Re: Coronavirus scare causing markets to fall
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I saw the 2020 recession depression coming late last year, so moved all my super from shares to cash guaranteed.
At my age and a few years away from retirement, I'd rather see my portfolio not grow as long as I don't lose my invested capital.
I learnt my lesson during the last Australian recession of 1990, when I had most of my super invested in shares.
I lost most of my super and it has taken me the last 30 years to build it back up again.... I'm too old to start over again and wait for it to bounce back again in the usual economic 7 year cycles, so once bitten twice shy as they say.
Folks... Things are going to get ugly and very very quickly.
Had some bad news today...
My youngest daughter is a store manager at a Flight Centre branch.
Just heard on the news the shock announcement that Fight Centre is permanently closing 100 stores, and her store is affected with the travel downturn at the moment.
Its time for everyone to seriously look at their super and financial situation.
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