From the 1840s to the 1870s, Horace Greeley was America’s most influential newspaper editor. His most famous saying was, “Go west, young man!” If Mr. Greeley were alive today, he might add another saying, “Buy acreage, young man!”
In the middle of the 1800s, there were opportunities available for young men venturesome enough to move west, and today there are opportunities available for young men venturesome enough to acquire land.
If a young man will buy acreage and hold it for the long term, he is availing himself of the only asset known to man that can’t be destroyed, can’t be stolen, can’t be reproduced, is sure to still be here in future years, and is certain to be worth more money than it is today. There are no other financial assets that can lay claim to all of these unique characteristics.
Investing in the stock market can be complicated, and sometimes even the largest and most popular stocks, such as General Motors or TWA, can go broke and wipe out stockholders.
Holding cash is a losing proposition, as ongoing inflation devaluates the buying power of the dollar with every passing year.However, if a young man will buy acreage in his 20s, in his 30s, in his 40s, and in his 50s—then he will be very financially secure in his 60s, 70s and 80s!
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