Before he died, Jack Bogle was interviewed by AARP magazine. I found his words of wisdom well worth re-reading. Below are a few of Jack's investment gems in the article:
Jack Bogle's Simple Advice for Investors"Only about $4 trillion (is held by individuals in stocks). The largest share—$17 trillion—is held by institutions."
"Investing in dollars is a loser’s game. You have to buy stocks and bonds."
"I want to be clear that you should always have some cash reserves, particularly when you are older."
"You want some bonds in your portfolio, for safety. But you need stocks for growth."
"Absolutely no one knows what the stock market is going to do tomorrow, let alone next year. Nor which sector, style or region will lead and which will lag. Given this absolute uncertainty, the most logical strategy is to invest as broadly as possible and benefit from the compounding dividend yields and long term earnings growth of American — and global — corporations."
"And when you allocate your assets, you also have to think about how much you get from Social Security."
"I would limit yourself to 20 percent of your portfolio in foreign stocks. I don’t do it myself."
(annuities) "They’re highly complex and are sold by people who may not understand them themselves. Variable annuities are very dangerous because they can’t always deliver what they promise."
Thank you, Jack.