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From Mark Ford, founder, Palm Beach Research Group: My wife, K, and I just welcomed our first grandchild. This baby is being born into a world of financial insecurity.
By the time he’s ready to retire, there’s a good chance there will be no Social Security. And there’s a good chance the income potential for workers across the world will have been flattened out.
That’s because the business world has expanded into a global market where workers from the poorest countries will be competing with workers from the richest countries. (Just as they are now. For example, someone in India can simply speak to Americans on the phone, work as an assistant architect, etc.)
One thing I can do is take advantage of the baby’s primary wealth-building asset: his longevity.
I put $10,000 into PBRG’s Legacy Portfolio for him (you could do that with a no-load index fund). In 60 years, if the market averages 8% (it has averaged 9%-plus for the last 100 years), he’ll have just over $1 million.
If he gets 9%—and holds on for 65 years—he’ll have just over $2.7 million. That amount of money won’t have the same impact as it would today… but it will be something.
Reeves’ Note: Mark’s blockbuster four-day training event starts on Monday. To learn his system for adding a million dollars to your net worth—without touching stocks—click here now to sign up instantly.