Stock Market & Cruise

Stock market is tanking. Who is thinking of cutting back on cruising. Discuss.

A bit late to think of selling - of course those who got out first thing this morning, when the Dow was down 1,000, missed out on the recovery of close to 700 point by close. But, seriously, some of us might need to rethink annual draw from our IRA's if the market stays down. On the other hand, those still in the saving for retirement stage of financial planning are now looking at a much better investing environment.

Give it a week or two.

Keith

sold our remaining stocks 2 wks ago ;)

Just wish our dollar would go up

Key is to not panic. Stay calm.

Keith

We cruise because we can, not based on the condition of the stock market. Not flaming, just saying that we cruise with our income and not from what's in the stock market. One day that might change, but for now, we can ride it out. :) Like someone else said, wait a few weeks and it will probably have mostly recovered.

Some of the financial analysts on TV today commented retired people and those nearing retirement should give serious consideration to getting out of the market at a good time for them. For young people, you have years to recover anything lost and to build your retirement savings.

I say spend it before it's all gone. It would be very inconsiderate to pass on to one's heirs financial instruments that have gone down in value :rolleyes:

I don't tap into my financial market investments to cruise. I do it on other retirement income. I won't move equity investment and it is a good time to enter the market for those who have not. I worry, but think the correction so far might be enough. You just never know.

Doesn't change any of our currently booked or future planned cruises.

No travel or cruise changes planned here. :)

There was bound to be a correction, it was only a matter of time.

This happens every few years. Unless you are forced to sell it is not a big deal. Just be patient and it will correct in a few months.

Some of the financial analysts on TV today commented retired people and those nearing retirement should give serious consideration to getting out of the market at a good time for them. For young people, you have years to recover anything lost and to build your retirement savings.

The problem is that there are very few alternatives. Savings accounts and CD's have minimal yields. Bonds are very risky as they will surely lose market value once interest rates move up. Some stock holdings are essential in a 401k or IRA - of course, the percentage in equities should go down as one ages - and it is a good idea to have a year to a year and a half of anticipated withdrawals in cash or cash equivalents - so you can chose when to sell, and not to be forced to at a bad moment like this week.

The problem is that there are very few alternatives. Savings accounts and CD's have minimal yields. Bonds are very risky as they will surely lose market value once interest rates move up. Some stock holdings are essential in a 401k or IRA - of course, the percentage in equities should go down as one ages - and it is a good idea to have a year to a year and a half of anticipated withdrawals in cash or cash equivalents - so you can chose when to sell, and not to be forced to at a bad moment like this week.

You are right on all counts.

I am a retired widow so 'get it'. :) Thankfully, I'm fine but who knows what could await any of us..

Unless you panic and sell the "loses" are just theoretical...exactly like all the gains people brag about when the market is going up.

In my opinion, the only reason to cut back on the vacation budget because of the drop is so you can use those funds to BUY stocks. I mean, after all...isn't the goal to buy low and sell high?

Key is to not panic. Stay calm.

 

Keith

I disagree.

Panic.

Reports this morning said even Saudi sheikhs are now looking at ways to cut back on spending and shelving some costly projects. If this keeps going, we may be seeing some smoking cruise deals again like those back in 2009 after the big financial meltdown. :)

I'm selling my stock and buying some tin foil. All the conspiracy theory and chicken littles have me scared. Going go to make a nice hat and hide in my basement because its way to scary to leave the house. :eek::eek::eek::eek:

:rolleyes:

Things I learned about the tock market over the years:

1. no matter what the "financial experts" will tell you, there is only one reason why stocks go down: more people are selling than want to buy. It is just the opposite for stocks going up. Most of the stock market is controlled by computer programmed trading. The "experts" are paid to make up interesting stories that have very little to do with anything.

2. The worst thing you can do is sell out on a drop (unless you are short selling),

as another said, the idea is to BUY low and SELL high.

A smart inventor will be looking for buying opportunities now.

4. As long as you hold stocks, your "profit" is only on paper as is any "loss". It is only when you sell that profits and losses are realized. Never think that "I am loaded" because you are worth a lot on paper. You might wake up one day and fin out you're not...

4.. If you want to panic, go ahead, you're only cutting your nose off to spite your face.

FWIW.

I'm selling my stock and buying some tin foil. All the conspiracy theory and chicken littles have me scared. Going go to make a nice hat and hide in my basement because its way to scary to leave the house. :eek::eek::eek::eek:

 

 

 

 

 

 

:rolleyes:

....don't forget your MRE's in a bucket.........I've heard Jim Kramer is building a bunker to ride out the crash.................:D:

We will still be cruising.

It is health issues that prevent us from as much as we want.

Fortunately for us the stock market does not impact anything we do, especially cruising.:)

Fortunately for us the stock market does not impact anything we do, especially cruising.:)

...unfortunately it does......if you have a pension,also your local taxes which will have to supplement retirees pension of your local town or city if the pension fund does not hit a certain level of return.......federal taxes if tax returns do not show a certain level of un-earned income taxes.....I can go on but unfortunately it does affect you in some way. (unless you are like TruckerDave and hide in the basement;):D)

...unfortunately it does......if you have a pension,also your local taxes which will have to supplement retirees pension of your local town or city if the pension fund does not hit a certain level of return.......federal taxes if tax returns do not show a certain level of un-earned income taxes.....I can go on but unfortunately it does affect you in some way. (unless you are like TruckerDave and hide in the basement;):D)

You are right, of course, to point out events which will have an INDIRECT effect on people's ability to cruise - but why stop at the stock market? The wild fires in Washington State will cause lumber prices to rise - impacting the costs of new construction; the California drought will cause produce prices at the supermarket to go up - with a negative impact on discretionary spending. If something happens to this year's coffee crop, those of us who are Starbucks regulars will have some gut-wrenching adjustments to consider - and the ripple-effect of which on non-coffee drinkers is yet to be evaluated.

Great information here. If you are a Canadian I understand why your dollar could be much stronger (Ouch!). The cruise that I want to take just raise its price 10% today. I realize final payment is due in two weeks and I figure the cruise line is desperate at the moment. There are plenty of cabins available and after all those people cancel because of a panic stock market I will be able to book this one cheap. I'm expecting at least a 30% price drop within three weeks. Just like the stock market it can't stay up all the time. Tim