I’ve posted Entry #67 to my weekly Investing: The New Rules column at the Death by 1,000 Papercuts site. It’s called Buy-and-Hold Spending Is Like Entitlement Spending.
Juicy Excerpt: I have a friend who has attacked me mercilessly on discussion boards for my having brought up the idea of sharing with middle-class investors what we have learned from the last 30 years of academic research. I asked him once how much he lost in the crash. He responded: “Well in excess of $1 million.” But it’s Rob Bennett at whom he is angry! The Buy-and-Hold advocates remain his best friends! Funny Money enslaves people by making them feel dependent on unearned funds.