patchdodd writes,<<Can any system promise no down years, no significant losses?>>Of course not and bear in mind that BMW's post related to a ten year period where his mothers' net worth declined by 60%, even though she was (presumably) on public assistance for the entire time. On the other hand I do not doubt that active management and excellence can beat intrcst's necessarily conservative plan. He offers a cookbook plan for retirement, and the nice thing about it is that it is time-tested. It works. </snip>How many studies have they done showing that 75% to 90% of actively-managed mutual funds underperform the S&P500?I'm willing to take the risk of holding a portfolio of individual stocks rather than index funds, but only because my withdrawal rate is 1% to 2% of assets annually. I realize that there is a significant risk I might underperform even though I have have a 25-year history of excellent returns behind me. For more on the risks of holding a concentrated portfolio of individual stocks, see link:http://www.retireearlyhomepage.com/concport.htmlintercst
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