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As of yesterday, Sept 7, you could almost hear the deafening cheers from Wall Street investors as the Dow Jones Industrial Average was approaching 26,000. But, is the nine year Bull market on it’s last leg? Fifty-eight percent of global money managers surveyed by Bank of America Merrill Lynch think the stock market has already peaked or will later this year. So, be wise and don’t put all your eggs in the same basket and granny would say.
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Look back at March 30, 1999. This was the day that the Wall Street Journal heralded the dawn of a new era as the Dow blew past 10,000 for the first time in history with its “Dow Industrials Top 10,000.” The record high occurred on March 29, 1999. It lasted for all of eight and a half months.
By January 14, 2000, the Dow and other market indices had reached their peak. From this point on, a bloodbath ensued over the next two years. An eye watering $5 trillion of wealth became erased from the ledgers of investors the world over. I’m not a wealthy man, but I remember watching my retirement account start to plummet…and it was scary.
As a local member of the Board of Education, I remember the HORRIBLE day, after staff looked at every single cut imaginable, we closed an entire school, and it came to the inevitable. We did NOT have the funds to pay all of the teachers. In one day, our hearts were ripped out as we sent over 125 good teachers home without a job. I will NEVER forget that sadness.
Well, after a few years the retire account looks better. However, the new lofty levels of the Dow that came still need doesn’t protect us from all things global. Now we’ve had the cornona virus come and give the Dow a shake. But seem like they are making a recovery.
It would be naive to believe that U.S. stocks will simply continue to rise forever. History tells us what happens when investors start to believe that. A better choice is to invest in markets where there is opportunity remaining. Many overseas markets are now far more attractively priced.
I am not a financial expert and will not intend to be. However, I do know that MANY people wish they had invested a portion of their retirement fund in precious metals like Gold prior to the 2008 crash.
Is Your Retirement Portfolio Ready if there is the Inevitable American Stock Market Crash?
Stocks never rise in a straight line. History has proven time and again when they irrationally get ahead of themselves, they come crashing back down. This was the case in 1987, 2000, and 2008. We are long overdue for a severe pullback, especially given the new all-time highs which are based on only speculation and hope.
When the markets do inevitably fall back down, gold will once again prove to be the smartest asset class in which to have moved at least some of your retirement assets.
Full disclosure: I have had been associated as an affiliate with “Regal Assets” as far back as 2014 and they have one of America’s top-rated alternative assets companies, with endorsements from the likes of Laura Ingraham, Dennis Miller and Lars Larsson. In 2018, Regal has officially announced the launch of its new investment vehicle: the Regal IRA™.
See “Protecting Your Retirement With Alternative Assets”
Brian Sloan