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If only we had diversified our IRA's and 401k's! |
Nov. 19, 2008
I have to say I feel very sorry for the folks who are 55 to 60 plus and have seen their life savings blow up over the last 60 days. This has affected people in my own family. Now I must tell you that I am a commercial real estate broker making my living advising high net worth individuals on conservative real estate investments. That being said, I think in the last 10 years, the securities and financial advisers have done the public a big disservice by having people not diversify themselves with their investments. What I mean by this is not just putting stocks and bonds in your IRA, but diversifying by putting currencies, precious metals, and especially real estate in their IRA accounts. Find a great investment advisor who specializes in precious metals; find a great investment advisor who specializes in currencies, and the same for real estate. They are out their believe me. Ethical people in their respective fields. If a person had diversified themselves and put 25% of their overall monthly savings in the above investment vehicles guess what? There would have not been the kind of pain and useless suffering that many people have experienced. It might be a little too late for the 60 and 70 something’s, but if you are 50 or under the time now is to change your thinking. Just my opinion. P.S. I have also spent the last 10 years trading stocks,futures,options, and currencies with a very small degree of success. The best is real estate. It is a very hard investment to mess up (unless you bought in 06' 07') :)
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