That was what everyone in this community always advocated for, but here we are…
Now everyone is apparently holding mountains of cash waiting for “the bottom.” Completely contradicting what they had been preaching all along.
Personally, I am somewhere in the middle. I like to keep $100k of cash on hand at all times when we are at record highs, which includes my emergency fund and cushion for opportunities, or money available to pay down my mortgage if I so choose.
During this bear market, I am taking advantage of the opportunity and deploying $10k blocks every 5% down in the S&P below 10% down. Since we are at 17% down now, I am down to $80k in reserves. I will continue adding all the way down. I won’t technically run out of money until we get to 55% down, which I don’t see happening. Once we rebound I will build those cash reserves back up most likely through my income and not selling.