3 ms·
I don't understand. Anyone can invest in the market. There's no minimum income barrier. In fact, the bottom 90% should be investing in the market for the long t
by sxg 10y ago
I don't understand. Anyone can invest in the market. There's no minimum income barrier. In fact, the bottom 90% should be investing in the market for the long term through 401k and IRA plans. Putting your savings into a relatively safe index fund is a responsible way to save for retirement.
- virmundi 10y agoThe problem arises when you don't have any money to save. Also there is often a barrier to getting an account for an IRA. Scottrade is $500. That's a lot of money for a welfare recipient. Also at least in the US, we test total assets for access to social programs (http://www.heritage.org/welfare/commentary/passing-the-asset-test-food-stamps http://www.heritage.org/welfare/commentary/passing-the-asset...). If you have too much money, the state expects you to deplete those retirement funds, with the various fees and taxes, before you're eligible. If all of your savings is in the IRA, well, I guess starve or steal?
- sxg 10y agoThe comment I replied to specifically referred to the top 10%. The bottom 90% definitely aren't all receiving welfare. A $500 minimum for a Scottrade IRA account should be easily achievable for most in the bottom 90%.