I am a growth stock investor, many years of lessons/failure. Two phenomenal life changing large investments, the most recent of which I’ve sold most of. we have more money than we ever dreamed of and have enough recurring monthly “income” that we never need spend what is at our broker except for rmds. the past few days I’ve felt as if the psychological impact of losing investments would really really hurt. I’ve been a bit wishy washy undisciplined and overly emotional. im thinking to just leave things in some broad based market etf and stop trying to identify leading growth stocks. does anyone else consider some financial level as not needing to take excess risk and just go live life? is there some financial level that you would leave the game? Age range 55-60 might have something to do with it. I had some early market success pre 2007 and gave it all back I had a large investment fail a drug trial wipe out 75% of worth in minutes.
I think it’s important to realise that it’s just a 'money game' that we all play. Some people become so focused on accumulating more and more money at the expense of quality of life. I used to be like that, spending 16 hours each day in front of the computer. Having a passive income that is greater than your expenses is the key to financial freedom. (The passive income can be from dividends, rental properties, etc.)
I have spent nearly half a century "playing the game", in beginning what I thought was important, in end it wasn't even close, most important is risk. Risk is good starting point to able control much of the time. Taken good amount of years to get my trading in happy zone. All is automated, drawdowns are very acceptable, all that is fading are memories. I will never stop, game has become fairly easy, have answers before the question. Only difference now, I no longer get new ideas to test.
At 62 I can assure your thoughts are absolutely normal. It's like suddenly realizing that your job has lost all its appeal, a sure sign that you are ready to retire. I started trading after retiring early, fluke of circumstances that led to greater wealth than I ever imagined (I have low imagination). But it's not until I gave back much of it in subsequent years that I realized my luck. When trading/investing goes your way it seems ridiculous to cash in and walk away. The consumer economy is built to meet demand at all income levels. What seemed out of reach yesterday may be within means today and suddenly we look up to the next want... Neverending cycle. But when trading/investing take a downturn, it's much, much harder emotionally to lower expectations and live within your means. I learned this in my early 20's and made it a life lesson to never link my worth to my worth. I was well on my road to financial recovery when Trump went Musk and the market responded accordingly. Recovery just took a few steps back and it's ok. I just won't let this happen again when things return "to normal".
whats rmds? The number one thing rich people want when they talk to Private Bankers is that they want to stay rich. Despite the fact they have the ability (ie excess capital) to take extraordinary risk, they start to focus on all weather investments that don't lose money. It's natural and its fine. Time is more valuable than money. Happiness is more valuable than time. The lack of stress is more valuable than Happiness.
As an ordinary working people we saved in 401k, now rolled over into Ira. At age 72 the gubmit requires distributions from this based upon actuarial tables. This amount is called a required minimum distribution rmd yeah, we want to stay rich
Yeah, mine is not automated and high flying stocks can suffer hard, especially when pressing the pedal.
The Trump catastrophe will dissipate within 4 years and the market will recover, either during or certainly after. Unless you have another citizenship, it's difficult and costly to escape Uncle Sam, unless Trump goes full tax relief on IRAs and 401k, in which case we'll see the greatest movement of wealth transfer away from our desperate coffers. Ideally you are liquid and able to rejoin the gambling den after it hits bottom a couple of years from now. That last shot to the moon circa 2019/20 will repeat well before we're too old to care, at which point I will turn off the faucet and enjoy my remaining years. Who knows, I may start smoking again!... Just joking.