Barbara Schrader-McNeil
Words of wisdom from one the greatest investors of all times: Warren Buffett
Warren Buffett gave us two rules regarding investing:
1. Never lose money
2. Never forget Rule No. 1
Over the past several weeks, the stock market took yet another downturn after the United States lost its prized AAA rating from the S & P. History may not always repeat itself, but it often rhymes. For example, in 1929 the stock market crashed however the market did not bottom out until three years later in 1932. Our most recent economic downturn began in 2008 and is still ongoing. When it will bottom out is still to be determined.
As simple and overused as Mr. Buffett’s rules of investing may be, I find that many people still lose sight of this concept….even during these turbulent economic times. Clients who are at or nearing retirement are not in a position to risk or lose their retirement assets. We do not know what the future of the stock market holds, but we can assume that one of three things will happen: it will go up, go down or stay flat.
Over the past several years, we have created plans for many of our clients to eliminate two of the aforementioned assumptions (down and flat) utilizing financial vehicles that guarantee safety and principal protection, protection of retirement income and a strategy to outpace inflation.
Please call us sooner rather than later to discuss how we can focus on making your money go up and keeping if safe for retirement.
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