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Originally Posted by CoachKandSportsguy
Haven't lost sleep in over 20 years, did looze sleep back in the 2000 -2003 bear market, as I doubled my money and then lost it all. . still writing off the losses on my taxes. . .
Back then they said, keep 6 months of cash for a job loss, how about 3 years of not being able to find a job? Happened to my boss at a different time period as well.
financial disaster can happen to anyone, one might not be able to see how because the future is always uncertain. . . the trick is to maintain capital, there will be down years. . .
And yes, i have talked with plenty of people who time the market for a living, have been in live trading rooms with people trading for a living. . . . many live in FL. It requires a certain personality and lots of dedication, but it can be done, and with python software, writing trading algorithms is becoming easier and easier. . though my learning python is slow. . . with this stupid 10 hour a day job. Quitting in June after my 401K is fully funded for the year. .
hint: the options trading and expiration cycle has a huge influence on daily / weekly price action.
trading guy
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I was not trying to put you down.
It depends on what you’re looking for and what is the final goal. My wife and I have been retired for over 12 years. We live in the Villages and have a comfortable life that is fully cover by our pension and social security. We also have 401Ks which we only draw the RMD that is required. As I said in an earlier posting we are not speculators in the market but rely on dividends that is totally reinvested. Eventually one of use will pass on and at that point the dividends will cover cost the of lost income. When we are both gone our children will be left with a decent inheritance. Granted we don’t have a 50’ boat or a second home in the Bahamas, but we have a happy life without any worries. If I had to do it over again and was younger there are legal ways to make guaranteed return on your investments other than the stock market.