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Comment by djkivi | Hacker News Reader

Fidelity: Successful investors forget they have an account:

https://www.bogleheads.org/forum/viewtopic.php?t=146347

Until it gets liquidated and the cash put into state lost money accounts because of escheatment rules. You should still login once a quarter or so.

https://www.investopedia.com/ask/answers/110415/what-are-dor...

> The dormancy period for IRAs cannot begin until the account owner reaches the age at which one must begin taking required minimum distributions. As of 2023, the required minimum distribution age is 73.

So not until you retire.

Your link has John O'Shaughnessy being interviewed by Barry Ritholtz (two respected folks in finance), and O'Shaughnessy later corrected himself:

* https://twitter.com/jposhaughnessy/status/115517108366392524...

While I do believe set-and-forget passive investing is best for the vast majority of people, last time I checked that Fidelity study does not actually exist, and the story is apocryphal (no one seems to be able to actually link to it).

If you ask Fidelity about it, they'll tell you it does not exist:

* https://www.morningstar.com/columns/rekenthaler-report/archi...

Thank you.

There are too many of these apocryphal stories out there of various kinds. Sorry that this one appears to be too.

That's pretty much how I did it.

I didn't actually forget, of course, but I didn't get around to looking at the numbers every year. And when I did, I hardly ever changed anything.

Of course, buying Apple in 1997 was also an important factor.

> Of course, buying Apple in 1997 was also an important factor.

Had the fare, boarded the right train at the right time.

In crypto, successful investors get their funds stolen and then later recovered (MtGox, Gemini Earn)

Or go to jail and only get to sell on their release

Mine were just stolen by the government and not given back. Btc-e.

I’m not bitter or anything.

Heh i had this with bittrex

Those are the lucky ones that get paid back in kind in the crypto currency they had. Some like the FTX folks are unfortunately paid in the dollar value of their account at the time.

Bitcoin was like 15-20k at the time of the FTX collapse and is now 60k again like the highs in 2021.

Funny. Just today I receive main from Fidelity to review my account. The only thing I wish to but can't afford to change is retirement age to an earlier date.

I've been harboring a suspicion for several years that I've forgotten an account or two. Maybe I'm one of the fidelity investors.

Subscription fatigue.

I sometimes worry if I have a forgotten paid subscription on an e-mail of mine I don't check, that slowly drains a bank account I forgot I have. There's just Too Many Accounts, and Too Many Subscriptions.

That's the thing with subscriptions. The default is just to let them continue to leak. I've periodically discovered subscriptions that presumably resulted from me not explicitly not checking a box somewhere,

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