Jason Zweig
speaker
906 appearances
17 recordings
1 series
first heard Jan 2018
last heard Sep 2022
Jason Zweig’s voice in public audio — every appearance, attributed to the second.
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That should be less a function of what the market does than your investment horizons, what phase you're at in your lifelong career as an investor.
What I think is very important for younger investors to realize is that the habit people have formed in recent years of buying the dip, you know, jumping in and buying
a few more stocks whenever the market goes down.
That has worked wonderfully during a period when interest rates have been very low.
It might not work so well in the short to medium term future.
However, I think if you patiently accumulate stocks over the period we're facing now,
Eventually, down the road, when you're no longer young, you'll be very glad you did.
Whether that will pay off in a year or two or in a decade or two is hard to say, but I do think eventually it will pay off.
So retirees and near retirees are in almost the opposite situation because young people are accumulating assets in the stock market and people in or near retirement are decumulating.
They need their investment portfolio to provide some of the income that will sustain them during retirement.
So a bear market can be especially painful to someone with that investment horizon.
And there isn't much you can do with your portfolio itself that will mitigate that for you.
You really have to address your own behaviors.
And it's going to involve some sacrifice and some deferred gratification.
Some of the ways you might sacrifice a little or defer some gratification that aren't too painful, I think the first would be you just take a part-time job.
That way, you don't have to draw down as much from your investment portfolio when the bear market has taken a big bite out of it because it can be very hard to recover from that down the road.
Well, so automatic investing, or as many people like to call it, dollar cost averaging, is simply a way of putting your portfolio on autopilot every month, every calendar quarter, once a year, at a frequency that you can choose.
you would automatically, through a deduction from your bank account, invest the same amount of money in maybe an index fund or an ETF or your brokerage account, and you're gradually putting that money to work.
When you do that into a down market, it's not that you're raising your rate of return.
It's that you're enforcing disciplined behavior on yourself and you're making it harder to reverse course.
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