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Your claim is the flip side to the joke that goes something like, "The law is blind to class: it is equally illegal for a rich man to sleep under a bridge as it
by tasty_freeze 7y ago
Your claim is the flip side to the joke that goes something like, "The law is blind to class: it is equally illegal for a rich man to sleep under a bridge as it is for the poor man."
The point being: a large fraction of the population in the US is living paycheck to paycheck and has no money to spare for investing in an index fund.
- umvi 7y agoAnd yet many blow at least $3000+ per year on worthless consumables like cigarettes and lotto (at least my pack-a-day neighbors do). $3k per year in an index fund is certainly not insignificant.
- gruez 7y ago>And yet many blow at least $3000+ per year on worthless consumables like cigarettes and lotto being poor impairs your cognition[1], so it's not surprising that they are wasting money on stuff like that. [1] random google result: https://www.scientificamerican.com/article/how-poverty-affects-the-brain/ https://www.scientificamerican.com/article/how-poverty-affec...
- logicprog 7y agoI'd imagine that the people they studied in Bangladesh in that article are a lot more poor than basically anyone in the US, especially people with $3k to spare on anything. And if you were to find evidence of poorer people having impaired decision-making skills in the US (and there might be evidence of that), the question becomes, are they as poor as they are because of that poor decision making?