How much has Covid affected you financially?

[GRHorn 105]

I wanted to see how this forum is doing. I’ll start. Down 50% currently. 

[gmr548 16580]

I haven't even looked at my 401k or IRA. Everything I have is just index funds so I'd imagine closely aligned with the broader market.

Job is pretty secure for now. My boss was still talking about our biannual bonuses this week, which was kind of a surprise, and I have plenty of work. I'm in multifamily real estate so if(when) people start missing rent payments at higher clips, we could end up feeling that as our clients start dialing back work or being unable to pay.

[workswithseed 2112]

The girlfriend has no work, but I'm a welder, and we do infrastructure with pipe. We're about to have lots of overtime pretty soon.

[MadBurgerMaker 404]

Wife and I both work for a UT institution, so our income is the same until they RIF all of us once this thing is mostly over.  I have to wander in to work and sit there by myself for a few hours, so that sort of sucks. 

[Incredulity 11675]

Not yet, but it’s coming.  Lots of chatter in regards to project cancellations/delays.  I am pessimistic about 21 if SIP lasts through May.  

Edited April 17, 2020 by Incredulity
Extremely pessimistic was too much

[GreenspointTexas 9645]

Lost 20k over the last 4 weeks. Looks like itll be back to normal for me next week, but id rather us stay closed up until late May, even if that means another 30k in lost wages

[BabaBooey 131]

I'm in Midstream here in the Houston area and it's been business as usual. We've got a RR commission audit going on right now, but everything is being done virtually. We run fairly lean on operations, so I have a feeling our jobs are pretty much secure. I've got 2 kids in daycare with one going in to kindergarten in August, so them being out with everything closed has saved us around $420 a week in tuition since this all started. Also helps that my wife is working full time from home now and not driving to and from work. (gas,tolls,etc). 

[FartingMonk 3608]

Yeah.  Work in a plant.  We are still running pretty heavy trying to make turn cow farts into vinegar and methanol.  Disposable income can't be used since everything is shut down.  Took a loan on my 401k right before it got really bad and did a lot of opportunity buying.  

[Foosters 17858]

Besides the obvious hit to 401, IRA, etc., employer has stopped matching contributions (9%) to retirement accounts. No furloughs or layoffs expected. Fingers crossed.

[Js1 85397]

Got an 8% raise a week before we went WFH

$1200 stimulus 

No expected cuts or furloughs and busy as fuck still 

[HornsOverIthaca 2334]

Furk.  I should’ve read the damn question.

[Wulaw Horn 19092]

No money in the market to lose. 

Income is up with interest rates being down so that’s kept me busy. $3900 worth of stimulus money. So far I’m fine. 

If we go into a depression I might get got (even though I work for myself) but will probably figure out a way to make a buck or three in that market. 

I’m not worried about me I’m worried about the bottom 40-60 percent. This is going to kill those guys if this keeps up. 

[bschoolprof 6263]

Surly 1% not really affected by the shutdowns. Yet.  

[Deej 76830]

Moved my 401k to cash in late January. Getting it back into the market, now. 

[LebongJames 1812]

401k got hit but we had the best 1st quarter we’ve ever had. We also did enough starts this week to do 10k for the year. It could get bad over the next couple of months depending on how everything goes with home builders.

[UT_OB1 2224]

March was a bad month to start up our second AirBnB in a spring break/summer destination. 

[bschoolprof 6263]

1 minute ago, UT_OB1 said:

March was a bad month to start up our second AirBnB in a spring break/summer destination. 

Wuhan?

[Parliament 14260]

I'm balancing the cost savings of furloughing my Instagram sugarbaby with the likelihood she'll tell my wife and get me divorced.

[UT_OB1 2224]

1 minute ago, bschoolprof said:

Wuhan?

Nice. Slowclap.gif

[FORTY NINE TO ZERO 2652]

401k and stocks down 

Partner in an industrial distribution company. business is a little slower, but nothing drastic.   Oil has gone to crap, but most of our business is in plants which still seem to be rocking and rolling. 
thankfully we got the ppp loans finalized before it ran out of money, so that should buffer any possible major downturn.  We should be able to give all the employees their full paycheck with personal bonus for the time being. 
 

my Miami Beach Airbnb is surprisingly still be rented.  So that is also nice. 

 

Edited April 18, 2020 by Xian

[Not a cat 5660]

Income unchanged but can't imagine December bonus will be strong.  401k pummeled like everyone else.  All in all, can't complain, I'm doing better than most out there.

[Helobious 9462]

Bunch of non-question reading mofos in the replies here.

[Errestaurants 2570]

I'm in the restaurant business...

[rage-a-holic 4402]

Might want to match the title of the thread with the poll. Two different issues.

[El Diablo 4232]

We sell masks and mask accessories. Sales are strong.

[TwiceHorn 31495]

My clients are sending nearly zero new business so far in April.  Got some ongoing stuff that I expect to be slow-paid on.  Not sure though because no one has been explicit about it.

I can survive and had enough cash out of investments that I don't have to lock in market losses.  Buttfucked on investments.  Tax time is probably going to suck, but cash flow may have recovered by then.

[Scheiss Meister 8408]

There isn't a lot of money in wastewater treatment, but as long as people eat, I have work to do, and business has stayed steady.  Now, if revenues are down at the end of the year, and they will be, there might be pay cuts on the way, but right now things are ok.

[Armybrat 40850]

I marked down 0-20% because my oil royalties have recently plunged from mid-four figures to about Quarter Pounder level.

Does not affect our lifestyle like those losing large amounts or their jobs. But it will be missed.

[LTtxfan 49245]

3 hours ago, workswithseed said:

The girlfriend has no work, but I'm a welder, and we do infrastructure with pipe. We're about to have lots of overtime pretty soon.

 

Man my mind's in the gutter... this read's like a line from "Magic Mike"

 

[workswithseed 2112]

I fucking wish I looked like that.

[Walte464 450]

Took a 30% pay cut with no bonus until end of 2nd quarter, I’m still doing well but people who are used to a certain lifestyle are fucked.

[William_Cannon 86]

15% hit to retirement accounts, but I have a feeling I’ll lose more when the market will implode again through August. 20k losses in non retirement account.

Feeling like I’m beyond blessed.

[Bevo 13579]

I was pretty much shut down, but I was able to slash expenses and have decent insurance and I own my properties. Now, I am booked through June and will have to stay open more days to fit everyone in without pushing them into July. So I'm not worried about the future, but I don't think I will get much of a vacation this year.

[TwiceHorn 31495]

17 minutes ago, LTtxfan said:

 

Man my mind's in the gutter... this read's like a line from "Magic Mike"

 

Steel Shank lays it, wws welds it.

[SaucyJack 3488]

44 minutes ago, rage-a-holic said:

Might want to match the title of the thread with the poll. Two different issues.

 

[Armybrat 40850]

4 hours ago, workswithseed said:

The girlfriend has no work, but I'm a welder, and we do infrastructure with pipe. We're about to have lots of overtime pretty soon.

Lay a lot of pipe you say?

[workswithseed 2112]

7 minutes ago, Armybrat said:

Lay a lot of pipe you say?

Gotta go deep in that crack if you will.

[F250 28777]

Income is fine. My investments on the other hand, let's just say my latest statement started with this...

[NorthLoop 14215]

Wife is a school nurse, so she's fine for now. She's honestly worried about the fall though. If they don't re-open campuses, they might not need nurses. 

 

The massive corporation I work for took a huge hit from the cut of elective surgeries, but the company as whole hasn't laid anyone off and has said they won't. Even if they do, I work in a division that's still essential so no big whoop. Honestly my job has been pretty cush since all this happened. Less work, but the work i do is way more needed. Once electives come back though, I'll be looking at 60 hour weeks for probably the remainder of 2020. I'm not gonna complain about that though considering all those who have lost jobs this Spring. 

[Zepol87 9188]

Starting a new job in 2 weeks with a pretty good pay increase, girlfriend got furloughed though

Edited April 18, 2020 by Zepol87

[TexArcher 37975]

I've been asked to take on a different role for approximately three months, but it's work-from-home and my base salary is the same.  I just can't make progress toward an annual bonus.  But my firm has committed to not laying anyone off in 2020, so I count myself as lucky.

[Celery Man 20966]

Not looking at my portfolio but it was gruesome when I had to log into fidelity for something else and saw it with my peripherals. No big deal, there’s time.

No annual cost of living increase, salaries frozen for the time, some layoffs coming and the overall industry is hit very hard so a lot of uncertainty beyond that. I think I’ll be fine in the medium term (don’t expect to get caught in the layoffs). Bonus did come in just under the wire. Working from home is no problem for the team, and we’ve been busy, but bad times for the overall business.

Wife and I were talking about a move this year. Not sure how realistic that is or how to handle potentially selling a house.

[ImissWallyPryor 9046]

We were down a cool thousand at it’s worst, but we’ve recovered about half of that. We have two brokers, one of whom had us in more energy, so Russia v. Saudi Arabia accounts for some of it, China the rest. That’s cool. It’s all on paper, right?

Edited April 18, 2020 by ImissWallyPryor

[workswithseed 2112]

1 minute ago, ImissWallyPryor said:

We were down a cool million at it’s worst, but we’ve recovered about half of that. We have two brokers, one of whom had us in more energy, so Russia v. Saudi Arabia accounts for some of it, China the rest. That’s cool. It’s all on paper, right?

🙃

[936horn 910]

Better off really. I am lucky to work at a good company with a solid balance sheet in the midstream sector. I actually just got a raise Apr 1, but I am aware this is not most people's experience so for that I am thankful. Not eligible for the stimulus but again, thankful for that really. I am glad people who need it are getting it.

Another positive for me is that while my 401k is down about 15% YTD, my brokerage and other accounts including an old Roth IRA are humming nicely and are more than making up for it. Being at home all day has given me a chance to have a second career as a day trader. Just between Monday and Thursday of this week I was able to nab >350% profit off AMZN calls. Up until the last week or two, this was one of the most predictable markets and riding the up trends with calls and down trends with puts has added a good amount to my non-401k accounts.

Finally, I am really enjoying being home with the family. My daughter pops her head in my office a few times a day and comes to see what I am doing. It's a nice distraction.

[GRHorn 105]

10 hours ago, rage-a-holic said:

Might want to match the title of the thread with the poll. Two different issues.

Yep. First poll I've put on here. whoops

[GRHorn 105]

9 hours ago, NorthLoop said:

Wife is a school nurse, so she's fine for now. She's honestly worried about the fall though. If they don't re-open campuses, they might not need nurses. 

 

The massive corporation I work for took a huge hit from the cut of elective surgeries, but the company as whole hasn't laid anyone off and has said they won't. Even if they do, I work in a division that's still essential so no big whoop. Honestly my job has been pretty cush since all this happened. Less work, but the work i do is way more needed. Once electives come back though, I'll be looking at 60 hour weeks for probably the remainder of 2020. I'm not gonna complain about that though considering all those who have lost jobs this Spring. 

I agree mostly on the elective surgeries, but it may not be as busy as we think. Less people will be able to pay copays, some lost insurance totally etc.

[Wally Fairway 5559]

day-to-day I'm actually saving money, because working from home, no restaurants, etc
retirement, I'm trying to mitigate losses in IRA/401k but still down about 5-7% - so not horrible

my oldest daughter is married to a truck driver, so he is busy, she is isolating with 3 young kids
my son is deployed in Iraq, and they have started to isolate - so chowhall is to go orders only, no social or physical fitness activities, only work (motorpool) and barracks
younger daughter graduated college in 05/19, job is on permanent furlough, likely not going back - it will actually give her a chance to reset, but she can't see it that way
youngest, son, is home from college 2nd year and hating it, bored to death, classes end next week....then what?

All-in-all we are doing better than many and are thankful for what we have, and trying to help those near us 

[Onboard 2.0 9083]

I'm a sole practitioner, I've had one client put a project on hold, simply because she has some health issues, and her husband is a surgeon, (so they're in major bunker mode). I've picked up 2 new jobs in the past week, and almost every other client is asking when I'll have drawings finished for their projects.

I'm saving gas money, and lunch money right now...

[hornbri 1400]

Income is flat, investments are obviously down but that is just on paper and doesn't count as a loss unless we sell. Made some extra money in investment accounts on option trades that was realized so I guess that is a plus.