flown-the-coop said:
infinity ag said:
SteveA said:
Trump and his ilk don't care about inflation as long as the market outpaces it. While most Americans, who don't or can't participate in the market, are feeling it at the grocer and the gas station, he said it was worth it because the market is at an all time high. Might be just a tad out of touch with middle America.
Exactly. I keep evangelizing this but some people here try to shout me down. The way to get rich and stay rich is not a job in 2026 and onward. It is investing. Folks who have a 1975 mindset will find themselves in trouble.
I personally am a frugal person but investing has kept me in good financial condition, not my career. Just buy VOO and sit on it.
What the heck are you going to do in a recession? And your career / job combined with frugality allowed you to save in markets that have performed very well in your prime saving years. I believe we are about the same age. We have never experienced a true market correction unless you were overly exposed to construction in 2008/2009 or tech in 2000/2001.
The way to get rich and stay rich is to start and run your own business, win the lottery or get elected to Congress.
Recessions come and recessions go. I bought my first stock (ORCL) in 1999 and I think I made a profit of around $300 with it. I've been through the Y2K crash, the 2008 crash, COVID crash, 2022 crash and other ones in between. Investing is not a get rich quick scheme where you specify timeframes. It is for the long term but you have to start NOW as you cannot go back to the past.
I am not capable or don't want to do the work to "run my own business". Too much risk and I want to enjoy life as well. Lottery/Congress are dumb ideas.
The only workable idea for average people is index investing and starting it as early as possible. I just bought for my teen and early 20s kids, the don't even know what's happening now but will be millionaires before they are 30. I missed some good years but am okay.
So coming back to the topic - the point is that is where the world is heading to. Trump also watches the stock market. If you use my formula (and have a reasonable starting capital) you don't even have to work in a job. Corps only care about stock price, President cares about the stock market, so should you and I.
If you do that you stay ahead of inflation like I am doing right now.