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Millennials have no way to replicate Boomer wealth through traditional vehicles.
Someone that bought Ford stock at the start of 2021 is up 170%. And despite the run up, it is still considered undervalued by traditional metrics. It sells actual products and generates real revenue and profits. Apple and Microsoft are both up 500% and 400% over a 5 year timeframe. Both have massive earnings and moats. Even a boring old consumer staple stock like Procter & Gamble or boring utility stock like NextEra are up 93% and 200% respectively over 5 years. Real companies with real earnings.
Millennials can keep chasing fads and losing money, or they can take the time to educate themselves about stock valuations. I've been a broken record here for a while--the stock market has a long history of reverting to the mean when things get frothy. It always goes back to valuations in the end. The best thing Millennials can do to grow "boomer wealth" is stop chasing fads....the earlier, the better. Millennials have a ~30 year time horizon to build their wealth, but someone YOLOing on AMC at $60 or Doge at $.69 by dropping all their stimulus money into them just set themselves back several years.
Unlike Boomers, Millennials literally have all the knowledge they need at their fingertips. And they can do it while paying zero commissions. Boomers had to rely on money managers that often screwed them over by investing in whatever product provided the best commission to the broker. Millennials have all the tools at their disposal to outperform the market, but it takes time and patience to learn how to do so.
I do feel sorry for those who bought at 65k and we're not mentally prepared. But the reality is there is now a robust community of Bitcoiners worldwide and that sets a price floor of roughly $25k by my estimation.
So for me at least, who got in at 10k it will never go below my coat basis, and if it does I will buy more. If you don't have that mentality you're not ready for the future.
The crazy thing is Harmony one is around $0.32. My cost basis is $0.01. If the bear market bottom is $0.02 I'm still 2x my investment. I'm ready to HODL to my cost basis and BUY MORE if it goes lower. Period.
Let this be a lesson for all new crypto investors, calculate what you think will be the bottom you can tolerate or get in super early to the next big thing.
For 90% of newbies I would say just DCA small amounts. I have done loads of research that most aren't willing to do. I immersed myself during the pandemic into this crypto universe. I used my own professional industry knowledge to learn the concepts and make assessments.
That's why I am still up 500% despite the market being down. Even if the Fed hikes to 5%, my Crypto portfolio will still be higher than I could ever achieve via S&P 500 in the past 5 years.
VET is down to 0.07 now and dropping more. I should just sell this garbage. There are now another 10 cryptos that litteraly do the same thing.
Who was the poster here that had VET at $800,000 at 0.20? Ouch!
Go right ahead, I won't shed a tear...
You need to do your research. There is no other Blockchain protocol at the scale and that uses "Proof of Authority", which Large Enterprises would be more comfortable with vs. POS.
Im invested in hex and currently staked .... roll in about 100 bucks a day(interest).. im happy lol
even when crypto burns
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