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re: Being "recession proof"
Posted on 7/8/13 at 2:42 pm to rintintin
Posted on 7/8/13 at 2:42 pm to rintintin
I've been through the last two recessions - '01 and '09. The first I anticipated and got out of equities at the top, and back in at the bottom ('03). Made a bunch of money.
The second I missed. I stayed in and rode it down and back up. That was very painful when down, but satisfying when the S&P 500 came back. Some of my coworkers panicked and sold when it was down. When you sell when it's down, all you're doing is locking in losses.
If you have a time horizon of more than 8 yrs, don't worry about it. It will come back and you're still adding dividends which will boost your holdings when it comes back. Staying the course in a down market is a lot more painful than you can imagine. Ya gotta have faith.
If you're smart enough to get out and back in at the right time, you'll be way ahead. But if you miss the top, staying the course is the only alternative.
Posted on 7/8/13 at 2:52 pm to Nawlens Gator
quote:
If you're lucky enough to get out and back in at the right time, you'll be way ahead.
FIFY
Posted on 7/8/13 at 3:09 pm to Nawlens Gator
quote:
Some of my coworkers panicked and sold when it was down. When you sell when it's down, all you're doing is locking in losses.
This is what's hard for me to grasp. Did they not think it would rebound ever? Or were they ready for retirement and just took the cash? Were they invested in index funds or single stocks?
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