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I bet they have televisions too, the sheer audacity
by throwaway2048 7y ago
I bet they have televisions too, the sheer audacity
- manigandham 7y agoWhat? The point is that lack of funds for investing is clearly not the problem if they're buying so many lotto tickets.
- throwaway2048 7y agoAnd they have televisions too, other money they spend that they could have spent on investing.
- manigandham 7y agoTrue. Nobody said they had to give up TVs though.
- robjan 7y agoWhat is the volume on lotto tickets vs the stock market. Are you really telling me that someone who spends $2 per week (or whatever your lotto price is) on lotto tickets could afford to create a balanced stock portfolio or even buy one stock? Buy ETFs? The buy in price for SPY is US$329. By the time you saved up enough $2/week to buy one unit of that stock it's already too expensive.
- manigandham 7y agoRobinhood lets you buy for $1 so yes you can start by investing that little. And $2/week from age 18 to 65 will give you $100k by just following the S&P. If you can buy lotto tickets then you can invest, and if you're buying lotto tickets then you're probably wasting other money too.
- robjan 7y agoPlease tell me what extrapolation you are basing this on? Even if you dump all the money into SP500 today and backtest that I can't get close to your figures unless I backtest against the recent bull market only.
- manigandham 7y agoAverage annualized return rate for S&P is about 10%. $8/month x 47 years @ 10% = 100k roughly. Try this: https://www.daveramsey.com/smartvestor/investment-calculator https://www.daveramsey.com/smartvestor/investment-calculator
- deleted 7y ago[deleted]