Calamity howling is always in style with some folks, every
year.
1974 was 50 years ago this year! I was fresh out of
high school bright eyed and earnest about all things JW and Watchtower. I was
earning $10 an hour working full time manufacturing tiny parts for those new-fangled
computers. Every talk from the platforms at my Kingdom Hall, and Conventions
warned of the END OF THE WORLD as we know it!!! WOW!! 1975 was the END OF 6,000
years of man’s existence on the planet-according to JWs!! (My non-JW dad rolled
his eyes about Watchtower’s teachings and prodded me to go to college, save
10%+ of every paycheck, and buy a house. He said: if you don’t go to college,
at least do the same work for Hewitt Packard Corp., buy a house, save, get a
decent pension and benefits, and you will be set in your old age!)
BUT… At the time all the calamity howlers, preppers, and
Watchtower seemed right! The US had just lost the Vietnam War to China’s
and the USSR’s proxy North Vietnam. The Soviets seemed unstoppable. Nixon had
just resigned in disgrace. The inflation rate was 11.1%! 1974 was a Bear market,
and stocks tumbled 43%! The Dow was down to 570 on Dec 9, 1974 (42,124. 9/24/24).
Watchtower predicted that people would soon be “throwing their worthless money
in the streets!”. Mom and many JW relatives ran up credit card balances, or sold
homes, or quit jobs expecting to “never have to pay back debts in this system”!!
(Meanwhile, Dad rolled his eyes and invested in more real estate and stocks).
Who did I listen to in 1974? Calamity howling JWs, “EXPERTS”
and WATCHTOWER!! After much prodding from the magazines, books, the platform
and local elders, I quit my full-time job and started to pioneer!! A year later
I went to Bethel!! After returning from Bethel, I pioneered and went to where
the need was great! I didn’t save a penny! Always out in Serve-us. Poverty
ensued, while THE END did not arrive in 1975,76,77,78,79,80,81, or 1982 and on
and on. The 1914 Generation DID pass away by the 90s! (Meanwhile Dad had just kept his corporate
job, and kept investing, while politely rolling his eyes at me).
Had I ignored Watchtower, AND popular press Calamity Howlers
of 1974, and simply listened to my “Worldly” Dad, how much money would I have now
by simply investing $166 per month ($8 work day) in a retirement account with
an average S&P stock return of 11% for 50 years??? $3,354,829.90. Yes, folks, THREE
MILLION DOLLARS. Lesson? Simple 6th grade math,
compound interest, and common sense would have beat Watchtower and all the
calamity howlers of 1974….and 2024.
https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator