Just when you thought it was safe to venture back into the stock market, it has recorded it's biggest losses since the Crash of 2008. I can't tell you how many people I consulted with back then who shared horror stories about the massive hit they took in their children's college savings accounts. And, as Yogi Berra would say, it's deja vu all over again!
Now don't get me wrong: I'm not saying there's no place for the stock market in our lives. It can be a great place for long-term investing. But short term, it's mercurial rises and falls can make or break your portfolio. And if you have a student who is getting ready for college in the next year or two, can you afford to take the chance that another downturn could wipe out their college funds?
With the skyrocketing cost of higher education, how can you possibly take the chance of losing any of the hard-earned money you've put aside for college? Shouldn't you be looking for safer, more reliable vehicles as the time draws close? I'd certainly say so.
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