There are certainly some worthy observations here on the crucial importance of building a financial plan with an eye toward expecting the unexpected. As far as I’m concerned, however, merely creating such a “plan” and then blindly sticking to it (as Mr. Richards suggests here) has been the death knell of far too many portfolios. True “long-term investing” demands constant situational awareness, solid advice and – most importantly – the ability to adapt your plan – not just adhere to it.

“Market Milestones Can Lead to False Assumptions,” Carl Richards, The New York Times, 3/11/2013

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