“The only way to guarantee you will have nothing at retirement is to invest nothing along the way” – John Bogle, Founder Vanguard
John Bogle stresses the necessity of continuously investing, no matter what the current world view is – Brexit or no Brexit. Interest rates are at a historical low. CDs and money market funds won’t even meet inflation. The only way to stay ahead long term is to keep investing in the markets.
The Vanguard founder does point out some likely intermediate uncertainity around the British exit and a possible Scottish exit from the mother empire.
Bogle is also concerned about the ability to set monetary and fiscal policy in the US and abroad. Interestingly he quotes Adam Smith (circa 1770s) on his thoughts when contesting the Prime Ministership of Scotland. Someone said Adam Smith’s election would ruin the nation and Adam Smith replied, there is a lot of ruin in the nation!
Questions about Brexit and your portfolio? Email td at vedafunds.com