Over the weekend, Your Survival guy re-read Richard C. Young’s Intelligence Report from August of 2015. In this classic issue, he explained how the NASDAQ declined by more than 20% four times so far this century. You can add another to the list from 2022. And that’s not counting some fierce volatility in years when the NASDAQ ended up for the year.
For evidence, need we look beyond this past April? How many friends and family asked you what you were doing with your money? Not that the NASDAQ is out of the woods for the year.
Further along in the issue, Dick concluded that if you are not a patient investor you will be pressured to get out of the market in such instances, especially when you’re in retirement. But if you study the greats like the late great financial editor Richard Russell and his classic Rich Man, Poor Man, you just might learn a thing or two.
In Rich Man, Poor Man, Russell points out how he, the rich man, doesn’t need the markets, and unfortunately, most investors act like the poor man, hanging on to every headline and market close like nervous wrecks. Worrying one’s way through retirement is no way to live.
Action Line: Beat inertia. Be a rich man. If you need help, get in touch with Your Survival Guy by emailing me a ejsmith@yoursurvivalguy.com. And click here to subscribe to my free monthly Survive & Thrive letter.
Originally posted on Your Survival Guy.
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