Has the roaring stock market really helped the average Joe?
- Thread starter ZZman
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Yes.
I know a guy that made a few million these past 10 years in the market.
He made some risky investments that has paid off from this decade bull run. Technology companies were his core holdings.
I know a guy that made a few million these past 10 years in the market.
He made some risky investments that has paid off from this decade bull run. Technology companies were his core holdings.
It helps from a 401K standpoint, depending on one's portfolio.
In a nutshell, if you are in the market, you have done well since 2008.
About 50% of American families own stock, mainly in mutual funds.
84% of the market is owned by the top 10% of Americans.
9.3% by the next 10%.
6.7% by the bottom 80%.
Bottom line is, most Americans do not have a real stake in the stock market.
Personal finance needs to be taught in high school.
If a person invests in a nice indexed mutual fund at an early age and continues to invest, they will be way ahead of the game.
In a nutshell, if you are in the market, you have done well since 2008.
About 50% of American families own stock, mainly in mutual funds.
84% of the market is owned by the top 10% of Americans.
9.3% by the next 10%.
6.7% by the bottom 80%.
Bottom line is, most Americans do not have a real stake in the stock market.
Personal finance needs to be taught in high school.
If a person invests in a nice indexed mutual fund at an early age and continues to invest, they will be way ahead of the game.
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Yeah, I've been in the game for a couple decades. Returns over the last 10 years have been phenomenal, at least for me. Took a good beating in 2008 and also in the dot com bust. But I run into lots of people these days that have nothing in the market. I started out just by investing 100-200 a month in mutual funds. Increased it as my income grew and always maxed out IRA's/401ks.
I just think to the old saying, of course the game is rigged, but if you don't play, you can't win.
I just think to the old saying, of course the game is rigged, but if you don't play, you can't win.
Just as savings rates started to rise from lousy to just tolerable at 2 - 2.5%, they have started to drop back down again. ARRGH. Not risking it on the stock market.
Kestas
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The odds are certainly better than a casino or the Lotto.
Originally Posted by JeffKeryk
Personal finance needs to be taught in high school.
I've heard talk more than once that finance should be taught in high school, maybe instead of Algebra 2. Back then I didn't know, but I was always curious how the simple things worked, like checkbooks, mortgages, and credit cards. It would be nice to introduce kids to income taxes.
Originally Posted by JeffKeryk
Personal finance needs to be taught in high school.
I've heard talk more than once that finance should be taught in high school, maybe instead of Algebra 2. Back then I didn't know, but I was always curious how the simple things worked, like checkbooks, mortgages, and credit cards. It would be nice to introduce kids to income taxes.
+16% this year on my stocks = yes. It has really helped if you bought decent stocks. Ed
I've done fairly well on my 401K, but I just haven't had enough confidence in the market's long term strength to put everything in it. Sad thing is, too many (if not most) working people spend everything they make (or more), and just don't have the financial discipline to NOT buy that new car on credit, or pay off those CC bills every month. I thank the Man upstairs that I've stayed mostly healthy (turned 55 this year), and have managed to scrounge together quite a bit. No danger of this moose retiring anytime soon, though, one major illness for me or Mrs. Bullwinkle, that cash would disappear pretty quickly.
Yes, for those who are smart enough to manage their finances, the market has been phenomenal. For those who choose not to invest, they've done well in the employment market. And in this economy, if you choose not to invest and can't manage to get a good job, then chances are there's nothing that can help you out.
+1 bullwinkle. My philosophy also. No cars I can't pay cash for and no CC interest . I'm 81 years old and no financial concerns to date. Ed
Originally Posted by ZZman
Originally Posted by Alfred_B
Yes if they are in the game.
But the majority really aren't in the game. The top 10% own 85% or so of all stocks.
Then you already have your answer.
Why even start the thread?
Trolling again?
Originally Posted by Alfred_B
Yes if they are in the game.
But the majority really aren't in the game. The top 10% own 85% or so of all stocks.
Then you already have your answer.
Why even start the thread?
Trolling again?
Originally Posted by Astro14
Originally Posted by ZZman
Originally Posted by Alfred_B
Yes if they are in the game.
But the majority really aren't in the game. The top 10% own 85% or so of all stocks.
Then you already have your answer.
Why even start the thread?
Trolling again?
I think it was a reasonable question, although what is not really helping the average Joe is a bunch of other issues with how the economy is structured.
If those issues were fixed, I think the stock market would do just as well.
Originally Posted by ZZman
Originally Posted by Alfred_B
Yes if they are in the game.
But the majority really aren't in the game. The top 10% own 85% or so of all stocks.
Then you already have your answer.
Why even start the thread?
Trolling again?
I think it was a reasonable question, although what is not really helping the average Joe is a bunch of other issues with how the economy is structured.
If those issues were fixed, I think the stock market would do just as well.
Originally Posted by Wolf359
Yeah, I've been in the game for a couple decades. Returns over the last 10 years have been phenomenal, at least for me. Took a good beating in 2008 and also in the dot com bust. But I run into lots of people these days that have nothing in the market. I started out just by investing 100-200 a month in mutual funds. Increased it as my income grew and always maxed out IRA's/401ks.
I just think to the old saying, of course the game is rigged, but if you don't play, you can't win.
Helped this old guy and working wife - with very middle class jobs - retire with 7 figures in the 401 and brokerage.
I too was beat down by the drop at end of 2008, but I put all chips in.
Economy was either was going to recover or we would all be in the bread line.
That's fine too ... I love leftover pizza crusts
2018 was flat and a bummer. 2019 a bit rocky, but way better as YTD S&P500 gains have been almost 23%
I pulled the plug last month and I'm only about 20% equities currently.
I'm a poor guy in a drafty pine log cabin on a hill in the woods. We live pretty conservative compared to most anyone.
Yeah, I've been in the game for a couple decades. Returns over the last 10 years have been phenomenal, at least for me. Took a good beating in 2008 and also in the dot com bust. But I run into lots of people these days that have nothing in the market. I started out just by investing 100-200 a month in mutual funds. Increased it as my income grew and always maxed out IRA's/401ks.
I just think to the old saying, of course the game is rigged, but if you don't play, you can't win.
Helped this old guy and working wife - with very middle class jobs - retire with 7 figures in the 401 and brokerage.
I too was beat down by the drop at end of 2008, but I put all chips in.
Economy was either was going to recover or we would all be in the bread line.
That's fine too ... I love leftover pizza crusts
2018 was flat and a bummer. 2019 a bit rocky, but way better as YTD S&P500 gains have been almost 23%
I pulled the plug last month and I'm only about 20% equities currently.
I'm a poor guy in a drafty pine log cabin on a hill in the woods. We live pretty conservative compared to most anyone.
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Originally Posted by ZZman
Originally Posted by Alfred_B
Yes if they are in the game.
But the majority really aren't in the game. The top 10% own 85% or so of all stocks.
Who's fault is that? You can't be in any financial "game" if you don't own what it takes to play. Be it real estate, stocks, bonds, or precious metals.
Originally Posted by Alfred_B
Yes if they are in the game.
But the majority really aren't in the game. The top 10% own 85% or so of all stocks.
Who's fault is that? You can't be in any financial "game" if you don't own what it takes to play. Be it real estate, stocks, bonds, or precious metals.
Most of any $$ I have made in stocks goes back into our farm, equipment, parts, fertilizer , seed etc. So it does have a trickle down effect and help the average Joe that works at the feed store or John Deere dealership.
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