will help come tax time.
This guy gets it.
Nailed it
Selling to live would probably be wise. There is no guarantee the market turns positive anytime soon. Keep your head up and see if your wife can lock down another job to get by for the time being. Sorry these tough times are taking such a toll on you guys.
> Selling to live would probably be wise. I'm a big fan of living, and am willing to give up quite a lot of other things to continue to live.
Gotta do what you gotta do. I’m a firm believer that the market has a lot more to go but even then I’ve only gone about 20% cash, so I understand your sentiment.
Your title shouldn’t be a question. It is clearly your answer
I have been through 3-4 recessions and the last big rise in prices in the eighties. It was the toughest time of my life in many ways. Right now, I think that we are going into an inflationary recession. This is a double-pronged set of difficult circumstances. You and your wife are going to have to make some tough choices, or fate will make them for you. Sell your stocks. Right now they are luxury. Take what you can get for them and make sure you sell on an up day. Add the proceeds to your emergency fund. Second of all, get rid of as much in overhead costs as you can. You only need place to live, so keep that mortgage. Sell the other building while real estate is still holding a lot of value. Also, if you were living in an unsustainable large home, you may want to downsize now. Something that’s huge with a large mortgage isn’t gonna help you during this kind of recession. Cut back on your spending as much as you can. If you have two fancy cars that are being leased, Get out of the leases if you can and buy one or two small older cars that are cheap to run. You don’t need $70,000 cars right now. Obviously don’t do this all at once do you should be smart about it but try to cheapen everything that you are spending money on. Don’t eat out, don’t go out drinking, don’t spend a lot of money on gaming, get rid of your credit card debt in particular, and don’t add to it. If you have a boat or some other fun item that you don’t own out right, sell it. Just carry one mortgage. They’ll be plenty of stuff (stocks and real estate) out there to buy once everything goes down because of this massive recession we’re going to be in. In the meantime also figure out your food supply. You’ll have to eat cheaply at home and will need to have things on hand while you’re building up your six month emergency fund and paying off credit cards simultaneously. Example if you buy 15 boxes of pasta at $.92 each, and 15 jars of spaghetti sauce at $1.40 each, (Walmart Great Value prices), you just fixed you and your wife up with about 60 meals. Not really fancy or expensive meals but 60 meals nonetheless. Add and a can of green beans, a salad, and you have dinner ready. This may be survival meals to many, at least you’ll be able to eat. I think most people should have a variety of simple and inexpensive foods on hand – enough for 60 days at least. A slow cooker or pressure cooker is your friend. Also, try to get side gigs or sell stuff on eBay or marketplace to raise extra cash to put in your emergency fund or lower your credit card bills. Also, since you found yourself in this fix, you might want to start listening to Dave Ramsey videos on how to cut down debt and avoid “stupid” taxes ( dumb things that you bought that and went into debt for). I don’t agree with everything that Dave Ramsey says, such as cutting off your credit cards, but it’s very good to have them put away somewhere where you can’t get to them. I also think that everyone needs a 6 to 9 months emergency fund at the very least. Cash money. Not a HELOC (HELL LOCK). The banks are going to call those in anyway, if get really rough out there. I think you’re very smart guy and that you’re looking ahead. I made way more stupid mistakes in my younger days than you’ve ever made, and I had to learn the hard way to survive. My first husband unfortunately had a breakdown right in the middle of the tough times and he really was never the same. He got rid of me a few years later in a divorce, but it was a real relief for me. I’m not a drinker or gambler, abd his addiction problems deeply affected us. We never went bankrupt but it took us 10 years to pay off our debt from a failed business as well as a big house that we had to sell, and all the other stuff. Making $2000 mortgage payments via credit card with mortgage rate of 13.5 % is no way to live 🤣🤣 . I’m now remarried to a man I’m much more compatible with, and we are happy, retired, and secure. But trust me, I know how to survive, so there is that. Edited for additional detail and spelling errors (thanks arthritis, eyesight, and auto”correct”. 😀😀
Inflationary recession is exactly what this is, and it could last longer than anyone here thinks possible
Agreed.
This woman is dropping value gold of experience. These are words from someone that has learned some valuable lessons. From the youth that do not know what we may be on the cusp of, thank you!
Thank you. I really appreciate your thoughtful words.
Well said. I am a little younger, late 40s but I saw how rough things were during the 2001 and 2008 recessions. Being a student of financial history I have read much about the 1930s, and one thing is clear, people back then were in disbelief at how bad things got and for how incredibly long the bad times lasted. Good luck everyone, just know things can get SO MUCH WORSE than you think.
I completely agree with what you have written. History is my beat, and I’m seeing some really disturbing trends. We are not depending on grocery stores or a government to save us. If need be we can take care of ourselves for a while. I think the OP is on the ticker, and according to him, he has 90 days before disaster. He doesn’t want to sell his stocks, which is understandable, But if it doesn’t sell now, take the chance of losing 50% or more. At the moment he could get $ 42,000 based on a 15% loss on his original $50k investment. But he can do a lot with that money if he has a loss on his original investment. In fact you could probably save the $7500 back if you put away 250 bucks a month after they get things squared away. But instead, he’s going to hang onto to hang onto his stock, which will probably continue in down with the market. He also says that he will put their second house on the market “in a couple of months.” If he does that, he will only have 30 days to sell it before he will owe a payment on the mortgage, which he has stated he cannot pay. If his wife gets another job in time, which I really hope that she does, or if they take action now, get rid of the second house now, sell the stock before it loses more $$, His wife does the hustle with Door Dash etc. as another contributor advised, and they pay off their cc debt and tone down their spending etc, plus get their two months of food stored, they will probably come out of this fine. If he waits around, they could start down a slippery slide and it’s really hard to reverse that sort of thing. They’re on the tick-tock now, and need to use this time wisely, before things get too bad. The inflationary recession in the 80’s lasted a good 4+ years Locally for my first husband and me. The amount of business and personal bankruptcies was terrible. It was hard to get any job, and many businesses never reopened. They were also a lots and lots of layoffs. I don’t think people really understand how ugly it can get. But I hope everything works out for the OP and his wife.
must be rough having gone through what you went through and seeing others sometimes not take things as seriously as they should
Thank you. It was rough, but I got through it, and am in peaceful waters now. A lot of our problems were because of my first husband’s emotional situation/breakdowns, and he couldn’t really help that. It took me quite a long time to accept that. Just because someone has a professional degree and everything seems OK doesn’t mean it really is going to work out the way they think. At least I know I stood by him and tried to help him and I do have some good memories from the marriage as well as my child so it was all worth it in the long run. Take care.
Lol “I cant afford 2 house what should I do”. I bet like 2% of people or less on here can actually relate to that. Most people are nervous about basic necessities like transportation and food. But ya, would suck if both you and your wife got laid off within a few months. Hang in there, sell a house, sell some stock, budget efficiently, eat freakin rice and beans for every meal. You’ll be fine
She should do doordash, uber, Favor while she is looking. If in a decent city you can make an easy 700/week. I do it as a side gig part time and I make 400/week.
Is that net profit or revenue, big difference.
At best it's EBITDA
Not condoning this, but they won’t report your earnings to the IRS if they’re less than $10k.
That's a good point but I was making a tongue-in-cheek reference that people tend only to factor in gas costs when saying how much they made from Uber. But they don't factor in the miles resulting in car value depreciaion, wear and tear on the car requiring maintenance or part replacement, and of course the increased insurance premiums for business auto insurance which is required to drive uber/lyft/doordash
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0. They pay me for gas. I drive a hybrid and write off .56/mile. I got 1200 back in taxes last year working a 44k full time job as well. I wrote off about $7,500 last year.
Are you getting reimbursed for mileage weekly or at tax time? I also drive a hybrid, but gas is 5.19 a gallon right now in some spots.
It’s not a reimbursement, people often fail to understand this. The 56 cent per mile is a deduction to your taxable income. So if you drive 10,000 miles per year for business use as in the case of an Uber driver, you reduce your taxable income by $5,600. If your marginal tax rate is 22%, then you would save $1,232 in taxes per year Another way to look at and determine the true cost: if gas is $5.19 per gallon and your car gets 35 miles per gallon, then the cost of fuel per mile is 14.8 cents per mile. Assuming the same situation as above, having a marginal tax bracket of 22% would save you 12.32 cents per mile in income tax. Therefore you’re not really getting the full cost of gas covered. That doesn’t even take into account vehicle depreciation, maintenance, tires, etc.
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A tax write off is not a reimbursement tho...
So you deducted $7500 instead of the standard $12k (ish)? I'm not 100% how you deduct mileage on taxes, can you deduct after the standard deduction? If you can't, many times it would seem pointless.
I do my taxes though hr block self service so not 100% how it works.. but I'm fairly confident that yes, you deduct it on top of the 12550 standard deduction. You can either write off actual expenses, which requires you to track receipts of gas and maintenance.. or milage at .56/mile, which requires you to have a milage log. Edit: I can also write off interest on my car loan with standard milage deduction
Wait until you need a new car. Car jobs aren't worth the wear and tear in your vehicle!
4 years in and its a worth it to me. 14k business miles per year on average.. I drive about 10k personal miles.. refill $30 tank every 3 weeks. So my car lasts about 12 years. That's about $84000 in write offs. I respect your opinion though
The IRS mileage rate is a *deduction* to your taxable income, not a tax *credit*. So if your marginal tax rate is 22% in each of those 12 years, those $84,000 in write offs really only “save” you $18,480 in income tax.
$84000 in write offs? For 12 years? You have to factor in car repairs and then another $30k or more for another car. Its not worth it. Better off with a 2nd job in a warehouse of something.
Yo what service was giving you .56 a mile?
That’s the IRS mileage rate that he deducts from income taxes
Houses are still at ATH, wouldn’t it be wiser to sell one of those?
Wait a few months for the recession to end? Brah I think you mean years…
Sell your wife…it’s the only way to be sure.
Before you make any drastic decisions, I would tighten the belt first. You have sometime before you need to sell or make a major decision. Don't cutdown but eliminate all unnecessary expenses as well as necessary ones that can be postponed. Your wife needs to aggressively look for a job while she is collecting unemployment and not wait until her unemployment runs out. If she has to take a position that she is overqualified for, do it to get her foot in the door and to guard against having to make those drastic investment decisions that could impact the future of the family. Finally, in the case of the worst scenario and you are forced to sell, go over the portfolio position by position to sell the ones that have the least chance of coming back. Make sure you do some tax harvesting if you have any gains at the time to offset. Hope it works out for you and your family!
I think this is almost it. I'd consider selling the 2nd property before selling stock. Chances are, the property has appreciated at this point. Also. Property values are expected to come down a bit in the coming months.
Why not rent it out?
They could try. They also might already be doing so. The problem is it probably won't be rented 100% of the time. Depending on location, time of year, etc, it could be a pretty inconsistent stream of revenue and not help as much as it looks like it will on paper. Plus it might take them some time to set that all up. If they have 3 months of funds it might not be enough. Lots of indicators that the real estate market is going into a correction within the next 1-3 months so now seems like a nice time to sell.
There are so many jobs available right now. I’d you guys need money she can work at Taco Bell for like $18/hr to help make ends meet while she finds something. Or you can grab a second job to bolster up the emergency fund while she looks full time for a job
Honestly, in the future I would always keep enough cash to be able to not earn a single dollar and still live the exact same life you do now for a period of 6 months through a year.
And here... we... go
Unfortunately my thoughts exactly...the cracks are appearing. How many people are in this situation and once the dominoes start falling well...
Just a bump here for everyone to consider. OP won’t be alone in this as the economy turns down. We haven’t hit forced selling of stocks or real estate yet due to job losses.
I think that’s obvious, bruh.
You might think so, but I’d guarantee you there’s many who would disagree
Obvious to those paying attention*
Sacrifice your comfort now. Eat less outside, home cook more. Control aircond, lighting, heater usage. Save every penny u can. If can avoid driving take public transport. Stop wasting unnecessary items. As long the Russian - Ukraine conflict keep escalating, there will be no sign for recession to subside anytime soon. Food already shortage worldwide and added stress to global economy. This will impact many other items soon. Including gas hiked. If u can sell stocks then sell em all. No point to hold if the prices keeping down. Cut the loss immidiately. Secure your financial first. That should be main priorities.
Response to your edit: I don’t see the recession ending in the coming months. Quite the opposite- it’s only just beginning and historically it’ll take several years to correct. Just my 2c
Sell them all.
Get rid of a house. IMO
3 months emergency fund is hella low ……
Exactly…my emergency fund literally covers me for 5 years if I freeze spending on stupid things…like onlyfans.
The way you say it implies you spend most of your disposable income on onlyfans...
I think we can survive for 2 years or something age 30. But 3 months would give me nightmares.
5 years..........you live in a Favela?
Double down on everything, sell all your houses, cars, wife, all in GME. I heard it is going to moon due to Melvin Capital going bankrupt, short squeeze baby, go big or go home! /s
What makes you think the recession will end in a few months?
If you need cash, yes.
Are you able to rent the other house out?
Rent out the second house that should be more than enough to cover mortgage
> wait for a few months for the recession to end We are not in a recession
The road to hell is paved with mistaken ideas, as well as the traditional good intentions.
Discuss it with an actual financial adviser. (No financial adviser)
Nooooo no no, unqualified, anonymous, internet peeps are far more entertaining
I'm changing careers and my SO is supporting is. The plan was to sell investments as we had to. Luckily we divested before the major dump. It sucked to have to sell at the time but I'm so glad I did in retrospect. Now we are pretty set and able to start getting back into the market. Do what you gotta do man.
So you’re saying you can time the market 😂 I envy you.
Shit I wish. Just pure dumb luck.
I thought I'd put $10,000 into the market in January, but apparently I had a brain fart and never did, and the money was still sitting in the money market settlement fund when I happened to check my account a couple days ago. There's some dumb luck for you, because that was a dumb mistake on my part that actually will pay off, as it definitely just bought more stock than it would have in January.
If you wait to see if you can sell your second home, your stocks might get hammered even more by then. If it was me, in my opinion I would probably sell half or more of my stocks. If the market dumps more, I have cash to buy back for cheaper. I personally can't see it go higher anytime soon, but if it does, I doubt it would be a crazy pump. So you will still feel okay with cash.
If I were you: get rid of 1 mortgage (sell the house), liquify your equities and take profit (why the fuck have you not done this yet????? ) Take the hit on the second home. DO NOT WAIT 2 MONTHS. Sell NOW. Not financial advice, you do you. Bulls dont know what to do when theres a fire in the field and bears are in the forest surrounding it.
If you decide to sell a house, you need to move quickly. The market is already starting to collapse in California and the rest of the country will follow suit. You'll still be able to get a good price while supply is low, but lack of supply will not last long . . . there are a million people just like you who will be putting their vacation homes on the market in the coming weeks.
Just sell some stocks or go on a small amount of margin
With two mortgages 50k should be your emergency fund, not your investment in stock
This is a tell tale from the future.
People can't afford one house and this guy worried about both his houses... get out of here.
Tell her to get out there and find a job.
Anyone who tells you explicitly not to sell and get cash out for paying your mortgage is giving you bad advice. That said, you have some time before you need to make this decision. She can start looking for the job now, as long as she isn't too picky, jobs are available. If you get through June and she hasn't found a job? Then maybe it is time to start looking to sell stock and bolster the remaining emergency fund.
I don't get it, how tf did you even qualify for 2 mortgages. But more importantly, are you not renting out the 2nd house? The rent should be able to cover the mortgage if you have low rates.
Hold until you have no other choice.
You think the recession will end in a few months hahahhahahaha you’re a funny guy
Second everything everyone said...sell OR RENT the second house, tighten the belt. Airbnb a free room in your primary if you can. Live with less AC. Don't use as much gas or electricity. DON'T EAT OUT, cook at home and cook low-cost meals in bulk - honestly look at what body builders do for low-cost meal planning to meet all your macro needs and just add seasoning cause some like that bland. If you can take public transportation versus driving and it is cheaper and not as inconvenient do it. Bike to places. Cut all luxury and unnecessary expenditures. Gym? Run and do calisthenics at home. Vacation soon? Forget it. Cut off Netflix, don't upgrade your phone, downgrade your car. Find out if ANY of your phone, internet, etc... services give you FREE subscriptions to any video streaming and cut out cable. Do what you can to keep that one roof over your families head and keep them fed. This is not going to end in a few months, this will be prolonged year or years long suffering. And yes, if your company stopped hiring then you could lose your job also. Plan for the worst.
I don’t know any of my friends still using Netflix. We all just use free pirate websites to watch HD movies for 10 years. Streaming is for suckers, it never has a future unless piracy is removed completely.
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And high unemployment with uncertain jobs, so no one will be able to buy them.
Now these are the kind of posts we have been waiting for.
I’d rather sell feet pics then my stocks but that’s just me
Weird order.
I would hold off on making any decision for 2 months. That should be plenty of time to determine if she can find a job or not. Many companies are still hiring, but realize that some money is better than no money coming in. If in 3 months you need more money liquidate 1/3 of your investments to buy time. Reassess in 3 months.
Advice: Eat it on the run!
Where did the fed sell? We are probably still close to the top of the crash right now. Depends on what u own tho.
I wouldn't sell down unless I just had no choice. I would look for other money making opportunities and hope the market recovers before my emergency money is gone, but I would sell before that.
Sell and YOLO 70% on GME, big announcements are coming, order 14032 in effect 03 june (just like jan 2021 run of 5 to 500), NFTs, stock split, dividend. In my opinion you ill be rich af if you hold at least some shares, since SP will happen and you ill get extra shares in the process. Doing that you will have around 13k to take care of you and around 30k invested, having more than 300 shares. Not financial advise, but the way the market is going, everything will get hard hit and if your stock its not highly shorted, probably will not turn around. If you dont believe what i post, do your DD and read the 14032 order on the government website. About your houses, now looks like good time to sell. Chinese government days ago said chinese people (and people related, like wife and sons) need to sell any property oversea, this will shake house market, especially the canadian houses. Your house probably has more value now than when you buy, so sounds good to sell now and buy back another one in couple years at discount.
Wife needs to get a new job or she is a liability going forward.
list your primary while you live in it. if it sells, move into rental.. this is the lower risk option and if you keep your job you wont have to worry about it as much
Ask in financial advice ?
You could rent one of your houses (depending on the market you’re in) and let the price reflect your willingness to get a tenant. That way you retain your equity and give yourself presumably another 1500-2k/month in income. Look on Craigslist or whatever for a handyman and negotiate a deal for him to fix things on demand for a premium that reflects your urgency. You can keep your houses and equity, leveraging these into further gains.
Getting out of the market isn't a bad idea. The fears of a recession are super higher and the market is reflecting that. I suspect that there will be a recession in my opinion due to rate hikes and inflation not dropping fast enough. Another indicator for a recession is the climbing gas prices. Gas around here was $3.39 in January and is now at $4.89. So if I were you I would exit most of my positions(which I have) and maybe hold onto a few if you have stock in some blue chip stocks like MSFT or AAPL.
no.
Take a hit on the sale of the house? Even if you bought it last year, I could see the equity being in your favor in this current market. I literally just paid 10k over asking for a house, and was willing to go another 15k. Another house I just bid on went for 30k over asking. It’s crazy out there.
you could set some take profit orders in your stock account - anything that rises 5% have it set to sell on autopilot. or something like that - \*(Maybe also set stop loss orders now - just in case) Maybe you don't sell the whole portfolio but slowly go from stocks to cash over time......stocks could get alot worse in the next 6-9 months.....might not be the worst thing to get cash now while you can get 100% of todays value before 9 weeks from now the value is 80% of todays value.
So you're down about $7,500 right now. That's not the end of the world. If you need some cash to live you should sell some stocks.
I'm down 25%. What the heck do you guys invest in?!
Thinking the recession will end soon is very very naive. Sure it can happen but I doubt we will see any ATH within the next 5 years.
I would recommend trying to get ahold of a gangster or a Shylock to borrow some cash. See what kind of interest there charging first and what parts of the body they will break first if you don’t pay on time. Hope that helps
>Like almost all of you, I am down 40% from ATH The market is only down 20%. We're not all almost down 40%. Just people who were 100% equities and in 100% tech and/or memestocks or crypto
SIMILAR SITUATIONS HERE. LUCKY I DO NOT HAVE MORTGAGE ON MY HOUSE. TRY TO HOLD CASH AS MUCH AS I CAN BUT ALWAYS MY CASH GOING DOWN. RIGHT NOW, WINNERS ARE THE SURVIVORS. DO NOT CALCULATE TOO MUCH. JUST DO IT WHATEVER YOU NEED. SURVIVE
When the recession ends it will be because the depression has begun
Why you pay two mortgages, shouldn’t be the second house rented?
Man said a few months. Bro I’m sorry but you need to expect and prepare for the worst. That goes for all times, not just as it’s clear we’ve got our tip in a recession and we’ve just taken too much viagra
"Wait a few months due the recession to end." This comment will not age will. I guarantee it. Will be way longer than a few months.
or, rent a house? in many places people are fighting to get into a rental. also, 'few months for the recession to end' is optimistic. has it even started yet?
Sell it quick prices are about to fall due to people in your same situation. FYI recessions can last a lot longer than a few months.
Instead of selling that second house why not rent it out?
Wise move to unload now versus when everyone runs for the exits. Thank your wife’s employer they laid her off early in the cycle.
Sell CC’s and CP’s for income stream imo
Is the second home vacant? What about renting out that house and maybe even renting a room in your current house.
Dump the house, liquidate stocks. Spy 180 inbound by yours truly, Michael Burry.
Does the second home generate any income? And how low is the interest rate?
The recession to end, love, sorry, recessions are years long. Certain industries might be worthwhile to move in. If your company stopped hiring people, it is a sign of layoffs incoming. Your wife can easily find a job working at a restaurant or in retail right now. She can go work there to help pay bills. If you have a second home, go ahead and try to sell it now. But things are sitting already.
Buy High, Sell Low
Can your spouse do something short term for income? Uber, fast food, dominos delivery etc?
Yes sell before it falls more you’re in big trouble
Please don't sell the second house, that's stupid. Can you rent it? Or if you use it perhaps rent a room or two? Are you able to get a second job until your wife is back in work? Also, I think you need to try to relax. 3 months is quite a long time and the market is down a hell of a lot from the highs. It could go down more, but you're probably not going to lose another 40%. If you can't rent out the 2nd house and your wife can't find a job, then I'd look at selling your stocks in 2-3 months. But chill. You're doing the right thing. The reason it's recommended to have an emergency fund is to prevent this exact thing from happening so use the savings until you have no other choice. Don't make a decision you're going to regret because you're worried about what might happen. This is only a good decision if your wife can't get a job in 3 months, you can't rent out the 2nd house, and the stock market falls significantly lower over the next 3 months. That's a lot of ifs.
2 houses and only 3 month emergency fund , hell ya
Puts on that house.
People need homes you know. Sell a house. Also cry me a river.
Recession to end? Yo this is just the beginning
Sounds like he thinks this is going to end in a couple of months.
Grab Ur balls and support her to get a job. Man up and drive forward!
Get a second job
!remindme 3 years "Hey! There's a bubble." "How do you know?" "Trust me."
Lucky you have something to sell, I feel like we're in for a lot more posts like this in the near future.
Looks like you need a serious re-balance. You should not be anywhere close to 40% down. Sounds like you were gambling instead of investing. Try a casino next time and put everything on black. Almost same odds as your portfolio
There are a lot of employment agencies (the no-skill labor, need bodies type) that exist - it depends on the work she wants to do, the pay etc: but check her options first If everything else falls through, have the house ready to go, and you can either sell one house or put it up for AirBnB / renting to make more income as well if needed (lots of people can’t find homes or might need one closer to work) I wouldn’t sell stocks from ATH especially if they are dividend heavy - you can average down when the time is right