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Most of my family and extended American family doesn’t really invest. I think probably 10% of us “believe” in the stock market. The rest sometimes buy houses (w
by pinkmuffinere 1y ago
Most of my family and extended American family doesn’t really invest. I think probably 10% of us “believe” in the stock market. The rest sometimes buy houses (which I encourage because it’s better than nothing), but otherwise are planning on social security, pensions, and lump-sum savings to cover their retirement
- koakuma-chan 1y ago> social security, pensions, and lump-sum savings Isn't that very little money?
- dragonwriter 1y agoWhile defined-benefit pensions are less and less common, they may not be small.
- pinkmuffinere 1y agoIn short, yes, but my family is very cheap, so it is doable with sacrifice. I think I'm middle class (or maybe upper-middle?) now, but I think I'm the first generation that can say that. And even I rented closets, garages, and spaces behind TV's until about 4 years ago, lol.
- koakuma-chan 1y agoCongrats on making it!
- unmole 1y ago> Most of my family and extended American family doesn’t really invest. I think probably 10% of us “believe” in the stock market. ~62% of US adults own stocks: https://news.gallup.com/poll/266807/percentage-americans-owns-stock.aspx https://news.gallup.com/poll/266807/percentage-americans-own...
- pinkmuffinere 1y agoMost of my family is farmers or missionaries, and I bet those groups are less likely than most to own stocks. Also, 'owning stocks' vs 'investing' feels different to me. My brother will go all in on tesla for one year, and then pull out and just sit there until he has another somewhat-random impulse. Likewise, my dad used to put all his money into some index funds for the 30 days leading up to Christmas, because 'the government always makes the stocks go up during the holidays, to keep everybody happy'. They count as 'owning stocks' (at least sometimes), but I don't feel they count as 'investing'.