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While your perspective may be correct for you and others in similar financial/privileged/fortunate situations, the vast majority of America isn't. I can speak
by alpha_squared 8y ago
While your perspective may be correct for you and others in similar financial/privileged/fortunate situations, the vast majority of America isn't.
I can speak for myself personally, since I have no generalized data, but I have several _close_ friends earning within the top 5% of the nation. Even _they_ would have trouble parting with 50k on a risky investment. They'd _want_ to invest, but that's not an insignificant amount of money to part with for them.
- Retric 8y agoHow close are they to retirement age? I ask because income takes time to turn into wealth. I used to think of 1,000$ as a huge amount of money, but given time to build up assets and some relatively modest pay increases and that's no longer the case. PS: The other thing that happens to most people is eventually their kids move out of the house. That opens up a lot of possibilities even without a pay bump.