Reinvesting Lost Money

" To -- in St. Louis thank you and welcome to that I Ramsey show. Good evening gave our -- that I that I deserve sir how can I help."

" Well we're up against what all we're we're kind of -- done everything we're down we're both retired in our sixties. And neither one of us can work and we thought just about everything renowned about a 100000 dollars. More than motherboard and we've lost 47000 dollars in November alone and them in the market movement and."

" Are you really handle stocks. -- what are you single stocks."

" Well we're diversified we don't know that much about it we just that we've had had invested three years you know and we do we don't know much about it and we know we don't. Where -- like older people we don't."

" Well -- done that doesn't mean you don't need to know something about it."

" I know I know but couldn't we did not -- much we just diversify and everything went smooth for years you know."

" Well diversified does that mean what does that mean you -- on any idea what you on. 47000 dollars out of a 150000. In November is a big yet. Yeah all right the market has dropped about that much in a year but not in November."

" Very yeah we've lost in two weeks most. -- from 147 on 12120. Done a hundred and so we pay any cashed out. We got like 60000 care and 40000 starkly we don't know I get rid of all of that are -- so we've got we -- we need -- one of us can work we're. We're older people you know enough. We don't know what to do now is just. Who were against the wall we're always stressed out over."

" Well you didn't have much to start with a 140000. You know the difference in living on our hunt our 150000 different living on 150000 to your retirement living on a 100000 is not that substantial it's still going to be tidy away. Yeah yeah so. You know in terms of what did that move in the stock market destroy your retirement the answers hello. It did not. I mean if you to -- people 10% off. At a 150000. A year you be pulling off 15000 dollars people 10% off now you pull off 10000 box. Okay and and that's the difference and 800 and about. You know 1400 dollars says it's just a few hundred dollars a month which really does not make or break you know your retirement. In the sense of you already had a tight budget."

" Wolf for the whole year we lost 91000 dollars. You know political Rex six months or better."

" Where you were very poorly invested them you know so what you were and so I'll always -- how are you guys are saying he kept saying well we're trying to going to come back it's -- American well that part of do agree with the except that I don't mean. Because I gotta tell ya -- my investments are not in half and that's what you're describing. You know market is not dropped in half my my mutual -- coming there there are portions of market this more than an half. But I I have not experienced that when my investments by being in good mutual funds. If I woke up in your shoes what what I do that's our answer questions on the show. I make sure I had an emergency fund of three to six months of -- little heavier and cash maybe six months of expenses so. If this is all the money you have your name I'm gonna have. 30000 bucks evident cash and come up with 7000 evident good growth stock mutual funds that long 101520. Year track records. Growth growth and income. Maybe a little -- of international sprinkled in there. Maybe some balanced funds sprinkling in Obama being mutual funds from spread across a bunch of different stocks. And that number that's real diversification not some stock broker got you intend different stocks and calling that diversification which it's not. He mutual fund directly mutual funds yes sir at and what I would tell you that it can. Is just sit down with somebody you don't need to put money any any -- else because somebody else that it. You don't need to put money 'cause I said to you don't need to put money some some broker says to you need to understand. What you're doing before you put another diamond in it -- But knowing what I know if I woke up in your shoes I've put about 30000 casual about 70000 or 80000 of the money that's left here. Ian good growth stock mutual funds balanced. Growth and in come growth. Maybe a little bit and international something like that -- a good way to do this you only do it today. But you don't eat -- as this market recovers you need to recover with the market considerably sitting here in cash because you have sealed journal also right now about sitting in cash. You need a new broker you've got a bad write -- return and you need to sit down with somebody who has the heart of a teacher. Not the heart of a salesman. And then we'll explain every detail to you that you're getting into it you'll understand exactly what you're doing. And you can ask questions and you can express your fears and concerns you can extra pressure. Upside potential all of those things and learn about what is -- getting into it. A good way to find a broker with the heart of a teacher of the ones that we recommend they don't work for us. But we call them endorsed local providers EL peace. And you could find them -- Dave Ramsey dot com just click on the LP and click on GOP for investing in this sit down with somebody like that that has the heart of a teacher. But I think it's a mistake to be completely out the market in your sixties right now. Because all that money that you've lost you're gonna have always lost it. Verses of this market recovers and comes back to its own. Back to itself and a year or so or two years even than your hundred could look like you know 11560. Again that can happen very easily. And those that's actually track record of the market following a down time like this when will that happen I don't know I don't have a crystal ball. But I can tell you this I'm not pulled a dime out of my stock market investments due to fear not I've done -- Diana from Texas."