Rising interest

Rising interest rates

Commitment is a form of risk. Sure, stocks are volatile and may seem untrustworthy, but at least you aren't wedded to them for the next decade.

What makes Treasurys such stock investments is the guaranteed return of your principal at maturity.

investments is the guaranteed return of your principal at maturity. But you have to wait 10 years for that to happen, and a lot can change in that time, like interest rates.

While volatility means investments have big gains at times, the losses may be more significant, says Bradley R. Newman, director of financial planning at Roof Advisory Group in Harrisburg, Pennsylvania.

Successful investing is less about capturing 100 percent of the market upside and more about missing the potholes," Newman says, arguing that strategies like diversification pay off in the long run because they dampen losses in downturns, even if they also trim the gains when assets spike.

The investor preparing for retirement decades away can wait out brief periods of higher volatility.

This can be brutal for investors just entering retirement or facing an immediate expense like college tuition

The financial crisis that began 10 years ago demonstrated how damaging volatility can be for people with immediate financial needs.

 with immediate financial needs, leaving many with portfolios too small to last for a long retirement.