If (just) 1 million of YOUR wealth evaporated quickly, Im betting you would be affected. Whats the plan for that? Being all seeing all knowing is a gift, not a plan. Maybe you are Buffet, and you can lose 80% and it has no affect on quality of life. Doubtful.
I think it is all about what you are used to. I grew up in abject poverty. My parents bought a house in 1960 for $4000, sold it in 1980 for $6000 in WV. My parents brought up 3 children on welfare. I had a pretty happy life then. I played music with my friends and learned to love nature. If that is what I go back to in retirement I will be a happy camper. I don't need anything but food, shelter and friends. Happiness is not found in things.
Not sure what you are getting at, but you keep on keepin on. Years, and I mean years ago, I enjoyed listening to Suze Orman. One thing that stuck with me... People Money Things In that order of importance. As Ive gotten wiser over the years, and I mean years, it has morphed... People Faith/Attitude in that order of importance. In the truly pitch black, money and things don't even have a mention.
%% Plan on not losing 80% quickly.It took QQQ 3 years to do that- so would not call that quick. NO i'm not Buffet ,nor would i have to pretend i understand all about tech to invest/trade it. SPY does not lose money as quick as QQQ.By the way plenty got ripped off more than 80% in a corp pension plan. And avoid the lotto= a stupid tax on people that cant do math..LOL,