southernhybrid
Contributor
It wouldn't work for me either. I didn't want to make this personal, but it's my dearly beloved who has lost lots of money in the market. I'll spare you the details. We can always vent about the things our partners do that drive us nuts in the lounge, if necessary.
Still, we are doing much better than the majority of people our age. No debt, considerable savings. Nobody needs more than that. If I had tons of money, I'd love giving most of it away. Too bad, Bezos doesn't see it that way.
The biggest concern I have is if one of us should need long term care. Long term care insurance is expensive and usually only covers a few years of care, but we could discuss that some other time.
Taking a dip is one thing. What I read is that the biggest mistake small investors make is holding a stock that keeps tanking, not just taking a dip. My bro in law lost about 750K by holding onto a stock that eventually went bankrupt. That's what I was talking about. Sometimes you have to take a loss to get out of a losing investment.
