Portfolios Are Time Specific

My son Danny and I used to argue about picking his clothes up, getting in the shower - cleaning behind his ears, etc. You get the drill! But now things are vastly different. Now we argue about rates of return and stock market indices. We've come a long way. 

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Danny had the privilege of NOT being an investor in 2000 and 2007. Remember? He drinks from the "stocks will return 10% every year over time" hose, while I am more cognizant about what things might look like over the next 10 years or so. He is 21, I am not! I tell him all the time: Portfolios are Time Specific! (3:30)