We are older but we still have above average incomes and many years of investing, so we are not all in bad shape, but you are partly right in that many didn’t plan ahead.
Not really. Younger people will fare way way worse than older people. Older people have houses, savings, pensions, etc to look forward too. Younger people have to look forward to lower incomes, very little if any savings, minimum if any job prospects etc. Actually it might very well be the case that this young generation will be remembered as the most unlucky generation in living memory. They graduated around the time of the 2007-2008 financial crisis and were severely affected by that. Just as they were recovering from that, about 10 years later, they were affected by the 2019-2020 economic fallout from COVID19. It might well take 10-20 years to get over this. Anyone looking at this would be reasonable to conclude this is a lost generation.
Babatunde Onabajo I wouldn’t look at it as a lost generation at all even with minor setbacks. Firstly the younger people have technology skills we could only dream of, and many are making careers out of social media platforms, bio technology, robotics etc that were not even thought of when we were younger, in fact Silicon Valley didn’t exist back then. Kids today have many more platforms and information on investing Sure the wealth is presently mostly with the older generation, but I can guarantee that when we pass on, our kids are going to inherit a lot more wealth from us than we inherited from our parents
@@HamiltonRb: I disagree with that. The same technology sector you laud is also the same sector that is automating away most jobs, which is going to affect young people in particular as they often start out their lives working in entry-level positions, which are usually repetitive. Whilst it's true, as you say, young people are more "familiar" with technology, this is true insofar as they are end-users. They don't or can't build the same tech they are using. Unfortunately young people will be hit in a big way because of the two economic catastrophes they have had to face just as they start their working lives. Sadly a good chunk might go through their life without realising their potential due to the circumstances. I do hope and pray I'm wrong however.
Now is the time for "Reservoir Fortification" where we buy crude at a deep discount, or preferably free, and storing it in depleted surface formation near refineries.
Forget mutual funds. Learn to invest in growth companies, especially in tech/online sectors. There’s a reason they are the only ones hitting all time highs right now.
Index funds are better over the long haul because mutual funds can't and won't beat the market and they charge you for them to try. Index funds follow the ups and downs and charge infinitesimal fees. The reason that's better is the market always goes up, eventually. Reacting on emotion will kill any investment.
RSU's? Free gift from your company. But tanked from $25 down to $5? Sell enough to cover the taxes due on the vest, and hold the rest until it's up (which it will be)
@@iFYMxDRKNSFALLS bummer. Most corps give you three choices: 1. Sell all, pay the taxes, you get the remainder 2. Sell enough to cover the taxes, you get the stock at the new basis. 3. You keep them, but have to pay the taxes (including SSI and Medicare) out of pocket. Personally, I go for #1 because I'm a mutual fund guy and don't like individual stocks.
@@stuartclubb4302 ya lot of ppl at work recommended to sell to cover stock, but since the timing of me joining the company I only got 1 and wont get more unless I get promoted. But also I went exempt this month for the amount of OT I'm making, so taxes next year might be scary lol
Does this situation mean several months from now the oil companies will be equally as profitable as their operations were in 2019 or will their profits be affected?
@@funsizepolitics6107 if you are in it for the long term, it's best to wait and watch the market. When we get another good year like 2018, sell everything you have in oil
Looking for input on RSU and stock options in a start-up company. I have RSUs and stock options with a company in CA and I am a CA resident. We expect to go public shortly. I expect for a number of economic reasons, I will exit CA, but most of my equity will be vested while living in CA. I expect by the time I cash out I will be a resisdent of North Carolina for at least one full tax year. So, if I am separated from CA for at least one tax year and domicile and resident of NC, will CA be notified by IRS or NC that I sold my RSUs and stock options. Thanks for posting and any information yuo can share.
I like Dave's shows but I disagree with him when he says that this is due to the government suppressing the economy. Even if the government didn't do anything, the economy would have still taken a hit in the form of worker absenteeism, lower productivity, fall in consumer confidence, and so on. Actually, shutting down the economy is the most optimal thing a government can do in the circumstances. I do believe that at the outset of this pandemic, the economic fallout was "artificial". Sadly, what was artificial has now become real in the sense that businesses have closed down, government debt is going to skyrocket, unemployment is set to rise (and with it, the scarring effects the longer they are unemployed, etc etc).
The collapse of oil prices wasn't a government action. In the first or second week of March this year, oil prices collapsed because Russia decided against agreeing to further production cuts with other OPEC+ members. Saudi Arabia took offense and said they wouldn't cut production either. Oil prices dropped the Monday after that meeting. They kept falling week after week. At the same time, the coronavirus shutdown started around the world and began affecting consumption. China had already cut back consumption and industry at the beginning of the year which was putting pressure on oil prices, leading to the failed OPEC+ meeting. Storage filled quickly and now there's nowhere to put it all. I wouldn't call it a perfect storm, but it was as close as it gets to one.
Don’t sell dude. The oil companies stocks falling has almost nothing to do with Covid. It’s a supply issue, not a demand issue though demand hasn’t helped the matter. But gas prices are starting to go up & you will easily regret selling now because this is the lowest it is going to go. BUY & HOLD. Don’t sell.
Before this oil has been going down down down. Then covid... Also have to factor that petrodollar is on its way out. Oil producing countries are now using the chinese yeun soon their digital currency. Tough tough spot.
It's impossible for Dave to give decent advice any o&g stock in one unnamed company when he doesn't understand the oil and gas industry. He can't be an expert on everything of course, but o&g is far more nuanced than other stocks and other commodities. The price of oil is a world wide endeavor. No one is more attuned to it than Saudi Arabia which requires its budget be funded by over 90% in oil sales. They have the most to lose or gain of any nation on Earth.
@@keithsj10 But he did give decent advice here. He normally tells people to sell any individual stocks; "tomorrow morning" with no consideration for the daily or monthly swings of the market. Here; he at least advised holding on for a while to determine what the market is going to do.
@@silverltc2729 it took gold 10 years to go up 42% at it's highest in a good economy. It's a good hedge at the moment but oil will get back within 2 maybe 3 years. And gold I believe will have a sell off considering the upcoming recovery.
@@jason618 why is gold up in a good economy? Gold stores value. The USD does not- it's called inflation. Prices dont go up, the value of paper fiat always goes down.
@@silverltc2729 yes yes yes 2% inflation every year on the dollar now a lot more because of bailouts. Oil is the number one commodity. The use case for gold and oil is totally different. No one needs gold to get to work in the morning.
Get life-changing financial advice anytime, anywhere. Subscribe today: czcams.com/users/TheDaveRamseyShow
People are slaves of a banking and Financial Plutocracy. But they don't know that.
"They live, we sleep." movie 1988
Definitely feels weird to hear Dave analyse a single stock based on the market swings and say to keep it.
He's right, still weird.
LOL so true
Agree. It's strange. And he gave good advice.
He didn’t even know what RSUs are
Imagine watching this now in 2022
how about 2023! I hope he held onto it.
covids shaken things up, i feel for the older generation.. the young crowd has plenty of time to recover financially
We are older but we still have above average incomes and many years of investing, so we are not all in bad shape, but you are partly right in that many didn’t plan ahead.
HamiltonRb Right, there’s always a smaller group well ahead of the pack.
Not really. Younger people will fare way way worse than older people. Older people have houses, savings, pensions, etc to look forward too. Younger people have to look forward to lower incomes, very little if any savings, minimum if any job prospects etc.
Actually it might very well be the case that this young generation will be remembered as the most unlucky generation in living memory. They graduated around the time of the 2007-2008 financial crisis and were severely affected by that. Just as they were recovering from that, about 10 years later, they were affected by the 2019-2020 economic fallout from COVID19. It might well take 10-20 years to get over this. Anyone looking at this would be reasonable to conclude this is a lost generation.
Babatunde Onabajo I wouldn’t look at it as a lost generation at all even with minor setbacks. Firstly the younger people have technology skills we could only dream of, and many are making careers out of social media platforms, bio technology, robotics etc that were not even thought of when we were younger, in fact Silicon Valley didn’t exist back then. Kids today have many more platforms and information on investing Sure the wealth is presently mostly with the older generation, but I can guarantee that when we pass on, our kids are going to inherit a lot more wealth from us than we inherited from our parents
@@HamiltonRb: I disagree with that. The same technology sector you laud is also the same sector that is automating away most jobs, which is going to affect young people in particular as they often start out their lives working in entry-level positions, which are usually repetitive.
Whilst it's true, as you say, young people are more "familiar" with technology, this is true insofar as they are end-users. They don't or can't build the same tech they are using.
Unfortunately young people will be hit in a big way because of the two economic catastrophes they have had to face just as they start their working lives. Sadly a good chunk might go through their life without realising their potential due to the circumstances. I do hope and pray I'm wrong however.
Ouch!! That hurts to be in oil right now. But I agree with Dave. And a good time to buy, but not sell
Once these stocks are able to be sold, it might help this person to sell them and put then in index funds or mutual funds.
I like to buy high and sell low. Works out well.
Now is the time for "Reservoir Fortification" where we buy crude at a deep discount, or preferably free, and storing it in depleted surface formation near refineries.
Who's 'we'?
Forget mutual funds. Learn to invest in growth companies, especially in tech/online sectors. There’s a reason they are the only ones hitting all time highs right now.
My mutual funds are doing great.. especially those in the tech sector.
And then a digital virus comes along and wipes you out
@@alexc5369 😂😂😂
Index funds are better over the long haul because mutual funds can't and won't beat the market and they charge you for them to try.
Index funds follow the ups and downs and charge infinitesimal fees. The reason that's better is the market always goes up, eventually. Reacting on emotion will kill any investment.
This is an interesting one 🤔📉
Yeah. Rock and a hard place. Kinda forced to gamble with it?
It's really not. Eventually this economy is gonna bounce back. Dave has been saying this since day one, don't sell cause ur scared.
should we take our money out of the bank.. I mean like thousands..
Why would you sell that? Just hold it. You don't need the money. Dumb move to sell.
RSU's? Free gift from your company. But tanked from $25 down to $5?
Sell enough to cover the taxes due on the vest, and hold the rest until it's up (which it will be)
Stuart Clubb i got a free stock from my job, I wanted to hold on to it, but it auto sold :(
@@iFYMxDRKNSFALLS bummer. Most corps give you three choices:
1. Sell all, pay the taxes, you get the remainder
2. Sell enough to cover the taxes, you get the stock at the new basis.
3. You keep them, but have to pay the taxes (including SSI and Medicare) out of pocket.
Personally, I go for #1 because I'm a mutual fund guy and don't like individual stocks.
@@stuartclubb4302 My company has these 3 options as well.
@@stuartclubb4302 ya lot of ppl at work recommended to sell to cover stock, but since the timing of me joining the company I only got 1 and wont get more unless I get promoted. But also I went exempt this month for the amount of OT I'm making, so taxes next year might be scary lol
Gas and oil? Hold on to it until COVID goes away and people start traveling.
Does this situation mean several months from now the oil companies will be equally as profitable as their operations were in 2019 or will their profits be affected?
@@funsizepolitics6107 if you are in it for the long term, it's best to wait and watch the market. When we get another good year like 2018, sell everything you have in oil
That won't matter if Russia and Saudi Arabia refuse to production cuts. Why would they? They LOSE money to prop up American frackers.
Thanks Dave👍
Looking for input on RSU and stock options in a start-up company. I have RSUs and stock options with a company in CA and I am a CA resident. We expect to go public shortly. I expect for a number of economic reasons, I will exit CA, but most of my equity will be vested while living in CA. I expect by the time I cash out I will be a resisdent of North Carolina for at least one full tax year. So, if I am separated from CA for at least one tax year and domicile and resident of NC, will CA be notified by IRS or NC that I sold my RSUs and stock options. Thanks for posting and any information yuo can share.
dont sell
I’m gonna disagree on this advice. If this guy should keep his stock then Dave should go out and buy some of this stock as well
I accidentally read this title and combined it with the next video, so I read "Is now the time to sell my girlfriend?"
😂😂
Ramsey doesn’t even know what RSUs are lol
Nice 👍
I like Dave's shows but I disagree with him when he says that this is due to the government suppressing the economy. Even if the government didn't do anything, the economy would have still taken a hit in the form of worker absenteeism, lower productivity, fall in consumer confidence, and so on. Actually, shutting down the economy is the most optimal thing a government can do in the circumstances. I do believe that at the outset of this pandemic, the economic fallout was "artificial". Sadly, what was artificial has now become real in the sense that businesses have closed down, government debt is going to skyrocket, unemployment is set to rise (and with it, the scarring effects the longer they are unemployed, etc etc).
The collapse of oil prices wasn't a government action. In the first or second week of March this year, oil prices collapsed because Russia decided against agreeing to further production cuts with other OPEC+ members. Saudi Arabia took offense and said they wouldn't cut production either. Oil prices dropped the Monday after that meeting. They kept falling week after week. At the same time, the coronavirus shutdown started around the world and began affecting consumption. China had already cut back consumption and industry at the beginning of the year which was putting pressure on oil prices, leading to the failed OPEC+ meeting.
Storage filled quickly and now there's nowhere to put it all.
I wouldn't call it a perfect storm, but it was as close as it gets to one.
Don’t sell dude. The oil companies stocks falling has almost nothing to do with Covid. It’s a supply issue, not a demand issue though demand hasn’t helped the matter. But gas prices are starting to go up & you will easily regret selling now because this is the lowest it is going to go. BUY & HOLD. Don’t sell.
Before this oil has been going down down down. Then covid... Also have to factor that petrodollar is on its way out. Oil producing countries are now using the chinese yeun soon their digital currency. Tough tough spot.
Hope he held
Oil is still going up
Just think, if he had a kid 1 year ago he'd have $60K not $12K. I think that's the first time I realized someone was better off having a kid sooner.
I would wait a year
Petrodollar cooked in the very near future.
I'm w/ Dave
Anyone know what stock he might be talking about? MRO?
Marathon Refinery
Probably the first time I've ever heard Dave give decent advice regarding stocks.
It's impossible for Dave to give decent advice any o&g stock in one unnamed company when he doesn't understand the oil and gas industry. He can't be an expert on everything of course, but o&g is far more nuanced than other stocks and other commodities. The price of oil is a world wide endeavor. No one is more attuned to it than Saudi Arabia which requires its budget be funded by over 90% in oil sales. They have the most to lose or gain of any nation on Earth.
@@keithsj10 But he did give decent advice here. He normally tells people to sell any individual stocks; "tomorrow morning" with no consideration for the daily or monthly swings of the market. Here; he at least advised holding on for a while to determine what the market is going to do.
DIVORCE, the destroyer of Wealth and life.... good luck to you my friend and i hope you learned your lesson..
Dave.......
Stay right where you are!!!! If you sell you permanently done. This is a 3 year stock we will never get rid of our cars they will go up.
This guy does not know what he owns lol
bb
Sell it. Buy some Gold and Silver. Dust off your bible also.
That would be a bad idea his oil will go back up but gold moves up almost nothing.
@@jason618 take a step back for a second. Do you think oil demand is going to go up within a month? I don't. They are out of places to store it.
@@silverltc2729 it took gold 10 years to go up 42% at it's highest in a good economy. It's a good hedge at the moment but oil will get back within 2 maybe 3 years. And gold I believe will have a sell off considering the upcoming recovery.
@@jason618 why is gold up in a good economy?
Gold stores value. The USD does not- it's called inflation. Prices dont go up, the value of paper fiat always goes down.
@@silverltc2729 yes yes yes 2% inflation every year on the dollar now a lot more because of bailouts. Oil is the number one commodity. The use case for gold and oil is totally different. No one needs gold to get to work in the morning.