Well conventional thinking goes that the retired can't afford loss, so they should be in bonds. Hard to make the change, though, while market is growing at 20% a year, and you're becoming a millionaire. Then you made 200k the next year, and things are looking great.
When the Obama office won in '08, the market was cut in 1/2 in short order. How many people do you think sold, when the market fell 500 points on the first day? Don't you think most people held on, hoping that there'd be a rebound?
You stupid ass, the market lost its value when Bush was in office, look it up. He had a surplus and ended up with a deficit as well as a mortgage bubble and a market crash. Bush was a really successful president wasn't he?
OK I looked it up:
http://finance.yahoo.com/echarts?s=...n;ohlcvalues=0;logscale=off;source=undefined;
I also lived through it, alert. Paying attention. The market crashed on Obama's election, down from 9 to under 7,000.
You're like the rest of the liberals. Deny the facts and blame someone. Bush wasn't good financially, but all the libs can talk about -- still -- is Bush.
So since you're such a smart guy, tell me: did you buy at Dow 6,900? Or did you sell? That was the salient point we were discussing before you decided to interrupt and blame Mr. Bush.
I think it's really Carter's fault.