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In terms of percentage gains they can do almost as well. Put a dollar in the bank and in 20 years you'll have $2. But I agree that having $2 isn't being rich.
by averagewall 9y ago
In terms of percentage gains they can do almost as well. Put a dollar in the bank and in 20 years you'll have $2. But I agree that having $2 isn't being rich. Or for middle class people, buy a house in a neighborhood before a property boom and sell after. Guessing future property values is just as hard for both the rich and the poor. You still have to work to find out and risk bad luck.
- uoaei 9y agoCasting the risk that both need to take as equal is a terrible disservice to those with less money. They have less emergency fund, thus less credit-worthiness and a much, much higher risk of introducing a lot of pain and stress into their lives if things go south on a bad deal. Rich people have a lot of safety nets, and usually have the luxury of taking out a loan or working out a better deal after things go bad, whereas a person with less money will be shooed away two steps into the door of any banking or loan establishment that isn't solely a predatory one.