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re: The DowJones Industrial Average AND the S&P500 Index both closed at record highs today
Posted on 1/20/24 at 10:16 am to Thundercles
Posted on 1/20/24 at 10:16 am to Thundercles
quote:
Right. 90% of what I pump in goes to 401k/IRA/HSA so while the numbers in those account looks nice they're still a couple decades away. My month to month is still impacted.
I think this is the thing.
Look, I'm glad the market is up... and I'm glad the market is up in real dollars after accounting for inflation.
But none of those gains are impacting me today. They are paper gains.
Meanwhile the actual expenses I have today are higher, even adjusting for wage growth (to the poster who argued inflation by saying that wages are higher... most people are not having wage growth keep up with inflation).
So yes, my net worth is higher today. When it comes to paying bills and buying things today, the fact my net worth is higher is a completely irrelevant thing.
So... the people gaining from inflaion are investors... but most of those investors don't get to today enjoy the actual benefits of those gains.
Meanwhile, the 5% or whatever that lives on those gains... and the retired boomers... are the ones getting to benefit today.
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