[SolaceQuantum]

How does the reasoning of buying stocks and bonds work over time given the current crisis has wiped out all the gains for many people made in the past several years utilizing this strategy, and before that was 2008 which did the same?

[esotericn]

You don't need to make gains. You need to spend significantly less than you earn. If you can work for 4 months and survive for 12 then you're there.

Compound returns are a nice bonus if they come, but not necessary. Sensible frugality is the important part.

[SolaceQuantum]

This doesn't work for people who want to have children, who may have healthcare conditions, who need to take care of their parents, etc. Spending significantly less than you earn won't mean much if inflation means anything you earn is worth less year over year.

[tomrod]

Tends to work well, outside black swan events.

[SolaceQuantum]

Yes, if black swan events happen every 10 or so years, and the black swan events wipe away all the gains of before... is that really helpful advice?