A Tale of Two Retirement Strategies Wall Street vs. Main Street
Apr 26, 2018
Strategy 1 – Wall Street
Wall Street investors hope to buy low and sell high to generate a capital gain. They believe investing in a well-diversified portfolio of stocks, bonds, and mutual funds will enable them to retire and live off their nest eggs. Unfortunately, this Strategy is one of the main reasons most people have inadequate funds to ever stop working. Their biggest fear is outliving their money.
According to the Economic Policy Institute, most people approaching retirement have little or no retirement savings.
In addition to gambling on Wall Street, other reasons they have insufficient money is due to the following factors:
- They spend their life working for money vs. building/buying assets;
- They confuse assets with liabilities. “Assets feed you and liabilities eat you”.
- They use debt to buy liabilities vs. using it to buy assets. Money has been free for a decade due to the Federal Reserve Interest...