Posted by MarkB_MI on March 24, 2018 at 05:34:38 from (174.230.29.192):
In Reply to: Re: Stock market posted by Lanse on March 23, 2018 at 20:06:49:
Lanse, you are at an age now where your investment decisions will have an enormous impact on your life down the road. Don't be one of those who said "I'll save for retirement later", only to come up short when they're too old to work.
First off, there is NO investment that, over the long term, has proven to beat the stock market. The average rate of return over the past century is about ten percent annually. Yes, there have been investments that beat that in the short term, but the safest, most reliable long term investment is still the stock market.
Second, the "right" time to invest is always "now". And that's particularly true for someone in their twenties. A simple example: Suppose you decide to put 10K per year into an IRA. You do this for the next ten years, then quit. Meanwhile, a friend of yours decides not to put anything into an IRA. Ten years later, after you quit adding money to your IRA, your friend decides to invest 10K per year in an IRA. Do you know that no matter how long he contributes to his IRA, he will never catch up to you?
Third, you speak of "tangible" investments. I assume you mean physical assets such as land, houses, and vehicles. Keep in mind that "tangible" also means "illiquid". If you need money in a pinch, you'll find it difficult to raise it by selling physical assets. Chances are you'll take a beating. Cash is always liquid! And even money locked up in an IRA or 401k can be withdrawn after paying a penalty. Or you can borrow against it.
Lastly, avoid buying stuff that doesn't make you money. A good example is undeveloped real estate. Sure, you can hold on to it for twenty years and sell it at a profit, but in the mean time you're paying taxes on the property and losing out on the return your money would have earned in an interest-bearing investment.
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