I keep wondering if the incoming tech oligarchy administration will boost stock prices (because that’s how they compound the billions) and that will be enough to keep us in this rut longer than we would be otherwise.
The US stock market always performs well during Democratic presidents terms and does not do well during republicans
Simple starting and ending prices don’t prove this point. Performance isn’t a simple number that you can put over 4 years because not everyone is investing in 4 year periods.
Trump had the worst crash we’ve ever had under him. Bush was also awful. Might as well ignore everything before that for being decades out of date.
Lol … I’m indigenous Canadian and I thought the headline said ‘Native Man’
Me too! I mean the reading the headline part, I’m not indigenous Canadian haha
RDRR.
But seriously, invest for retirement. It’s all on you.
I’m “investing” by learning self sustainability.
I wanted to be more proactive, but school systems don’t like hearing about kids who worry about climate change.
Money helps a lot with resiliency. Like a lot.
That assumes the banks survive. Cash would probably still be useful, but that assumes Trump wont go full Nazi Germany and just print more money eventually to the point of hyperinflation.
if banks fail you might as well eat a bullet you aint sustaining shit
if you’re trying to prepare for nazi america, then invest in beans rice smokes and bullets, then you’ll at least have that bullet
Cash won’t hold its value. Investments, on balance, will. Retirement right before the start of World War I would suck. It would suck more to have no broad based investments.
You need to invest money. My recommendation is get a job and start investing.
Wouldn’t investing at this point basically means betting for even larger tesla & nvidia? Since these companies comprises huge part of nasdaq.
That’s what I would call a bubble. The same has been said for FAANG stocks because they are success stories, and I do think that TSLA and NVDA are large enough with enough assets that they aren’t going belly under overnight.
That said, there were stock advisers, people with degrees and decades of work in early 2001 saying “Buy Enron!” Same goes for dot com stocks, same goes for cypto bros. I’ve made some pocket change off those two companies “mooning” their share values so I am definitely not complaining, but don’t rely solely on those two to go “line go up” forever. When they did my decision was not to buy more, my decision was to very smartly sell off a small portion to “make my money back” per se, and now the rest is house money basically :)
I learned the hard way that 401k is a scam.
Just put money in a savings account, people.losing 5-8% buying power every year sounds great!
What part of a 401k do you think is a scam lmao
The part where it’s defined-contribution instead of defined-benefit.
To be perfectly honest, I personally am better served with a 401(k): I’m in an above-average earning career (engineering), have lived well below my means, and am financially literate.
But most people are not like me. Frankly, the average worker in the US is either not competent or not disciplined enough to both actually contribute enough and invest it properly, and so as a nation we’re careening towards a disaster of geriatric poverty the likes of which hasn’t been seen since before Social Security was invented.
So yeah, the American working class was definitely scammed when pensions were replaced with 401(k)s. But hell, even if you don’t understand the actual differences and implications, you could also tell it’s fishy even just by the fact that the execs were so eager to switch over!
Y’know there’s this thing called Target Retirement Date ETFs right? Also, aren’t most 401ks either managed or extremely restricted towards very safe investment options?
Y’know there’s this thing called Target Retirement Date ETFs right?
Of course I do.
But a surprisingly large number of people either don’t, or don’t understand it and are terrified of making a mistake, so they end up making the much worse mistake of leaving their 401k contributions in the cash sweep account. (I think in recent years 401ks have started putting contributions in target-date funds by default instead of making people affirmatively choose it, but still, a lot of people lost a lot of years of growth to that issue alone.)
And again, that’s not even talking about the people who simply don’t [think they] make enough money to contribute at all, but would have had money going to their retirement if it had been in the form of a pension that they never had the option to decline and get in their paycheck instead. I have never heard of a 401k that forces you to put money away in order to ensure that your retirement is actually adequately funded, the way that pension plans used to handle automatically.
Perhaps but my years working for various companies that offered pensions with substantial vestment periods but which I didn’t stay at for long enough to get are wasted, because pensions usually take 10+ years to earn, whereas if I’d had 401k contributions with vestment periods usually around 1.5-5 years I’d have a decent little bit of money from those that could have grown.
Now I have the best of both worlds where I get a defined contribution of 10% on top of whatever I earn added to my 401k with just a few years to vest.
Pensions only pay out if both company and employee are a type of loyal that is simply not common anymore.
