As much as I feel miserable when there is a correction, I really need one. Because I’m still in “invest” mode, because I’ve got years until retirement. So it feels good to suddenly have more money, I don’t have more money, because I can’t sell off, I’m still buying every week, and I’ll make a lot more money if the market corrects and comes back, then if it just keeps rising.
I lost a ton of money in 2007, but I made a ton more between 2009 and 2012.
As I said, I want the Dow to be at 20,000 when I retire. And if I could, I’d like it to be at 10,000 the day before I retire.
I feel pretty lucky about 2009 to now. 2007 definitely stung for all involved but just staying cool and taking advantage of the ebbs worked pretty well. I feel pretty confident about weathering a correction. You have to stay in the game and take the long view, and not pile everything into one basket but I see no reason to panic. I think the sequester will be good for the market, I wish we could have a few more of them actually.