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Author: RVGolding Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19483  
Subject: Re: 5 Year Date: 4/15/2000 9:53 PM
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I have been retired since 1978, and I will be 83 in a couple of months. I have ALL of our money in stocks and right now wish I didn't because I would love to sock 10K into some of the beauties that have been hit so hard.
There's two reasons why all of our money is tied up--one of which is that at our age (my wife turns 80 this year) we have our mortgage paid off, and the other is, no matter how low the market goes I'll expect to sell at a profit. Perhaps my profit wouldn't be as big as I'd have made if I sold two weeks ago, but this buy and hold makes it not hurt so much when I look back and see what I paid for it 8 or 10 years ago.
A few years ago we took trips, Alaska, Australia & New Zealand, Canadian Rockies, and Hawaii. Each time I sold enough stock to do it up well, and I don't regret it, but if I hadn't cashed in that 50K, our portfolio would be worth about $200,000 more. That's the power of compounding!
RVG
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