Q: Any thoughts?

A: You are referring to the concept of illiquidity. Not being able to access your funds for so long (when they might be needed) should carry a correspondingly higher return than investments that can be made into cash on short notice. During the time that your money is locked up, you must suffer the risks of inflation and even a failure to earn what you think you will.

In an interesting conversation with a client family this week, they remarked that their portfolio (like most) had dropped in price about 40% during the 2008-‘09 stock market/economic troubles. The interesting comment was that they were glad that they had a lot of equity in their home during that time and the value was therefore “preserved.”

I asked, “What do you think your house would have sold for in

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