I gave my nieces and nephews precious metals for Christmas last year along with a one page essay on wealth accumulation, complete with a chart showing the flat lining of real wages and soaring of investment profits since Reagan. It is a fact of history that assets can create wealth and income can hopefully buy you assets, but is unlikely to ever lead to financial security in the absence of asset acquisition. Of course, one could always consider financial security to be delusional, and so just live in a tent on a tropical beach. Not sure how you’d get food and water though, and hopefully you’d at least own the tent.

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