In a relatively short time it won't matter if you had a lot of money or were very poor or if you retired late or retired early because we will all be in the same position: being dead. Not long after that we will all be forgotten as if we had never lived.
The Poor the Wealthy and the Middle Class
by Simon 44 Replies latest social current
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Fisherman
if they'd thought to invest
Investment comes with a risk. The middle class doesn’t understands how investment works or even how or where to invest, or the middle class may not want to take the risk and feel it safer to save but given the opportunity, they may invest. But even when they do, most will never get rich. Sure, the investment can make people more money but not tons of it because you need to know what your are doing, it is risky and it ain’t easy. Regarding the poor, they live for today and it is easy to spend free money on 500 dollar sneakers made in Asia. That is the nature of the beast and why the poor will always be poor. Even with opportunities, they choose the life from hand to mouth because that is the way some people are. The rich have extra money and can afford to take a chance on investment or they just have extra money that they put to work for them whereas the middle class doesn’t have all that extra money that they can dedicate to investment. But everything considered it depends on the type of individual whether they have that drive to invest.
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hoser
The middle class spend too much time and money being middle class. It costs money and takes time to maintain social status. That’s why they are going nowhere financially.
It is much like being a Jehovah’s Witness in good standing. You have to do all the right things(aux pioneer, be elder, go to international conventions) to keep your status. This keeps them tired and broke.
Every society needs slaves and that’s what the little people are. It’s rigged up to use our human nature against us to keep us on the treadmill all the while thinking we are free and somehow better than the next guy who lives in a little bit smaller house than we do.
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Simon
The middle class doesn’t understands how investment works or even how or where to invest, or the middle class may not want to take the risk and feel it safer to save but given the opportunity, they may invest.
Too many people "invest" in the products that the finance industry has created to extract them from their money. What appear to be low fees can really eat away a huge proportion of your investment growth - the finance industry gets rich, you just get by.
Well worth a watch:
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road to nowhere
One thing to consider is average. If .middle is average it cannot change we tend to call ourselves middle class when actually some of us are working class, others well off but not really rich. Consider the custodian/janitor versus the horsey set. I wonder if I won lotto would I really buy a rolls, have a butler, or even know how to behave
Around here the average home is half a million, but the qualifying wage is above average. I tend to think adequate is a better goal. 3 car garage, 5 bed rooms 4 baths are more than most grew up in. Add in that some people are incapable of maintaining a home.
Health is a real happiness ingredient.
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FedUpJW
Proverbs 13:22 is a really profound verse that says, 'a good man leaves an inheritance to his grandchildren.'
The JW's will spin that to mean only a "spiritual" inheritance with an Awake mag college edumakayshun though!
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Simon
Consider the custodian/janitor versus the horsey set. I wonder if I won lotto would I really buy a rolls, have a butler, or even know how to behave
Most people who come into sudden wealth don't change their taste, they buy more of the things they already wanted to buy. Effectively turning their current lifestyle up to 11.
There are many things that I wouldn't buy, even if I could, because I see no inherent value in them. I wouldn't want a 50,000 sq ft house, because it just wouldn't suit my lifestyle ... but a comfortable amount of space so I can have a room for whatever hobby? Sure, why not.
The bottom line is that people who are reckless with money who suddenly acquire a lot (e.g. a lottery win) just waste it, because that is what they have always done with their money. Other people would save and / or invest because they was what they did when they has more modest amounts.
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Fisherman
Well worth a watch:
Agree. Enjoyed watching the vid. Like getting ready to go to bed with someone you are in love with and getting hit with a bucket of iced water.
The deception lies in believing that you are saving money for your retirement: by “putting it in” to —a 401K for example when actually you are investing your money and led to believe you are going to make a lot more. But the focus is on saving money to retire. And that is the sophistry that lures people into investing their money believing that they are safely putting their money into some account. But a man hears what ge wants to hear and disregards the rest when being informed before they dish out their cash into these pockets.The question to ask beforehand is: At the end on the day what profit am I guaranteed to make?
The vid uses the words investment and savings interchangeably to describe these so called retirement plans with brand names such as 401 —which according to the vid, these so called retirement plans are disguised schemes to borrow money from you for free, fooling you into believing that you are safely saving your money by putting in into an account, a retirement plan that you are investing in as if you are investing in your retirement but as it turns out, you are lending your money for peanuts.
Getting back to your original post, Middle class don’t view “retirement plans” ( I hate these palatable labels) as investment but as savings for their retirement. They usually don’t invest so they are conned into it with these schemes with fancy words and labels and sophistry and are duped into lending their money for free. Had they thought about it, as you posted, they could have really invested their money. You mentioned 3 classed of people but there are in actuality 2 kinds of people: those who invest and those who don’t and the middle class don’t invest, they are hoodwinked into lending their money for free.
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pistolpete
Fisherman
retirement plans with brand names such as 401 —which according to the vid, these so called retirement plans are disguised schemes to borrow money from you for free,
One of the things I did when I finally moved into a house, is I bought one acre of land and built a big storage unit to put some of my stuff in. Just as I had finished the storage unit, paved the place, and fenced the acre, some guy stopped by and asked if he could rent the unit.
I had no idea what the heck was going on. He said, "I'll give you 10k for the year if you let me store some stuff in there. I asked what kind of stuff considering units about one third the size of mine ran for just 40-50 dollars a month in other places. He could have rented two or three and paid less.
He said, he had some bronze Art figures that he could sell for a hefty price, and liked the fact that i had an 8 foot fence and a camera, and the area was new, and paved. So I thought about it and figured with the 10k I could just build another unit or UNITS.
I built another unit and someone also stopped and asked if they could rent it.
I built 40 units in about three years and sold the place for more money than I could ever make in a 401K.
It dawn on me that I lived in a Country that made it possible to be as rich as you wanted. Just don't let others handle your money. Work hard at Getting smart, get knowledge, and use your own money to make money.
For some reason that place sold a couple of times until finally some industrial company bought it and tore all the units down, and made some kind of industrial salvage company on it.
People do strange things.
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Fisherman
Work hard at Getting smart, get knowledge, and use your own money to make money.
Correct. And look for opportunities and seize the opportunity as you did. The rule is that the greater the risk, the greater the the returns —but you always need to factor in risk. I don’t take risks. In hindsight, I wish I had. I only invest and have always invested when the risk is zero or very close to it. When you know that at the very least you break even.