Comment by keernan

>>Sure, but once you reach the point where you have a lot of money in the market you probably won't enjoy watching 50% of it disappear, even if it means your next auto investment is for a nice bargain price.

I assume I am investing to build wealth. That means my goal is to never spend down my wealth. When I retire, I am withdrawing a maximum 4% a year and expect my portfolio to average >6% per year. When I die I will own the largest number of shares I ever owned in my lifetime (assuming for simplicity sake I own a total stock index fund as my sole investment).

So, my goal remains to celebrate buying low since I never intend to sell shares (how this is managed upon retirement is a slightly more complex subject, probably involving 'buckets' of assets to cover withrawals so a 50% crash doesn't change the overall thinking that the price of shares is irrelevant to stock that will never be sold).

edit: speaking theory when I say "when I retire" because I've already been retired for almost a decade. My portfolio continues to grow (highest ever literally at yesterday's close).