re: Compound Interest Will Not Make You Rich

Doesn’t help that the Fed isn’t raising interest like it should with high inflation. We should be minimum at 9%. Been protecting Wall Street since 2007. There should be a huge market correction.

you keep repeating the same thing over and over.

this is what you originally said

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while some portion of society will make enough to support them through retirement and in some cases will even have some money left over to pass on. The path we're increasingly on is that those individuals are becoming fewer and fewer.

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You're blaming the ultra wealthy as the cause for this, I am suggesting otherwise. If you think discipline and sacrifice has no correlation to wealth generation I don't know what to tell you.

NC Tigah has it right. If young people would just do this instead of eating out 2X’s a week they’d be fine. $200/week invested in a safe investment like an index fund will do wonders for your security.

I try and explain the rule of 72 to young people. I learned about that rule about 35 years ago and it changed the way I thought about saving, really everything.

The wealth of this nation is going to take off if people will have the patience to listen to what Trump is trying to sell our country. There is no short supply of opportunity only a very short supply of common sense and patience and the notion of need vs want.

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The wealth of this nation is going to take off if people will have the patience to listen to what Trump is trying to sell our country. There is no short supply of opportunity only a very short supply of common sense and patience and the notion of need vs want.

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exactly my point, but numb nuts over here suggests otherwise

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You're blaming the ultra wealthy as the cause for this, I am suggesting otherwise. If you think discipline and sacrifice has no correlation to wealth generation I don't know what to tell you.

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I think if you have nothing then a prerequisite of becoming wealthy would absolutely be dicispline and sacrifice, although that doesn't guarentee anything.

I'm arguing that the fact that more and more people are unable to afford to retire or buy home, and that wages have been significantly outstripped by the cost of purchasing assets, requiring significantly more labor to purchase the same things as prior generations, is more likely the result of factors outside of the majority of folks suddenly becoming less disciplined or unwilling to sacrifice then people from the 1960's-2010's

If you feel like that explains the majority of these factors and the increase in wealth inequality then yea I guess we're at an impasse.

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You cant save enough money for compound interest to work for you, therefore, compound interest doesn't work.

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What a ridiculous statement

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We all recognize the price of many assets are outpacing wages and have been for decades.

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25 yrs ago a 42" 720p flat screen TV was $15K. Now folks wouldn't pay $15 for that same TV; 42" 1080p units are going for $120.

How are you defining "assets"?

You're absolutely correct. Certainly historically, if you were able to save diligently and live within your means you would likely be able to retire with a nice nest egg.

The video is speaking more to the current and future state of the average member of society's ability to actually be able to save enough wages to perpetuate this cycle, and posets that increasing asset accumulation with the richest likely will/already is having impacts on the average person's ability to do this.

Interesting claim. Meanwhile my children (all under 34) are all actively saving and will have anywhere from $2-5MM in net worth by there mid 50s. Will that be enough? Who knows, but assuming long term market returns and inflation are somewhat corollary I think so.