Are we becoming greedier?

[Anonymous]

Are we becoming greedier? I feel like we are tripping over each other to invest in equities that have been showing unreal returns the past few years.

I'm only 25, so haven't been around long enough to relate to anything similar to what we are witnessing with the mag7

[Anonymous]

I think we are more worried about the future..In my opinion this explains why a lot us are trying to be as rich as possible as quickly as possible.....

[Anonymous]

Who is we?

[Anonymous]

People have been greedy for a long time.

"In 1929, at the height of an economic boom in America, Joseph Kennedy Sr. (father of JFK) was working as a stockbroker on Wall Street. As the story goes, Joseph was walking around when he decided to sit down for a shoeshine. While polishing his shoes, the young worker gave Joseph some of his favorite stock picks. When Joseph heard the shoeshine boy giving out stock tips, he figured the party was about to end, and it was time to get out of the market. Joseph proceeded to exit his positions in the market and bought short positions that bet on the market going down."

https://www.pitzlfinancial.com/blog/ode-shoeshine-boy

We're not going to have a 1929 style crash, and we might not have one at all, but a 5-10 percent downturn, or even larger, wouldn't surprise anyone.

[Anonymous]

You are asking if an American is greedy haha

[Anonymous]

With time, Americans have became more consumerist and participate in the constant chase of getting “more”. Getting to the bigger house and the nicer car is becoming increasingly harder while the obsession with buying material things has never been greater. It’s never enough and with less money flowing people are going to grip tighter or do things that they might not usually do to keep their lifestyle up.

[Anonymous]

Anonymous wrote:Are we becoming greedier? I feel like we are tripping over each other to invest in equities that have been showing unreal returns the past few years.

I'm only 25, so haven't been around long enough to relate to anything similar to what we are witnessing with the mag7

This is just the online culture you’re immersed in right now.

[Anonymous]

I am honestly not sure if greedier is the right word. The goal of saving and investing is growth of capital. More people now believe vs past that stocks are a better investment for their retirement, inheritance goals. Less people believe in bonds, or other alternative investments. It's simple demand and supply. Plus the ease of trading, knowledge of stocks has gone way up. People now understand the equity asset class better. In previous generations it was real estate, gold and cash.

Honestly, I treat S&P diversified funds, VTSAX etc.. over a 10 year period of time as literally a risk free asset. Closer to retirement, would like to keep 2-3 years of basic expenses in cash.

Oh, and I don't trade, just buy and hold index funds.

[Anonymous]

You're 25. You know nothing.

[Anonymous]

You should’ve seen the 80’s!

[Anonymous]

Anonymous wrote:I think we are more worried about the future..In my opinion this explains why a lot us are trying to be as rich as possible as quickly as possible.....

This. I’m glad I have a lot invested because who knows what the future holds as far as jobs for me and my husband and our kids.

[Anonymous]

Anonymous wrote:With time, Americans have became more consumerist and participate in the constant chase of getting “more”. Getting to the bigger house and the nicer car is becoming increasingly harder while the obsession with buying material things has never been greater. It’s never enough and with less money flowing people are going to grip tighter or do things that they might not usually do to keep their lifestyle up.

YES - I’m an elder millennial and peers in my area act like they were forced at gunpoint to take on a mortgage for a $2M, $3M house. Wish people would own their choices more.

[Anonymous]

Anonymous wrote:Are we becoming greedier? I feel like we are tripping over each other to invest in equities that have been showing unreal returns the past few years.

I'm only 25, so haven't been around long enough to relate to anything similar to what we are witnessing with the mag7

People are spoiled by how easy and good life has been the last several decades.

Most people would freak out if they had to live through something like happened in the 1930s or 1800s.

[Anonymous]

Anonymous wrote:
Are we becoming greedier? I feel like we are tripping over each other to invest in equities that have been showing unreal returns the past few years.

I'm only 25, so haven't been around long enough to relate to anything similar to what we are witnessing with the mag7


This is just the online culture you’re immersed in right now.

+1 As you get older the material aspect matters less. That doesn't mean that you don't want to be secure, but you won't care about latest fashion, fancy car, trendy kitchen, new furniture, etc. It's really freeing not to think about that stuff.

[Anonymous]

The rich are getting richer? Is that your questions?

Yes