Risk and Stock Price Volatility: Many are still confuse???
As long-term retail investors, our risks come from permanent loss of our investing capital or loss of holding power causing us to realise our paper losses into permanent losses.
Stock price volatility itself is NOT a direct risk to our investing capital; but it will seriously affect the performance of our investment portfolio total returns. (e.g. CAGR or XIRR)
Read? Permanent Loss of Capital
Read? When a Giant Gain Causes Pain (3)
The Moral of Story
Don't ever come to the stock market and calling yourself "long-term" investors when you actually need to draw-down your money sometime over the next few year to fund certain expenses e.g. housing, wedding or children university tuition fees, etc ......