Can't remember the amount of times I've been told that I am a fool for being in the stock market. Get out now! they say. Convert to gold, they crow. Better off stuffing it in a mattress, they bray.
Otherwise you will get your "comeuppance" they lecture.
What they don't realize is that even if the market drops 90% in value, I will still be better off than had I put all my extra money into a savings account that only yields around 2% interest a year.
The stock market is a vehicle that transfers the wealth from the impatient to the patient.
RE: “ I will still be better off than...”
Congratulations -
Truly, you are pragmatically worldly smart.
You sit pretty in today’s stratospheric stock market levels that correlate to the 1929 run up, which serve “investor / gambler” self interests well, in the historical short term.
However, for your grandchildren and our nation’s future, not so much...
The reason why the stock markets and Real Estate has soared to unsustainably high levels correlates to shift to a debt based economy / US dollar fiat currency, ie: 1988 US debt was $1 Trillion, 30 years later it’s $22 Trillion, 8 years of unheard of QE1-2-3 money printing, ZIRP & NIRP, and a US (Petro) dollar that is blessed to be the world’s reserve currency up til now.
From long term perspective, mathmatic and demographic reality assures we are economically screwed and will pay dearly for our debt based fiat currency and non-saving society.
Just because you can, doesn’t mean you should...
Well, I have never been an advocate of converting to gold (not yet, at least) but I AM an advocate of having an investment in gold, whatever you can manage, but...something.
One can never be too sure.
Die, you lying sons a b!tches. Die.
Die, you lying sons a b!tches. Die.