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In reply to the discussion: Dow sinks 700 points as Delta variant fears hit Wall Street hard [View all]PoindexterOglethorpe
(25,816 posts)Nor is it a Ponzi scheme as people here love to claim. If you invest in good stocks or mutual funds, and stay invested, over time you do incredibly well. Over time, on average, it gains around 10 percent each year. And on average, stocks rise two out of every three years.
Of course, if you watch it go up and up, then finally decide to buy, and there's a drop and you sell, you will lose money. Trying to time the market is a total fool's game.
And yes, older people absolutely still belong in the market, because bonds are paying almost nothing these days, and we old people still need that growth. Perhaps you want to have a smaller percentage of your money in stocks, but you should still have some. There's lots of advice out there about what kind of distribution between stocks, bonds, and other things you should consider.
And to keep today's Dow in perspective, since the beginning of the year it's up nearly 4,000 points. 7,000 points from a year ago.