Average is Not Normal
February 6, 2009 - 6:01pm — bexThis is a pretty concise presentation about the stock market... it puts the current downward swing into perspective:
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- The reason is simple - people
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wow cool slide viewer
That really hits home for those trying to retire in the last few years. My mom is facing this, just as she turned 62 the market took a nose dive and she saw half of her retirement just vanish.
Average is Not Normal
@Bex: thanks for the kinds words and for sharing this story with folks. It is stories like your reader (clm) that commented about his mother that recently retired that made me realize that the behaviorgap story had to be told.
@clm: hope things go well with your mother, feel free to email me if you have any questions I can answer for you about her situation. Carl@behaviorgap.com
careful carl...
I get a lot of spam bots lurking on this site... putting your email out there like that will guarantee a zillion emails from Nigerian 419-ers... ;-)
Regarding the current market downturn, I stand by this quote:
"If people were dependent on the stock market going up to be confident, they’re in the wrong business." -- Warren Buffet
its a sentiment that too few financial planners share with their clients...
I think Slide 26 can be the
I think Slide 26 can be the most dangerous position to start from. It creates false confidence.
agreed...
Starting at slide 26 will cause you to put EVERYTHING into the equities market... because "things are different this time." Then you'll promptly lose everything. I prefer investing over time, and keeping in mind that the stock market is the last place to go to if you want to get rich. Stocks are for maintaining wealth over the long term, not for creating wealth.
If your broker actually knew how to get rich on the stock market, he wouldn't be a broker. He'd be retired.
Starting your own company is the only true key to independent wealth...
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