Recession/Vanguard Fund for 20 something sons
After years of educating my sons, now 27 and 24yrs old , about investing in Vanguard they finally bit the bullet and started their accounts a few months ago. Is this the absolute worse time to do this? I also encouraged the High Yield Savings account with Synchrony Bank if they wanted a secure investment. Please help! And thank you for all of your insights.
Terry Says
Over the LONG run, the stock market has ALWAYS moved higher, reflecting the growth of America. Recessions do tend to set the market back. So encourage your sons to start a regular plan of investing– preferably inside a Roth IRA if they have earned income. And they need the discipline to stick to the plan — even when it is scary!
Spend $10 and buy them The Savage Truth on Money on Amazon. It is written for them!
