Even with the heavy downturn on Wall Street I have done very well in the 7 years I have been in the market. I have a lot more to show for it than from my 20 years in the watchtower.
I've almost paid off my house, have travelled all across the USA and have a nice little moth eaten rusty nest egg that I am very glad I have.
My father, who is a JW elder, has made fun of me the whole 7 years I have been involved in the stock market. I think he actually rejoices when it goes down do he can do the "I told you so" routine. Its quite sad. He waited his whole life for the end to come. He and mom became witnesses in 1945. He never made more than $25,000 his whole life (why find a better job when the end is so near), never bought a house until he was ready to retire (he raised onions on the weekends for 3 years and made enough to buy him and mom a spartan little house out in the country) and he and mom never travelled anywhere except to assemblies.
I take mom pictures of the places I have visited and she always sadly remarks how she would have loved to see the world. Their poor health won't allow for travel now.
My parents are not stupid people, but unfortunately they are far too trusting.
For the last few months the Tower & Wall St have a lot in common:
Both are losers!
I agree with larc, Wall St is the best bet in the long run. The market was over inflated during the past year, and we're seeing a period of correction--it had to come.
larc, i got my fear from borrowing $ & losing my shirt there.I'm inactive.
neyank, that's an interesting point of lottery tickets and gambling.I believe if one trades options or Futures, that for every winner there's a loser.
So if one makes a killing one day playing options and you make let's say $1975.00 and give it to Watchtower Society and inform them somedude out there lost this money, but do to good timing you got it and are now giving it to them, Do you think they'd cash the check?
Options and futures trading is gambling. The only exeption is selling covered put or call options, which which is a way of hedging your investment. The best way to invest is to put the same amount every month in a well managed mutual fund, preferably in a 401k or IRA account. If you have at least 10 years to do this, there is no risk, and therefore you are not gambling.
