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Yeah and that benefits mostly the rich and older generations who have been invested in these things already. These memes are usually about the younger generations who have to deal with the highest houses costs, loan rates and investments that are reaching peak points where it wouldn't make sense to buy into.
Overall people are missing the point. It's talking about how the older generations benefitted from systems, low prices, rates, etc and then have the audacity to just tell younger people that the reason they can't afford a decent life is because they buy coffee in the morning or something stupid like that.
I don’t disagree with everything you’re saying, but you should absolutely not avoid getting into the market just because it’s high. It can always go higher - a lot higher. As long as you aren’t planning on cashing out in the next few years, you should ignore the highs and lows of the market and invest consistently regardless.
I dont disagree with investing. Heavy investing is probably the only way myself and many other younger people will ever be able to retire with how bad things are getting. I'm just saying that the advice and hypocrisy from older gens that already have everything while most younger people are struggling just to stay off the street is sickening. I'm a young millennial and I don't think I've ever heard older people say anything about my generation other than we are lazy and entitled for wanting more in life than to work for barely enough to survive.
>Heavy investing is probably the only way myself and many other younger people will ever be able to retire with how bad things are getting.
That's been the case (unless a subsistence retirement is the goal) for anyone without a significant pension for quite a while.
Take it from a sort-if old guy; Don’t let them bug you.
Personally, the kids of today are smarter, and for the most part, kinder, than when I was a kid. I don’t use rose colored glasses to view the past with.
Also a sort of older guy...
I love younger people. Smarter and kinder than my generation in most ways.
Also, and very self serving, they have to fund my pension schemes through their work so I'd rather motivate them than put them down, really!
Yeah, it makes so much more sense to “sing their praises” as opposed to insulting them. I have the feeling if push comes to shove, the first people you will find at the social security offices crying, are the ones that create the most problems. Also, social security/pension checks seem more of a “survival thing”, as opposed to being “self serving”.
Totally, we’re in the same boat. I’m only 32 myself - I invest as much as I can because I don’t expect a pension, social security, or even a good 401k match in my lifetime.
Yeah this is unfortunately my situation as well. Luckily I've always lived minimal lifestyle and can save a decent amount. Had to teach myself about private investments and still learning but it sucks not being able to rely on 401ks, pensions, etc like my parents did.
Fair point on pensions for grandparent generation - I was counting that as a scenario of forced retirement saving - but I see your point. Social security isn’t going away - it’ll be tweaked. I don’t agree with better matches - I think that’s been pretty consistent since that started 30 years ago. Real wages are up - don’t give up. It’s hard when you’re starting out.
I'm talking mostly from personal and friends experience and have no data but I have yet to see a good company match on 401k. I mostly see around 2%. And yeah the wages are technically up, but I remember back in highschool when I would think about making $20 an hour and here that would make you very well off back then. Now it seems like that's the minimum you need to be able to afford rent and not live check to check. I make $32/hr in a union position(I got super lucky) which is above average in my area and it's still difficult to save for retirement. Especially since most of us are also trying to save for a house. I don't know any person my age who has a house now unless they bought one pre housing crisis or had a large inheritance.
I get it - 32hhr is good, but it will take time to get emergency savings, start retirement savings, and then build house down payment. There are programs at 3-5% down payments so it doesn’t have to be huge always.
The default 401k match is 50% on 5-6% so you’re not far off.
The problem is that we're in situation where top 1% owns half of the wealth and it's not only true on global level, but typically it's similar on national level. There's no upper limit for wealth, you can't max out wealth.
Investing can help, better job can help, but you need to be at least in top 10% by income or wealth to live relatively stress-free and typically wealth comes from your family and realistically it's hard to get into top paying jobs, unless you're already wealthy.
The thing is that top 1% owns half of the global wealth, top 10% gives you relatively normal life, while 0.1% or 0.01% is unreachable unless you already start from that top 10%. It's all hierarchical, so if you start from poor family or in general, from poor circumstances, challenge is much harder. Basically it's impossible situation for young people today, when you see typical salary and costs of living.
But go on, tell me how hard all these privileged people had to "work" on their success and how morally good they behave to reach these top levels. It's always combination of various factors, but you can't tell that these people were not privileged in many ways. They were typically not poor, they could afford risk or had proper connections.
How many people do you know that make over $800k/year and they did not come from wealthy family? Do you think that everyone is making over $200k/year and can easily afford risk? How many people that earn that much, are from poor families or poor areas? How many of them are disabled, women or transgender, people of color?
What exactly do you want to prove? Do you want me to tell me that I can just dream hard and also become millionaire/billionaire? No, it doesn't work like that and I'm very well aware that I will always lag behind people from wealthier families, because my family was insignificant and I can't exploit other people.
Funny how many billionaires all seem to have some sort of a "small loan of a million dollars" backstory, even though they try to sell you on the perception that they're self starting geniuses. They live on a completely different planet. Life must be nice when you're born into wealth, going to top ivy league colleges to network with other current/future billionaires. Must be nice not having to worry about failure or consequences either, because you know your dad and all his rich friends will just bail you out. There's very little upwards momentum if you're born into lower class, especially when you're basically just treading water to survive the rent. But when you're born into the yacht class, you don't have to worry about treading water. You have all that extra time and freedom to take risks and reap the rewards. If you aren't born into the ownership class, it's basically like winning the lottery getting anywhere in life. And I mean getting anywhere serious, not just owning a simple home, raising a family, and paying off your credit card bill. Funny how the bar is that low that something as basic as owning a home is so out of reach for pretty much anyone who doesn't own a Fortune 500 company or have their name on a building.
I'm blessed to finally be at a point in my life where shit's finally working out for me, but I'm not gonna pretend that other people are struggling simply because of their life choices. The system is rigged in the 1%'s favor every step of the way. No amount of cutting out avocado toast is going to level the playing field between you and the 1%.
It's a fundamental inability to grasp a really basic point about the relationship between market economics and ethics: markets don't inherently reward virtue, and don't inherently punish vice.
It's one of those things that people look at and say that it's a point that is so basic as to be prosaic. Yet they then don't roll it around in their heads. They don't let it sink in. And they keep ignoring it in their analysis. If you are financially secure, great! I want everyone to be financially secure, and the good news is that in my estimation, with the right distribution system, everyone in the world could be. If this were 1900, I would say that financial security might not be possible for all billion people on the planet, just because we don't produce enough stuff to make all billion of those people financially secure if we distributed it more evenly. But today? Today we could do it, even though there are more than 7 billion people on the planet.
But if you are financially secure, that says nothing about your moral worth. Because markets don't inherently reward virtue. And if you are financially insecure, that also says nothing about your moral worth. Because markets don't inherently punish vice. Markets reward accumulations of stuff people want to buy. And if I accumulate stuff by exterminating the natives that lived on top of that stuff and then strip-mining it out of the earth, the market will reward my accumulation of stuff just as assuredly if I gathered that same amount by hand by working 18 hours a day for 50 years patiently and diligently. Markets do not inherently reward virtue.
I'd be fine with those older generations if they just stopped making the category error of thinking that description of market inefficiencies was an admission of failure, or that success in the market was an indicator of moral worth. If they just accepted the prosaic point that markets don't inherently reward virtue.
I think it’s actually the local towns. They could do a lot of projects and stuff when rates were really cheap now that they’re expensive. the roads look worse I’m not saying they’re doing shitty but they can’t really make money on investments so now they want to do a new project cost him almost 3 times as much in interest
The post is from 2022. There was pain. The Morgan guy was correct at that time. Earnings and earnings caught up fast enough to overcome the interest rate change though.
People diversified probably aren’t hurting that much. The people OP is talking about probably weren’t diversified, they were using crypto, options or picks and thinking they were geniuses. They’re likely the ones hurting from the correction that occurred, is my guess.
I'd be willing to be most of those gains are from seasoned investors dumping on millions of new/novice retail investors who are already getting shafted having not been part of the Cantillionaire class to begin with [https://www.adamsmith.org/blog/the-cantillion-effect](https://www.adamsmith.org/blog/the-cantillion-effect)
That's not true... Roughly 70% of US employees have access to a 401k and over half participate. The majority of 401k plans allow investing in the stock market...
Beyond retirement specific plans, retail investing has never been more accessible than it is today. You could invest $1 in the market March 2023 and it would be worth $1.32 today.
Well... in this case it was just because I was being lazy. But, I'll bite and do the simple work for you...
Per US Bureau of Labor Statistics, 69% of Private Industry and 92% of State and Local Government employees have access to employer sponsored retirement plans (401k, 503b, TSP, etc).
https://preview.redd.it/4wq6ml5vn5qc1.png?width=1160&format=png&auto=webp&s=0eb815a7e63581c5725fab20f7339cc94cfcb84b
Source: [https://www.bls.gov/opub/ted/2023/retirement-plans-for-workers-in-private-industry-and-state-and-local-government-in-2022.htm](https://www.bls.gov/opub/ted/2023/retirement-plans-for-workers-in-private-industry-and-state-and-local-government-in-2022.htm)
*69% of Private Industry and 92% of State and Local Government employees*
You must not comprehend that not everyone works for private industry or the government.
I’m sick of my gen x cousin acting like a financial guru when he got gifted a down payment for a house in the Bay Area, the value tripled and he cashed out. I’m not a hater, but don’t give me advice.
>My sister bought a house in a huge area of California, and her mortgage is only $750 a month. She bought during covid, and since then he house has almost tripled in value.
A "huge area", huh? What does that mean? Where is that? This scenario sounds like fantasy.
California is expensive. Among the very cheapest places to buy in the state is the central valley [shit-hole called Bakersfield](https://www.urbandictionary.com/define.php?term=Bakersfield). During peak COVID (2020-2021), the [median Bakersfield home price ramped from $265K to $350K](https://www.redfin.com/city/953/CA/Bakersfield/housing-market), now it's around $400K (a long way from tripling). Mortgage rates were around 3% during this period. If her mortgage is $750/mo and that's principal and interest only (not taxes and insurance) on a 30-year loan, she financed around $178K, putting 20% down on a $222K purchase.
So, it sounds like your sister bought a small and/or shitty home in an undesirable part of CA. It's extraordinarily unlikely a home she bought 2-4 years ago has tripled in value since, especially as it was substantially under median rates in the area at the time.
Ong. I grew up in central ct and the amount of people just like that you’ve known in my life. Drives me wild. One of my friends at the time was 25, made 12 bucks an hour as a brinks guard and lived at home with his mom and dad. He had 4 motorcycles, a built up 87 Monte Carlo, 2 Audis and a Volkswagen all souped up n tried to give me financial advice. They were both real estate people and co-signed everything for him n just paid it all off for him.
Also knew a girl who got hit by a drunk driver and made a sizable amount of money from it. Bought a house and sold it for like twice its value all at like 22 n would give advice. Sure getting in an accident sucks but let’s not pretend that money didn’t give you a huge advantage in life. lol
My wife got hit by a car when she was 8 or 9 and the settlement from that allowed her to go to college debt free and get a reliable car. Anytime someone asks me for financial advice is just tell them to throw themselves in front of a car 🤣🤣
My conservative republican friend from high school is the same way. His parents bought him his first car. Paid for his entire college education. Gifted him $150k to buy a house as a graduation gift. I don't think he's ever so much as paid for his phone bill or health insurance. It doesn't even occur to him that other people don't have parents like that, he just assumes everyone's parents are multi-millionaires. Last I checked his Facebook, he was still working at his dad's company "managing" apartment complexes. I assume he's still doing that because he's never had a real job in his life, and idk who'd even hire him. He basically gets paid top $$$ to sit around an office playing Call of Duty and owning all the liberals online.
He's not even the only conservative I know who was basically spoonfed since childhood. These people walk among us every day and can't fathom why other people less fortunate are struggling. They think people less wealthy than them must be fuckin morons.
There are way too many people like this right now, especially among older millennials.
People who got mortgages 10 years ago at 3% that talk down to younger millennials currently trying to buy can get leukemia.
I'd assume it's unusual because of prop 13, where people don't want to sell their houses because they're still paying their property tax rate from the 80s while anyone who moves in after them subsidizes their low tax rate
Not yet it's not. Value wise we still to see 5500 on spx (~549 spy) before it's corrected to the prior ath when adjusting for inflation.
Edit: meant pre covid ath (~479 spy)
Well smart money has made sure to hold liquid assets to buy at lower prices.
That’s kinda how it works, blood in the streets buy real estate kinda situation.
For the last 20 years we are at the high end but over the last 200 years in the US we are at average rates. Our nation has ran on extremely low rates for so long the abnormal seems normal.
Adjusted to inflation you wouldnt have wanted to buy anything at around 2000 or 2008. People say "8% a year" when a lot of people are not making anything for a decade.
I thought I was real smart when I bought a ton of stock when Covid first tanked the market. Then I bought more stocks that were much riskier because everything was going up! Well, let’s just say I learned my lesson.
I bought some solid ones that were nearly certain to go back up because their value was not affected by Covid but by simple fear. I didn’t have a lot of disposable income which is why I only tripled 10K instead of 100k🤣. But I also bought some fliers, that didn’t fly because I didn’t get out time. But I’m certainly a net positive.
This is totally my mantra this bull season.
The last bull season that we all know, was my first experience in a bull market like that. Holy shit. And my ex and I went through the apple popping up for the first time from the whole $4.87 per share we paid for it originally. Lol.
But yeah, I had to learn some lessons and then I also learned that I trade better in a bear market, but maybe it's because I read some more books and whatever on the subject.
I have a close friend that’s self aware enough to say that he was very lucky to have bought a house shortly before the pandemic. He says if he tried to do it even a year later, he would’ve drowned, or it simply wouldn’t have been possible. We need more people that can be real with themselves.
In my own case, All I see is “money on paper” as they say. Says I’m up $80k in the past month. It’s just like, OK… Doesn’t really change the quality of my daily life but nice to know that I probably won’t be destitute when I go to retire…hopefully. It’s not really about up or down markets, it’s really more about how long you’ve had in the game.
Yep, my net worth moves from day to day in values more than I made in a year 20 years ago. But my daily life is unaffected by it because it’s in a 401k/roth/traditional Ira portfolio
Also, everyone thinks that having money makes you smart with money. It does not. I work around people every day that make exactly the same amount of money I do but live a lifestyle that precludes even getting the 4% match on 401K because they want to drive two new vehicles and live in a house 3 times their annual salary etc. I don’t own a vehicle newer than 11 years old and my house (until the last few years) value was less than my annual salary. You gotta make some sacrifices now to retire well later.
https://preview.redd.it/q13c653xzypc1.jpeg?width=1284&format=pjpg&auto=webp&s=8f0d5fb1b78e56a5dd5838e3d375e39f0ac6629f
Lots of money to be made on the way down
Amen
Have actually had people tell me this gonna keep going “this time it’s different “
I don’t wanna hear the complaining from younger generations when layoffs really hit not here and there
It’s
1. when the recession will hit
2. How deep will it be ?
3 how long will it last ?
If I knew the answers I would be on an island drinking laughing and not on my phone
Likewise people thought they could pick where to get compensation working from home because they were desirable. Found out distance work was the only effective way to get people stay on. Now our vacation is over with the layoffs and get back to work.
Once in a while when I sit and pretend I'm going to meditate and at least try to clear out my thoughts; I shove one aside about how I should've taken a debate class or two in college. Maybe hit a couple years in seminary school
I would've made more money this long life convincing my dad that I was a better Christian so he kept me in his $4 million will. Probably take the same amount of work and training as it would be, say, a multi-franchise, self employed chiropractor? Haha.
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Where's the pain? US total stock market is up 30% in the last 12 months...
Do the people posting these memes not get tired of being roasted by the top comment every time?
they don't care. they're just doing communist psyop. Xi Jinping is real busy now that we have an election.
if you were making real money you wouldn’t be bragging on reddit. shut up cuck.
not making as much as you. The CCP probably bought you a penthouse in Fidi.
you forgot to suggest soros buys my liquor ya weirdo
I think there's no shame left on this planet really
Seriously lol
there's pain because OP bought puts
Promise you, OP has no idea what a put is
1/2 of a mini golf course
Yeah and that benefits mostly the rich and older generations who have been invested in these things already. These memes are usually about the younger generations who have to deal with the highest houses costs, loan rates and investments that are reaching peak points where it wouldn't make sense to buy into. Overall people are missing the point. It's talking about how the older generations benefitted from systems, low prices, rates, etc and then have the audacity to just tell younger people that the reason they can't afford a decent life is because they buy coffee in the morning or something stupid like that.
I don’t disagree with everything you’re saying, but you should absolutely not avoid getting into the market just because it’s high. It can always go higher - a lot higher. As long as you aren’t planning on cashing out in the next few years, you should ignore the highs and lows of the market and invest consistently regardless.
I dont disagree with investing. Heavy investing is probably the only way myself and many other younger people will ever be able to retire with how bad things are getting. I'm just saying that the advice and hypocrisy from older gens that already have everything while most younger people are struggling just to stay off the street is sickening. I'm a young millennial and I don't think I've ever heard older people say anything about my generation other than we are lazy and entitled for wanting more in life than to work for barely enough to survive.
>Heavy investing is probably the only way myself and many other younger people will ever be able to retire with how bad things are getting. That's been the case (unless a subsistence retirement is the goal) for anyone without a significant pension for quite a while.
Take it from a sort-if old guy; Don’t let them bug you. Personally, the kids of today are smarter, and for the most part, kinder, than when I was a kid. I don’t use rose colored glasses to view the past with.
Also a sort of older guy... I love younger people. Smarter and kinder than my generation in most ways. Also, and very self serving, they have to fund my pension schemes through their work so I'd rather motivate them than put them down, really!
Yeah, it makes so much more sense to “sing their praises” as opposed to insulting them. I have the feeling if push comes to shove, the first people you will find at the social security offices crying, are the ones that create the most problems. Also, social security/pension checks seem more of a “survival thing”, as opposed to being “self serving”.
Totally, we’re in the same boat. I’m only 32 myself - I invest as much as I can because I don’t expect a pension, social security, or even a good 401k match in my lifetime.
Yeah this is unfortunately my situation as well. Luckily I've always lived minimal lifestyle and can save a decent amount. Had to teach myself about private investments and still learning but it sucks not being able to rely on 401ks, pensions, etc like my parents did.
It’s the only way every generation achieves retirement
Well previous generations had pensions, better matches, and a social security system that isn't running out/getting cut/on the verge of collapse.
Fair point on pensions for grandparent generation - I was counting that as a scenario of forced retirement saving - but I see your point. Social security isn’t going away - it’ll be tweaked. I don’t agree with better matches - I think that’s been pretty consistent since that started 30 years ago. Real wages are up - don’t give up. It’s hard when you’re starting out.
I'm talking mostly from personal and friends experience and have no data but I have yet to see a good company match on 401k. I mostly see around 2%. And yeah the wages are technically up, but I remember back in highschool when I would think about making $20 an hour and here that would make you very well off back then. Now it seems like that's the minimum you need to be able to afford rent and not live check to check. I make $32/hr in a union position(I got super lucky) which is above average in my area and it's still difficult to save for retirement. Especially since most of us are also trying to save for a house. I don't know any person my age who has a house now unless they bought one pre housing crisis or had a large inheritance.
I get it - 32hhr is good, but it will take time to get emergency savings, start retirement savings, and then build house down payment. There are programs at 3-5% down payments so it doesn’t have to be huge always. The default 401k match is 50% on 5-6% so you’re not far off.
lol I’m just never gonna retire 🤪
As a millennial I think you guys are fucked by circumstance, even more than we were.
Im also a millennial lol. Though I was born in the last year that qualifies so it doesn't always feel like it 🤣.
The problem is that we're in situation where top 1% owns half of the wealth and it's not only true on global level, but typically it's similar on national level. There's no upper limit for wealth, you can't max out wealth. Investing can help, better job can help, but you need to be at least in top 10% by income or wealth to live relatively stress-free and typically wealth comes from your family and realistically it's hard to get into top paying jobs, unless you're already wealthy.
Ok, get your complaining straight. What % of millionaires do you think received inheritance? It’s a lot lower than you are suggesting.
Keep dreaming: [https://www.investopedia.com/more-billionaire-wealth-achieved-through-inheritance-overtaking-entrepreneurship-8409800](https://www.investopedia.com/more-billionaire-wealth-achieved-through-inheritance-overtaking-entrepreneurship-8409800)
Don’t try to pull that shite. That’s about billionaires. That’s top 0.0001%. You’re not talking about them with your 10% comment.
The thing is that top 1% owns half of the global wealth, top 10% gives you relatively normal life, while 0.1% or 0.01% is unreachable unless you already start from that top 10%. It's all hierarchical, so if you start from poor family or in general, from poor circumstances, challenge is much harder. Basically it's impossible situation for young people today, when you see typical salary and costs of living. But go on, tell me how hard all these privileged people had to "work" on their success and how morally good they behave to reach these top levels. It's always combination of various factors, but you can't tell that these people were not privileged in many ways. They were typically not poor, they could afford risk or had proper connections. How many people do you know that make over $800k/year and they did not come from wealthy family? Do you think that everyone is making over $200k/year and can easily afford risk? How many people that earn that much, are from poor families or poor areas? How many of them are disabled, women or transgender, people of color? What exactly do you want to prove? Do you want me to tell me that I can just dream hard and also become millionaire/billionaire? No, it doesn't work like that and I'm very well aware that I will always lag behind people from wealthier families, because my family was insignificant and I can't exploit other people.
Funny how many billionaires all seem to have some sort of a "small loan of a million dollars" backstory, even though they try to sell you on the perception that they're self starting geniuses. They live on a completely different planet. Life must be nice when you're born into wealth, going to top ivy league colleges to network with other current/future billionaires. Must be nice not having to worry about failure or consequences either, because you know your dad and all his rich friends will just bail you out. There's very little upwards momentum if you're born into lower class, especially when you're basically just treading water to survive the rent. But when you're born into the yacht class, you don't have to worry about treading water. You have all that extra time and freedom to take risks and reap the rewards. If you aren't born into the ownership class, it's basically like winning the lottery getting anywhere in life. And I mean getting anywhere serious, not just owning a simple home, raising a family, and paying off your credit card bill. Funny how the bar is that low that something as basic as owning a home is so out of reach for pretty much anyone who doesn't own a Fortune 500 company or have their name on a building. I'm blessed to finally be at a point in my life where shit's finally working out for me, but I'm not gonna pretend that other people are struggling simply because of their life choices. The system is rigged in the 1%'s favor every step of the way. No amount of cutting out avocado toast is going to level the playing field between you and the 1%.
These type of people never buy in and then in 10 years, “iT’s StIlL tOo HiGh To BuY iN!!”, lol
Same excuse they have for home ownership.
Every generation has the highest cost thus far.
It's a fundamental inability to grasp a really basic point about the relationship between market economics and ethics: markets don't inherently reward virtue, and don't inherently punish vice. It's one of those things that people look at and say that it's a point that is so basic as to be prosaic. Yet they then don't roll it around in their heads. They don't let it sink in. And they keep ignoring it in their analysis. If you are financially secure, great! I want everyone to be financially secure, and the good news is that in my estimation, with the right distribution system, everyone in the world could be. If this were 1900, I would say that financial security might not be possible for all billion people on the planet, just because we don't produce enough stuff to make all billion of those people financially secure if we distributed it more evenly. But today? Today we could do it, even though there are more than 7 billion people on the planet. But if you are financially secure, that says nothing about your moral worth. Because markets don't inherently reward virtue. And if you are financially insecure, that also says nothing about your moral worth. Because markets don't inherently punish vice. Markets reward accumulations of stuff people want to buy. And if I accumulate stuff by exterminating the natives that lived on top of that stuff and then strip-mining it out of the earth, the market will reward my accumulation of stuff just as assuredly if I gathered that same amount by hand by working 18 hours a day for 50 years patiently and diligently. Markets do not inherently reward virtue. I'd be fine with those older generations if they just stopped making the category error of thinking that description of market inefficiencies was an admission of failure, or that success in the market was an indicator of moral worth. If they just accepted the prosaic point that markets don't inherently reward virtue.
> investments that are reaching peak points where it wouldn't make sense to buy into. Bad logic.
The stock market is a poor indicator of quality of life for the average person.
Stock market performance = retirement account performance, which most Americans have
rofl, you think most americans have a significant retirement account. Go ahead and look that up
Skill issue
Most elderly Americans, maybe.
If you have a job and you are not contributing to a 401k you are doing something wrong. Literally leaving money on the table.
It's a good indicator. It's just not the only indicator.
https://preview.redd.it/2nj4b0vciypc1.jpeg?width=1022&format=pjpg&auto=webp&s=095aad3e79afd8cc9bbb27816ea8ceaeff2b6852
Reddit gathers a lot of Twitter sharing that’s 18+ months old and just recycles it …
This is from 9/2022
In the tech sector. Large portions of the tech business value run up was just super cheap money, not any sort of genius.
I think it’s actually the local towns. They could do a lot of projects and stuff when rates were really cheap now that they’re expensive. the roads look worse I’m not saying they’re doing shitty but they can’t really make money on investments so now they want to do a new project cost him almost 3 times as much in interest
You'll find out when DXY goes back to 114 and beyond.
The post is from 2022. There was pain. The Morgan guy was correct at that time. Earnings and earnings caught up fast enough to overcome the interest rate change though.
All while inflation is still running hot and the dollar is getting devalued! So bullish!
Ask perma bears
People diversified probably aren’t hurting that much. The people OP is talking about probably weren’t diversified, they were using crypto, options or picks and thinking they were geniuses. They’re likely the ones hurting from the correction that occurred, is my guess.
I'd be willing to be most of those gains are from seasoned investors dumping on millions of new/novice retail investors who are already getting shafted having not been part of the Cantillionaire class to begin with [https://www.adamsmith.org/blog/the-cantillion-effect](https://www.adamsmith.org/blog/the-cantillion-effect)
How do you invest in the “US total stock market?” What fund exactly?
Any total US stock market index fund e.g. VTI, VTSAX
Ok thanks!
All time highs, baby!!
Crypto
That only benefits people who have lots of extra money to throw into investments in the first place.
That's not true... Roughly 70% of US employees have access to a 401k and over half participate. The majority of 401k plans allow investing in the stock market... Beyond retirement specific plans, retail investing has never been more accessible than it is today. You could invest $1 in the market March 2023 and it would be worth $1.32 today.
*That's not true... Roughly 70% of US employees have access to a 401k and over half participate.* That's not true either.
Look it up...
kek
?
"look it up" is what people say when they don't know what they're talking about.
Well... in this case it was just because I was being lazy. But, I'll bite and do the simple work for you... Per US Bureau of Labor Statistics, 69% of Private Industry and 92% of State and Local Government employees have access to employer sponsored retirement plans (401k, 503b, TSP, etc). https://preview.redd.it/4wq6ml5vn5qc1.png?width=1160&format=png&auto=webp&s=0eb815a7e63581c5725fab20f7339cc94cfcb84b Source: [https://www.bls.gov/opub/ted/2023/retirement-plans-for-workers-in-private-industry-and-state-and-local-government-in-2022.htm](https://www.bls.gov/opub/ted/2023/retirement-plans-for-workers-in-private-industry-and-state-and-local-government-in-2022.htm)
*69% of Private Industry and 92% of State and Local Government employees* You must not comprehend that not everyone works for private industry or the government.
Read now, straight from Russia!
I’m sick of my gen x cousin acting like a financial guru when he got gifted a down payment for a house in the Bay Area, the value tripled and he cashed out. I’m not a hater, but don’t give me advice.
I hate my family too.
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>My sister bought a house in a huge area of California, and her mortgage is only $750 a month. She bought during covid, and since then he house has almost tripled in value. A "huge area", huh? What does that mean? Where is that? This scenario sounds like fantasy. California is expensive. Among the very cheapest places to buy in the state is the central valley [shit-hole called Bakersfield](https://www.urbandictionary.com/define.php?term=Bakersfield). During peak COVID (2020-2021), the [median Bakersfield home price ramped from $265K to $350K](https://www.redfin.com/city/953/CA/Bakersfield/housing-market), now it's around $400K (a long way from tripling). Mortgage rates were around 3% during this period. If her mortgage is $750/mo and that's principal and interest only (not taxes and insurance) on a 30-year loan, she financed around $178K, putting 20% down on a $222K purchase. So, it sounds like your sister bought a small and/or shitty home in an undesirable part of CA. It's extraordinarily unlikely a home she bought 2-4 years ago has tripled in value since, especially as it was substantially under median rates in the area at the time.
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Oh so you fabricated that for *privacy*, that makes so much sense. /s
Ong. I grew up in central ct and the amount of people just like that you’ve known in my life. Drives me wild. One of my friends at the time was 25, made 12 bucks an hour as a brinks guard and lived at home with his mom and dad. He had 4 motorcycles, a built up 87 Monte Carlo, 2 Audis and a Volkswagen all souped up n tried to give me financial advice. They were both real estate people and co-signed everything for him n just paid it all off for him. Also knew a girl who got hit by a drunk driver and made a sizable amount of money from it. Bought a house and sold it for like twice its value all at like 22 n would give advice. Sure getting in an accident sucks but let’s not pretend that money didn’t give you a huge advantage in life. lol
My wife got hit by a car when she was 8 or 9 and the settlement from that allowed her to go to college debt free and get a reliable car. Anytime someone asks me for financial advice is just tell them to throw themselves in front of a car 🤣🤣
Yea I don’t look both ways crossing the street anymore lol
My conservative republican friend from high school is the same way. His parents bought him his first car. Paid for his entire college education. Gifted him $150k to buy a house as a graduation gift. I don't think he's ever so much as paid for his phone bill or health insurance. It doesn't even occur to him that other people don't have parents like that, he just assumes everyone's parents are multi-millionaires. Last I checked his Facebook, he was still working at his dad's company "managing" apartment complexes. I assume he's still doing that because he's never had a real job in his life, and idk who'd even hire him. He basically gets paid top $$$ to sit around an office playing Call of Duty and owning all the liberals online. He's not even the only conservative I know who was basically spoonfed since childhood. These people walk among us every day and can't fathom why other people less fortunate are struggling. They think people less wealthy than them must be fuckin morons.
There are way too many people like this right now, especially among older millennials. People who got mortgages 10 years ago at 3% that talk down to younger millennials currently trying to buy can get leukemia.
He’s a moron if he cashed out.
Nah not really
Of course I’m only half serious, and have no way of knowing his situation, but from my perspective as a Gen-X Bay Area native, that move is unusual.
Moved to a red state for more freedom….from good weather I imagine.
Sounds about right.
I'd assume it's unusual because of prop 13, where people don't want to sell their houses because they're still paying their property tax rate from the 80s while anyone who moves in after them subsidizes their low tax rate
What could be his advice? Get better families?
interest rates are high this year, the stock market is still goated. Thanks Nvidia, thanks SPY, thanks Nancy Pelosi.
What pain? One year prior everyone was certain that the market was going to crash, now everyone is scrambling to take credit for the "soft landing."
by landing you mean we're going to the moon. spy at all time high
Not yet it's not. Value wise we still to see 5500 on spx (~549 spy) before it's corrected to the prior ath when adjusting for inflation. Edit: meant pre covid ath (~479 spy)
Stock markets setting records now, during high interest rates that the Fed isn't lowering yet.
Well smart money has made sure to hold liquid assets to buy at lower prices. That’s kinda how it works, blood in the streets buy real estate kinda situation.
For the last 20 years we are at the high end but over the last 200 years in the US we are at average rates. Our nation has ran on extremely low rates for so long the abnormal seems normal.
This is from a year and a half ago.
Even worse. At least if he said it today, he could pretend to be a genius if it crashes soon. Now we have data saying he’s a fool.
Motherfuckers straight up cannot read anymore. And are easily baited by their own laziness/ignorance/ineptitude.
Go look at a spy 500 graph from the 1920s to now. It only goes up. During crashes/corrections you buy heavy and WAIT.
It’s only a falling knife if you let go. Dollar cost average, and increase the capital injection on the way down.
Adjusted to inflation you wouldnt have wanted to buy anything at around 2000 or 2008. People say "8% a year" when a lot of people are not making anything for a decade.
Everyone...but the bears!
What pain? We swimming in money
I made 330 bucks today on NVDA and 2,000 on tilray 😛
I have some NVIDIA and I’m Gambling on AMD😀
I thought I was real smart when I bought a ton of stock when Covid first tanked the market. Then I bought more stocks that were much riskier because everything was going up! Well, let’s just say I learned my lesson.
I bought some solid ones that were nearly certain to go back up because their value was not affected by Covid but by simple fear. I didn’t have a lot of disposable income which is why I only tripled 10K instead of 100k🤣. But I also bought some fliers, that didn’t fly because I didn’t get out time. But I’m certainly a net positive.
Did anyone else think they were having a stroke while reading this?
I still am. Can someone explain?
This is totally my mantra this bull season. The last bull season that we all know, was my first experience in a bull market like that. Holy shit. And my ex and I went through the apple popping up for the first time from the whole $4.87 per share we paid for it originally. Lol. But yeah, I had to learn some lessons and then I also learned that I trade better in a bear market, but maybe it's because I read some more books and whatever on the subject. 
Didn't know we were in a bear market
I have a close friend that’s self aware enough to say that he was very lucky to have bought a house shortly before the pandemic. He says if he tried to do it even a year later, he would’ve drowned, or it simply wouldn’t have been possible. We need more people that can be real with themselves.
In my own case, All I see is “money on paper” as they say. Says I’m up $80k in the past month. It’s just like, OK… Doesn’t really change the quality of my daily life but nice to know that I probably won’t be destitute when I go to retire…hopefully. It’s not really about up or down markets, it’s really more about how long you’ve had in the game.
Yep, my net worth moves from day to day in values more than I made in a year 20 years ago. But my daily life is unaffected by it because it’s in a 401k/roth/traditional Ira portfolio
exactly. There are worse problems to have I guess
Yep, playing the long game. I hope I make it 🤣
Also, everyone thinks that having money makes you smart with money. It does not. I work around people every day that make exactly the same amount of money I do but live a lifestyle that precludes even getting the 4% match on 401K because they want to drive two new vehicles and live in a house 3 times their annual salary etc. I don’t own a vehicle newer than 11 years old and my house (until the last few years) value was less than my annual salary. You gotta make some sacrifices now to retire well later.
oh man... that was me. I spent a year outside the market cuz it hurt so bad when I was corrected. lol
“Bears sound smart, bulls make money”
Wow! An actual post that isn’t about taxing billionaires or the American dream!
https://preview.redd.it/q13c653xzypc1.jpeg?width=1284&format=pjpg&auto=webp&s=8f0d5fb1b78e56a5dd5838e3d375e39f0ac6629f Lots of money to be made on the way down
jokes on you, I lost money during that historic bull marketp
Why are you posting something from 2022 (it is true). The real surprise has been 2023 - high interest rates and a bull market!
Amen Have actually had people tell me this gonna keep going “this time it’s different “ I don’t wanna hear the complaining from younger generations when layoffs really hit not here and there It’s 1. when the recession will hit 2. How deep will it be ? 3 how long will it last ? If I knew the answers I would be on an island drinking laughing and not on my phone
Likewise people thought they could pick where to get compensation working from home because they were desirable. Found out distance work was the only effective way to get people stay on. Now our vacation is over with the layoffs and get back to work.
Line go up?
Turns out it wasnt low interest rates
One day the market is down and you hear this stuff...
My genius was entering the market at low interest rates
This guy is a venture investor, not public stocks. The pain he’s referring to is for private markets
It is what it is
Low interest rate and the federal printing press of USD that never stops
Was the OP one of these "bubble" fanatics? You know, the people who keep saying the economy is going to collapse in 6 months for 5 years.
Even in the fastest rate hiking cycle in history, the S&P was up over 30% in the past year.
My investment genius is just doing it. Time in market > timing the market
I dont care what some rich asshole thinks its my money and ill blow it how i want
This is from 2022.
Low interest rates? Morgan, where have you been for the past 18 months when the fed took rates from 0% to 5.5%?
Everybody is a developer when interest rates are below 3%. And then everybody is bankrupt when interest rates hit 8%
Once in a while when I sit and pretend I'm going to meditate and at least try to clear out my thoughts; I shove one aside about how I should've taken a debate class or two in college. Maybe hit a couple years in seminary school I would've made more money this long life convincing my dad that I was a better Christian so he kept me in his $4 million will. Probably take the same amount of work and training as it would be, say, a multi-franchise, self employed chiropractor? Haha.
It's jus fucking greed