Thanks Banjo, The S&P 500 index is up 11% year to date with no work involved. Warren Buffet made one time investment bet in 2008 against the hedge funds and been kicking their ass ever since. He only made one trade, bought the index. while the hedge fund made probably 1000 trades already. And they still lost. I will just keep buying the index everytime I get paid. Just easier that way. https://money.cnn.com/2018/02/24/investing/warren-buffett-annual-letter-hedge-fund-bet/index.html
Your people have been suckered into mortgages (I bet you have a nice juicy one) and now FOMO from indexing. A reckoning is coming. Your quality of life will decrease. The "smart money" is already looking for where else to put their money. I expect it is outside of North America. Unfortunately, I am dumb.
nooby_mcnoob, Please explain what you mean by "Your people" and "I bet you have a nice juicy one" and "now FOMO from indexing". Please rewrite in detail so it makes sense to me. Thanks,
nooby_mcnoob Ohhhhh, you talking about that "juicy one" Yes, correct , I do have A BIGGGG juicy one. PM me so I can show you a picture. Maybe share some tips how you can have a big juicy one as well.
No I'm not talking about your penis. I'm saying they probably suckered you into a juicy mortgage at/near the peak for your area and it's going to decline going forward leaving you in a house that will barely match inflation while at the same time, paying 25% of the peak value in interest. FOMO from indexing = people see the bull run of the last N years, getin on it and don't see that there are two possibilities: 1. Perma-bull => this is bad, real inflation is high, you will feel it later 2. Not perma-bull => Serious correction coming With option 1 + mortgage, you _probably_ end up even since the value of your money is decreasing significantly and so the mortgage you pay is worth less with each passing year. With option 2, since you are indexing, it could take you up to 20 years to catch up if we have a depression-like correction. And that is the point at which you may be even. Neither of these options leave you with a better life. Therefore, your quality of life is going to decrease. FEAR THE BANKS.
nooby_mcnoob, You doing too much talking. Put your money where your mouth at. Would you like to make a bet to see if "they" suckered me into a bad mortage? Then we can settle it like that. Reply with the rules of the bet and I will tell you if I want to take it or not. We don't need to debate it, lets bet it. Put up or shut up!!
nooby_mcnoob, As I said before, you doing alot of talking about how "they" got me and how "they" screwing me. I hear you talking, if you so sure "they" got me, bet me. I post my mortage information here. Put your money where your big mouth is. Otherwise, shut your damn mouth up!
I already do put my money where my mouth is. I have a property management business that rents shitty places to poor people. Great return. If you do a little bit of background checking (single mom, educated), you basically have 0 risk except that life has dealt her a bad hand. I even rent my own place from myself, except I'm not poor, and this place cost ~1 million last I checked (I paid $300K about (edit: 2 decades) a decade ago, no mortgage). There is almost zero risk to me. Poor people live in a completely different economy from the middle class and the rich. They will always be fucked so a little more fuckery doesn't do much. The middle class is the most likely group of people to be super fucked in the next 20 years.