I went out to dinner last night with one of my coworkers (who I met two days ago for the first time) and we were talking about work, family, and other things that people who don’t really know each other that well talk about. As we were walking back to the hotel we are staying at, he asked me if I’ve started buying gold or silver due to the economic uncertainty in America.
My response. “No.” I wish I would have bought Gold four or five years ago, but I’m personally not convinced it’s a good buy right now (bubble anyone?). The conversation snowballed as we talked about our investment portfolios and the future of America.
My favorite thing about personal finance is that there are a million different ways people can manage their money. Unlike a snuggie, personal finance is not a “one size fits all” gig. I’m aggressive in my investments (all stocks). He’s very conservative (all government bonds).
At one point during the conversation he said something along the lines of “The US Dollar will eventually crumble and we are going to end up exactly like Greece.” I responded, “You really believe that?” Turns out he does.
While I obviously am no political and/or economic expert, I definitely don’t believe America as we know it is going to hell in a hand basket.
Maybe I’m ignorant? Maybe I’m too young to understand? Maybe I’m wrong? Maybe I’m a wishful thinker? I’m just not buying in to all the doom and gloom.
I’ve said it many times before, but I am all stocks for at least the next ten to fifteen years because I believe America will ultimately prosper. If for some reason we don’t, my retirement portfolio allocations will probably be the least of my concerns.
It’s funny how different people can be. Two people, two completely different opinions.
What do you think? What is the future of America? Will we ultimately prosper or are we doomed to epic failure like Greece?
On a completely random note. I took out money from the ATM last night and, for probably the only time in my life, I physically held one hundred thousand dollars. Okay, not dollars. Korean Won; same thing right? Took a screenshot because it’s kinda cool and I’m nerdy like that…