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Bogle on Brexit and Other Threats to Global Markets

We have more borrowing, more leverage, more government debt relative to GDP than we have ever had with no attempt to get it down, says Vanguard founder Jack Bogle

Scott Cooley: So, if you think about things going on around the world, the possibility of the U.K. leaving the European Union, the slowdown in China, the U.S. Presidential election doesn't make democracy look very good, there are probably lots of reasons for concern. As an investor how should you cope with that?

John C. Bogle: Well, you can only control what you can control. I think whatever your view of the world is, you have to invest. You can't put the money in the mattress and in this day and age of low interest rates, you can't put it in the money market fund or a bank CD, so invest, you must. Now, you might want to invest regularly. For people that are investing regularly, I would say for god's sake don't stop investing now. I know the market is not doing much this year, just about where it started a little bit down, but not much and bond yields are still very low, actually lower than they were at the beginning of the year, but you have to put your money to work. The alternative is – I mean, the only way to guarantee you will have nothing at retirement is to invest nothing along the way. So, you have to take your chances.