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I have most of my money in S&P 500 index funds, which have done very well since 1986, as you pointed out. (I actually started in 1987.) 20% of my portfolio is in gold and silver however. Not ETFs but actual physical metals. This is a hedge against a market crash and inflation. Basically an ounce of gold 150 years ago has the same buying power today, even as they were furiously digging it out of the ground in California (and later the Yukon). As for silver, it has big upside potential due to industrial demand and scarcity.

File under not putting all your eggs in one basket.

I too have a bit of gold, and some moderate amount of silver. Not enough to be considered an investment or diversification vehicle, but rather as a Depression Hedge. If things get really bad, you can buy beans and rice for silver.

But among metals, I prefer copious quantities of lead and means with which to fling it.

Debt free, real estate, good dirt for growing, good fields of fire, wood and a freestanding fireplace to heat and cook on, food stocks, etc. Yeah, it’s all there..

But as an investment, I have millions of people get up in the morning and go to work to try to make me more money with their productivity. That’s where an investment can really literally WORK for you. I invest in productive humanity.

And it works well!