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persons who already had substantial investment in the market 20 years ago, and were counting on strong portfolio-appreciation thenceforth, will have been disappointed. This is assuming "good" investor behavior, riding-out the the bear-markets and remaining invested at all times.
I was a person who already had substantial investments in the market 20 years ago. I had pretty good (but by no means perfect) investor behaviour. I rode out the vagaries of the market, performing simple tax-loss harvesting, portfolio rebalancing and the like.
I'm not disappointed.
Quote:
Originally Posted by ohio_peasant
Let me ask a different question. To the people who have recovered from their various travails, and now are sitting on say $200K.... do you expect this $200K to become $400K in the year 2039? $1M? $10M?
My personal guess is $200K will turn into about $440K in 2039, measured in today's dollars (real dollars, not nominal).
At the same time, the political climate can have a pretty big impact on the next 20 years' economy. If we return to anti-business, anti-growth economic policies coupled with a newfound taste for soak-the-rich tax policies, well, all bets are off.
Last edited by RationalExpectations; 10-12-2019 at 03:38 PM..
What are liberal studies? I don't think that's a thing.
What actually matters more than your degree is the internships and networking while in college. Also, most lawyers making $$$$$$$$$$$$$$ are liberal arts majors.
Few lawyers make $$$$$$$$$$$$$$ regardless of their undergraduate course of study.
Because people for the most part stink at saving and they didn't have that initial amount of money to invest. If people were amazing at saving, our economy would tank. We need them to spend. So disregard OP please, he is crazy, go spend your money and be happy!!!
In aggregate, total savings of everyone equals total investment by all. Savings equals Investment. Spending without savings means no investment. No investment is bad.
Because people for the most part stink at saving and they didn't have that initial amount of money to invest. If people were amazing at saving, our economy would tank. We need them to spend. So disregard OP please, he is crazy, go spend your money and be happy!!!
Exactly. If people were as frugal as some of the posters on CD the American economy would collapse. Jobs would evaporate. Retail, restaurants, entertainment, so many sectors would suffer from the hoarders. People can't be millionaires when everyone is saving and there's no jobs available when there's no spending.
It's been shared several times before that anyone who consistently invested about $250/month in the S&P over the last 40 years would have amassed well over $1M and might be closing in on $2M. That particular example illustrated how it doesn't take big bucks to get started investing and time + compounding does the rest of the work.
This baited question is reductive.
What's most interesting is that (some) people feel compelled to take the bait.
If you had a paltry $210,000 in your account invested in the S&P 500 in 2009 and contributed just $500/month since then to now you would now have a MILLION dollars.
The market has essentially tripled in the last 10 years... most people should at least be half-millionaires if not outright millionaires by now.
It seem like every average Joe could've done this. Why aren't you one of them??
Give me a break. Very few people are able to start the investment game with $210,000.
Don't you understand that?
I do agree that everyone who isn't on a poverty level income ought to be saving more than they do. The fact that so few save money in America is just pitiful.
But don't start with unrealistic premises like the average person can have $210,000. It takes much time to accumulate that much wealth. Also, a variety of factors can interfere. Let me cite just a few:
1. Your health can get bad and you need money for medical expenses.
2. You might actually want to buy a home.
3. You may have kids and you will learn unless you are Ebenezer Scrooge you cannot raise them on shoe string.
4. College expenses for your kids may eat up a substantial amount of your wealth.
5. You may experience layoffs during your career and the down time between finding a new job inevitably eats up part of your savings.
6. You may actually want to enjoy life. Take a trip or two. Buy a boat. Or enjoy a new car for once.
The point is that not everyone can have the sole goal of saving money despite all that life throws at them.
Well, this is C-D, where most posters are Harvard grads, have a gazillion $$, have travelled to 642 countries and 7 planets.....
I literally lol’d. 7 planets.
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