Press "Enter" to skip to content

Should I save or should I buy stocks?


The Warren Buffett meme with versions of the legendary investor’s advice to be fearful when others are greedy, and to be greedy when others are fearful, has been making the rounds on social media as the markets have rocked and rolled over the last few weeks.

There is logic in this advice. But not everyone is keen on stock market risk when so much is uncertain, especially job security. If you are part of a pair that makes joint financial decisions, figuring out what to do can be tricky. 

This dilemma prompted a woman to ask me how she could convince her spouse to save and stop putting more money in stocks? It’s a question that requires both people in the relationship to examine their tolerance for risk and to come to a compromise that makes them both feel secure. 

Start with your why 

“Please stop putting all our money into the stock market” isn’t going to go as far as, “our jobs are both vulnerable right now and we only have three months’ worth of living expenses set aside, and it would make me more comfortable if we focused on boosting our savings instead of investing.”



Source link

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *