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Savings, Investments, and Insurance, oh my!

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friendofJC:
Mike,

I think we should be wise with our money.  Over the long term, holding cash has been a terrible investment due to inflation robbing the buying power of every dollar.  Having said that, you need enough cash on hand to control your future.  If the family social security benefit alone wouldn't be enough, than maybe life insurance is needed.

You need to invest in something that is a productive asset such as a business.  I recommend the Vanguard Total Stock Market ETF traded under the ticker symbol VTI.  You won't beat or lose to the returns of the overall business market and the expenses are minimal.  Do not invest it all at once.  Rather dollar cost average over the years to avoid buying before a stock market crash.  We will eventually experience another recession and those are the time where great wealth can be made.

Jason

AwesomeSavior:
Hi Mike:

I wonder if any were aware that there was a problem prior to the 2008 financial crisis, which came about because of the housing market bubble that popped? I was not, but there were some in the financial world who were not asleep, and took action. I have learned much in the years since that time. The whole financial system almost melted down right there and then. The only reason that house of cards didn't implode was due to the central bank printing press bailing out banks (and other institutions) that should have been allowed to go bankrupt.

Sadly, I believe we are on the verge of an even greater meltdown in the not so distant future. PM me if you are interested.

Dean

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