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...what if I'm wrong and cash out when the market actually continues up (or at least levels), but also with the major tax consequences in cashing out large figures in taxable accounts.

Not really. Long term cap gains are 15%, which is likely below your income tax rate.

I know people stress about taxes, but you're only paying taxes on gains (and income). So you're still ahead because you have gains and/or income. Other than setting aside some cash to cover taxes if I make a large sale, I don't sweat paying taxes. I'm much more concerned if I have a capital loss because that means I lost money.

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