investing for retirement during an economic crisis. possible?

@mydanods (6761)
Nigeria
October 29, 2012 1:09am CST
many persons like myself are wont to start investing for retirement when the economy is having a boom. i believe so many people think like me. recently, i read that an expert says that is the reason why so many investments for retirees do not yield the expected returns. i wonder why anyone should recommend that i should start investing for retirement during an economic stagnation, when prospects are bleak? it bothers me. i am no expert on money and finance; i wonder why an expert should recommend that?
2 responses
@WakeUpKitty (8707)
• Netherlands
30 Oct 12
they want you to invest so they have your money to make money with.. if possible. I think it's not possible and it's way better to save your money for yourself. No matter if it's in a sock. The bank won't give you anything and if your money will be invested big change you won't even get back (in time/at the time you get retired) what you payed/invested. That happened to many of us already (I started with such kind of investment combination saving combination insurance for me and my kids..the money became each year less and less so I quit paying each month and now it's ended). It all was a big waste of money I worked hard for. I will never do such a thing again. Those years of great investments, making money are over and I don't see them come back soon since this economic mess is already going on since 10 or 12 years or longer.
@mydanods (6761)
• Nigeria
30 Oct 12
then it's just some expert giving advice for which he was paid by some corporation. i know some experts can do so, especially in this times of economic crisis and financial uncertainties. thanks for the advice, kitty.
@seliokas (346)
• Lithuania
29 Oct 12
If you don't want to invest to your future, that's your fault. It will pay off for sure, when you retire, every single bonus money will count. But of course, you can invest to your future by saving money to the retirement.
@mydanods (6761)
• Nigeria
29 Oct 12
investing is important, but it's risky and depends on timing, seliokas.