4 ms·

An advisor gives you emotional support and helps you not fuck it up.

by groundzeros2015 2mo ago

swat535 2mo ago
The problem with giving financial advice to people is that many struggle to pay their rent. Telling them to invest in index funds from an ivory tower is laughably misguided of the realistic situation they live in. After they pay their rent and feed themselves, they may have a little left over which they will simply spend on basic pleasures, or simply rack up debt to get by. The financial advice ignores the fact that we have people like Musk with a net worth of 600M while the rest struggle to afford necessities. The wealth inequality gap is simply too much to ignore and I worry that it will reach a breaking point.
- groundzeros2015 2mo ago
  I don’t know what this has to do with financial advisors. People in that situation are not seeking investment advice.
  - swat535 2mo ago
    > People in that situation are not seeking investment advice Why do you think poor people often fall into get quick rich schemes? You don't think they are seeking advice?
    - groundzeros2015 2mo ago
      You just said they don't have enough money for investments. Why would they pay for an advisor? Can you clarify what you're trying to communicate on the topic of "financial advisors" other than a general class grievance before commenting?
- Pragmata 2mo ago
  >The problem with giving financial advice to people is that many struggle to pay their rent. If you're struggling to pay rent... Your quality of life is too high and you need to reduce it. Straight up. This isn't a wealth inequality issue, it's a "you're overspending" issue.
  - inigyou 2mo ago
    It's illegal to be homeless.
    - Pragmata 2mo ago
      It's not. Regardless i sincerely doubt people in that situation are taking up the least expensive option available.
      - inigyou 2mo ago
        In most places it is.
        Pragmata 2mo ago
        I can assure you, in most places you will not be fined or put in prison for not having a home. In most places the local council, or charities will help provide you shelter even if only on a temporary basis. Your statement is not in line with reality.
        inigyou 2mo ago
        Have you been homeless?
        Pragmata 2mo ago
        I also haven't been a millionaire, but that doesn't mean i don't know how to earn money. Sorry, your appeals to emotion aren't effective, and your arguments do not agree with reality. There is no able bodied person in the US who is unable to save and invest enough of their income to have a decent life. Anyone who tells you otherwise is either lying or ignorant about reality.
        groundzeros2015 2mo ago
        Many people go through a “homeless” period of not having a permanent address. Couch surfing. Motels etc. It’s not fun. It’s very stressful. Our systems have a positive feedback loop against financial instability. However there is another category of homeless which is a person pushing a shopping cart on the side of the road. And this is an exteme level of dysfunction and despair. I saw a tweet that summarized this issue as “you’re as likely to become a CEO or NBA player as you are to become homeless.” Meaning that it’s a track of genetics and behavior resulting in dysfunction several standard deviations away from normal.
- inigyou 2mo ago
  The EFF: "Uyghurs in China can use PGP to protect their communications from the government." Some Uyghur in China: "There's a government representative who lives in my house and watches over my shoulder whenever I use technology."
  - groundzeros2015 2mo ago
    Nowhere is anyone saying this. Yes if you’re poor you are not in the market for a financial advisor. You’re also not in the market for a dentist or family doctor. These are services for middle class people. This is not a thread about class grievance.

An advisor gives you emotional support and helps you not fuck it up.

The problem with giving financial advice to people is that many struggle to pay their rent. Telling them to invest in index funds from an ivory tower is laughably misguided of the realistic situation they live in. After they pay their rent and feed themselves, they may have a little left over which they will simply spend on basic pleasures, or simply rack up debt to get by. The financial advice ignores the fact that we have people like Musk with a net worth of 600M while the rest struggle to afford necessities. The wealth inequality gap is simply too much to ignore and I worry that it will reach a breaking point.

groundzeros2015 2mo ago
I don’t know what this has to do with financial advisors. People in that situation are not seeking investment advice.
- swat535 2mo ago
  > People in that situation are not seeking investment advice Why do you think poor people often fall into get quick rich schemes? You don't think they are seeking advice?
  - groundzeros2015 2mo ago
    You just said they don't have enough money for investments. Why would they pay for an advisor? Can you clarify what you're trying to communicate on the topic of "financial advisors" other than a general class grievance before commenting?
Pragmata 2mo ago
>The problem with giving financial advice to people is that many struggle to pay their rent. If you're struggling to pay rent... Your quality of life is too high and you need to reduce it. Straight up. This isn't a wealth inequality issue, it's a "you're overspending" issue.
- inigyou 2mo ago
  It's illegal to be homeless.
  - Pragmata 2mo ago
    It's not. Regardless i sincerely doubt people in that situation are taking up the least expensive option available.
    - inigyou 2mo ago
      In most places it is.
      - Pragmata 2mo ago
        I can assure you, in most places you will not be fined or put in prison for not having a home. In most places the local council, or charities will help provide you shelter even if only on a temporary basis. Your statement is not in line with reality.
        inigyou 2mo ago
        Have you been homeless?
        Pragmata 2mo ago
        I also haven't been a millionaire, but that doesn't mean i don't know how to earn money. Sorry, your appeals to emotion aren't effective, and your arguments do not agree with reality. There is no able bodied person in the US who is unable to save and invest enough of their income to have a decent life. Anyone who tells you otherwise is either lying or ignorant about reality.
        groundzeros2015 2mo ago
        Many people go through a “homeless” period of not having a permanent address. Couch surfing. Motels etc. It’s not fun. It’s very stressful. Our systems have a positive feedback loop against financial instability. However there is another category of homeless which is a person pushing a shopping cart on the side of the road. And this is an exteme level of dysfunction and despair. I saw a tweet that summarized this issue as “you’re as likely to become a CEO or NBA player as you are to become homeless.” Meaning that it’s a track of genetics and behavior resulting in dysfunction several standard deviations away from normal.
inigyou 2mo ago
The EFF: "Uyghurs in China can use PGP to protect their communications from the government." Some Uyghur in China: "There's a government representative who lives in my house and watches over my shoulder whenever I use technology."
- groundzeros2015 2mo ago
  Nowhere is anyone saying this. Yes if you’re poor you are not in the market for a financial advisor. You’re also not in the market for a dentist or family doctor. These are services for middle class people. This is not a thread about class grievance.