Moemg
Gone but not forgotten
I also learned that as Khan says I'd rather sell a kidney than return to work .
Great thread Brewer !
Great thread Brewer !
One in the hand is better than two in the bush ?
I've heard the latter requires special stretching exercises...
- My 55-60% equity AA was too much at age 60; letting it settle back down in the 45-50% range.
I learned that I need to learn not to be greedy.
Coach
Yes, good point. Talk about systemic risk! When my neighbor makes bad decisions, the bill gets sent to me. I now think financial/economic literacy education for the public is every bit as important to society as driver's education and civics classes. It's not just about balancing your checkbook, it's about getting your finances in shape so that your money works for you and everything is on a sound footing--and then insisting that the government do the same. I hope we get there someday.
- I knew there was a housing bubble, but thought I was immune. Never realized how expensive other peoples mistakes (individuals, banks, Wall St and especially the primary source of the whole mess, the US government & Fed) could be to me. If there is a way to protect myself from this, I haven't figured it out yet.
I learned a 40-45% equity allocation works for me
I learned the "hurry up and do nothing" approach to rebalancing can be a workable strategy
I learned having 8+ years worth of expenses in a combined cash bucket and SS income lets me sleep at night
I learned that being debt free (including no mortgage) also helps with the sleep at night thingy
I learned I'd much, much rather cut expenses than go back to w*rk
I learned that months of the news media screaming "THE SKY IS FALLING" can work on my ability to sleep at night and cause me to question the benefits of all the planning above.
And had you listened to your gut in 2004 and backed off your equity exposure, you would have missed out on an additional 35% gain prior to the market peak in 2007.I learned that I should pay attention to my gut feelings...
My gut was telling me to back off on my equity exposure and increase fixed income. Hard to do when the markets are rocketing to new highs.