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Originally Posted by Dan.Linehan  |
Investing makes life like Press Your Luck. But if your investment that you've spent 20 years investing in gets whipped out, it's another long 20 years to get back to where you were before.
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There are whammies in life. You'll get hit with them occasionally. This is why you diversify into hard assets. Restaurants, land, productive farms, salvage yards, etc. Warren Buffet says that railroads are a great investment currently.
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The problem with hard assets is you're again dependent on the prevention of wars, of the economy going well, the avoiding of terrorists major action, etc.
But if you invest in your own ability to contribute, as long as you've got your mind, you can adapt, let war devastate your country while you move elsewhere, not be concerned about drastic changes at age 65 that completely wipes out 40 years of built-up savings.