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The missing detail is that 99% of people have no access to these wealth creation mechanisms. Having money into the stock market is already a >1% privilege and n
by jiofih 5y ago
The missing detail is that 99% of people have no access to these wealth creation mechanisms. Having money into the stock market is already a >1% privilege and not nearly enough to generate wealth (unless you already have it).
- imgabe 5y ago90% in the world? Maybe. 90% in the US, or most western countries? Certainly not.
- jiofih 5y agoAbsolutely in the west too. What makes you think otherwise? Which opportunities are available for common people that don’t have any safety net?
- imgabe 5y agoYou said 90%. The 90th percentile income in the US is $125,105 / year for an individual[1]. The kinds of things he's talking about include "open an investment account and invest money", say in an index fund. Are you telling me that every single person making under $125k in the US has no access to open an account at Vanguard and buy index funds? I know from personal experience that that is not true. [1] https://dqydj.com/income-percentile-calculator/ https://dqydj.com/income-percentile-calculator/
- jiofih 5y agoAs I said above, investing in an index fund will certainly help you retire earlier or more comfortably, but will hardly build wealth in the way Sahil talks about in the post.
- boring_twenties 5y agohttps://www.pewresearch.org/fact-tank/2020/03/25/more-than-half-of-u-s-households-have-some-investment-in-the-stock-market/ https://www.pewresearch.org/fact-tank/2020/03/25/more-than-h...
- deleted 5y ago[deleted]