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Old 01-31-2013, 06:26 PM   #21
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That's me, although I don't think that financially I have not done too bad compared to many of my friends.
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Originally Posted by NW-Bound View Post
I consider myself a pessimist, yet financially I have not done too bad compared to some of my friends who flocked to gold in the late 80s.
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Old 02-01-2013, 07:34 PM   #22
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Quote:
Originally Posted by obgyn65 View Post
That's me, although I don't think that financially I have not done too bad compared to many of my friends.
My own pessimism has served me well also. Now that I am retired, my investing goal is not to maximize wealth, but to avoid losing it. I am not a doomer, however, and expect the US economy to do well in the long run. But, that doesn't mean that I couldn't have my standard of living drastically reduced by a market crisis in the short run. Those who have read Jim Otar or Larry Kotlikoff know that a distribution portfolio is much more sensitive to loss than an accumulation portfolio. Since I have already won the investing game, at this point I have more to lose than to gain further. So, I am happy to continue as a pessimist.
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