Quote:
Originally Posted by Slava
Well, I can’t give investment advice without knowing more, but if you have 30+ years until retirement (and you don’t need every dime of retirement income at age 65 either), you should be investing in things other than GICs.
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perhaps my previous post was unclear.
I plan to be moving a chunk of my money into GICs after I retire and live off the interest. Right now even for short term saving I just put my money into CASH.to and for long term saving I put it into XEQT with a bit of BRK.B on the US side.
Regardless though, whether I do that or put it all into an SP500 tracking index, the biggest issue for me is that I just do not believe my wealth will grow to that 2.7M mark that I believe would be sufficient to live comfortably. I believe the US market in particular is overvalued and with declining birth rates North America will probably go the way of Japan or Europe. I hope I am wrong but I can't change my feelings. Too many financial "experts" have faith that the American market will follow past returns. Yes it's the world's most free economy and a place like Silicon Valley attracts the brightest minds, but I can't predict the future. My retirement depends on market growth outpacing inflation unless I basically live frugally in the middle age years. That strategy was flawless for past generations but past generations are the same ones who bought 3000 sq ft homes for 250k just to use as investment properties, they never depended on their savings alone. I will never own a second property unless home prices plummet.