My parents, like a lot of unsophisticated middle-class investors, panic sold in 2008. In previous generations, they’d have had defined benefit pensions and prob

My parents, like a lot of unsophisticated middle-class investors, panic sold in 2008. In previous generations, they’d have had defined benefit pensions and probably not been involved in the stock market at all, or only moderately. And they probably had some crappy funds with excessive expenses, to boot.