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re: Does the middle class not invest?
Posted on 7/19/20 at 7:58 pm to jrobic4
Posted on 7/19/20 at 7:58 pm to jrobic4
quote:
Almost 1/3 of American workers don't take full advantage of a 401k match with their employer
This sounds like a really low percentage. Are you saying that almost 70% of workers with access to employer matching in a 401k are contributing up to the limit?
0
Posted on 7/19/20 at 10:03 pm to Ramblin Wreck
What you baws recommend for someone in mid 30s with about 45k in Roth? A 3 fund Boglehead approach?
This post was edited on 7/19/20 at 10:18 pm
Posted on 7/19/20 at 10:08 pm to BestBanker
so they should save and lose their purchasing power to inflation instead of making money on their investments. This is why you are poor and will remain poor.
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 10:23 pm to mmmmmbeeer
quote:
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.
Too many of us think we are a regular Jeff bezos cause we have a mortgage and get employer match 401k... maybe even a day trade occasionally
Not saying there is anything wrong with living that life. Hell its very much my own.... but knowing where you actually stand and having some self awareness isn’t terrible. I don’t have real capital.
Posted on 7/19/20 at 10:28 pm to tduecen
quote:
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
I guess you meant this as sarcasm, but in my age group, over 60, most of the people I know have low 6 figure household incomes just from working jobs like sales, nursing, teaching, etc, 6 figures in a portfolio is a given if you are close to retiring, having 7 figures is not even rare nor is a 800+ credit score, and paying cash for vehicles.
Posted on 7/19/20 at 10:30 pm to meansonny
Many lower class people say that to feel better about their lack of ability/work ethic to achieve that status. If you show them a rich person who was born porn they will say it was luck.
Posted on 7/19/20 at 10:31 pm to nugget
What is your debt for? Real estate holdings I'm guessing?
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 7/19/20 at 10:39 pm to Capstone2017
quote:
rich person who was born porn they will say it was luck
Being born in porn definitely seems like a tough hill to climb unless you’re lucky
Posted on 7/19/20 at 10:47 pm to mmmmmbeeer
quote:
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.
I see this and scratch my head.
How much of the market is owned by pensions?
How much is owned by insurance companies?
How much is owned by Apple/Google/Walmart?
How much is owned by other countries?
The idea that the market is only owned by people always baffles me.
Posted on 7/19/20 at 10:49 pm to mmmmmbeeer
quote:found the communist
mmmmmbeeer
Posted on 7/19/20 at 11:28 pm to mmmmmbeeer
quote:
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.
the equity percentages don’t seem to have much to do with ROI on an investment.
Everyone can find a couple thousand dollars to throw into some mutual funds every year.
You sound like a communist with this kind of rhetoric.
Posted on 7/20/20 at 12:37 am to Sun God
Well yeah but if you suck a lot of dicks you can make your way out of it.
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 1:18 am to Gatorbait2008
quote:
I just got 30 shares in Nokia this morning. They are in the 5g tower race and at less than 5 a share I liked the play
I loaded up on NOK Jan 21 calls with a $7 strike.
Posted on 7/20/20 at 1:30 am to Ramblin Wreck
quote:
Not sure if your question is sarcastic, but all three of these have huge investments and were hit pretty hard by COVID. People quit flying, driving, and can’t make loan payments. Regardless, these markets will come back strong. They always do. We can’t survive without a banking industry. As third world populations and economies continue to grow, oil demand will follow. As mentioned earlier, just about everything you buy has something petroleum based in it. The shiny box with the frozen pizza in it that you buy has a wax coated box and chemicals in the ink that originated from oil. The plastic around the pizza is from oil. The US department of defense needs Boeing to be strong. Boeing needs airlines to be strong. Boeing at less than $200 a share is an great long term investment. There isn’t even a possibility that those three industries will be allowed to fail. Without them, we would slip into being a third world economy.
While a lot of this may be true, many of these, including XOM, have been stagnant for months. Instead of letting my money sit there in Exxon doing nothing I put it in bio and EV stocks like Nikola. I am up 520% in NKLA shares and 4400% on NKLA options. I bought calls in Moderna bc they have the vaccine and I’m already up 250%.
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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