Quote from newguy05:
As you get older, one of the biggest risk of going bankrupt is from medical bills. Very smart people including the rich often are so caught up in making money they dont bother reviewing their families' medical coveage to ensure it is sufficient as they get older. Then all it take is 1 uncovered surgery.
To give you some idea, one of my older relatives had a surgery and had to stay in the hospital for 3 weeks. The total cost was about $1.5million (they were charging 25k a night just for a bed at icu), luckily her kids had all the insurance in order so it was all covered.
I know the daily P&L and honing your trading edge is important, but sometime one needs to step back and review the bigger picture.