My Dumbest Investment

I have four kids, all close in age, and huge expected college expenses. I saw that coming and saved like crazy. I built a diversified, aggressive portfolio. Didn't go on ski trips or fancy vacations, didn't get cars for the kids. But … I also didn't move a single centavo to safer investments when it got close to college time. Oh, I knew you Fools said I needed to do that, but I needed more money to reach my goal. I'd figured I needed about $280,000 to get the kids through an eight-year span, and I'd accumulated about $225,000. But over the last 18 months, I lost close to $135,000. And I need it now. All sad tales need a moral, and I've got two: (1) Bears make money, bulls make money, and pigs get slaughtered. (2) When you're a few years away from needing your money, shift it into safer investments! There you go. That's my big dumb move. I hope someone reads it and learns.

— S.J., online

The Fool Responds: We can't add much more to that. You learned the lessons well.

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