So clever
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I understand compound interest and how it works. If I invest money now, the interest I earn compounds on my accumulated interest on top of the initial investment. It's not a very difficult or esoteric concept.
What now? Do I get a pony?
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I really really don’t think its going to make that much difference on the few thousand bucks you realistically have!
If you want to invest long term, put it into google/apple… stock! In fact open.ai is trying to convert to for profit, their stock is also going to go wild!
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you should understand compound interest and how it works before you get buried in debt that you can’t pay off
When incomes are stagnant and interest is variable and inflation drives expenses upward, this is theoretically good advice but practically useless.
What do you tell the kid who can't afford college without taking out a 7-10% APY loan? Is risk you're taking on a degree worth the benefit of joining the professional class? Impossible to say under current conditions.
What do you tell the young adult choosing between renting an overpriced apartment or taking out a six-figure loan to buy an old home in a bad part of town? Is the 6% mortgage rate going to get better or worse in another ten years? Is the job market going to improve or collapse?
What do you tell the middle aged man faced with an insurance company rejecting his claim on a critical pharmaceutical? Do you go out of pocket and cut into your savings? Or do you try and make it without the meds and hope you don't destroy your chances at a comfortable retirement?
All the math teaches you is that risks exist. They keep you clear of a few truly awful choices, but they don't do anything to guarantee your success. There is no correct play in a game that is stacked against you.
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[email protected]replied to [email protected] last edited by
Probably not much longer https://www.sec.gov/newsroom/speeches-statements/peirce-crenshaw-statement-24x-112624
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doesn't matter if I understand that when rent has going up $100/year for the last 4 years and now consumes 99% of my income leaving me deciding between rent, food, and electricity. none of that matters when i have negative money to invest with and no debt.
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[email protected]replied to [email protected] last edited by
Good time to invest in a cocaine producer.
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It matters to the extent that there is a whole class of people who don't have to worry about that stuff that think you're not paying enough taxes and could use less of YOUR social security when retirement comes.
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the fuck can i do about those people and their actions in today's world? other than shooting them.
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But good ghouls get headpats!
That's the flavour of vampire mind control they never mention in the stories.
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Throw up your hands and give up I guess.
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And when you understand it, what are you going to do, put some of your money which you have into it?
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That's a very good estimate of what it would be worth today, assuming they average a modest 6.5% return rate.
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I'm not saying i shouldn't understand compound interest. I do understand it. I'm just saying our hang helped me.
like what are you even implying i should be doing that I'm not?
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[email protected]replied to [email protected] last edited by
That depends, did you buy ¼ of a pony 20 years ago?
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[email protected]replied to [email protected] last edited by
Like some professional investors are not breathing in more cocaine than air to trade 24h around the globe. The current gap is on weekends.
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[email protected]replied to [email protected] last edited by
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[email protected]replied to [email protected] last edited by
clearly understanding compound interest, or smth
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[email protected]replied to [email protected] last edited by
If you want to invest long term don’t take investing advice from people online who can barely form cogent sentences.
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[email protected]replied to [email protected] last edited by
A.k.a. familiars.
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[email protected]replied to [email protected] last edited by
If you don’t understand my sentences, then maybe you should learn english
