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When it comes to investing, this apple has fallen far from the family tree.
I became a Wall Street investment advisor, better known as a stockbroker, in 1981, and I’ve been an avid investor in stocks ever since.
On the other hand, my parents did not own a single share of stock until their late fifties, and only then because my mother inherited a stock of utilities from her aunt.
You cannot blame them. My parents were survivors of the Great Depression, at a time when stocks were down about 90% and some bank depositors lost everything. So it is only natural that they prefer treasury bills over stocks. For them, the stock market was more of a casino than a place for your life savings.
It also helped their day, that they don’t really need Wall Street, where they can easily earn 8% or more in risk-free treasuries or certificates of deposit (CDs).
These days, with savings rates near zero, many of us have practically had to buy stocks. But even for true believers like me, we can’t put all our eggs in a choppy basket.
So it is important to be aware of other potential investments. And there are plenty of them: by my count, more than 20. (Not all great ideas, of course.)
This is “money!” Podcast about: investments that don’t include stocks. So if you’re like me and you’re reaching the upper limits of what you’ll comfortably hold in stocks, or you’re like my parents and don’t want anything to do with them in the first place, this is your podcast.
As usual, journalist Miranda Marquette will be giving presentations. He listens and sometimes contributes to producer and novice investor Aaron Freeman.
Sit back, relax and listen to this week’s song “Money!” Audio notation:
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