Lots of people are posting right now about how Wall Street indexes have plunged, so everyone should take the opportunity to buy, buy, buy! I don’t mess with Wall Street, for many reasons. Or bitcoin either.
I understand why people do mess with mutual funds, stocks, etc.; people are just trying to survive and thrive. And a lot of people don’t know about other options such as local investments.
And many of us don’t know the damage that we are doing (to the planet, to our communities, and to ourselves) by continuing to feed big distant corporate entities. (And BTW for various reasons, even the so-called “socially responsible investment funds” are not really a good alternative.)
The truth is that a lot of us feel shafted by big corporations. But, if we are investing in Wall Street, we are also supporting the big distant entities who are shafting us.
On my blog, and here on this page too, I have posted extensively about other approaches to investing, as well as ways to live abundantly without needing to amass so much money as to require a fund that grows 7% a year or whatever.
The two best ways I know of to not need to amass a large nest egg that grows at a planet-killing percentage per year, are
1) Reduce your need to earn; and
2) Learn about the eight forms of capital (only one of which is money).
I have posted on both of these topics. You should be able to find multiple posts by typing the terms into the search field of this blog. If you don’t find the posts, give me a shout and I will dig the links up for you!
By the way, the reason I read for the recent stock-index drop is that the US economy is not growing as fast as expected. This bespeaks a very flawed collective understanding about what the real economy is.