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Covid-19 and Your Cheddar

Disasters Article   (593 Views | 4 Replies | 646 Words)

medsearcher1 has 20 years experience as a BSN and specializes in Cardiac, Pcu, Tele and Tbi.

1 Article; 2,363 Profile Views; 28 Posts

A Viral Investment - Do You Have a Strategy?

A basic look at what nurses are considering for investments during the current pandemic

Covid-19 and Your Cheddar
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We Are All in Trying Times At The Moment

Covid-19 is stressing our healthcare system as well as wall street. In the last several weeks, we have seen all of our amazing gains in the stock market vanish before our eyes. Looking at the situation, we were about to hit 30,000 in the Dow which would have been an all-time high. Our economy was bursting at the seems in success. I was receiving a ton of job offers in my email from travel companies about picking up jobs from all over the U.S. I have also been at my current job for only a year and a half. I invested in their TSP (Tax Sheltered Plan) and the company matched it with 5 %. So I really didn’t have a lot in it when COVID-19 hit.

Covid 19 Strikes

In January, COVID-19 was just a scary scenario in Wuhan China. I was hearing reports of someone eating bat soup and then getting sick with a mysterious virus. A doctor had diagnosed what was happening at the epicenter; it really seemed a far away problem. Then towards the end of February ... BAM! We had our first case of Covid 19 in the U.S. The virus spread like wildfire throughout the country. We all started hearing of cases in different states with no deaths. Then we started hearing of cases with deaths and its continued spread. Following all of this as a nurse I started to see precautions going into place. Life became uncomfortable in some areas. The more the news broke about the virus the more we all tuned in like a disaster.

The Economy Breaks a Hip

After I started seeing places close in an effort to contain the problem, the Dow started tumbling like a skateboarder on the tv show” Ridiculousness” 10,000 just evaporated, dropping us from a record 30.000 to a stunning fall of 19000 before action was taken to contain the problem. Markets would close early to prevent any further sell-off.

I was Interested in What Nurses Were Doing With Their Finances

How were they protecting their investments?

Did anyone do any monetary shuffling?

I stumbled across a Covid 19 support group and found a thread that made my heart jump off my chair. It was discussing what I had been looking for. Several nurses were evaluating long term investments and what to do their monetary assets. Several nurses had to move their investments into a holding pattern or withdrew them entirely. With the economy going into ICU, a need was clearly defined and so our congress stepped in to attempt to provide assistance to Americans affected by our current plague. So for a week, we have seen plenty of news reports that indicate our government isn’t very prepared to help us, although a stimulus check may be on the horizon; as of this writing, we haven’t yet been given a clear plan.

What Everybody Is Investing In

Several nurses were talking about investing in Carnival Boeing, 3m and Disney. One really great post from a nurse turned finance adviser stated: “know your risk tolerance before you invest." Several other nurses discussed FORD and GM, calling both a goldmine. I was considering MGM and silver because silver is currently trading at an all-time low at 12 dollars an ounce. I’m sure these will go back up. We are all going to get some cheddar thanks to the gov. Why not consider using an investment app like Robinhood to start something new?

Finally ...

What are your thoughts on all of this?

How would you like to invest your money?

Do you have a strategy?

Patrick McCarthy has been a nurse for 20 years, working in a wide variety of nursing venues. He is currently trying out nurse writer

1 Article; 2,363 Profile Views; 28 Posts

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4 Followers; 37,690 Posts; 103,315 Profile Views

I invest my income in my rent that increases again in a couple of days.

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1 Follower; 2,666 Posts; 38,519 Profile Views

I took most of my retirement out of the stock market a couple years ago.  Precious metals are a good way to keep your savings safe from the kleptocrats.

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medsearcher1 has 20 years experience as a BSN and specializes in Cardiac, Pcu, Tele and Tbi.

1 Article; 28 Posts; 2,363 Profile Views

Thats really interesting . That precious metals are u investing in.? Gold, Silver? Do you have ivestments outside the Market besides  precious metals? Thanks for the response

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1 Follower; 2,666 Posts; 38,519 Profile Views

Gold is very popular and available here in Alaska. So is silver. 

No, I'm not diversified anymore.  

Edited by toomuchbaloney

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