I was 44 in 2008, did the panic pull and late to get back in. However did get back in, now using index funds. Thankfully have enough liquidity to wait out a downturn/upturn. My advice when the downturn hits, do not watch! Trust history and wait for the recovery!
Thanks for sharing that Cathy. Always interested in hearing people's experience in 08-09. Sounds like you learned all the right lessons from that time!
So true, as soon as you described that person, I was like "yup!" My favorite is when they then proceed to tell you how they outsmarted everyone with their strategy!
I was 44 in 2008, did the panic pull and late to get back in. However did get back in, now using index funds. Thankfully have enough liquidity to wait out a downturn/upturn. My advice when the downturn hits, do not watch! Trust history and wait for the recovery!
Thanks for sharing that Cathy. Always interested in hearing people's experience in 08-09. Sounds like you learned all the right lessons from that time!
Hard lessons indeed!
Really enjoy this analogy of panic selling to a mid-life crisis!
Thanks Jenny! When I read the description of the person most likely to panic sell “45 year old, married dad” it kind of wrote itself lol
So true, as soon as you described that person, I was like "yup!" My favorite is when they then proceed to tell you how they outsmarted everyone with their strategy!