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Posted on 5/19/26 at 2:53 pm to turkish
quote:
Increasingly, Americans lack foresight. Technology and success have driven us to be more shortsighted, less patient, and expecting instant gratification. It’s not our culture to “trust the process” any more. And I think this applies to some degree to all living generations now.
I think you have to consider the pessimism that people have over the future. Millennials and younger have a bleaker outlook on what the future holds, so why not enjoy today? I think that attitude is held by a lot, and they'll cross that retirement bridge if they get there.
I can't say I totally disagree, either. I'm not totally bought in on a dystopic future, but I'm also not ruling it out. So, some days I choose to have fun.
Posted on 5/19/26 at 3:45 pm to el Gaucho
quote:I remember when my grandfather lost his buggy whip maker job. Those darn internal combustion engine automobiles took away his job. Society has clearly been worse off since.
You’re describing a cool job that boomers could do and make a great living that no longer exists
Posted on 5/19/26 at 3:56 pm to Jax-Tiger
quote:
Im pretty certain you failed at understanding what I was saying.
That doesn't matter. It's all about their feelings and parroting what Scott Galloway tells them to believe.
Posted on 5/19/26 at 4:03 pm to RoyalWe
quote:
I remember when my grandfather lost his buggy whip maker job. Those darn internal combustion engine automobiles took away his job. Society has clearly been worse off since.
Society has been worse off since
I know the liberals on this board measure human progress by how many third worlders don’t die of malaria and can move into our neighborhoods but the standard of living has been dropping ever since humans switched to agriculture. Your ancestors had it better than you in ways that you can’t even imagine
Posted on 5/19/26 at 4:12 pm to el Gaucho
quote:
You realize that this isn’t a flex
You’re describing a cool job that boomers could do and make a great living that no longer exists
My point was that back in the day, most people didnt trade stocks. Not only did you have to pay a broker to make a trade for you, it wasn't done in real time AND, you didnt get the stock prices until the next day, when you read it in the newspaper.
Today, people have free trading apps and up to the minute results, as well as all kinds of resources to teach you different trading techniques. Its definitely easier to personally build wealth.
Posted on 5/19/26 at 5:53 pm to BottomlandBrew
I’m a millennial, and that’s a weak attempt at trying to excuse irresponsibility and shortsightedness. What kind of dystopia are you talking about? Because early death is the only scenario for which that intelligent personal finance isn't objectively better than the lack thereof.
I mean Mad Max taught us that a box of bullets is better than a trip to Starbucks.
I mean Mad Max taught us that a box of bullets is better than a trip to Starbucks.
This post was edited on 5/19/26 at 5:55 pm
Posted on 5/19/26 at 8:15 pm to turkish
I painted with a broad brush that doesn't apply to all, and I was a bit hyperbolic about a dystopia (maybe? hopefully? again not ruling it out), but there is a sentiment felt by many, be it conscious or unconscious, that the future going to be harder than the present, at least in the medium term. That is a drastic shift in outlook from a couple generations ago. We're up against some tough challenges, so I can understand the financial YOLO outlook of some.
Posted on 5/19/26 at 8:23 pm to el Gaucho
quote:
the standard of living has been dropping ever since humans switched to agriculture. Your ancestors had it better than you in ways that you can’t even imagine
This is actually retarded. Some people just have a knack for finding ways to be unhappy.
My ancestors were getting blown up in wars, I don’t think we have it that bad brother.
Posted on 5/19/26 at 8:38 pm to TigahsOnTop
Yeah that argument might work better if I hadn’t met a lot of my more recent ancestors. My great grandparents didn’t give off “damn my life has been sweet” vibes.
Posted on 5/19/26 at 8:39 pm to BottomlandBrew
But what kind of challenges are they fearing that legitimately would make saving money now unwise? Because “vibes” isn’t any more legitimate a reason now than it was 30 years ago.
I have no doubt some may jump from “challenges” straight to “YOLO.” I’m just arguing that that jump is totally illogical.
I have no doubt some may jump from “challenges” straight to “YOLO.” I’m just arguing that that jump is totally illogical.
This post was edited on 5/19/26 at 8:45 pm
Posted on 5/19/26 at 8:54 pm to TigahsOnTop
quote:
This is actually retarded. Some people just have a knack for finding ways to be unhappy.
My ancestors were getting blown up in wars, I don’t think we have it that bad brother.
I'm not sure if you have a revolutionary war ancestor (obviously i do) but can you imagine if they saw what america is today
Posted on 5/19/26 at 9:05 pm to turkish
quote:
But what kind of challenges are they fearing that legitimately would make saving money now unwise? Because “vibes” isn’t any more legitimate a reason now than it was 30 years ago.
I think maybe people might be worried about saving "dollars" in the face of rising inflation and the us losing its place as the hegemon
for a very long time, at least since the 70s-80s it has been riskier to invest in some sort of business enterprise of your own than it is just to "put it into the market". Do you trust yourself to not lose whatever you put in when you could just make 7 ish percent a year? This stifles the strength of a nation over time, see england
However in a situation where the currency continually loses value over time and an unfavorable tax situation develops would you rather have a tangible something you hold onto, such as a business that you can barter under the table if need be or do you want to be holding promissory notes?
I'm not sure if this is where i should plug princes of the yen or not, i haven't read it but i listened to a podcast where the author explained it
Posted on 5/19/26 at 9:14 pm to el Gaucho
First, I can’t believe I responding to you, but I’ll assume you forgot to swap accounts.
Second, you make understandable, valid, and intelligent points.
Third, when we talk about YOLO, I don’t equate that to investing in a personal enterprise instead of the market. To me YOLO is spending 10% of gross income on a single international vacation every year, for example.
Second, you make understandable, valid, and intelligent points.
Third, when we talk about YOLO, I don’t equate that to investing in a personal enterprise instead of the market. To me YOLO is spending 10% of gross income on a single international vacation every year, for example.
Posted on 5/19/26 at 9:18 pm to turkish
quote:
But what kind of challenges are they fearing that legitimately would make saving money now unwise?
I could make a very long list of challenges we are going to face within the next 30 years that did not exist 30 years ago. I won't because some of those challenges may be perceived as political, and I hate politicization of the money board topics. Suffice to say, humanity, in my opinion, is about to confront some of our toughest challenges yet. If one suspects that failure to confront and defeat these issues is possible or likely, then one might be more inclined to use their money now while it has value to them and others instead of later when it may not matter if you have one or two commas in your savings.
Do I think most people think about it in those terms? No, I don't think you average person ringing up debt on a new side-by-side for neighborhood cruising is thinking that deeply about the subject, but I do think they feel something is amiss. We could talk ourselves into a loop on whether that vibe is self-fulfilling or not.
Posted on 5/19/26 at 9:21 pm to RoyalWe
quote:
What sometimes frustrates me is that I know it is possible to live within your means without keeping up with the Joneses and also that it doesn’t take a tremendous amount of money to invest in order to be a millionaire if you start early, but it seems that no one is willing to do it.
This, this and this!
The choice to spend on lifestyle today is ok. Work hard for money and should enjoy some it.
The choice to spend 100% or more of one’s means, and forego investing in cash generating assets and compounding interest is 6 or 7 digits of wealth destruction-foolish.
Keeping up with social media Joneses tax and “impossible” mindset are indeed costlier and riskier than inflation itself! Foolish.
I had lower middle class start to financial freedom we now enjoy. To say, living below means, investing regularly and with discipline works! Then and today. Joneses be damned.
Birthday differences matter (low interest rates, college costs, housing costs). However, compounding interest is just as powerful and perhaps even more meaningful. Do it.
If I can do it, many people can. NOT impossible! NOT!!!
This post was edited on 5/19/26 at 9:44 pm
Posted on 5/19/26 at 9:26 pm to RoyalWe
$1M by the time isn't that hard assuming you stay employed with the coming AI wave.
Also $100K is tough to make it on unless you are single with no kids and then still you are being frugal.
Also $100K is tough to make it on unless you are single with no kids and then still you are being frugal.
Posted on 5/19/26 at 9:35 pm to el Gaucho
Wow, legit points…alter toggle switch snag? Kidding.
Big jump between own enterprise and “the market”. People’s fear of losing money (market) is greater risk to their wealth than currency debasement. People’s choice to YOLO is even greater.
In my life’s experience, 3 things are certain:
1.sun rise in east
2. telling wife she gained weight and pay the price.
3 bet against human greed and pay the price (fear of loss or YOLO).
Live below means, invest regularly in cash generating assets (ie, human greed is your friend), and stay disciplined. It is not only possible. It is incredible!
Don’t let excuses beat you into betting against human greed - that hegemon is undefeated.
Big jump between own enterprise and “the market”. People’s fear of losing money (market) is greater risk to their wealth than currency debasement. People’s choice to YOLO is even greater.
In my life’s experience, 3 things are certain:
1.sun rise in east
2. telling wife she gained weight and pay the price.
3 bet against human greed and pay the price (fear of loss or YOLO).
Live below means, invest regularly in cash generating assets (ie, human greed is your friend), and stay disciplined. It is not only possible. It is incredible!
Don’t let excuses beat you into betting against human greed - that hegemon is undefeated.
This post was edited on 5/19/26 at 9:46 pm
Posted on 5/19/26 at 9:37 pm to BottomlandBrew
Thanks for keeping it apolitical. I wasn’t arguing that new challenges don’t exist. I live them daily! I asked what challenges exist that make saving unwise. I’m genuinely trying to understand.
This post was edited on 5/19/26 at 9:49 pm
Posted on 5/19/26 at 10:06 pm to el Gaucho
quote:
the standard of living has been dropping ever since humans switched to agriculture.
Turn of century to 1900s, the U.S. economy was 50% agriculture. Turn of century to 2000s, the U.S. economy was less than 10% agriculture.
And we experienced neither 40+% hunger nor 40+% unemployment. If you consider no hunger and employment in standard of living, not too shabby in drastic change in mix of economy.
Food, clean water, medicines, refrigeration, transportation, et al…not only all better, can push 3 buttons on ‘smart phone’ and all can show up on doorstep the next day.
“Worse off”?
You sound like you currently live in grey and rainy Seattle and room with Chris Cornell and Kurt Cobain.
This post was edited on 5/19/26 at 10:09 pm
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