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June 04, 2014

"Confessions of a millennial who hasn't invested a dime in stocks"

Well, that's probably a shame

I know, intellectually speaking, that I should find a boring old index fund and sock my money away there. It probably wouldn't even be that hard! But emotionally, it feels like soaking it in kerosene and storing it at a fireworks show. Very easy to just put it off and do it some other time — maybe after the next time the market crashes.

Maybe he'll be right and This Time Will Be Different. But the odds are against that. 

Comments

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Cheesetrader

I really feel for the milennials - saddled with student debt and not invested in their financial futures while working as barristas.

To heck with the index fund - go find 2 or 3 quality dividend stocks - buy, add, drip and have a secure financial life.

tj

Not the wisest thing to do, but after reading the article I see why he feels that way.

Jack PQ

"Incredibly corrupt system" is a harsh indictment. But there are crooks everywhere, not just in finance. Generally, those who are taken advantage of have invested with people who promised them impossibly high returns, i.e. get rich quick plans. Yet finance profs keep telling everyone who'll listen that you cannot beat the system and super-returns are super-dodgy (even Nobel winner Bob Merton got wiped out with LTCM).

So where is the corruption in plain old index funds? Evidence please.

A different issue is that everyone has a "time preference", and if returns are very low, it's understandable they'd prefer to consume now rather than save and consume later. But then why put your money in zero-return savings? Odd.

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