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Millenials also have a lot of priorities that come before investing for their future. Student loans are choking the generation's ability to have spare cash for
by cryoshon 11y ago
Millenials also have a lot of priorities that come before investing for their future. Student loans are choking the generation's ability to have spare cash for savings and investing. In fact, I'd say the only group of millenials that are thinking of "investing" at all are the rich ones. The young middle class doesn't have enough money burn to participate in the stock market anymore.
Then there's the other problem: the millenials are living through the worst economic depression since the Great Depression. They saw the economy collapse and take out their parents 401ks which they had build for decades overnight. It's no mystery why they aren't interested in playing the sucker's game with the precious little money they have.
Then there's the third problem: we're due for another crash. It's been 7 years or so since the last one, and that duration of time is very typical from the market's peak to peak and trough to trough. Nothing has been fixed. Smart people have smelled this coming for over a year. It's a horrendously bad time to invest.
- makeset 11y agoNo, it's a wonderfully great time to invest, because given the strong national economy the market is due to keep climbing and recoup the setback from the latest crash, so staying on the sidelines is losing out. Notice how that's no less informed about the future than your wild speculation?
- shostack 11y agoThanks for this. I keep seeing all these doomsday posts of people feeling like there is an axe hanging over their heads waiting for it to drop. The same is true about the real estate market. The reality is that outside of a few people, the last crash was largely unanticipated. Just as with that crash, the next one is likely to be another black swan event we cannot predict. Black swan events don't stick to a schedule and you can't time the market.
- roymurdock 11y agoMarket sentiment is a powerful force. Never underestimate a critical mass of pessimism/optimism, no matter how irrational.
- w1ntermute 11y agoExactly - predicting 200 of the last 2 crashes doesn't make you any more accurate than predicting 0 of the last 2 crashes.
- cryoshon 11y agoOk, well, let's revisit this comment next year. A crash isn't guaranteed, but the US economy is quite far from strong. To imply my prediction is wild speculation is, heh, well, let's just watch the markets.