I've been doing some YouTube research and thought you could all benefit from this
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How’s the stock market?
- Thread starter lagunaboy
- Start date
Fun fact. My net investment and net gain over the last 730 days is equal. 100% return.
Indexes and funds allow you to retire. Individual stocks allow you to brag. Only one makes you rich.
When I was watching The Wolf of Wall Street it totally reminded me of a company we did a card access system for in White Plains, NY in the 90's. Our technician on the job came back with stories of a few Ferraris that the top employees of the month could drive, a circus tent set up in the parking lot for a day, uncrating of new Harleys in the parking lot - lots of wild stuff. A guy our tech went to high school with was working there and told our tech that it was pretty boring and formulaic, cold calling to push one stock at a time. They were gone in a year or two.
So I looked back in our records and it was actually the Jonah Hill character's business that he started up after the DiCaprio character had crashed. I have a signed purchase order from him for 100 access cards!
So I looked back in our records and it was actually the Jonah Hill character's business that he started up after the DiCaprio character had crashed. I have a signed purchase order from him for 100 access cards!
If I can afford to run a window A/C unit overnight, a 250 dual sport, a fishing pole, a mask/snorkel/fins + pole spear, and a roundtail five box shortboard in the third world without having to work, I'll consider myself richer than Jeff Bezos.
Give or take $6mm is where retirement becomes stress free and keeps you from going deep into your principal most years. Reality is that if parents opened up a brokerage account at Chase, Wells, or Morgan Stanley etc and started investing for their kids at a young age...birthday and christmas money allowance etc etc....by the time they were adults they would have a real nest egg. Plus it makes it easier to save when you have a pile of cash to look at.
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I think a person who does not understand anything about stock markets and, in principle, does not understand finance will find it challenging to invest in something. A friend of mine had about $ 100K and decided that the best solution would be to invest it in something. The only problem is that he does not know how to manage money. He would lose all the money if he invested it wrong. We advised him to contact a financial advisor to get it right. At first, he did not agree. But later, he decided that it was still not worth thoughtlessly spending such an amount. He found the best financial advice to deal with all the difficulties. After working with a financial advisor, he planned all stages of the investment. After a while, he even began to study the stock markets. Now he has learned not only to invest money but also to manage finances correctly.
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$6MM in retirement would be very stress free if you can do it. Most can make do with a lot less. You could live a six figure lifestyle with a fraction of that while still growing your principal most years.
I agree that teaching and helping the kids to save and invest is an important life lesson. Make sure that retirement saving starts with their first job.
6mil is when you get stress free? I could do it with 1.5mil....if you can budget correctly and most likely be debt free going into retirement...your investments make you 15k per year and if you spent another 15k of principle for your yearly budget it would take you 159 years to eat through the 1.5mil....I think I could live off 30k per year if I’m debt free with house paid off...I’m just 1.2mil short, anyone wanna give me some side cash to see if this experiment will work?
If you're only earning 15K on 1.5M you're doing it wrong.
Homeless people live on more than 30k per year.
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