[SSLance]

Hello, my name is "Disillusioned Investor",

I'm part of what I have heard referred to as an investor of the lost decade, only my lost decade lasted 15 years. I started investing in the stock market in 1997, and finally pulled the plug and went to 100% cash in the fall of 2011. I'm 47, my wife is 52, we don't have any kids, are debt free except for our mortgage (12 years left on a 2.9% 15 year fixed note) , and have a decent amount in our IRA and Roth IRA accounts and a nice nest egg in a taxable investment account. We were in mostly conservative asset classes for the early part and the late part of that period and got aggressive with equities during other periods. We gained most of our investment funds from additions, not growth, but we had times where we made a lot of money in the market, and we've had times (at least three) where we've lost our arse in the market. For a while my adviser was trying to build my wife and I a "dividend paying" asset base much like what Greg talks about in this thread. We also had a fairly large chunk in High Yield muni bond funds in late 2008...which while they kept their dividends in check, lost 35-40% of their net asset value.

We didn't bail then...like so many people did. We doubled down and got very aggressive and early 2009 treated us very well. By the end of 2009 we were on the plus side again and went back to the dividend paying plan that was directed by my adviser (A Merrill Lynch guy that I really like and trust).

My problem with that plan was the hunk just wasn't big enough to create the kind of income needed in retirement and the changes made chasing dividends often resulted in asset value losses. I can see the merit in that sort of a plan, I'm just not sure it fits our needs at this time.

Here's the deal, I'm in asset preservation mode. I'm winding down my working career, I don't want to have to go back and make what I have again if I loose it. Between our retirement accounts, real estate holdings, cash value life insurance, and cash in our investment accounts...we are pretty sure we can make do and retire (or slow way down anyway) very soon and spend the next 10-15 years really enjoying ourselves without going crazy. The hardest part will be accessing what's in the retirement accounts before we reach 59.5 years of age...and keeping what is in all of the investment accounts keeping up with inflation.

My partner is in his 70s and we've discussed this many times. I tell him how much I've enjoyed being out of the market and not having to worry about the next big drop. He's the polar opposite...when he's been out of the market for timing purposes, he can't sleep worrying that he's missing the next big bull market.

Being disillusioned like I am, I really have a hard time trusting the market anymore. I firmly believe that the institutional investors build opportunities into the market for themselves...and the rest of us are along for the ride. There have been WAY too many times the market has had a run like crazy for no reason...and just as many times where things have tanked when the fundamentals were there and even though one was doing everything they were supposed to, they lost their arse anyway. I don't like that feeling of no control anymore.

The reason I've been following this thread, and reading Greg's (and others) investment advise...is to try to find some sort of happy medium out there. I like Greg's theory of buying what you know...that makes a LOT of sense, especially since buying on fundamentals has been such a bust over my investing career. Don't get me wrong, I've made a LOT of money in the market...I've just lost a ton of money in the market more times than I feel I should have as well. I guess I'm a recovering investor...the time off has been very healing for me. Maybe I'll get back in some how, some way...maybe I won't.

I have enjoyed reading this thread though...and will continue to do so.

\Disillusioned investor...out...