Reply to Late 40s people: Where are you putting new 401k contributions these days?

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Reply to "Late 40s people: Where are you putting new 401k contributions these days?"

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[quote=Anonymous][quote=Anonymous]Since not planning to retire for at least another 20 years, I am doing what I have always done. Max out both 401k and IRA and both in S&P funds and not think about it. It's what Warren Buffet advised many years ago and it's done very well for me. Much better than I could have ever expected. Not worried about temporary dips freaking people out and the doom and gloom wishcasting that is typical of DCUM. [/quote]

It’s actually funny because the doom and gloom is *not* typical of DCUM. In fact, more typical of DCUM is an irrational exuberance about stocks:  until just a couple of months ago, people were always posting here about how easy it is to make money in tech stocks and that beating the S&P 500 was, in fact, easy.

And, of course, now you have the other extreme with the nonsense about staying in cash for the next four years, lol. It just goes to show that even supposedly educated people make serious investing mistakes, both on the upside and the downside, and that dollar-cost averaging into the S&P 500 really is the best strategy for almost every human being alive.[/quote]

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