by Tdarcos » Wed Aug 28, 2024 12:47 am
Ice Cream Jonsey wrote: Tue Aug 27, 2024 9:10 am
I am going to stop buying $50 a month when I get a car payment next.... but man, it was nice to get two-plus shares for the same standing order.
They have to recover, right? Right? RIGHT?
Ask the Enron employees whose 401K was all invested in their employer's stock.
Ask those who bought stock in Radio Shack,
Ask those who bought houses in Texas in 75-79 before the S&L crisis. "After all, real estate prices only go up, right?
Ask those who bought houses in 2007 before the banking crisis.
Ask those who bought houses in 2019 or 2021 and discover they need to sell because their current house is now unaffordable and have to move someplace cheaper, and find they have to sell, not at a profit, but often at a loss as the sale price is less now than when they bought it, and they would have to bring money to the table to repay the mortgage balance.
Nothing goes up forever, any investment can lose value. And sometimes a thing can go from valueless to valuable. Do you think anyone expected real estate in what was South Vietnam when it fell to be worth anything about 55 years later?
If you want the closest thing to a guarantee, buy gold. Specifically one ounce coins like the Double Eagle, which can be used for 401K. One ounce coins don't have enough extra space to try counterfeiting them, which was done in the 1800s to bullion bars by using a valueless metal inside, then giving it a coat of gold. The most common "valueless" metal was platinum.
[quote="Ice Cream Jonsey" post_id=144537 time=1724775026 user_id=3]
I am going to stop buying $50 a month when I get a car payment next.... but man, it was nice to get two-plus shares for the same standing order.
They have to recover, right? Right? RIGHT?
[/quote]
Ask the Enron employees whose 401K was all invested in their employer's stock.
Ask those who bought stock in Radio Shack,
Ask those who bought houses in Texas in 75-79 before the S&L crisis. "After all, real estate prices only go up, right?
Ask those who bought houses in 2007 before the banking crisis.
Ask those who bought houses in 2019 or 2021 and discover they need to sell because their current house is now unaffordable and have to move someplace cheaper, and find they have to sell, not at a profit, but often at a loss as the sale price is less now than when they bought it, and they would have to bring money to the table to repay the mortgage balance.
Nothing goes up forever, any investment can lose value. And sometimes a thing can go from valueless to valuable. Do you think anyone expected real estate in what was South Vietnam when it fell to be worth anything about 55 years later?
If you want the closest thing to a guarantee, buy gold. Specifically one ounce coins like the Double Eagle, which can be used for 401K. One ounce coins don't have enough extra space to try counterfeiting them, which was done in the 1800s to bullion bars by using a valueless metal inside, then giving it a coat of gold. The most common "valueless" metal was platinum.