The corona virus, a.k.a. Sars-Cov2, has spread around the world rapidly causing a lot of problems. Sadly many people lost their lives, many more are sick and it caused a global financial crisis. Even though I think there are too many people in the world I still think it's sad that many people died. Imagine loosing a loved one to this virus. Markets were already struggling a bit with the situation, but in the last week the global markets crashed, big time! I even received an email from my broker about it. They are obligated by law to inform me when some of my investments dropped by more than 10% in a short period off time. Needless to say I lost a lot of money and I'm most likely no longer at 500K, but I'm still cautiously happy. But why!?
I'm not a financial expert, but I've read a lot of books and blogs on the subject of investing in ETF's. A few things are very important to understand. Market crashes always happen, but they almost always go up again, so whatever you do, don't sell! And, if you're in the position of investing more, then do it. When markets go down it basically means that stocks go on sale. So you can now buy them cheaply.
Since I'm still working and earning money I can now invest more and buy stocks on sale. That makes me happy, even though the markets have crashed. Honestly, I really don't like to see my 'nest egg' suffer such huge losses, but I have to stay focused and stick to the plan.
Before I end this post I want to make clear, again, that I'm not a money grubber. I'm only interested in my freedom. Unfortunately, amongst other things, I need a great sum of money to achieve that. At least, that's what I think for now.
Exciting times!
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