@Ozzie
Hmm. I was using that as an example. There are a LOT of things I do without … not to invest … just to survive. Like medical care, enough food, raising my heat where I’m comfortable in the dead of winter, doing my own hair and sewing my own clothes. Among other things.
I prepare all of my own meals and take a packed lunch. I have a deep freeze, a bread machine, and a garden.
Entertainment? I work. I do a lot of freelancing when and where I can.
Yes, a car is an awful expenditure. I also have two ebikes and a regular one. I work too far for anything but the car and the upgraded ebike I was forced to buy. No buses come out here either.
WFH? That’s a dream. One I would love to realize. Just like regular jobs, you’ve probably never had a company love your resume, love the conversation, and then get bug-eyed when you walk in the door or open your Zoom. Anyone who says that racism and/or sexism does NOT keep qualified people out of jobs is stupid or a liar. My “favorite” was the WFH virtual office position. Took my resume … liked it, looked up my links and skills … liked them enough to offer a “tentative” position. THEN said “Please upload a picture so we can see who we’re working with”. Next thing I know, I’m getting a polite little “we’re sorry, but we don’t feel this is a good fit” email.
@Sky
I know you muted this, but in case you see it, I’m sorry you’re frustrated and unappreciated, internet stranger. I grew up in the south and the racism is rampant and exhausting. And there’s plenty of it everywhere else, too. That’s awesome that you’re writing a book. I want to do that too, one day, but you’re actually doing it and that’s freaking cool. Anyway, hope you feel better eventually. Screw the haters. Best of luck.
@Ozzie
You don’t deserve downvotes. This is great. Thanks for spending the time.
I think people are upset because they want only passive income tips for poor people and nothing else. But saving is super important too. And also rich people like passive income as well.
@Sky
True. Since I am not a US citizen, I won’t be able to comment on the lack of minimum wage as this is a political choice. Similarly, I won’t be able to comment on upward mobility. Look into relocating into states with better opportunities, upgrading your skills, and/or exploring alternative career options.
@Nico
No harm intended, but I’m really, really, REALLY tired of hearing “relocate, reeducate … Etc, etc”. This is also political here in the US. If you are a woman or a POC (and don’t be both!) you are less likely to be ALLOWED to do any of those things, hence the crazy election(s) we are having right now. THAT is why much of this “all you have to do is save/invest” advice is so off.
How so? You can start with any amount and keep on doing it for years.
Prove it by example.
It’s basic investment advice. There are many sources online and on Reddit for this. Not to mention multiple online simulators.
Basically, you contribute monthly and after years (usually, it refers to 30 years), you should have a sizeable return.
Just look up the S&P performance over the last 30 years. There is a caveat, however: during certain periods of time, say 2000 to 2010, the S&P went nowhere.
How so? You can start with any amount and keep on doing it for years.
Prove it by example.
Well, start small. Can you save $1 this week? If not, figure out how. If so, do that. Then, evaluate weekly and increase that amount. And if your response is “well, $1 doesn’t mean anything!” my response is that’s like saying it isn’t worth exercising today because you aren’t already jacked. Something is better than nothing. And if you can increase that savings to $100 per week, you can invest that into an S&P index fund, which historically averages around 10% returns. $400 invested per month for 30 years at 10% return would be $825,000. So, you can keep complaining. Or, you can get started.
Lex said: @Phoenix
Thank you for admitting you’re wrong by forfeit.
If you can increase that savings to $100 per week, you can invest that into an S&P index fund, which historically averages around 10% return. $400 invested per month for 30 years at 10% return would be $825,000. So, you can keep complaining. Or, you can get started.
