
Originally Posted by
MumblesBadly
Yes. You have taken it like a champ. But you didn't seem to learn the expensive lessen of the experience: Diversify except where you have a competitive advantage (e.g. your business). Meaning, make bank with your business each year (e.g. $400,000+ per what you have mentioned m), and sock away $100,000 a year into a diversify financial portfolio for the next 20 years. And by then, you will hopefully be able to sell the business for 8-10 times your net to the next generation, and retire to some low-cost ex-pat paradise like Costs Rica, sitting on a serious pile of cash and living like a king.
Or ignore the lesson and bugger off 50% or more of your potential future wealth jerking around in the market like a gullible noob.
Still got that subscription to Money magazine?
Last 20 years diversified portfolio returned 8% (1994). 100k --> 530k
Last 20 years inflation cumulative 60%. 100k ---> spends like $160k
Deferred taxes blah blah blah Pooh would be paying more heed to Druff's coupon clipping threads.
Pooh should avoid all risk and quit his business and work some salary job for some fat conglomerate, right?
Winners embrace risk.
Help me
Punk rock band 80's Song lyrics included: "average, average, you're only average!"
Who was the band.... killing me