So, since Crypto started making waves and I started reading a little bit more of Tony Robbins again, I’m getting really scared about why there’s such a huge divide between the Gen B’s and the newer generations.
After 2008, who trusts the banks? I mean the value on people’s homes was reduced by 80%. On top of that, 401K’s (also known to be in the stock markets), were completely wiped out. Could you imagine being 60-years-old and seeing your 401K go right down the drain? Did anyone claim reliability? Absolutely not.
So, this is why I continue to have my doubts because there isn’t any straightforward information in terms of saving long-term. It’s scary. Thailand’s last crash was back in 97/98, resulting in quite a few suicides across Eastern and Southeast Asia.
How can we protect ourselves from crashes? I mean I ask myself the most basic question, “if 401k’s get wiped clean every 8-12 years, what’s the point?”
Honestly, would love to hear someone’s opinion.
And this is what brings me to Cryptocurrency. Sure, it’s a massive fluctuation, but with blockchain on the verge of changing the way we view money, it seems like regular currency will be a thing of the past by the late century.
You know what I really want to point out….how come is it that the “over 60’s” keep so much information from one another? Here’s a question, show me a blog or a book that Warren Buffet, Ray Dalio or any of those Wallstreet fools (I say that lightly, too) wrote and talked about how to invest.
See, that’s the problem right there. Am I blaming the WWII, Korean War, Vietnam War eras for this? Well, kinda…in a sense that Americans, and the world in general, had a completely different mindset on life back in those days. Do you think they want to change now? HELL NO!!! This is why racism has been perpetuated for so long because the Gen B’s rub off on the Gen Z….so the only way an anglo kid from Norman, Oklahoma won’t be a racist is if he moves to a culturally diverse city.
That’s a FACT.
But anyways…let’s break this down.
“If you buy something like a farm, an apartment house, or an interest in a business… You can do that on a private basis… And it’s a perfectly satisfactory investment,” he said. “You look at the investment itself to deliver the return to you. Now, if you buy something like bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.” – Warren Buffet
Ok, so how do the markets return on us without being penalized? How about the hidden fees that these “trust funds” inadvertently put in so that financial managers can dig deep into the “potential savings” of the others?
“In terms of cryptocurrencies, generally, I can almost say with certainty that they will come to a bad ending,” Buffet said. He went on to say he’d bet on “every one of the cryptocurrencies” falling over the next five years. “But, I would never short a dime’s worth,” he added. – Warren Buffet
Like the DOTCOM crash? Ok, some people would blame banks or housing.
How about 2008? Oh, let’s blame the banks.
Great depression? Let’s blame the banks.
How come Warren doesn’t sit down with the world and teach them out to invest? This is what really drives me up the wall.
“There’s a real bubble in that sort of thing,” – Warren Buffet
Like…ummm, 2000-2008? That bubble? The bubble that bursted?
See, just like most over 50’s, this is a many that points fingers, critcizes, and gives no definitive follow-ups.
He should perhaps rephrase himself and say, “ok, guys. Crypto is this………and this is what’s going to happen. However, I believe if you put your money here in these indexes, it will accumulate this much over a 10-year period.”
The thing is….he doesn’t do that.
And that’s why I can NEVER trust anyone from that era. There’s just too many hidden things and beating around the bush.