It's been a hard lesson for some, and a good lesson for most people.
More Quotes from Scott Kahan:
People look at technology like it's a shining star, but it's no different than any other sector. A few good years can really pull up the averages. But a few bad years can really pull down the averages.Scott Kahan
If he saves 2,500 between his 401(k) and outside savings, which he plans to do, this will grow to 526,450 at 8 percent over the next 11 years. The IRA rollover would add an additional 385,000 by age 57, bringing his investments, not including real estate, to over 900,000.
Scott Kahan
People shouldn't chase returns. The average investor looks back at returns and buys based on performance. But people have to look at the worst-performing sectors, not the best-performing ones. That's where the smart investor goes.
Scott Kahan
Young people are always afraid to commit money long-term.
Scott Kahan
In sector plays, you should buy after a down period, when the numbers look terrible. But when you look at a fund, if similar funds have done well and one fund has done poorly, you don't use that logic.
Scott Kahan
Even though he is not eligible for the 401K, he can allocate this money into his non-qualified investments and then stop those savings when he starts his 401K.
Scott Kahan
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Based on Topics: People QuotesIt was during my time at secondary school that I abandoned religion.
Paul Nurse
War is one of the scourges with which it has pleased God to afflict men.
Cardinal Richelieu
I'm treading the backward path. Mostly, I just waste my time.
Syd Barrett