I won't claim to be a financial expert, but just share what I am currently doing. I am selling equities and raising cash as the market rises currently. This is because I expect prices to go a lot lower yet this year and see the rebound in the stock market as a short term phenomenon, as I believe the underlying economy will face challenges for years to come. I could be wrong, but I am old enough that I won't necessarily have enough time to recover my gains by the time I need the money to support me. If I was decades younger, I might have a different approach
People invest in gold because they believe it will hold its value better or even see prices increases in times of economic uncertainty, because they believe it has inherent value. I am neutral on this and don't invest in gold.
It makes me wonder how that squares with Jesus parable of the talents, where each of the servants who invested the money was told "Well done, good and faithful servant" and was rewarded, but the fate of the servant who played it safe and stored the gold in the ground was "And cast ye the unprofitable servant into outer darkness: there shall be weeping and gnashing of teeth."
@PowerofStories so? What’s your point??????????? I’m saying sir that Recelation speaks of men using gold and silver (and that’s all) and then go to the mark.. 666.... if you don’t agree fine. No need to be snotty!
SW-User
@PowerofStories I’m not saying to not invest... don’t be so hateful!
@SecondMarge I would use the cash (I am selling things in my IRA) either to pay living expenses when I retire or, if the market drops like a stone, to reinvest and buy back the stocks or other stocks that I think have more promise for the future, when they go on sale.
Again, I could be wrong about the market drop, in which case I at least have the cash and can decide whet to do next. My decision is also based on my assessment that the stock market was overpriced even before the pandemic hit.
And again, if I was considerably younger with most of my career yet ahead of me, I would proceed differently. I would most like be content to let everything ride, like I did in the 2009 recession.
@SecondMarge As far as the biblical verse, I know it was 2000 years ago. I was just trying to have a discussion about the fact that the Bible speaks to gold in more than one place and the parable I referred to could be read to support active investing rather than storing up gold. I didn't intend to offend anybody, but the answer of the person who I replied to have disappeared, so apparently I offended her with my reply and she has blocked me.
