Losing a significant portion of your investments is something that should be expected as a long-term investor to earn profits, and such losses can range from 20% to 50%. Financial risks are unique to every person and are dependent on their financial, job, and family situations.
Long-term investors should expect to take a major hit and lose a significant percentage of their money while pursuing a 10% return. It's essential to manage your risks when investing in the market.
The financial situation of each individual varies with their different situations and needs. To handle the current economic situation, it is essential to have heeded the financial lessons of the past decade.
The speaker highlights the importance of finding hobbies that do not require spending money during tough economic times, and suggests that this can help people find renewed vigor and love for simpler pleasures. They emphasize the importance of managing expectations and finding ways to live cheaply while still having a good time.