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Markets crashing sit tight

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Mendy Feferkorn avatar
Mendy Feferkorn

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I am strictly speaking about putting in money in the long term not in the short term. If anybody help me admit what's happening in the market the last week market is crashing um all the profits that was accumulated from November till now is basically gone for a person that sells his position now it's gone but for a person that sits tight and understand that this is the way this is the mahal it goes it's going to turn around and it's going to go back up and it's going to be make back all of that it loss plus the stock market in America never went to zero. In the 1920s, it lost 80% of its value. The next biggest crash was in 2008 where it lost 35 or 38% in its value. But if a person put in money in 2006 and in 2008 he saw his money down at 50%, let's say he put out $100,000 and it went down to $50,000. If he sold then his position, he lost $50,000. But if he sat tight till 2014, he already doubled his money. not lost 50% but he already doubled his money. So of course you're going to have waves. This is the way it works. It's it's it's it's waves and we have to be very strong and very disciplined. This is not the way I work. My is you have to open up an account in a brokerage firm like fidelity.com. You open up a broker an account for each child. They start putting in $25 a week, $5 a day. You set it up on a weekly at $25 a week for every child for 20 years. And it has to go steady. Not when I have the money I put. When I don't have the money, I don't put. You have to set it up steady. $5 a day. That's $25 a week in the account. Automatic withdrawal from your bank account. It goes into your account. as the occumentation can hind,000.