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re: Does the middle class not invest?
Posted on 7/19/20 at 11:17 am to jlovel7
Posted on 7/19/20 at 11:17 am to jlovel7
In everyone’s mind, they will start investing once they get that next raise, or pay down that last credit card, or a kid graduates from private school, etc.
The trick is just to start. Doesn’t have to be much. Just set something to auto withdraw once a week. Once you train yourself to think of that auto draft as no different than a mortgage or car note in that that money isn’t yours and is already spoken for, you can really start ramping up contributions.
But to start? $25/wk. Just set up the account and start gathering momentum. That’s most of the battle.
The trick is just to start. Doesn’t have to be much. Just set something to auto withdraw once a week. Once you train yourself to think of that auto draft as no different than a mortgage or car note in that that money isn’t yours and is already spoken for, you can really start ramping up contributions.
But to start? $25/wk. Just set up the account and start gathering momentum. That’s most of the battle.
2
Posted on 7/19/20 at 11:49 am to jlovel7
quote:
I always see people talking about the investor class in opposition of the middle class. Well I’m firmly middle class right now and I’ve already got a nice portfolio started because when I first started out in the working world I made sure to dedicate a slice of my income to my required debts, to my required bills, to investing for retirement And savings, and then to anything else that were luxuries.
Does the middle class not invest anymore? Why did this become something associated only with the ultra wealthy?
The middle class is saving for retirement through 401Ks.
Are they saving the same amount as the "ultra wealthy", no. Is the middle class saving more than low income earners, Yes.
The white middle class is saving more for retirement than previous generations. 2/3 white middle class earners contribute to a retirement plan.
quote:
The shift from defined-benefit to defined-contribution plans has exacerbated racial and ethnic disparities. Black workers’ participation in employer-based retirement plans used to be similar to that of white workers, but black workers began lagging behind white workers in the 401(k) era, while Hispanic workers fell even further behind (Morrissey 2016). Only 41 percent of black families and 26 percent of Hispanic families had retirement account savings in 2013, compared with 65 percent of white non-Hispanic families
Posted on 7/19/20 at 11:57 am to jlovel7
If a 401k and a Roth count, I’ll raise my hand.
My Roth is small. Like the OPs penis.
My Roth is small. Like the OPs penis.
Posted on 7/19/20 at 12:01 pm to jlovel7
Most middle class money is in 401Ks and the like. They pay ordinary rates on capital gains.
The biggest objection is the carried interest loophole, which allows hedge-fund managers to carry essentially their salary as capital gains and pay the 15% rate. That's pretty indefensible.
The biggest objection is the carried interest loophole, which allows hedge-fund managers to carry essentially their salary as capital gains and pay the 15% rate. That's pretty indefensible.
Posted on 7/19/20 at 12:48 pm to jlovel7
quote:
middle class
Ain't dere no more.
Posted on 7/19/20 at 2:32 pm to jlovel7
401k doing pretty good
Individual non retirement have safety fund but investments lacking
Individual non retirement have safety fund but investments lacking
Posted on 7/19/20 at 2:33 pm to jlovel7
This is the OT, everyone invest and has 6 figure portfolios..... They also all make 6 figures, have 800 credit scores, pay for vehicles in cash, has an average of 28 on their ACT, and could have played college athletics but passed for school
Posted on 7/19/20 at 3:21 pm to jlovel7
quote:
I’m firmly middle class right now and I’ve already got a nice portfolio started because when I first started out in the working world I made sure to dedicate a slice of my income to my required debts, to my required bills, to investing for retirement And savings
Posted on 7/19/20 at 6:58 pm to jlovel7
These needs to be a required class in high school instead of Algebra 2.
Posted on 7/19/20 at 7:22 pm to jlovel7
As of 2013, the top one percent owned almost 40 percent of stocks, while the bottom 80% owned 8%.
Posted on 7/19/20 at 7:25 pm to jlovel7
My convertible 550 and telluride condo says hello..
Posted on 7/19/20 at 10:16 pm to jlovel7
As of last year's data, the top 1% of earners owned 52% of all equities in the market. The top 10% of earners own 90% of all equities.
That leaves 10% of the value of the stock market left to 90% of the population. Yeah, people can invest and many do, even if just retirement, but let's not go sucking our own dicks for being "investors". We don't own shite. This is also one of the reasons why the stock market these days seems so out of synch with economic conditions on the ground.
That leaves 10% of the value of the stock market left to 90% of the population. Yeah, people can invest and many do, even if just retirement, but let's not go sucking our own dicks for being "investors". We don't own shite. This is also one of the reasons why the stock market these days seems so out of synch with economic conditions on the ground.
Posted on 7/19/20 at 10:35 pm to jlovel7
Haven't read the thread, but I'm guessing it's a lot of "I'm firmly middle class with my household 150k salary and we invest"
Posted on 7/19/20 at 10:36 pm to jlovel7
I started early. Dad used to listen to Clark Howard back in the 90s.
Posted on 7/20/20 at 1:01 am to jlovel7
Posted on 7/20/20 at 1:05 am to jlovel7
quote:
when I first started out in the working world I made sure to dedicate a slice of my income to my required debts, to my required bills, to investing for retirement And savings, and then to anything else that were luxuries.
we got little mister perfect over here.
Posted on 7/20/20 at 4:18 am to jlovel7
Not nearly enough do and that is just a sad fact.
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