Hi there! Mrs. 1500 here to do last week’s wrap-up, then the Mister takes over to ask this week’s question (with some prodding from Buck over at Bucking-the-Trend) What would you do if the market took a big hit?
But let’s review last week’s question, Do you give money to the homeless? If you recall, I drove past a man and two children on the side of the road with a sign that said they were hungry. I went into Target and bought them a loaf of bread, peanut butter and jelly, and a bag of apples. When I gave it to the man, he was disappointed, and asked me to go buy his kids some food from Panda Express.
Scooze learned from DCFS and passed along to us that begging with kids is dangerous for the kids, and if you see children being used in this way you should call 911. Thanks for letting me know, Scooze. I had no idea. It makes sense when you think about it, but still.
Allie from Allie’s Everyday Adventures reminded me of a news story that said some of these “homeless” people actually make $60K a year begging. I have heard this too, which also makes me less likely to give.
Emily over at Evolving PF said she gives to homeless shelters rather than to individual people. She feels it goes farther this way. This sentiment was echoed by Grandy, Jen over at Jen Spends (welcome back to the blogosphere after baby #2!) Kelly, and This Life on Purpose.
But I think Micros over at Micros Missions summed it up best: “…I always become suspect when someone asks for money for food but then refuses food.”
And now over to Mr. 1500, who will take care of this week’s question.
I really dislike the idea of trying to time the markets. The smart investor stays in for the long term. That’s really all there is to it.
However, I need to call myself out too. Buck asked me an interesting question in the comments of his recent performance update. I had mentioned that I’d consider deploying extra money should the markets take a huge hit (I guess I may be a market timer after all) and he asked me this:
What are your rules for deploying after a shot to the groin?
In other words, if a black swan did come along, how would you deploy your money?
This is a really difficult question. If the market lost half of it’s value tomorrow, what would your state of mind be? As Buck points out, would you ‘have the stomach to plow additional money in?’ I know what my answer is, but I’ll save it for next week.
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