Originally Posted by obgyn65
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.