3 ms·
Silicon Valley brain is real, folks
by DrillShopper 2y ago
Silicon Valley brain is real, folks
- s1artibartfast 2y agoI thought about saying something snarky, but suffice to say I don't think that socks are a silicon valley invention, and I think you are at a major disadvantage to more flexible/savvy investors. https://www.wealthfront.com/blog/invest-when-rates-rise/ https://www.wealthfront.com/blog/invest-when-rates-rise/
- SR2Z 2y agoYou understand that most Americans (>60%) own stock, right? You're just patronizing everyone who isn't in Silicon Valley with a statement like this.
- DrillShopper 2y ago">60% of Americans own stock" does not tell the whole story. First, how many Americans only own stock as part of their 401(k) or IRA and can't liquidate it without affecting their retirement? Second, how many Americans own stock portfolios with sufficient value that they could liquidate them and purchase a house for cash, as the initial response implied? I guarantee you it's less than 60%.
- s1artibartfast 2y agoHow did I imply that? I'm talking about down payments, paid for by stock sale, 401k, or IRA loans. Maybe I'm crazy and you're right, but I think most people use these vehicles to save for and fund their house purchase, not a regular savings account.
- doubleg72 2y agoNo, retirement accounts are not for saving to buy a house.
- s1artibartfast 2y agoYour loss. They are a good pre-tax investment vehicle. Last I checked you could take $10K out of ira and $50k out of a 401(k) for home down payment or new builds. You have to pay back with interest, but the interest goes to you.