Yeah, few people realize what it means to sit on a paper loss for 14 years. Not many have the mental fortitude to do that. But it's really hard to convince the millennials and younger who experienced nothing other than a roaring bull market throughout their investing lifetimes.
> the millennials and younger who experienced nothing other than a roaring bull market throughout their investing lifetimes
Poking at certain generations tends to be counter productive, but this jab is also disconnected from reality.
Millennials entered adulthood in the shadow of the mortgage crisis, which by all measures was a depression event until the definition of a depression was reworked.
There were only two significant crashes between 1929 and 2008. 1987 (black monday) and the tech bubble (2000).
More recently, covid was a ~40% decline in the S&P (bigger than black monday), and another ~30% started at the beginning of 2022.
It shouldn't be worn as a badge of honor, but millennials and younger have experienced more volatility in a much shorter amount of time than older generations.
> few people realize what it means to sit on a paper loss for 14 years. Not many have the mental fortitude to do that.
Partly why real estate is such a big part of most people's net worths (and covered by the OP): it's not marked to market frequently, so it's much easier to hold for decades at a time. If everyone had a ticker they looked at every day where the value of their house was updated real-time, there would be a lot more panic selling.
