80% of gains come in 20% of time. So an investor needs enormous patience and conviction to hold mutual funds or shares for 8 to 10 years.
Why not all investors get rich? They like to get rich without going through many years of discipline & patience. Process leads to outcome.
You cannot predict or control markets. What you can control is how much you save, investment process and behavior. Focus only on that.
Buying and selling mutual funds and shares frequently are easy. It is holding on through ups and downs is difficult but ultimately most rewarding.
Not investing in equity is more risky than investing in it. Remember, you need to beat the inflation and retain your purchasing power.