Money Hamster Wheel

[Anonymous]

Anonymous wrote:You upgraded your lifestyle when making more money instead of investing and having your money work for you.
You can still change it. Downgrade your lifestyle, invest the extra money you have now and then get a work-life balance job.
Don't tell me how expensive everything is. I have never made over $50k in DC and I live very well. I also work part time in low stress job.

Yeah and what you’re not telling us is that you’re either married to a high earning spouse or you have family money. No one with a family to provide for can “live very well” on a household income of $50k, especially in DC.

The lies!

[Anonymous]

Anonymous wrote:All, I have anxiety and depression, and also a very high IQ. I have worked so hard for 18 years since graduating college and finally hit the executive level. I did this for money.
I had to pay student loans, my mom did not have any retirement funds, and then I had kids so childcare and housing in DC is atrocious.

I had medical issues 4 years ago and have finally starting bouncing back, but the level of stress at my job is too much. But I want and need the money! Plus, with inflation my money anxiety is spiking high!!

What do I do here? Wealthy earners who did it yourself- what is the secret to longevity and endurance in earning (and keeping!) good money.

Thanks!

Stay consistent with taking your medication, and speak with your doctor if it stops working for you.

Secondly, make your money work for you. Invest in index funds, as often as you can. I like Vanguard, Fidelity and T Rowe Price.

Also use your money to make your life as comfortable and stress free as possible. Hire the cleaners and babysitters or nannies. Get a meal delivery service or hire a cook. Hire a good yard guy. Reliable help can bring tremendous ease to your life and free up your time and mental space.

Third, be intentional about time off. schedule a quarterly vacation either by yourself, with family or with friends. Devote time to just being you, not the mom or worker or wife, but just you and what you enjoy. Meet up with friends and family monthly.

I do all of the above and my stress levels are very manageable. I hope you find the solution that works for you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
I bought AAPL when it was cheap.
It's hard to guess what the next Apple is (maybe there isn't one), but I advise investing long-term in the magnificent 7.

So many people hyperfocus on salary and ignore their investments. You hardly ever get rich with salary alone, OP.

What is magnificent 7?

Apple (AAPL)
Amazon (AMZN)
Alphabet (GOOGL)
Microsoft (MSFT)
Meta (META)
Tesla (TSLA)
Nvidia (NVDA)

You need to find the Magnificent 8th if you want to get rich. That's the real trick.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
I bought AAPL when it was cheap.
It's hard to guess what the next Apple is (maybe there isn't one), but I advise investing long-term in the magnificent 7.

So many people hyperfocus on salary and ignore their investments. You hardly ever get rich with salary alone, OP.

What is magnificent 7?

Apple (AAPL)
Amazon (AMZN)
Alphabet (GOOGL)
Microsoft (MSFT)
Meta (META)
Tesla (TSLA)
Nvidia (NVDA)

You need to find the Magnificent 8th if you want to get rich. That's the real trick.

This made me smile. Thank you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You upgraded your lifestyle when making more money instead of investing and having your money work for you.
You can still change it. Downgrade your lifestyle, invest the extra money you have now and then get a work-life balance job.
Don't tell me how expensive everything is. I have never made over $50k in DC and I live very well. I also work part time in low stress job.

Yeah and what you’re not telling us is that you’re either married to a high earning spouse or you have family money. No one with a family to provide for can “live very well” on a household income of $50k, especially in DC.

The lies!

I’m the AAPL poster and I have that relaxed lifestyle. I invested early. No family money. Spouse invested too - he helps his family, not the other way round.

It happens.

[Anonymous]

Anonymous wrote:
I bought AAPL when it was cheap.
It's hard to guess what the next Apple is (maybe there isn't one), but I advise investing long-term in the magnificent 7.

So many people hyperfocus on salary and ignore their investments. You hardly ever get rich with salary alone, OP.

This is why most people should not buy individual stocks: “You should buy the Magnificent Seven at sky-high valuations because they’ve done extremely well in the last decade!”

Do you know what happened the last time tech stocks did extremely well (the dot-com boom)? The same stocks – as measured by the NASDAQ – dropped by 82%! Also, all the trends from the 90s reversed themselves over the next decade: international stocks outperformed US stocks, gold rose by 500% after not doing much previously, etc.

How are you going to feel if your tech stocks drop by 82% over the next few years?

[Anonymous]

Yeah, I stick to SP500. To make it big with a single stock is a big gamble because it still requires outsize investment. I also invested in the Google,Amazon and Apple a long time ago in early 2000s, but it was only about 15K, now it is 200k so nothing life changing. I was young then and did not have any gambling money of significance available, but I doubt that today I would invest a couple 100k in a single entity with uncertain return even though we are comfortable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
I bought AAPL when it was cheap.
It's hard to guess what the next Apple is (maybe there isn't one), but I advise investing long-term in the magnificent 7.

So many people hyperfocus on salary and ignore their investments. You hardly ever get rich with salary alone, OP.

This is why most people should not buy individual stocks: “You should buy the Magnificent Seven at sky-high valuations because they’ve done extremely well in the last decade!”

Do you know what happened the last time tech stocks did extremely well (the dot-com boom)? The same stocks – as measured by the NASDAQ – dropped by 82%! Also, all the trends from the 90s reversed themselves over the next decade: international stocks outperformed US stocks, gold rose by 500% after not doing much previously, etc.

How are you going to feel if your tech stocks drop by 82% over the next few years?

The tech stocks I have won't drop that much. I expect them to fluctuate. But the fundamentals are very strong, and barring an act of God, after which nothing will matter anyway, the technologies I invest in are here to stay, and the companies I picked are the best positioned to get their needle out of the haystack. You clearly don't know what you're talking about, PP. The dot.com bubble was the birth of the commercial internet. It had nothing to do with the products sold by companies, it was the new way of selling (through the internet) that was a wild ride. And it's not the last time tech has done well. Tech has always done well, maybe you weren't paying attention and didn't focus on quality R&D and products.

You've got to have some industry knowledge to invest successfully. I have it, for high tech. I'm not going to invest in something I don't know about, like food conglomerates or freight corporations. And I learned my lesson for biotechs (stay away).

Feel free to rant while I live my nice life.