Valuation is so crucial to long term investment success but so poorly understood. 100 years of data on US equities shows the record. The current CAPE value is 25. What are your expectations?
https://mebfaber.com/2014/04/15/a-spectrum-of-possibilities-probabilities/

Broken Money, Broken Markets
Today’s new highs are increasingly mechanical, not fundamental — and in a broken market, your 401(k) is the exit liquidity.

