What if retirement advice is completely backwards?
Financial advisers for decades have urged people to load up on equities early in their careers and gradually reduce those holdings by the time they leave the workforce. Sounds logical. When you’re in your 20s, you have plenty of time to bounce back from stock market losses while a big equity allocation gives you the growth you’ll need to build retirement wealth. But as you approach retirement, time is not on your side, and it’s much harder to recover from devastating bear markets of the kind we experienced in 2008-2009.
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