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While I agree there is no legal barrier to market entry, there is an underlying issue at play that has merit. People should buy stocks with money they can afford to lose. I've known several people that catch a break or get a small bonus and they'll ask me....I have $2000 that I don't need to spend, I want to invest it for 10 months. How much can I get....
They're just hitting the point of temporary surplus. They'll need the money again. It's not in their best interests to invest because that $2000 could be $1600 when they need the money back. According to Murphy, that will be nudged right between two weeks where it was at $2200.
So it is hard for someone who's basically at their earning potential, and maybe their surplus is $25 a week. It's easy to see how the saving isn't getting them anywhere. Easy to rationalize how they'll never be the rich aunt, but could remember to buy a little one a present.
I've got a relative that's a lifer at a non-union grocery store. What's awesome about this store is that they give all of their employees a retirement contribution regardless of the employees putting anything in, and it's % wise, a decent amount. They also have an additional match. When they first put it in, she said her colleagues mostly didn't trust it, but of course they'd take free money, so they had to go through the exercise of saying where they wanted it allocated. The most popular option was cash holdings. She didn't know, so she put it all in the first fund listed. The next year she put it in the second one listed. Finally by year 4 she wanted someone to look because she said....I really have no idea what these are. So I just try them to see how they work. I'm sure I'm doing it wrong...please look.
Lucky for her, the first ones were different stock funds appropriate for her age. And they started growing. And since everyone knew what the company paid in, they'd compare...and her amounts were bigger...plus she could get more.
Suddenly that extra $25 has a place to go where it WILL matter. Forced involvement forced her to seek advice on how to do it. As she saw the rewards of investing and the balance getting bigger, she got excited, as we all do and she got motivated to try and capture the entire match amount.
Now I doubt she's going to have a balance when she retires that will shock and awe the world....she'll never be in the 10%....but she'll have enough, because her consumption is very low. She won't need a million dollars to retire.
At any rate, while I'm usually conservative sounding on this board, but there's a very real way employers can help their employees start saving. The important number here is hopefully 80% of Americans have retirement plan assets of some kind. Hopefully we don't lose too many in the market gyrations to come.
I presume she doesn't live in a place where rents are going up 10% per year.
The NYT is neither given to hysteria nor clickbait BS (playground namecalling by the orangutan-in-chief notwithstanding).
Inaccurate.
Besides turning an economics thread into political BASHING, you may not know about the NYT.
Not only do they have paywalls now, but they've been accused of clickbait so many times they even addressed it in their new "Reader's Center" designed to rehabilitate their negative image.
All written decades after her fiction, just like the encyclopedias of Middle Earth. Nothing like getting drunk on your own Kool-Aid, eh?
You're a good parrot. But only mediocre at regurgitating the envious vomit of the other haters. Call me when you have some cogent and reasoned critique of your own.
Before making fools of them, you might want to familiarize yourself with her non-fiction. I'd start with Introduction to Objectivist Epistemology. That will help you understand how you lost every argument with those rocks that you'd thought you won.
Bada Bing! Knowing and understanding a particular ideology doesn't mean that you need to embrace it.
|I wonder if a certain poster will disagree with my next Rand quote or if they will embrace it?
The gist of the New York Times article is that the stock market decline won't have a big effect on the economy and the average person should ignore the decline because they have little stake in its swings, either economically or financially. It has nothing to do with the personal situation as many retirees and 10-percenters rely on realized gains for income.
And some are harmed when the wealth effect of others causes rents to necessarily skyrocket.
Many of us have tried to offer suggestions that you don't seem to embrace.
|Perhaps these words can inspire you to aspire:
Quote:
“Do not let your fire go out, spark by irreplaceable spark in the hopeless swamps of the not-quite, the not-yet, and the not-at-all. Do not let the hero in your soul perish in lonely frustration for the life you deserved and have never been able to reach. The world you desire can be won. It exists.. it is real.. it is possible.. it's yours.”
|Is this one pretentious BS or might you agree?
Ayn Rand
Wonder how she would stand on the estate tax?
Ayn Rand would be against the estate tax. A person's wealth is private property. The right to private property means the right to use and dispose of said property. Upon death, a person's property should be disposed of according to his wishes. If no wished are expressed, there is established law to deal with disposition.
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