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There is a slant towards control risk and keeping everything in the stock market, not taking risks and starting your own company. In fact there are many that will tell you to avoid even workings in a small business as that is risky. Although it is not just on this board but seems to permeate throughout the entire country these days. I personally find it fascinating considering all the anti-corporate and anti-government rhetoric, while people put their money into mutual funds that invest in these same corporations and they insist on working for these corporations.
LOL yep, rant against big corporations, support increased taxes and regulations and with their hard earned money invest in those companies.
It's like the cd member who rents and posted ... "tax the hell out of landlords" LOL.
I don't consider passive investing as "keeping everything in the stock market". It actually offers more diversification than simply "investing in yourself". If all of your assets are tied up in a single entrepreneurial venture, all of your assets are at risk in a single enterprise. No matter how well-managed, or how bulletproof you think your business model is, ANY single enterprise can go south. Is mitigating risk a bad thing?
By investing separately from your career, you diversify away a lot of that risk. We also invested in ourselves with years of work and education, leading to high-income careers. Separately, we're also heavily invested in the market (index funds). Additionally, we invested in real estate, which provides another opportunity to build wealth and generate income. Putting all your eggs in just the "invest in yourself" basket would leave many people financially vulnerable. They say that 80% of new businesses fail in the first 18 months. I'm impressed by people that can make it work, but is it any surprise that most people would want to steer clear?
When you pay to go to college you are investing in yourself. The difference is you are learning skills to work for someone else.
You are assuming that business owners don't also invest in other assets. Why do you assume that?
i have found that friends and family who started making more than me drifted away into another class of society and people-mingling. i certainly didn't want to feel like a 2nd class citizen when near them so i walked away too. this has always been the common theme i noticed since i was 17.
i have found that friends and family who started making more than me drifted away into another class of society and people-mingling. i certainly didn't want to feel like a 2nd class citizen when near them so i walked away too. this has always been the common theme i noticed since i was 17.
It's not that they do it purposely but really... can you see a socialist hanging out with a capitalist? The conversation would be boring for both.
It makes sense that if you hang out and spend a lot of time with drug addicts , you'll become a drug addict .
If you hang out with successful or wealthy people you would be more likely to be successful or wealthy.
I think it's something a lot of people don't think about consciously.
I've learned this lesson recently. With someone that I thought had my best interests at heart and that I knew for a long time...but then realized that they were actually doing more harm than good and actually going out of their way to create drama and problems.
In the past I have distanced myself from certain people if I realized that the relationship was unhealthy and that person was toxic.
It makes sense that if you hang out and spend a lot of time with drug addicts , you'll become a drug addict .
If you hang out with successful or wealthy people you would be more likely to be successful or wealthy.
I think it's something a lot of people don't think about consciously.
I've learned this lesson recently. With someone that I thought had my best interests at heart and that I knew for a long time...but then realized that they were actually doing more harm than good and actually going out of their way to create drama and problems.
In the past I have distanced myself from certain people if I realized that the relationship was unhealthy and that person was toxic.
Yes, this is true. It also applies to health and healthy lifestyle habits and was documented in the book The Longevity Project.
The casinos are full of people who could have been millionaires if they would have put all that money in the stock market instead of the slot machines.
DIALOGUE BETWEEN A LADY INTERVIEWER AND A MALE BEER DRINKER:
Lady Interviewer: Do you drink every day?
Man: Yes.
Lady Interviewer: How much a day?
Man: Around 3 six-packs starting at noon.
Lady Interviewer: How much does a 6-pack cost?
Man: Roughly $10.00 at a deli.
Lady Interviewer: And how long have you been drinking like that?
Man: About 15 years.
Lady Interviewer:
So with a six-pack costing $10.00, and you consuming 3 six-packs a day, you are spending roughly $900 each month. In one year, you would then be spending $10,800, correct?
Man: I guess so.
Lady Interviewer: If in 1 year you spend $10,800 on beer, not accounting for inflation, 15 years puts your spending roughly $162,000; correct?
Man: Uh, wow... yeah, I guess so.
Lady Interviewer: Did it ever occur to you that if you did not drink for the last 15 years, you could have bought a Ferrari?
Me: I don't want or need one. I have enough invested that I am much less dependent on the vicissitudes of the job market. The financial security and much lower stress are worth much more than a stupid car to me.
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