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  1. #1
    Join Date
    Mar 2013
    Location
    Midwest
    Posts
    193

    Default How Are You Hurting From the Covid-19 Pamdemic

    Removed
    Last edited by Midwest Player; 06-05-2020 at 06:19 PM.

  2. #2
    Join Date
    Mar 2019
    Location
    Minnesota
    Posts
    136

    Default

    No stimulus check for me. I did get all of my OT cut, but after 4 decades of 50+ hour weeks I am glad.
    3 more mortgage payments left then I'm debt free. So the OT definitely helped there.

    I do NOT want to know how much my retirement fund has lost. Probably six figures.
    I am 10 years away from retirement so It'll come back.

  3. #3
    Join Date
    Dec 2009
    Location
    Neenah, Wisconsin is about 40 miles south of Green Bay's Lambeau Field.
    Posts
    1,923

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    No pain here, no stimulus check either.... so much for that. Income is fine and the bills are paid. Planning on some home improvements this summer to help the local trades people.

  4. #4
    Join Date
    Dec 2009
    Location
    Cloquet, MN
    Posts
    1,155

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    No big issues for our family. Wife and I both still working, got a tiny stimulus check, put it in the new sled fund! The biggest thing we've noticed is how much money we've saved over the last 2-3 months. Not going out to eat, not traveling, etc... our savings has swelled! Took a big 6 figure hit to the 401K but it'll come back before I call it quit in 5 yrs. All is still good here.

    Did just see that AAR in Duluth is closing its doors though. They do heavy aircraft maintenance. With the airlines flying such a reduced schedule they are closing the doors on this facility. 300 well paying jobs gone. Bummer.

  5. #5
    Join Date
    Dec 2009
    Location
    Watertown WI
    Posts
    1,960

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    Single income family. Wife lost 50% of hours and pay as an emergency room PA. Her employer really stuck it to the employees. We are doing fine so far, but if this continues for months, there could be some issues. No stimulus.

    And I suck as a homeschool teacher. But we finished it up for the year today. 2 elementary aged boys.

    She works at ER's around the state. All are extremely slow. Covid has not "overwhelmed" hospitals in WI. Not even close.

  6. #6
    Join Date
    Dec 2009
    Location
    Richfield, WI
    Posts
    305

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    Regarding the 401k losses...Some of you guys must be in some really bad funds!

    Market has come back quite a bit..I am down 7% year to date and 0.2% past 12 months.

    I guess if I had $1.5M in my 401K I would have lost $100k..but considering it would have been up 20% last year losing $100k amounts to whining...

  7. #7
    Join Date
    Dec 2009
    Location
    Neenah, Wisconsin is about 40 miles south of Green Bay's Lambeau Field.
    Posts
    1,923

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    We must be living in the Bizarro World (Seinfeld reference) Millions out of work, government writing checks it can't afford, worldwide pandemic....and the Stock Market marches on. Everyone took a hit back in March but despite all the bad news it's come back nicely. We're not there yet but doing much better than expected. It's been said that the Stock Market hates uncertainty...well what do we call this?

    https://en.wikipedia.org/wiki/The_Bizarro_Jerry

  8. #8
    Join Date
    Dec 2009
    Location
    Shorewood,IL and Woodruff Wisconsin
    Posts
    1,343

    Default

    I am working more then ever they forget who is still paying taxes so people can make more on unemployment then working. I have a big issue with that. So when everyone goes back to work do I get a vacation and a tax break? I know a lot of people want to work just a lot of them rub me the wrong way that they are making more money now.

  9. #9
    Join Date
    Dec 2009
    Location
    Manitowish Waters, WI and Village of Summit, Wisconsin
    Posts
    81

    Default

    Quote Originally Posted by harvest1121 View Post
    I am working more then ever they forget who is still paying taxes so people can make more on unemployment then working. I have a big issue with that. So when everyone goes back to work do I get a vacation and a tax break? I know a lot of people want to work just a lot of them rub me the wrong way that they are making more money now.
    Totally Agree with you......

  10. #10
    Join Date
    Dec 2009
    Location
    Manitowish Waters, WI and Village of Summit, Wisconsin
    Posts
    81

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    Has not affected us at all other than the annoyances of being told what we can and cannot do. I am business for myself and there are no handouts for us at all, anytime, anywhere, any year. We started the business 2 years ago and struggled until this year about March. We are about to close May with a huge month in orders and more importantly receivables look very good for the entire 2nd half of the year.

    We thought that COVID-19 might have an impact on our business but we kept working throughout the so called pandemic and are sitting pretty well at the half year point, again no help from Government.

    My only point is that if you work hard you can make it in life without counting on programs that subsidize you. I feel bad for the people that lost their jobs but I believe that they will come back. My wife was furloughed for two weeks in May but has since been called back, thank the good Lord because she carries the health benefits for us.

    Hope everyone has a safe and happy Memorial Day weekend, we will be up at our cabin in Manitowish Waters with the family and very much looking forward it.

  11. #11
    Join Date
    Mar 2013
    Location
    Midwest
    Posts
    193

    Default

    Quote Originally Posted by brad460 View Post
    Regarding the 401k losses...Some of you guys must be in some really bad funds!

    Market has come back quite a bit..I am down 7% year to date and 0.2% past 12 months.

    I guess if I had $1.5M in my 401K I would have lost $100k..but considering it would have been up 20% last year losing $100k amounts to whining...
    The majority of my investment losses did not come from my 401(k). At the time of the market meltdown I was only 42% in stocks funds in my 401(k). The balance was in stable value and bond funds. However, I have 8 mutual funds outside my 401(k) and all of them are stock funds along with some individual stocks. This is where I took the big hit, and together their value is more than my 401(k).

    History indicates that the last week after Memorial day is a pretty good week for stocks and if the market continues with its climb next week I'm going to move more money out of stock funds in my 401(k). They say "sell in May and go away." The second wave of covid is coming with the re-openings. By the way, my 401(k) is down 4.5% year to date, and over the last 12 months it is up 0.4%
    Last edited by Midwest Player; 05-21-2020 at 01:43 AM.

  12. #12
    Join Date
    Dec 2009
    Location
    Cloquet, MN
    Posts
    1,155

    Default

    Quote Originally Posted by brad460 View Post
    Regarding the 401k losses...Some of you guys must be in some really bad funds!

    Market has come back quite a bit..I am down 7% year to date and 0.2% past 12 months.

    I guess if I had $1.5M in my 401K I would have lost $100k..but considering it would have been up 20% last year losing $100k amounts to whining...
    Not whining either. Market has been very good to me over the years. It'll come back fine.
    Last edited by elf; 05-21-2020 at 09:05 AM.

  13. #13
    Join Date
    Jan 2016
    Location
    Waterford,Wi
    Posts
    1,005

    Default

    Not affected at all with exception to flow of parts, and products especially from one of the manufacturers we represent due to people afraid to come to work, To fix this issue bring back unemployment to the level it was before this overreaction, then we will see how many are afraid to go to work, also send out the unemployment police to check up on these people to make sure that if they are afraid to come to work that they are staying home and living in their protective bubble.

  14. #14
    Join Date
    Jan 2013
    Location
    Green Bay
    Posts
    48

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    No family or friends have the virus. One of the guys who I trap shoot with lost his father-in-law from what was said to be COVID-19. Now word is getting out that he did not die from the virus but the doctor was told to put that on the death certificate. You may have heard of him: Gerry Simonar from Simonar Sports (Ski-Doo) in Luxemburg, WI. He was 87.

    I do industrial equipment sales and am working from home but my company forced me to take one day of vacation per week. My wife got laid off from her job but is getting unemployment and got extra money from WI. However, she just got her new schedule and will be going back to work next month. Both of my kids are working full time in essential businesses. Wife and I have been ordering take-out food at least twice per week to try to help out local restaurants. Still shopping at Fleet Farm, Menards and grocery stores like always. We wear a mask when out shopping.

    My wife and I have been very financially responsible through the years. House, car, pickup and motorcycle are all paid for. No credit card bills or payments. My investments have taken a 6 figure hit but are coming back nicely. We kept some cash stashed away and are very glad we did. We haven't been affected by the virus badly but I feel bad for the businesses that have been forced to close.

    I have been watching all the data on the COVID-19 and how the way it is presented has changed since March. Seems that the data is presented differently to keep it looking as bad as possible. They kept saying to flatten the curve of total cases and when that started happening, they changed the stat to only new cases. First, China is not to be trusted with how they reported the virus information or anything else for that matter. Remember, China has a communist government. I think going forward, more information will come out that this virus may have been released on purpose to hurt the USA for the trade tariffs. China doesn't care if they killed people as a result, especially their own. If you subtract COVID-19 cases and deaths from nursing homes, meat packing facilities and urban cities with 500,000 or greater, the numbers are not statistically significantly different from other viruses. It is more contagious and only slightly more fatal.

  15. #15
    Join Date
    Dec 2009
    Location
    Neenah, Wisconsin is about 40 miles south of Green Bay's Lambeau Field.
    Posts
    1,923

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    Quote Originally Posted by BigSix View Post
    You may have heard of him: Gerry Simonar from Simonar Sports (Ski-Doo) in Luxemburg, WI. He was 87.
    Yes, I met Gerry about 10 years ago when I bought a new sled from his store. At the time he had a substantial collection of Vintage Ski Doo's dating back to the 1960's. A nice man and a good family to do business with.

  16. #16
    Join Date
    Dec 2009
    Location
    Green Bay, WI
    Posts
    1,969

    Default

    Quote Originally Posted by brad460 View Post
    Regarding the 401k losses...Some of you guys must be in some really bad funds!

    Market has come back quite a bit..I am down 7% year to date and 0.2% past 12 months.

    I guess if I had $1.5M in my 401K I would have lost $100k..but considering it would have been up 20% last year losing $100k amounts to whining...
    Yup, same here; down about 7% as of 2 days ago.


    Depends on a persons age group though, back in 2008ish I was down over 50%, almost all high-risk stocks.

    Today, I am on auto-rebalance with a 2027 retirement date that reduces my stock ownership each year til I retire.
    Today, 66% stocks.

    Bear

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