Buy low, sell high. A simple concept. Hard to do. Just ask the baby boomers.
They are the wealthiest generation in U.S. history. And they’ve never felt richer. That’s because the oldest of the boomers, those who turned 65 in 2011, have witnessed an advance in the S&P 500-stock index of 91 percent.
My advice? Take some of that money and tuck it away for when you might need it. As I wrote to you yesterday, spending trends are down.
What I’m not reading about is investors taking a survival approach to their investments.
It’s time to start taking action. Begin by constructing a moat around your portfolio. After the recent strong performance in markets, this strategy will require you pare back on some of your winners.
I’m concerned that investors have become too comfortable with markets going up, but haven’t prepared enough for when they’ll come down.
Don’t let that be you. Take a proactive approach to your wealth management. Build a moat around your portfolio. If you need help doing that, contact me at email@example.com.