Recently, Action News (WPVI) in Philadelphia reported that a man in Montgomery County received a Guinness World Record for owning the same car for 62 years! Purchased in 1951, for $2,163, the Chevy Bel Air Coupe has only 97,932 miles on it today.
Like a quality old car, you might try investing in a similar way – buy quality low-cost index funds and hold them for the long term. The moment you try to guess what the stock or bond market is going to do – you lose unless you get lucky! None of us have the benefit of knowing what is going to happen with the financial markets. So, buy quality and let time even out the bumps in the road.
Oh, by the way, had the $2,163 spent on the Chevy been invested in 1951 and earned an average of 7%, it would be worth over $134,000 today!
