Is this the future you dream about for your children? One in which America’s corporate and political leaders tell them they’ll have to learn to live without? I don’t think so. But if they’re not responsible with their decisions, it’s absolutely where many will end up.
BlackRock co-founder Rob Kapito suggests that your children will have to do without. Bloomberg reports:
“For the first time, this generation is going to go into a store and not be able to get what they want,” Kapito said at conference held in Austin by the Texas Independent Producers and Royalty Owners Association. “And we have a very entitled generation that has never had to sacrifice.”
The economy is reckoning with what he dubbed “scarcity inflation,” or the fallout from a shortage of workers, agricultural supplies and housing, and of oil in some regions.
“I would put on your seat belts because this is something that we haven’t seen,” Kapito said.
When it comes to investing, treat every single dollar you make as if it’s a child. No one can afford to lose money. Not once has someone told me they can “afford to lose $100,000.” But it happens all the time.
Action Line: If you need help building an investment plan that treats your dollars like a cherished family member, I would love to talk with you. And if you have a child or grandchild nearing graduation or recently graduated from college, give them a copy of my free Special Report: How To Invest After Graduating College.
