dr_b
"My dad may never retire because of the market action
over one week. No kidding. Because of one week,
he may have to work the rest of his life. Man."
I hate to hear stuff like this!!
I'm really sorry for him.
In January, friend of mine who has all her retirement
money in a single fund asked me to look at it.
The fund had taken a hit in December.
I suggested that she wait to see if it got a bounce
and then get out.
The bounce came in late January/early February but she held.
It then proceeded to slip again.
In early March she asked again what I thought she should do.
I said (in a louder voice!) "Get out!"
She held.
April and May saw it rise slightly to near the January high.
I said... well, you know what I said.
The last time she and I had this conversation was in
early August as the price slipped again.
Just since our August conversation, she has lost
nearly $15,000. For the year, she is down about $35,000.
Losing 35K won't kill her, but it can't help.
When I asked her the other day why she decided not to sell,
she said, "Well, they have done really well in the past."
To which I replied, "Right, but that was THEN,
and this is NOW!"
Why is this simple concept so difficult for people to
understand? |
