Bruh, if you had invested your school lunch money instead of literally eating it and thus draining it down the toilet, you would have been a millionaire by now. Subscribe for more of my finance tips for just $20 a month.
i was so fucking dumb at 8 years old. instead of buying a house for renting for passive income i bought a 5 dollar guitar hero rock the 80s game on ps2
Wait, what did you do with the small million dollar loan from your parents?
Hookers and blow, my friend. What else is there?
Loan? I was supposed to pay that back?
bought rock band dlc with all my money
sadly i was still unable to get all the beatles dlc and spinal tap. metallica got delisted before i knew what dlc was
You had lunch money? I had enough to cover 1 small milk carton a week. I had hunger and no investments.
Well of course they do. That’s the whole point of the legal scam of investing. If it benefits regular people it wouldn’t exist.
This is an important thing to note when someone claims that you should be eager about stock market performance because of your [comparative handful of] shares in your retirement account. Accounts such as the 401k were probably devised to tie up regular people’s money into the stock market, injecting more money into it and making it seem more important (and thus worth bailing out).
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They really cooked up such a great Ponzi with 401k. I’m sure it’ll get rugged right when we come of age to cash out.
This point is huge and seemingly overlooked by most people? Once a majority of boomers start pulling their 401k money I don’t think millennials and gen x will be putting as much money back in.
Accounts such as the 401k were probably devised to tie up regular people’s money into the stock market
Aren’t pensions also tied up in the stock market. Yes there’s a difference of who manages and how the contributions are made, but both plans put the security of your retirement in the market in some capacity, right?
Pensions also allocate some funds in stocks, but overall they invest conservatively. By default, most 401k funds are set to a target retirement date fund and early on those are mostly stocks. These funds also often have significant annual fees. Instead of a single large fund managed conservatively, you have many individual funds that are managed all over the place. The common advice is to invest more aggressively when you’re younger, there has also been a huge push toward ETFs which are their own tangled mess and have a potential for trouble in the future, but that’s a different topic.
Are the fees of target funds usually that significant? Vanguard Target Funds have an expense ratio of 0.08%. They say the average comparative fund is 0.44%, which is a bit high for my liking, but not terribel compared to other managed funds. https://investor.vanguard.com/investment-products/mutual-funds/profile/vfifx#performance-fees
Vanguard is good with fees. That 0.44% is an average so there are also funds that charge more. I think fees have come down as 1) more attention was brought to them 2) Such funds became more computerized and straightforward to manage. Still, a 0.44% average fee each year is a significant chunk of change.
I fully agree on .44% being high. I raise an eyebrow on anything over .10%. But if you follow the old reddit personal finance prime directive… You should max out your 401k inso far as you maximize the employer match. Then max out your Roth IRA where you hopefully have access to better expense ratio target funds. I have been trying out the 0% Fidelity index mutual funds as opposed to older S&P500 funds to maximize potential there.
I haven’t really looked at the robo brokers though. What are fees like for betterment and the like?
Either way, I think people are shooting themselves in the foot for not investing in index funds or target funds out of moral principle. Unfortunately there isn’t much other safety net for your retirement, and you’re probably going to be forced to spend cash for everyday goods from major corporations. Might as well try to secure some value of those same corporations at the same time instead of letting your savings constantly depreciate over time.
And you thought Monopoly was just a game!
Half of the game. You’re supposed to end the Monopoly phase when everyone gets frustrated, and switch to the Prosperity rules.
Close.
Halfway through the game you’re supposed to end the Monopoly phase and switch to eating the rich. This redistributes the wealth and allows everyone a fair chance again.
Billionaires shouldn’t exist.
The “Eat the rich” crowd continues to do absolutely nothing.
Unfortunately cannibalism is still unwelcome in society 😔
Just become rich, no need to eat anyone.
Just become rich, you won’t be prosecuted for any crimes.
Seems weird to make this assertion, and fail to provide what the total holdings cutoff is to be in the top 10%.
Right. Is it 10 figures? 7 figures?
… 5 figures?
Almost like it’s clickbait designed for echo chambers like eattherich.
Don’t get me wrong, fuck the rich. But bold claims like this need to show their methodology. Hiding it is sus.
“The 1%” is the catchphrase, but that’s only a net worth of about $10 Million. The people they are really mad at are the 0.01% or lower. This article uses 10% which is about $850,000 in net worth.
According to Wikipedia it’s an annual income of 154k as of 2019.
154k is middle class. And everyone in this thread is trying to figure out how to fuck them the hardest.
Then you don’t understand the statistical definition of middle class. According to PEW the bounds in 2021 were 43,000 and 130,000.
If that sounds like it’s not enough to be financially secure in the modern day… All I have to say is people have been trying to tell everyone.
That said, yeah of course we’re not trying to eat the merely rich. However the stock market is hardly some big equalizer if it effectively only serves the top ten percent.
https://www.kiplinger.com/personal-finance/605075/are-you-rich
It’s under 200k easy. I’d guess it has more to do with an inflated market than pushing poorer people out.
No shit. If someone does not have money they don’t need then they can not buy stocks or any investment.
So many hands
As is tradition.
No no you guys all don’t understand that this is a good thing because… (let me check my notes…) ….uh…hm…derrr…communism.
My wife and I constantly lament how we were born a few decades too late. For everything
Born too late to explore the world, born too early to explore space. Born just in time to explore Dank memes.
Truly, a time to be alive.
Cause and effect
Gasoline is relatively cheap.
Just saying…
I don’t think it’s good to have such wealth inequality, but I do this general investment into the stock market should be encouraged.
401ks are so much better than pensions as a retirement vehicle. Better return on investment and more financial separation from the company I work for. I never worry about someone raiding the pension fund or a company going bankrupt, and I’ve received much better return on investments than the numbers you hear from pension funds! That’s not even considering 401k matching…
Ok rich person, or it will be owned only by a tiny few and collapse bc of it.
Your comment makes no sense. Try replying to what I wrote please.
Tax stock over 100,000 shares 1% per current price, per stock, per quarter.
Guillotine anyone who tries to buy a yacht or private jet.
I’m shook!
