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This happened to several senior colleagues of mine circa 2008. They were overinvested in stocks (for their age and retirement timeline) and when the market took
by Jtsummers 2y ago
This happened to several senior colleagues of mine circa 2008. They were overinvested in stocks (for their age and retirement timeline) and when the market took a nosedive several made rash decisions to sell rather than wait. While they may not have recovered within their desired timeframe, they would have been better off waiting and getting something back instead of selling near the bottom.
- lotsofpulp 2y agoIt only took 6 years for SP500 to return to its peak. If they were planning for a retirement longer than 6 years, they would have gotten a ton more back. All you have to do is hold bonds or treasuries for the next few years worth of expenses, and then let the federal government take a few years to pump up the markets again. If that doesn’t happen, then you have bigger things to worry about than your 401k balance.