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Old 02-22-2021, 04:08 PM
350 mag 350 mag is offline
 
Join Date: Jul 2009
Location: North Sask.
Posts: 360
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Quote:
Originally Posted by Ken07AOVette View Post
I agree, and thank you.

When the financial advisors are buying houses and vehicles and cabins and rental properties, do you think it is because they have invested 'their' money wisely?

No, it is because they are taking a little cut off everyone else's money.

A farmer here was going around getting people to invest with him. Many went bankrupt. He is just fine though. Think he is real popular?

A kid here went bankrupt a few years ago, then was calling trying to get me to invest with him.

These are people that for the most part do not want to work, they want to sit behind a desk on a phone staring at a computer trying to figure out how they can make money off what you have saved.

Sometimes it works, sometimes you lose everything. They do not lose, as it is your money they are playing with.

May as well take your savings to the roulette wheel at the casino (when it opens) bet on black or red. You will either win the same amount back or lose it all, but you have a 47.4% chance. Bet green (investor) hoping for the 22x payout and watch it come out red or black.

Best analogy I can make. There is no such thing as a totally safe investment (gamble).

In 2007/08 3 friends of mine lost hundreds of thousands of dollars they had invested in mutuals. 2 guys and their dad. Their dad is 70 years old and forced to work until he dies because due to no fault of his own, all his savings investments disappeared overnight. It was his choice to not leave it in savings though.
Ever since dot.com bubble they have screwed things up so badly by keeping interest rates artificially low and bailing out the banks and Wall St.

Once upon a time Savings&Loans were just that....a safe place to keep your life savings.

You didn't make huge returns but you didn't lose much either

Then they de-Regulated the banks(especially true in USA) so the could invest in riskier assets.

That's what happened in 08/09....

There are still many in USA that are suffering from that....I cannot imagine many ended up losing pensions, jobs, homes business and suicides.

All owed to human greed and Crony-Capitalism.
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