>>I'm still alive, and many of my friends who were middle income are now upper middle class.
Yep, we're dying like flies! LOL<<
...said the stock investor in early 1929.
One of my friends had an incredible retirement portfolio. She and her husband had $850,000 and were set for a very heavy retirement. If you had talked to her then about a coming "bust" she may have said what you just did.
That was in January of 2000. She is in her late 60's now and back at work. That retirement portfolio is currently at ~$150,000, thanks to the 2000 beating.
IOW, get back with me later in the year, after those $1,000,000,000,000 in loans reset. If you say the same thing, I will say you were right and I was wrong.
That was in January of 2000. She is in her late 60's now and back at work. That retirement portfolio is currently at ~$150,000, thanks to the 2000 beating.
Clearly, she is an idiot as far as investing goes. I never lost more than 8%. It's all back, and then some, and then some more! (and a little more on top of that)
I was sitting pretty in 2000, and lost money in 2001 and 2002. I now have far more than I did in 2000; if that "heavy retirement" portfolio did not come back in the boom years we have had since 2002, it was VERY badly invested. The "2000 beating" was over and done with long ago.
As you near retirement, you are supposed to be primarily in fixed income investments. That's what those 'Lifecycle Funds'
are for.