Do people listen to Planet Money or The Indicator From Planet Money? It is one of my favorite podcasts related to money and sometimes I wish I could discuss episodes with people.
I just listened to Thursday’s episode and it sounds like they’re going to do a series on personal finance, so today they talked about market timing.
Most of it was stuff I’d heard and knew already, but there was an interesting point made that I hadn’t considered before. Conventional wisdom is your portfolio should be more conservative closer to retirement so you don’t lose a large amount close to retiring. But really, you don’t need all of your money right when you retire and retirement can last up to 20 years and beyond, so there is still plenty of time for losses to be recovered.
Also, I lol’ed at the story about the woman trader with blood on her jacket in the 80’s!