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Love the Fools... Totally agree with Buy and Hold... And yet, and yet... 70th birthday looms in September... How long
can I hold??? Do I think of my investments strictly in terms of my grandchildren, or do I dare hope that on my 75th I can
skim some small cream for... what??? Diamond earrings??? First Edition Virginia Woolf??? Six weeks in Paris???
Is the Buy and Hold concept one that simply isn't in the cards for a Newish Fool (two years' investing on my own)(was
running ahead 78% for the two years... until today...)(OK, so should be happy to find myself at 41% ahead... or
whatever [refuse to check again].. however, it was such a heady ride)(non-Foolish flight of fantasy there... back to earth)
What are other 70-year-olds doing/going to do now???

Unless you know when you will die you are always a long term investor.

You might want to get up to five years of assets out of the equity market and into fixed income. This pool of money is for expenses and the other things you mentioned. Add to this fund from time to time but not in a down market. This fund is to protect you from having to sell investments in a down market.
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