Apr 18, 2021
11:45:22am
11:45:22am
My dad, who taught financial planning for a living, took his money out of the
market last spring during the early stage of the COVID outbreak and has kept it in a money market ever since.
He also panic sold after 9/11 and during the 2008 financial crisis.
If he’d just kept his money in an S&P 500 fund over that entire time, my parents’ liquid net worth would probably be several times what it is.
The irony is that as someone educated in finance, he was familiar with the adage, “the problem with trying to time the market is that you have to be right twice.” Sadly, he didn’t follow it.
He also panic sold after 9/11 and during the 2008 financial crisis.
If he’d just kept his money in an S&P 500 fund over that entire time, my parents’ liquid net worth would probably be several times what it is.
The irony is that as someone educated in finance, he was familiar with the adage, “the problem with trying to time the market is that you have to be right twice.” Sadly, he didn’t follow it.
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- Doctor Rosenrosen
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