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<blockquote data-quote="SlugSlinger" data-source="post: 3868776" data-attributes="member: 7248"><p>You are right about trying to time the market, I am. And you’re right about the dollar cost averaging, slow and steady comments, that is how to grow wealth.</p><p></p><p>I have been dollar cost averaging for almost 27 years at this point and have been successful with growing the investments. In 2008 I rode out that crash, but moved my investments from the S&P fund I was in to a more aggressive growth fund and grew the investment faster than it dropped. We have been in the longest bull market in history and the aggressive fund has returned good growth. However, riding out the over a 50% drop in the value of my investments was a tough, but came out the other side in a much better financial position.</p><p></p><p>With the knowledge of the 2008 crash, I saw the same thing coming with the crazy ass liberal in office now, but didn’t realize it was going to be exponentially worse.</p><p></p><p>I sold most of my investments (other than my energy stocks) when the current administration was inaugurated. The primary fund I was in, that is tech loaded, was $24 when I sold most of it, the fund increased to $27 the following year before dropping to $18 today.</p><p></p><p> I sold when the investment was going up, most people were buying (the reason for the market going up). And when everyone is selling or have finished selling, I will be buying.</p><p></p><p>For those who are young and growing their nest eggs, do exactly as you describe, that is the best way to grow wealth. However, once wealth is accumulated and retirement is around the corner, it’s time to consider other ideas, divestitures, and mitigation of risks.</p><p></p><p>I’m afraid the recovery from the current financial disaster will be longer than the 2008 scenario. However, this is the best time to be buying and where the dollar cost averaging dynamics come into play and add tremendous value to the portfolio over time.</p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3868776, member: 7248"] You are right about trying to time the market, I am. And you’re right about the dollar cost averaging, slow and steady comments, that is how to grow wealth. I have been dollar cost averaging for almost 27 years at this point and have been successful with growing the investments. In 2008 I rode out that crash, but moved my investments from the S&P fund I was in to a more aggressive growth fund and grew the investment faster than it dropped. We have been in the longest bull market in history and the aggressive fund has returned good growth. However, riding out the over a 50% drop in the value of my investments was a tough, but came out the other side in a much better financial position. With the knowledge of the 2008 crash, I saw the same thing coming with the crazy ass liberal in office now, but didn’t realize it was going to be exponentially worse. I sold most of my investments (other than my energy stocks) when the current administration was inaugurated. The primary fund I was in, that is tech loaded, was $24 when I sold most of it, the fund increased to $27 the following year before dropping to $18 today. I sold when the investment was going up, most people were buying (the reason for the market going up). And when everyone is selling or have finished selling, I will be buying. For those who are young and growing their nest eggs, do exactly as you describe, that is the best way to grow wealth. However, once wealth is accumulated and retirement is around the corner, it’s time to consider other ideas, divestitures, and mitigation of risks. I’m afraid the recovery from the current financial disaster will be longer than the 2008 scenario. However, this is the best time to be buying and where the dollar cost averaging dynamics come into play and add tremendous value to the portfolio over time. [/QUOTE]
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