I've lived in a few different democratic countries and this is true in all of them. The main difference is the level of hatred you get from the government if you somehow manage to beat the odds. USA is getting to the point where the first few rungs from the ladder are about to be removed.
Hello nooby_mcnoob I love America because all you have to do is get to +$1,000,000 then you can solve all problems you have. I view the stock market as a Hoe. Used that Hoe up until you make $1,000,000 the get rid of that Hoe. My friend is 64 and told me last week his retirement account is down $300,000 and was at $1,000,000 about 1 year ago. Says he can't retire now and wish he had retired year ago. Make a $1,000,000 and take the money and sit your ass down.
I hate to quash your dreams but 1 million ain't nearly enough. If you figure in inflation you probably run out of money in 10 years or less.
Hello deaddog, One thing at time sir. Let me get to $1,000,000 then we worry about all that inflation and all other pony and clown show things.
No problem. That shouldn't take too long, all you have to do is double your $5,000 about 8 times. Ah the beauty of compounding.
What is your definition of shouldn't take too long? Which of these ball park timeframes were you thinking of: If you make 40% a year, it will take you 16 years (to go from 5K to 1000K). If you make 100% a year, will take 8 years. If you make 100% every six months, will take 4 years (300% a year). If you make 100% every three months months, will take 2 years (1500% a year). If you make 100% every six weeks, will take 1 year (20,000% a year).
Well my buddy SML has given himself a 5 year timeframe so I'm sure it'll be a little less than every 6 months. Of course he admits he doesn't know what he's doing so it's liable to be less than that.