Crashes Are Features

Here's the uncomfortable truth: crashes are the price of admission for stock market returns. Stocks return ~10% annually over long periods precisely because they're volatile and scary. If they were safe and predictable, returns would match savings accounts.

Since 1928, the S&P 500 has experienced a 10%+ decline about once every 1.5 years, a 20%+ drop about once every 3.5 years, and a 30%+ crash about once per decade. These aren't anomalies — they're the normal rhythm of markets. The investors who build real wealth aren't the ones who avoid crashes. They're the ones who survive them without selling.