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Americans earning less than $40,400 are generally unable to throw $2k into SPY, so while it’s a nice sentiment that it’s ‘fair’ because lower income people get
by tchock23 4y ago
Americans earning less than $40,400 are generally unable to throw $2k into SPY, so while it’s a nice sentiment that it’s ‘fair’ because lower income people get breaks, it’s not quite the reality.
https://outsider.com/news/many-americans-making-less-than-50k-say-their-savings-cant-cover-one-month-expenses-survey/ https://outsider.com/news/many-americans-making-less-than-50...
- refurb 4y agoWhat do you mean "throw $2k in SPY"? Why not throw $200 per year ($18/month) for 10 years? My brother is single and has accumulated a significant nest egg and has never made more than $50,000 his entire life. And a married couple making $90,000 per year could invest $1,000 per year in SPY, then when the wife quits to stay home with the kids, the family could pull out $20-30k per year in long-term capital gains completely tax free.