How many times have we heard your father's voice in your subconscious say the old saying:
CASH is KING??
I have a very substantial Brokerage Account where my IRA money resides and my Investment Banker, just like the Federal Reserve and Treasury are trying their hardest to convince me that its time to dump my money into Equities to "bet" on higher returns. They have insulted me by posting my portfolio in comparison to a person my age to graphily illustrate what an "ass" I'm by stipulating that I should have at least 55% of my money in Stocks!
At age 63 I'm a complete coward after loosing $100,000 hard from my company's 401k in 2008. I now have 95% of my money in low yielding CASH. My average return is 1.5%! I'm playing a game of "chicken" with the Federal Government that can't continue to run the printing presses and I strongly believe by next year at this time I will get some attractive returns for my cash. So if you are like me, be steadfast and patient because I can't believe in a corporate turn around for some long time to come and I certainly can't afford to be gambling at this stage of my life.
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