I am starting to see signs of the rosy picture painted by those who give financial advice change. A few years ago the typical story was ‘invest money in the stock market if you don’t need it for 5-7 years’. Sound familiar? Now, more and more, I hear them saying things like ‘if you have a time horizon of a few decades’ etc.
The undeniable market history, coupled with the severity of the current bear market, is forcing the financial advisors closer and closer to seeing how the market really works. I expect a lot of them are reviewing and rethinking what they were taught in financial advisor seminars etc. I also expect that the majority of them are also taking a big hit on their personal finances.
It will be interesting to see what their literature says a few years from now.