"A Rising Tide Lifts All Boats" (interest, financial, income)

[freemkt]

Please explain. How does a rising economic tide lift the boats of, say, burger flippers or retired rent serfs living on Social Security?

[Thatsright19]

It opens up more opportunity for them at the next level to acquire a job that takes more skill.

And if someone gets to social security age with no other passive income streams and without owning a home, then I guess they have to face the consequence of rent adjusting to market each year.

[mathjak107]

nothing can make up for someone who commits financial suicide

[lieqiang]

Originally Posted by Thatsright19

It opens up more opportunity for them at the next level to acquire a job that takes more skill.

Yep, exactly this. A good economy creates more opportunities for people without much education or skill set.

Of course they have to be willing to make the effort instead of make excuses.

[freemkt]

Originally Posted by Thatsright19

It opens up more opportunity for them at the next level to acquire a job that takes more skill.

And if someone gets to social security age with no other passive income streams and without owning a home, then I guess they have to face the consequence of rent adjusting to market each year.

So then you acknowledge that it is more accurate to say "A rising tide lifts all RENTS"?

[freemkt]

Originally Posted by mathjak107

nothing can make up for someone who commits financial suicide

Those boats don't count?

[freemkt]

Originally Posted by lieqiang

Yep, exactly this. A good economy creates more opportunities for people without much education or skill set.

Of course they have to be willing to make the effort instead of make excuses.

What opportunity is opened up for an old retired person with no assets and no discretionary income?

[jonesg]

Originally Posted by freemkt

What opportunity is opened up for an old retired person with no assets and no discretionary income?

I'm old and retired, I'm not looking for opportunity. I have SS , nothing else.
I don't want work and I live within my means.

[jonesg]

Originally Posted by freemkt

Please explain. How does a rising economic tide lift the boats of, say, burger flippers or retired rent serfs living on Social Security?

If you need it explaining you have no interest in knowing because its THAT obvious.

[mathjak107]

Originally Posted by freemkt

Those boats don't count?

no , they have big holes in them and nothing can float them .