How much can you face mentally, emotionally and financially when the stock market finally crashes?
I have survived, just barely, two major stock market crashes. 2000-2003 and 2007-2009. As my investments fell almost every day, I had panic attacks and did not sleep well. I was down hundreds of thousands of dollars. I lost more money some weeks than a year of contributions to my 401k plan when I was younger. I felt sick to my stomach.
The 2007-2009 bear market and general financial crisis was even tougher because the media was reporting a possible 1930s type depression where the stock market could of dropped 80% or more. By early 2009, the market had already dropped 55% and there was no talk about get finally bottoming out. (We did not know at the time that in March 2009 it would start going back up and increase 400% percent.) Many of my friends thought it would go to near 0 and bailed out at the bottom and put the money they had left over in cash.
So...Are you prepared mentally and financially for the next bear market?
Submitted September 27, 2018 at 06:03AM by KillingTime56 https://ift.tt/2R4teOa
