Thread regarding Chevron Corp. layoffs

Conventional wisdom and experience dictates to hold fast and ride out the storm. You will do better in the long term that way. If anything invest more. You have plenty of time and are just beginning a long journey. Hold, sit back, relax, and take the precautions advised about the virus. You're in good company.

I will retire this year and I am not selling anything. It is time to buy and hold, not sell!

Don’t sell. The market will come back- it always does. I kept my 401k during the 2008 market meltdown and was well rewarded for doing so.

Sell now and you will realize a true loss.

unless you are retiring today the value of your 401k isn’t all that important, especially in a time like this . It’s the quantity of stocks that really matter. When I saw the market going down I maxed out my 401k with my bonus to increase the amount of stock I owe. When it all goes up I will have more shares going up which is a good thing.

I'm moving as much cash into the stock market as possible in small increments on the way down. At $55/share, the CVX yield is over 10%. Whether that's sustainable or not is another story. Selling now is the worst thing you could do.

Yeah, if you like to gamble, you can sell now and buy again when things start to go back up. Some people have done that in an attempt to stop the bleeding. The problem is, those same people usually miss out on the gains when things come back.

If you can time the market. Be my guest!

But most savvy investors will tell you to hang on. This scenario has been repeated multiple times throughout history.

Hold. You will be alright in twenty years. Just remember to start weening off of stocks in your forties as you approach retirement. You will be alright. History tells us this. If the world goes to c-ap, money is worthless anyway. Good luck.

I still plan to do an EOI and retire later this year. I had a 50/50 mix, so am down less than 20%, but even if I had been in 100% in, I would still be holding position. Best to leave the dance with the one you came in with. You had a more aggressive mix, you flew higher, you fell further ... hold it and in the end you will do better than me. Double down high and sell low, then you are just a chump.

In the last oil crash I was just about to give up and switch all my CVX to an S&P 500 fund when CVX was in the mid 70's. Then I did a Constanza and actually switched more of my allocation to CVX and rode it back up to ~100 then got back to my normal weightings.

Buy when there's blood in the streets. There hasn't been this much blood in the streets in a long time. Doesn't mean there won't be more and it will stick around for a long time, but if you feel like you have to make a move then a small buy is probably going to be better in the long run than selling.

2008 crisis, I rode it out and refused to look at my 401k balance until things came back to normal. One of the best things I ever did because I know I would have cashed out at the absolute worst time if I were fixated on it.

No one here knows for sure. Buy, sell, whatever. A year from now you will know the right answer.

Don’t sell. You still own the same number of shares. If you trade them at the current low price and you lock in a loss. You should have been well diversified in your investments well before this downturn. Perhaps you’ll learn this lesson after your holdings regain their value once a vaccine is found. The turnaround will be fast, so keep your current stock holdings. You’ll be okay in a few months or maybe within a year. Don’t panic and lose much of what you worked hard to earn.

Too late to sell, just hold on. If you have bonds or money market you can dollar cost average buying stocks. Once vaccine comes then things will go back up rapidly. Dont sell cvx because of the dividend (too late to sell now). But in the end you need to decide.

You should be buying right now, not selling. If you sell now, you lock in all those losses. Think of it as the market having a giant sale. If you sell rather then buy, you will look back at this time in 10+ years, and see that it was the single biggest investing mistake you've ever made. Buy low, sell high.

You have plenty of time before actual retirement, the market will rebound. Come up with an investing strategy (if you don't already have one), and stick with it.

Also, do not do 100% CVX stock. That's what's called "double jeopardy" - if the company you work for does poorly, not only are you at risk of losing your job, but your investment tanks as well. It's amazing (and scary) how many Chevron employees have a lot of their investments in CVX stock. I would recommend 5% or less of Chevron stock in your portfolio.

I can't tell you what your portfolio should be. There's a lot of different strategies that suit different folk. Do a lot of reading on investing and do what makes sense for YOU.

PS - Don't sell!!!!

I have 17 years to retirement and I am staying put