|
Mid Michigan | I wonder how many people who investested in Bernie Madoffs ponzi scheme wish they had the cash back they sent to him? Mutual funds can seem like ponzi schemes sometimes when you get your quarterly statement in the mail. I guess I'm trying to say it can sometimes be better to keep your money in a cd at the credit union plugging along at 1.25% than to lose half of it in a shaky stock market investment. Everyone has their own level of risk and some people feel content going to a casino and rolling the dice. These people are in their 50's. It's not easy to get back lost stock market money at that age. I guess if I have a dollar and a jar of pickles goes up to 2 dollars I will have to buy a half a jar of pickles or go to Sams Club and buy a giant jar of pickles for 50 cents! I understand the inflation thing. I'm just saying a lot of the easy money has been made and it's much more difficult to get in a good safe investment that pays anything. My boss used to say all the low hanging fruit has been picked and now we're going to have to work a lot harder for anything good. | |
|
Financial Advice
