If you’ve been watching the news lately, the economy might look pretty shaky right now. The stock market is dropping, businesses are looking for government handouts, and the President is preaching doom and gloom for us all. It’s as if a buyer’s market has become a bad thing because golden parachutes for those at the top suddenly aren’t large enough to blot out the sun from the average man on the street.
No one can predict the future, but if I’ve learned one thing in my life, it’s that the future is rarely as ominous as people make it out to be. Here are 5 types of people that I’d really offer a free, hot cup of STFU to when it comes to listening to their views on what the economy is and isn’t.
1. People Who Freak Out Every Time The Stock Market Drops
If you’re a current retiree who has to sell shares from your retirement fund to make ends meet, you are allowed to freak out a little because the value of your retirement fund can have a direct effect on your lifestyle. Most people who I hear moaning and groaning the loudest about their funds dropping in value aren’t retirees, though. They’re generally people who are still buying into their retirement funds.
Why is it that people look at low prices as being a good thing everywhere that they shop except the stock market? How does that make sense? If you’re buying into your retirement fund, low prices are actually a good thing. Rule number one of how to make money in finance isn’t “buy high, sell higher”. It’s “buy low, sell high”. When stock prices are down, you should be giddily buying, not bitching that you can’t buy at a higher price. A low price means you can buy more shares and have a potentially higher profit margin when you sell those shares after you retire.
So, if you’re not currently retired, do us all a favor and stop sighing and complaining about how much you’ve “lost” in the stock market. The fact is, you haven’t lost anything until you sell at a lower price than you bought at. If you aren’t selling, then you aren’t losing. Got it? Now, get out there and start buying because there is a fire sale going on right now, and supplying a steady stream of coke and hookers to that retirement home in your golden years is not going to be cheap.