This post is more of a question than an answer.
I watch CNBC every morning while on the treadmill. Each day, a different ‘expert’ gives an opinion on where our market is headed. However, there never seems to be a consensus. For every commentator that says ‘stocks are great, we are headed up’, there is someone else that says ‘ya gotta buy gold to protect yourself”.
I live in Michigan, where the economy is abysmal. I have been focusing on reducing debt (mortgage) and building up as much cash as possible. I have not been buying stock like I once did just because layoffs always seems to loom, and the equity in my house has plummeted. I may be missing opportunity by using extra money to reduce debt on my low-interest rate mortgage. But, the peace I feel for not being underwater on my home is worth more to me right now than the incremental money I could POSSIBLY make in the stock market. Don’t get me wrong, I still own stock in my retirement accounts and some mutual funds. However, for now, I am hesitant to jump right back into the market.
Maybe if I have any extra money at the end of the month, I will buy some gold and put it under my mattress…
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