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Markets crashing sit tight
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I am strictly speaking about putting in
money in the long term not in the short
term. If anybody help me admit what's
happening in the market the last week
market is crashing
um all the profits that was accumulated
from November till now is basically
gone for a person that sells his
position now it's gone but for a person
that sits tight and understand that this
is the way this is the mahal it
goes it's going to turn around and it's
going to go back up and it's going to be
make back all of that it loss plus the
stock market in America never went to
zero. In the 1920s, it lost 80% of its
value. The next biggest crash was in
2008 where it lost 35 or 38% in its
value. But if a person put in money in
2006 and in 2008 he saw his money down
at 50%, let's say he put out $100,000
and it went down to $50,000. If he sold
then his position, he lost $50,000. But
if he sat tight till 2014, he already
doubled his money. not lost 50% but he
already doubled his money. So of course
you're going to have waves. This is the
way it works. It's it's it's it's waves
and we have to be very strong and very
disciplined. This is not the way I work.
My is you have to open up an account in
a brokerage firm like fidelity.com. You
open up a broker an account for each
child. They start putting in $25 a week,
$5 a day. You set it up on a weekly at
$25 a week for every child for 20 years.
And it has to go steady. Not when I have
the money I put. When I don't have the
money, I don't put. You have to set it
up steady. $5 a day. That's $25 a week
in the account. Automatic withdrawal
from your bank account. It goes into
your
account. as the occumentation can
hind,000.