I have FAITH that it's gonna gradually improve eventually after some ups and downs, but am concerned about the security and dependability of any investment actually.
Am curious about other's opinions out there who've had a LOT of experience w/this over the yrs.
thx
2007-06-06 13:31:02 · 7 answers · asked by deirdrefaith 4 in Business & Finance ➔ Personal Finance
The broad market will continue to grow at 8-10% a year on average forever. Otherwise civilization will collapse, and a suitcase full of $100 bills will be worth less than a sack of potatoes! The overall economy is ALWAYS good, it's only the little bit that each of us is standing in that appears to "go up & down". To illustrate, if you were the world's most unfortunate investor, and had put $1000 in the market the day before the 1987 crash, today you'd have$40-50,000!
If you'd done it the day before the 1929 crash, you'd have literally millions!
2007-06-06 13:52:03 · answer #1 · answered by Anonymous · 1⤊ 1⤋
The economy really isn't that bad. We're in a slow growth period in some sectors, but there aren't any big red flags to indicate any deeper-seated problem.
That said, definitely get an IRA for the tax shelter. Instead of selling houses when you move, rent them out - equity is invaluable and can be borrowed against to finance other ventures. Consider starting your own business on the side, I'm sure you've got talents you can tap. Network to find other people who know more about investing than you and who don't mind a silent partner, or one who's willing to learn. Read books on the subject. The more you know, and the more you take a little bit of risk and aren't afraid of small failures, the better your investments will pay off for you.
Best of luck!
2007-06-06 13:38:58 · answer #2 · answered by Anonymous · 1⤊ 1⤋
Think of things from a different perspective. If the economy gets worse to the extent that NO investment is dependable, what are your options? Putting cash in a jar won't help much either.
2007-06-06 14:31:07 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
I work as an investment advisor for Primerica Financial Services, and Yes, depending on what you are invested in, it will last. You need to make sure that you are fully diversified. Also, as long as you are contributing to your account monthly, REGARDLESS of what the market is doing, you will get to a good point. the trick is LONG TERM investing. What state do you live in? I suggest finding a Primerica Representative, and ask them to do a free finacial needs analysis for you, and it will tell you how much you need in retirement and how to get there.
2007-06-06 14:17:22 · answer #4 · answered by tleer8239 2 · 1⤊ 1⤋
The economy runs in cycles, usually in 8 to 10 year recurrences.
2007-06-06 13:35:05 · answer #5 · answered by Anonymous · 1⤊ 1⤋
I never count on the stock market, which is the growth/retirement fund. I was one of those fools. Remember every 10-15 years the stock market is going to crash, and you will lose it all. How do you think I learned that. Believe me, I was really pissed off!
2007-06-06 13:51:49 · answer #6 · answered by SweetBrunette 5 · 0⤊ 2⤋
Real Estate is always a good way. 14 yrs of experience. Contact me and I'll tell you how.
2007-06-06 14:37:45 · answer #7 · answered by annie2dmax 1 · 0⤊ 0⤋