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There was great distrust of the stock market when I bought my first share of stock in 1981 as a 25 year old engineer.

By age 30[1981], I was socking a significant portion of my earnings into retirement accounts. I realized that conspicuous consumption & living "La Vida Loca" weren't the path to happiness. My first purchase - The Magellan Fund. I did real well until Lynch left. I held on 2 years past his leaving. When Vinik did approx what the S&P 500 was doing I did some research & discovered index funds!

I don't recall much distrust of the market but of the gov't management of the economy. Paul Volcker restore confidence.

The Y Generation has had to endure the RE bubble with no doc loans & TBTF banks bundled mortgage fraud.

While that experience has shaken me also. I knew not to sell. And I know that I need stocks to weather my retirement years. Especially as QE had driven interest rates down. So I maintain 65% stocks[50%US{16%Sm cap},15%foreign] The rest split between cash & VFSTX[sh term inv grade bond]
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