If the stock market collapse is imminent, or at least on the near horizon, now is the time to take money off that table and put it into your retirement home sooner rather than later. Why would I suggest this? I’ll tell you exactly why.
Stock Market Collapse v. Real Estate
If you listen to the talking heads and your financial adviser handling your retirement account, you are undoubtedly being told not to panic in the midst of these huge declines in the stock market and your retirement fund. In fact, many of them are saying this is a buying opportunity. One of their favorites is this one, “remember, you’re investing for the long term, so now is not the time to sell.” What they cannot tell you with any certainty is whether you are about to suffer a stock market collapse.
Every time there is a major market crash, they say you should stay in the market, and they also like to say you should actually put more money in the market. Many retirees have sat on their hands while they lost 30% to 70% of their life’s savings. I’m not making this up. This is what many of my clients from California have told me in past years after a stock market collapse. Imagine your retirement account losing $400,000 in value in a matter of weeks because of a stock market collapse. You could have bought a retirement home with cash in Sequim, Washington.
I’ve been a lawyer (retired), registered financial adviser (no longer), and own my own virtual real state brokerage now, and it is my opinion that your money is safer in a solid real estate purchase than it is in this stock market. I could be wrong, but there are too many signs we are in a stock market bubble that is about to burst. I’m not giving you financial advise here. Talk to your financial adviser, but we know what he will say. Remember, it is so darn easy for your financial adviser to gamble with . . . your money, but how do you feel about gambling with your life savings?
Stock Market Collapse Coming
I could be wrong, but if there is a stock market collapse on the near horizon, how will that impact you? Will you wish you had sold a part of your retirement holdings and put them in a retirement home? I’m 63 years old, and I’ve seen a few market cycles, including real estate and stock market collapse scenarios. I’m just trying to give you another perspective, which you won’t get from your financial advisers.
Yes, I’d love to sell you a home in Sequim as your buyer’s agent, but this article is not exactly going to make me rich doing that. You do what is in your best interests, but just remember, no one is going to stay awake at night worrying about your retirement account–certainly not your financial adviser who makes money as long as you keep your funds in the market. Except you. You are the only one who will worry about your retirement account, and you owe it to yourself to do your own research to figure out how to protect your financial future as you get older. You and I are too old to start all over, right? Especially if there is a stock market collapse.
Possibly Related Posts:
- Should I Submit a Backup Offer in this Market?
- Sequim Real Estate Market
- A Sequim Real Estate Market Update by Video
- Sequim Realtor Publishes New Book
- The Sequim Real Estate Market for 2019
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