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> Which is kind of my point: many people are looking at the last ten years and seeing that equities/S&P 500 can do no wrong. But things were painful in the prev

• throw0101a 6y ago
  > I will posit that 40 years is probably a bulk of the average person's investing years (25-65) Except that at 65 (the 'traditional' retirement age) one generally doesn't just liquidate all one's equity holdings. Best practices is generally to increase bond holdings as one ages, but going all-bonds/fixed income is rarely done as I understand things. Unless you've built up enough cash to simply buy an annuity so that it's now the insurance company's problem, or one has a pension, some form of equity returns are needed. At 65, most people's average life expectancy can be another twenty years in most developed countries (with a 50% chance of making it into one's 90s), so from start (ending school) to finish (death), that could be 60 years. And that doesn't include a partner that may live beyond you if they're of a younger age, and so would also use whatever resources are left for their own needs.