if a crash comes, which is the safest haven for my retirement funds?

A lot of commentary seems to issue the warning that the wheels of the capitalist system are starting to wobble. As a retiree, I am acutely aware of not putting all my eggs into one basket: but the problem we all face is that everything seems interconnected. What is your advice for what would be a good set of diverse investments for the just-retired?

Official response from submitted

I make it a rule never to give advice when I have not first ascertained the financial details of the person to whom I am offering the advice. So I cannot offer it to you in these circumstances either. I can say to you that capitalism has a long history of cycles that basically run usually every 4-7 years. The last cyclical downturn in the US (and elsewhere too) was in 2009-2010. You can do the arithmetic. Be extraordinarily cautious because the fast-worsening political instabilities overlay the underlying economic instabilities.

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  • Richard Wolff
    responded with submitted 2017-02-01 23:22:33 -0500
  • Mel Bourne
    published this page in Ask Prof. Wolff 2017-02-01 18:08:11 -0500