this post was submitted on 25 Oct 2023
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Thoughts? I have to admit I've been nervous about this for a while now, with "once in a generation" events happening on a seemingly yearly basis, I started saving for retirement in 2019 and it seems like things have essentially traded sideways since then - my accounts are barely worth more than the money I've put in to them. The article is quite gloomy.
I couldn't get past the pay wall to read the article buy I don't put much stock in people trying to forecast the future. They have no clue what the future brings.
With that said, I don't think were seeing any more turmoil than at other points in history. If you look back at history there have been major disruptions about every decade (give or take) with more minor static in between. Covid, financial crisis, 911, gulf wars, oil embargo, Vietnam war, Korean war...etc.
People that thrive over time have their investments diversified and adjust as circumstances dictate. Setting and forgetting may not yield optimal returns but you'd probably do just fine long term. The key phrase is long term. I'm talking 40-50 years not just a few years.
You forgot the looming Cold War, and we're seeing similar stuff today with China, Russia, etc.
Indeed I did. Just further proof that this shit has always happened and will continue to do so. All we can do is live below our means, DCA througjout our careers, and keep improving our skills to stay marketable.
Yup, PFA concepts are simple and don't make exciting headlines. Implementing them is the real challenge, which is probably why people grasp at these articles to find some shortcut.