Rollercoasters are fun at the amusement park, but not when it comes to your retirement.
I don’t ride rollercoasters much nor do I own one. But I do own dogs, so let’s use them as an example of the extremes of the rollercoaster ride of the stock market.
My wife and I used to own two dogs: a $75 reject from the Humane Society named Gater(passed away a few months ago) and a $3,500 full-blooded black Russian Terrier named Stella. Two totally different dogs with two totally different personalities and temperaments.
Gater is laid back and wouldn’t hurt a fly. We have no clue about his stock or where he came from. Heck, we don’t even know his age. But who knows and who cares? Gater is/was a great dog.
Stella, on the other hand, is a 90-pound show dog bred to be a guard dog. To say she’s beautiful and full of personality would be an understatement. But unlike Gater, whose temperament is very predictable, Stella’s is not.
I feature Stella on my weekly TV show, so everyone seems to want to meet her when they come to the house; no one seems too interested in plain ole’ Gater. Yet, Stella is not for the faint of heart. Based on her high maintenance, cost, and unpredictable nature, dog experts warn not to get a dog like Stella unless you know a lot about raising dogs.
So which dog is the best to have around? Well, that depends.
It depends on what you’re looking for…a laid back, not so beautiful, very predictable $75 dog like Gater, or a very expensive, beautiful, yet sometimes volatile dog like Stella.
Believe it or now, choosing the right financial product(s) &plan for you is similar to choosing the right type of dog. That’s because financial products, like dogs, come in all sorts of varieties, breeds, and personalities. Some investments are laid back and slow growing, but over time, very predictable (like Gater.) “Gater-Products” include fixed annuities, hybrid annuities, government bonds, and bank products.
On the other hand, if you’re in the mood for a more challenging, potentially high-flying product, like stocks, REITS, mutual funds, gold (you know, things that are unpredictable,) then maybe a “Stella-Product” is more your cup of tea.
Riding the rollercoaster that is the stock market with its high maintenance and whirlwind of emotions products is alot like owning Stella. I love her with all my heart but at times there is alot of stress, worry, and highs and lows of owning her. So, you have to ask yourself which kind of dog do I want and if its more of the Stella type of dog, be prepared to ride that rollercoaster!
In fact, to guard against another stock market rollercoaster crash, we suggest Savers have no more than 30% of their money in the stock market.*
Take action to protect your retirement today and meet with me in person, our meetings are free and you pay nothing up front. Click on the button below to get started and stop riding the rollercoaster of the stock market today!
*note: not all cases will there be a suggestion of having 30% of your money in the stock market. Final determination must include an analysis by Tony Walker to determine what percentage, if any, you might invest in the market.