Quote:
Originally Posted by Xist
I wonder if Buffett says index funds will only return 7% is because he expects a zombie apocalypse under Turnip.
I have had people say "If you cannot afford to fix your car, just don't fix it."
How about the E.R.?
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Rates of growth are unsustainable. "Only 7%" is a lot of growth. That assumes the economy doubles every 11 years.
POTUS has very little to do with economic output. When was the last time you picked up more clients, or lost some, due to The President?
If a car is necessary for income, then it needs to be fixed and a CC can be used as a last resort. Otherwise, a car is a luxury.
Quote:
Originally Posted by oil pan 4
I know people who lost more than half of their retirement during the 2008 crash because they just let their money sit in Stock funds as the market crashed and burned.
One person at nasa I knew lost over $200,000.
Making or not losing thousands dollars per year is worth the time. All it takes is around 5 minutes once or twice each business day to check oil, gold, stock prices, trade volume, then on the 20th check the jobs and consumer numbers then each quarter the quarterly reports. On the 20th and quarterly reports you might spend a little more than 5min.
If legitimately stupid people can check fantasy football crap every day and make money off it then the average proletariat can make money and prevent catastrophic loss in the stock marke by checking it daily.
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If everyone did this, then there would be no advantage. The stock market is a zero sum game, which is why I don't like to play. I'd rather make my money producing something of value than shifting around funds and hoping to be better at it than the big players with insider info.