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How can you invest when you have to decide whether to fix the car or eat? The rules aren't fair, they're made by the rich. Learning how to follow them won't ma

How can you invest when you have to decide whether to fix the car or eat? The rules aren't fair, they're made by the rich. Learning how to follow them won't make you richer because they're designed to increase the wealth at the top. Almost no-one advocates seizing wealth hrough tax. Merely work (income). Since the rich have wealth and the poor work (earn income)

frockington1 7y ago
Learning how to follow rules is exatly how to become rich. Entry level retail store now pays 15/hr. 60 hours at week equates to 48k/year. Hardly unfair
- i_haz_rabies 7y ago
  Try working for 60 hours a week at minimum wage with kids and let me know how much time you have left to spend managing investments.
  - frockington1 7y ago
    So 30 hrs/week for each parent.... ? I personally work ~50-60 hours a week and have plenty of time for investments. It takes around 10 minutes a week to manage, could probably trim that to 10 minutes per quarter
- anigbrowl 7y ago
  Either you're trolling or extremely naive. $48k/year ain't shit when a) you'll pay some of that back in taxes and b) in places where you can get $15/hour for retail you also need to shell out $30k/year just to have a small studio apartment.
  - saalweachter 7y ago
    I would also add: 1. 60 hours per week at $15/hr for 52.1429 weeks per year is $47k/year. 2. In this magical world where you can get 60 hours per week on the clock, you'd also be entitled to time and a half for 20 hours per week, which would actually be $55k/year. You're underselling it here! 3. And if you're talking about two+ 30 hour / week minimum wage jobs: 3a. Chances are you're now in the world where you also don't get employer healthcare. Hooray! 3b. Good luck getting all of your jobs to schedule in such a way that you actually get all 60 hours per week, without getting fired from your second job because of scheduling conflicts with your first.
    - anigbrowl 7y ago
      For real. I was thinking back to this thread earlier today as I realized that ~25 years ago in SF I was making $14 or $15 an hour as a network technician...but my rent (for a large room in a house share) was only about $300/mo. A studio apartment would have been around $5-600 and I think my monthly travel bill was $50 or so. I don't remember enough to think out my whole budget but offhand food was maybe half or 2/3 of what it is now so your blue collar dollar went a great deal farther than it does now.
  - frockington1 7y ago
    Shell out 30k/year on a studio apartment? Get off the caosts and explore America. I spend less than 30k/year on my mortgage for a house and pushing carts at Costco will net you 15/hr
    - albedoa 7y ago
      All of the retail workers should move to middle America. Good plan, econ prof.
- jpindar 7y ago
  Nowadays people are lucky if that entry level retail job will give them 40 hours a week, never mind 60.
  - frockington1 7y ago
    The Affordable Care Act was a blow to entry level workers in that regard. Now its probably more likely to have 2 jobs at 29.5 hours each then one at 40. Maybe the healthcare debates going on can address this

frockington1 7y ago

Learning how to follow rules is exatly how to become rich. Entry level retail store now pays 15/hr. 60 hours at week equates to 48k/year. Hardly unfair

i_haz_rabies 7y ago
Try working for 60 hours a week at minimum wage with kids and let me know how much time you have left to spend managing investments.
- frockington1 7y ago
  So 30 hrs/week for each parent.... ? I personally work ~50-60 hours a week and have plenty of time for investments. It takes around 10 minutes a week to manage, could probably trim that to 10 minutes per quarter
anigbrowl 7y ago
Either you're trolling or extremely naive. $48k/year ain't shit when a) you'll pay some of that back in taxes and b) in places where you can get $15/hour for retail you also need to shell out $30k/year just to have a small studio apartment.
- saalweachter 7y ago
  I would also add: 1. 60 hours per week at $15/hr for 52.1429 weeks per year is $47k/year. 2. In this magical world where you can get 60 hours per week on the clock, you'd also be entitled to time and a half for 20 hours per week, which would actually be $55k/year. You're underselling it here! 3. And if you're talking about two+ 30 hour / week minimum wage jobs: 3a. Chances are you're now in the world where you also don't get employer healthcare. Hooray! 3b. Good luck getting all of your jobs to schedule in such a way that you actually get all 60 hours per week, without getting fired from your second job because of scheduling conflicts with your first.
  - anigbrowl 7y ago
    For real. I was thinking back to this thread earlier today as I realized that ~25 years ago in SF I was making $14 or $15 an hour as a network technician...but my rent (for a large room in a house share) was only about $300/mo. A studio apartment would have been around $5-600 and I think my monthly travel bill was $50 or so. I don't remember enough to think out my whole budget but offhand food was maybe half or 2/3 of what it is now so your blue collar dollar went a great deal farther than it does now.
- frockington1 7y ago
  Shell out 30k/year on a studio apartment? Get off the caosts and explore America. I spend less than 30k/year on my mortgage for a house and pushing carts at Costco will net you 15/hr
  - albedoa 7y ago
    All of the retail workers should move to middle America. Good plan, econ prof.
jpindar 7y ago
Nowadays people are lucky if that entry level retail job will give them 40 hours a week, never mind 60.
- frockington1 7y ago
  The Affordable Care Act was a blow to entry level workers in that regard. Now its probably more likely to have 2 jobs at 29.5 hours each then one at 40. Maybe the healthcare debates going on can address this