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Investing - Theory, News & General • The number one reason why investors fail

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I convinced, spend less than your earn. One day you will be fine.
Yup! That's all it takes. So simple. Why, then, do the statistics look so bad? I mean, 67% of Americans are living paycheck to paycheck. Just, wow!
Because people live in the here and now and are used to instant gratification. Planning for the future requires sacrifice in the here and now and people don't want to hear about it or, god forbid, do it.
25% of American workers earned less than $15/hr in 2021 (pre-inflation). Federal minimum wage is still $7.25/hr (for the last 13+ years), and 20 states + DC do not have a state minimum wage higher than that. What are those people supposed to sacrifice? Housing?

Besides, the younger generation is smart enough to know there's no future for them. Sacrifice for what now?
50% of Americans making over $100k/yr are living paycheck to paycheck. I've always said "unless you're a family of 4, living below the poverty line, you can save money. It doesn't matter how much, you can save". I love it when people say "I just can't save money, can't afford to". What they really mean is, I can't afford to save money AND lease my new BMW every three years, AND have all of my streaming channels, AND get my new iPhone every time a new one comes out, AND eat out 4 nights a week and lunches every day, AND live in this house I can't really afford.

Statistics: Posted by meowcat — Wed Feb 21, 2024 5:08 am — Replies 57 — Views 10344



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