Stormy Kromer
Thinks s/he gets paid by the post
- Joined
- Oct 1, 2017
- Messages
- 1,159
I'm sure several forum members remember October 19, 1987, aka Black Monday.
I was 22 years old and had just invested my life's savings into two different mutual funds on Thursday, October 15th. $10,000 hard earned dollars were worth about $6,000 the next week. I didn't sell and actually kept buying as I could and stuck to it. It hurt, but calm heads won. The only saving grace for me was that the MN Twins won the World Series, something I thought I'd never get to see.
Just a friendly pointer to young investors on the forum, there are going to be corrections in your investment lifetime, take them in stride and stay the course. It really does work.
I was 22 years old and had just invested my life's savings into two different mutual funds on Thursday, October 15th. $10,000 hard earned dollars were worth about $6,000 the next week. I didn't sell and actually kept buying as I could and stuck to it. It hurt, but calm heads won. The only saving grace for me was that the MN Twins won the World Series, something I thought I'd never get to see.
Just a friendly pointer to young investors on the forum, there are going to be corrections in your investment lifetime, take them in stride and stay the course. It really does work.