The Poor the Wealthy and the Middle Class (page 2)

hoser

The system is set up to keep people poor. The system needs the working class poor. If every last member of the poor caste figured out that instead of squandering their money on Nike shoes they should buy Nike stock the share price would suffer as there would not be as many shoe sales.
Poor people are easier to control. Keep them so busy on the work treadmill and throw them the odd crumb of government handouts and entertainment that they are just too tired to think about how badly they are treated.

WokenfromJWcult

J Paul Getty once said (I only heard this from a long time ago) "Money doesn't buy happiness, maybe unhappiness."

FedUpJW

The profits are also reinvested. The thing that stops most people is they fact that it takes twenty years or so for this to start showing significant gains.

Compounded interest is a wonderful; thing, the longer one can collect it. Another thing that helps is, as my dad used to say, "Live below your means." Just because you have a dollar does not mean you need to spend it. It was investing as much as I could at any given time in a 401k, and not trying to spend or borrow my way to wealth that enabled me to retire, comfortably, before I was 50 years old.

Sigfrid Mallozzi

Warren Buffet said about investing, "It's time IN the market not "timing the market". I've read many books on the stock market, i.e. the pump and dump games the big boys play, stock market history, and books on stock market crashes. YouTube is a good source to hear Warren Buffet address university students with excellent advice.

J. L. Collins has an excellent book for the masses not knowing the first thing about investing. "The Simple Path to Wealth: Your road map to financial independence and a rich, free life". You don't need to buy it, the point of the book is to: buy the Total Stock Market Index Fund from Vanguard and contribute to it regularly and forget about it. Vanguard has an ETF available for small investors. The reason behind buying Vanguard funds is that the management "load" is the lowest in the industry. Technology funds and the S & P 500 are great funds to buy.

https://investor.vanguard.com/etf/profile/vti

I subscribe to Barron's, The Wall Street Journal, and "The Business Insider" business magazines online, and occasionally the Motley Fool. I have a friend and we will share information. He told me that there were four mature women that would each read business articles and they would meet and discuss what they learned and they are now wealthy off of their investments. Instead of keeping up with social media, I read business articles. I also listen to Fox Business News in the morning with Marie Bartiromo and then Stuart Varney and they have occasionally had some great tips. Wouldn't it be cool if we could get some individual investment going here like the Wall Street Bets gang!

Sigfrid Mallozzi

Simon, this last year I didn't see poor people purchasing Nike shoes, I saw them carrying several boxes at a time out of shoes while looting.

Brock Talon

I'm not so convinced about the "Money does not buy happiness" saying. I posted on this issue a number of years ago when I saw an article based on a study that seemed to indicate the opposite of that. It is certainly a complex issue. Check this out if you want more details:

See: https://www.jehovahs-witness.com/topic/286523/does-money-buy-happiness-longer-life-you-decide

Bottom line: while money does not guarantee happiness, it can certainly help.

Maybe the saying should go like this: Money doesn't buy happiness, but it can rent it.

DATA-DOG

There’s no virtue in being poor. I hate the idiot GB who brainwashed simple folks to be content with the basics while they lived like Kings, never worrying about food, clothing, shelter or healthcare.

Also, I agree the system is rigged against the common man. The Elite need the poor to exploit or they won’t be rich anymore. This will continue until Robotic workers can replace nearly all human workers, then the population will be massively reduced and the Elite will rule over the remaining useful and extremely surveilled population. Screw up and you lose your Metaverse privileges.

DD

DesirousOfChange

J Paul Getty once said (I only heard this from a long time ago) "Money doesn't buy happiness, maybe unhappiness."

Guess he died a very unhappy billionaire.

But, did you notice that he did NOT give all of his money away to charity? So, I think he decided he'd rather be rich and unhappy vs poor and whatever.

Simon

"Money can't buy happiness" is so misunderstood and often misused.

The poor use it as a kind of "well I didn't want it anyway" sulk - y'know like "bitter (not bitter)"

The rich use it to diminish the real value of it, to take the heat of themselves, insinuating that they are not happy (if they are not, having money is unlikely the source of it).

The reality is that money can't buy happiness but it can buy all the things you need to be happy, and especially avoid the stress and worry about money that often makes people unhappy.

JeffT

Money can't buy happiness, but it can make the down payment.

The Poor the Wealthy and the Middle Class

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