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Originally Posted by samcol
How is that possible? Social Security is in US dollars. The dollar is no longer pegged to the Gold standard. Social Security will and is being affected by inflation. That's what my question was earlier. Can any retirement program possibly keep up with the inflation we've seen since 1933 (besides outright speculating which is basically gambling)? The only thing I know of is hard assests like land or precious metals.
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Yes? Just buying the DJIA will kick the crap out of inflation from 1933 to say 2002. If you where smart and diversified internationally you could be doing even better.
Land, to the start of the current bubble, gave worse returns than the DJIA.
Gold moves randomly, fueled by speculation more than demand.
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That's why I'm sticking with gold for savings/retirement.
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That's gambling.
I understand you benefit from talking up your bet to other people, but things that have far less value than their marginal utility to people don't make good investments at any time.