Gaining perspective on how lucky we are to have each other in this group

Overheard a conversation in the office on Friday morning a couple of cubicles up. A coworker, probably in her late 40’s, asking another coworker about the same age, how to transfer all her stock to bonds on the 401k website. The second coworker then describes click by click how to do it, while also getting rather angry at her (as a friend) for not doing it earlier as she had done.

“YOU HAVE TO GET OUT OF STOCKS NOW” she almost yelled.

I couldn’t believe what I was hearing. The market at that point was down around 20%? And here this person was about to eliminate a substantial amount of what could potentially be her life’s savings. And her friend presumably had already done the same.

The more I thought about it, the more depressing it got. I realized they could have possibly done the same thing a number of times in the past. Each time they could have exited the downturn with much less than they’d started with. If they were still in stocks at this point, they must buy back into stocks at some point after the carnage. And all this essentially represents how they understand the markets, and how they believe one should invest. And it made me realize how scared someone like that must be about their investments and retirement, to think that at any time, the markets could tank and you simply just loose years of savings because of it, nothing you can do about it.

Anyways, for a bit I attributed this to them simply not being that bright. But I began to think, what if I didn’t have groups like these? What if I didn’t have smarter people crunching the numbers, running the projections, doing unbiased research (hopefully lol), that I so easily get to benefit from? What if the only access I had to financial advise was through some shady financial advisor company or some relative? I could have been like them.

Anyways, just thought I’d share. One of those moments that just blow you away and make you incredibly grateful at the same time

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