With the stock market having tumbled over 600 points on the Dow Jones Industrial and over 75 points on the S&P 500 today, people’s 401(k)’s, IRAs and investment accounts took massive hits.
But that is because people are investing in their futures under faulty assumptions. They think because Warren Buffet says you should buy and hold that you should. He is wrong. That worked well in the 80’s and 90’s where you could buy and hold. In fact, that is how people were able to retire so comfortably over the past 20 years.
Today that is not the case. Today you have so many forces working against you succeeding in the financial markets and being able to retire, that you can’t retire simply by throwing money at a mutual fund hoping that it will magically be worth way more in the future, simply because that is what worked for your mom and dad. The financial markets owe you and guarantee you nothing. If you think that in 20 or 30 years it will provide you with a retirement while you did nothing to help it grow, you are dead wrong.
You have things today that investors in the 80’s and 90’s never had to deal with: high frequency trading and computer algorithms trading faster then you can blink your eyes. There are dark pools where unaccounted trading takes place. You have hedge funds of every type, leveraged exchange traded funds adding to the volatility, banks that are writing you a mortgage and shorting it on the basis that you won’t be able to pay it off. Finally you have the emergence of the Federal Reserve playing a major role in the financial markets, not to mention the Bank of Japan, Bank of England, People’s Bank of China and the European Central Bank that are engaged in Quantitative Easing, ZIRP, NIRP, currency wars, bailouts not to mention rising and falling commodities in percentages not ever seen before.
If you think for a second you can just sit there, do nothing, throw money into a retirement account you are fooling yourself. Get educated. Learn what it means to trade and actively manage your own money. That is the only way you can assure yourself of a retirement. No one will ever care for your money as much as you will.
I have been actively teaching and trading with thousands of other traders over the years, and helping traders become the manager of their future and not dependent on some financial adviser that spends the majority of his time out on the golf course.
I am present every day in the financial markets. I provide the risk to every trade that I make, and on a day like today, I actually made money. I didn’t lose money. That is because I cashed out my positions yesterday and went straight to cash before the market sell-off ever happened. When the opportunity arose this morning, I shorted SPY and made a quick buck off of it. I am active in how I manage my accounts. I don’t take unnecessary risk, and I preserve the capital in my portfolio at all costs to avoid draw-downs
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