We didn’t always have a 24/7 news cycle in our pocket that we could pull out and read that had brand new click-bait-rage-bait headlines.
Do you think you’re more informed now or more manipulated?
In 2008 entire banks collapsed. It was a scary time, and it was different than others. But you still didn’t know how it would turn out ahead of time, so you stayed the course.
But what if you’re a doomer and you are right this time? The US goes down. What happens to the cash you’re sitting on if it’s in US dollars? What happens to the global economy? It’s not like a button gets pushed and all the wealth goes from one country to a new one. What exactly is the plan? Fear.
If you’re near retirement age, why did you ignore the conventional wisdom and stay in equities? Shouldn’t you have been primarily invested in bonds at this point? Did you think you’d continue getting 20% returns and then time it perfectly and get out when you were ready? The truth is, you probably ‘should not’ have had those gains in the first place. I’m not upset that you did, good for you. But you took a risk at a later point in life that goes against what most suggest. Greed.
I’ll continue making diversified investments like I always have. I hope it turns out well for all of us. I don’t know what’s going to happen ahead of time, and there’s too many moving parts to accurately predict anything.