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As the author says, most of these alternatives are risky--some extremely so. Even bonds and CDs are losers when they pay less than inflation, as they do now. (Most annuities are based on bonds, so the same applies there.) If you're young, the best advice here is to "invest in yourself" and further your education, focusing on practical and useful training (like the CFP mentioned).
And just how should you do that? They're all like that to at least some degree.
"If you're young, the best advice here is to "invest in yourself" and further your education, focusing on practical and useful training (like the CFP mentioned)."
If you are young, realize that there are a surplus of paper and button pushers and a shortfall in every craft. The DUMBEST thing you could waste your tuition on is a "financial" job. There are two areas of pariahs we know for sure will be majorly reformed beginning as soon as THIS year-- financiers and lawyers. Better a Plumber in the approaching economy, than the person who needs one.
I worked hard to retire (off my income alone) and get what I have. Allowing MY money to go into the coffer of another entity with a possibilty of making more but risking losing some or all is not what I consider the smart thing to do !
Sweat and hard work makes one appreciate his lifestyle more than paying to get more !
The Stock Market has risen dramatically because of only 1 thing - THE DESTRUCTION OF OUR DOLLAR BY THE FED. THE FED IS A CARTEL OF PRIVATE BANKERS WHO ENRICH THEMSELVES AND THEIR WALL STREET CRONIES, AND WHOSE CORRUPT POLICIES PROLONG DEPRESSIONS - LIKE NOW!!!!!
WHEN WE GET A REAL PRESIDENT, I SUPPORT THE TOTAL ABOLITION OF THE FEDERAL RESERVE. WE WERE CONNED INTO THE FED BY PROGRESSIVES LED BY WOODROW WILSON IN 1913 - THE WORST PRESIDENT EVER BEFORE OBAMA!
I also was completely out of the stock market until 2009 and started buying stocks - this has paid off. My advice to readers is to sell all of your stocks because the market has come a long way and it is now way too high. Once stocks or real estate get "hammered" then plunge in and buy. I am going to hold my houses for a long time because they are producing a great income stream. If the market dips again in real estate I would welcome this so I can buy more. Best success to all!!
Yes, maybe, start a business. But avoid borrowing money to start a business. That's a fool's approach on the entrepreneurial path.
Here's the best idea for some Americans. Get into gardening in a bigger and bigger way every spring. Food inflation is gnawing a hole in most everyone's budget. What excess you grow, either sell or giver away to friends, with a quid pro quo, exchanging the favor getting your getting your driveway shoveled come winter, your leaves raked come fall, or something else...
The truth is Obama's $10.10 minimum wage proposal is going to cause food-fuel inflation far in excess of the increase in what it costs to hire a minimum wage earner today. If the government really wanted full employment, it would campaign to eliminate the minimum wage laws.
Face it, and look around you to size up the situation, how many people looking for a job are really worth $10.10 an hour? Not many. All $10.10 an hour would do, would be to make minimum wage earners out of a lot of hard working people who make $8, $9, and $10 an hour today, and who worked hard to deserve the wage they get.
They're GREAT investments for the banks, of course. They get your money for a set period of time, pay YOU 1%, and then turn around and lend that money out at 4 to 20% [the 20 % is credit cards] interest. They're making TRIPLE [at least what they're paying YOU], so of course they're pushing cd's.
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