NYClicker....to answer your question about seeing it coming...
at it's peak my distribution was 70% stock position.....today it is 25%.
Converted over an 18 period to fixed income investments. Not a guarantee but certainly allowed(s) for less volatility with some recovery capability.
A good example (I think) our portfolio at the current low point of the market is equivilent in value to it's October 2008 level which was then 1500 points higher.
If one works with an investment planner that knows what he is doing, you can be better off and they will not recommend....cash!!
Optimists would say we are closer to the bottom now than we have been!!!!!
It will come back.
BTK
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