[catfish1957]

Sounds a lot like my in-laws. they are quite a bit older than your coffee buddy, and lived through a small bit of the depression.

They did quite well, but I shudder at what they could have accomplished by even just moving 10% of their CD money to equities in the '50's to today.

And they are not alone. I am old enough to remember that 70-80% of those born at that time were ghastly afraid of the market, due to what happened in '29 and afterwards.

[abb]

My parents (both born in 1914) were like that. CD’s only, and never all in the same bank.