Your Survival Guy

Preparing your investments and family for when disaster strikes.

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BlackRock Founder Warns About Your Children’s Financial Future

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The Great Depression Men line up for free bread and soup in 1932. By Everett Collection @ Shutterstock.com

Is this the future you dream about for your children? One in which America’s corporate and political leaders tell them they’ll have to learn to live without? I don’t think so. But if they’re not responsible with their decisions, it’s absolutely where many will end up.

BlackRock co-founder Rob Kapito suggests that your children will have to do without. Bloomberg reports:

“For the first time, this generation is going to go into a store and not be able to get what they want,” Kapito said at conference held in Austin by the Texas Independent Producers and Royalty Owners Association. “And we have a very entitled generation that has never had to sacrifice.”

The economy is reckoning with what he dubbed “scarcity inflation,” or the fallout from a shortage of workers, agricultural supplies and housing, and of oil in some regions.

“I would put on your seat belts because this is something that we haven’t seen,” Kapito said.

When it comes to investing, treat every single dollar you make as if it’s a child. No one can afford to lose money. Not once has someone told me they can “afford to lose $100,000.” But it happens all the time.

Action Line: If you need help building an investment plan that treats your dollars like a cherished family member, I would love to talk with you. And if you have a child or grandchild nearing graduation or recently graduated from college, give them a copy of my free Special Report: How To Invest After Graduating College.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.