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View Diary: The goal IS to reduce the standard of living (386 comments)

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  •  Good for you (4.00)
    Watching your exposure to risk by moving money to non-American investments is a good step.

    Young folks should also consider investment in healthcare since demand will become exponential over the next 10 years as Baby Boomers continue to retire.  But use ethics in choosing these healthcare investments -- social and personal ethics.  It's not personally beneficial to invest in a firm that carries a lot of risk and is unethical in its own practices. (Example of risky selections: Pfizer and Merck, since both have BIG suits pending on drugs that may have been rushed to market.  Example of personal risk: investing in firms that spend a LOT on advertising and sampling to promote prescription products that compete with OTC products.)

    And definitely, leave below your means.  Been there, done that.  Didn't go out to eat but once a month and then only when reasonably priced (got a coupon for that?).  Went to matinees and late, late shows.  Bought clothes at consignment shops and NEVER bought at retail.  It was fun; it felt tight at the time, but in retrospect it was good times.  

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