My post regarding my friend who pulled $100,000 out of his investments when the Dow plummeted last week received a lot of comments. Therefore, I felt an update was warranted.
I spoke with my friend yesterday and it turns out that he reinvested the money almost immediately. He might have lost a few bucks, but the bulk of the money is back in the stock market. Obviously, I was really happy that he made that decision. We ended up having a pretty good talk about money. I appologized for butting my head into his business, but he understood that I'm just trying to help and he said he appricated it. I reminded him that having this much invested at his age puts him ahead of the curve and that it's going to be worth a boatload when he needs it for retirement in 20-30 years.
Thanks to everyone that commented on the original post. As always, I appreciate the input and feedback.