Cornelius Vanderbilt left his heirs the inflation-adjusted equivalent of something like $300 billion. Within 50 years it was gone.
The latest warning was stark – that China’s population will shrink this year, more than a decade faster than forecast, and the country will become a ‘super-aged’ society by 2035. The economic implications will be a ‘huge thing’.
Pack a sheet, leave the wedding ring at home, and skip the street food.
The goal of investing is to pick an asset allocation, within your risk tolerance, that should get you close to your future goals. Then leave it alone. Let the allocation do all the work.
But that’s not what happens.
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