You Cannot Exchange Statistics For Groceries
The crossfire at this point in time is incredible.
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Overall earnings lower
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Interest rates higher in the very recent past, refer to the prior editions. A primary explanation of the relative stability? Interest rate stability (it is NOT only level that matters). That creates problems for risky assets (calls into question, again, the idea of “there is no alternative”).
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Vanguard reports that the average retirement plan balance declined 20%, Fidelity says 23%. This is a good time to remind you that while markets are definitely higher so far in 2023, you are nowhere close to where you were on January 1, 2022. If you were -20% in 2022, and are up 4% in 2023, then you have 21% MORE to go, FROM HERE.
In the long run…
Yabit, there are bills to pay, and life happens. So while you could’ve stayed, as Vanguard says has occurred, real life can be somewhat different. I am not stating that the long-run statistics are wrong, I am challenging the idea that you blindly stick to theory and distortions that result from blindly following summary statistics.
The point here is that there is theory and then there is practical reality as it applies to living people. You aren’t the only one,