Unpopular Opinions

[Anonymous]

Anonymous wrote:

Anonymous wrote:That the best possible investment people with money in this country could make is a robust social safety net (some form of UI, unemployment benefits, universal healthcare, subsidized childcare, housing for the homeless, and subsidized or free education and job training), paid for via higher taxes.

You can donate your own money to those causes. Or move to Europe.

NP, but of course his/her own money alone won't do anything in the context of social safety nets vs. all the money that would come via higher taxes. So your "suggestion" is nonsense.

That's why instead of "moving to Europe," we will instead stay here and work toward making these things a reality HERE. Thanks ever so.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:That the best possible investment people with money in this country could make is a robust social safety net (some form of UI, unemployment benefits, universal healthcare, subsidized childcare, housing for the homeless, and subsidized or free education and job training), paid for via higher taxes.

You can donate your own money to those causes. Or move to Europe.

NP, but of course his/her own money alone won't do anything in the context of social safety nets vs. all the money that would come via higher taxes. So your "suggestion" is nonsense.

That's why instead of "moving to Europe," we will instead stay here and work toward making these things a reality HERE. Thanks ever so.

But you really aren't working towards anything. You are just posting stuff on the internet. Those things will likely never happen in this country during your lifetime.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:That it’s worth paying an expert .94% to manage my portfolio. (My returns are way, way higher than I was ever able to accomplish on my own and he basically pays for himself and then some).

.94% would be me a brand new luxury car every year. And there are no advisors who consistently beat index funds net of fees.

Wow, your fees are really high! Agree that its worth it to pay an expert. My fees are much lower, perhaps bc the amount under control is higher.

Recommendations?

[Anonymous]

Not everyone should go to college is a myth
The trade schools people refer to are community colleges, require high school diplomas.

[Anonymous]

Anonymous wrote:[b]Not everyone should go to college [b]is a myth
The trade schools people refer to are community colleges, require high school diplomas.

There are accredited trade schools that are completely separate from community colleges. But I think the bolded is a myth because the people who say it are only talking about other peoples’ kids, not their own. They just want to reduce the competition for professional jobs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:[b]Not everyone should go to college [b]is a myth
The trade schools people refer to are community colleges, require high school diplomas.

There are accredited trade schools that are completely separate from community colleges. But I think the bolded is a myth because the people who say it are only talking about other peoples’ kids, not their own. They just want to reduce the competition for professional jobs.

I tried to look into this as it interested me. Maryland doesn't have technical trade schools. A community college can help you get associates in electrical, hvac and plumbing. There are a few hair dressing schools and beauty schools. No so called traditional trade schools.
There are some outside of Maryland, but these are not cheaper than attending a college.

[Anonymous]

There are always extenuating circumstances such as learning disabilities, but I believe the main reasons people don't pursue/finish higher ed are cultural, not financial. There is almost no excuse not to have some higher ed such as an affordable AA degree from a community college or trade school.

[Anonymous]

Compound interest although great on paper is not as valuable as the fun you could have had with it when you were younger.

I regret saving small amounts in my early/mid 20s. The fun you can have with small amounts of money when you are young significantly exceeds it when you are older. I’m in my mid 40s, yeah maybe I have a few hundred thousand more now because I saved in my early 20s but spending that money would have brought more pleasure.

Now I see my parents who just turned 80, they don’t really spend much anymore. Wealth is wasted on the old, it should be the young that have money but the world doesn’t work that way.

[Anonymous]

Most parents who are anxious for schools to reopen are really just ready to unload childcare onto someone else.

[Anonymous]

Anonymous wrote:There are always extenuating circumstances such as learning disabilities, but I believe the main reasons people don't pursue/finish higher ed are cultural, not financial. There is almost no excuse not to have some higher ed such as an affordable AA degree from a community college or trade school.

Interesting
Please expand on this more.

My experience is that learning doesn't end and to stay current you need to continously learn.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:That 529 plans are a good idea.

Dangit meant *aren't a good idea. I think they’re a huge gamble. Both me and my siblings got scholarships and traditional college is less useful than ever. I’ll put my money elsewhere in case life doesn’t follow my scripted plan

529s ARE a terrible idea for the country, as they’re almost exclusively used by upper middle class people who don’t need a tax subsidy to save for their kids’ college educations. Including me; I have been saving aggressively into ours since our kids were born. But it’s totally unfair policywise.

If less people saved in 529s, this country would have a reason to lower college tuition costs because nobody would be able to pay the current rates if they didn’t save.

That's true, but irrelevant for individual actors. It's also true that if the governemnt didn't subsidize student loans, tuition would be a lot cheaper.

This! This is the root of the problem.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:That 529 plans are a good idea.

Dangit meant *aren't a good idea. I think they’re a huge gamble. Both me and my siblings got scholarships and traditional college is less useful than ever. I’ll put my money elsewhere in case life doesn’t follow my scripted plan

529s ARE a terrible idea for the country, as they’re almost exclusively used by upper middle class people who don’t need a tax subsidy to save for their kids’ college educations. Including me; I have been saving aggressively into ours since our kids were born. But it’s totally unfair policywise.

If less people saved in 529s, this country would have a reason to lower college tuition costs because nobody would be able to pay the current rates if they didn’t save.

That's true, but irrelevant for individual actors. It's also true that if the governemnt didn't subsidize student loans, tuition would be a lot cheaper.

This! This is the root of the problem.

Until they lower tuition, people will need subsidized loans to pay it.

[Anonymous]

Compound interest although great on paper is not as valuable as the fun you could have had with it when you were younger.

I regret saving small amounts in my early/mid 20s. The fun you can have with small amounts of money when you are young significantly exceeds it when you are older. I’m in my mid 40s, yeah maybe I have a few hundred thousand more now because I saved in my early 20s but spending that money would have brought more pleasure.

Now I see my parents who just turned 80, they don’t really spend much anymore. Wealth is wasted on the old, it should be the young that have money but the world doesn’t work that way.

I don't know about your parents, but I retired at 60 (and was able to because I save money earlier) and am now spending plenty of money on "stay at home" hobbies during COVID. Fixing up the house is also not cheap. There are also the unknown medical costs of old age. I know that doesn't give "pleasure", but it's a reality and I don't want to burden my children by not having money for that.

[Anonymous]

Anonymous wrote:Compound interest although great on paper is not as valuable as the fun you could have had with it when you were younger.

I regret saving small amounts in my early/mid 20s. The fun you can have with small amounts of money when you are young significantly exceeds it when you are older. I’m in my mid 40s, yeah maybe I have a few hundred thousand more now because I saved in my early 20s but spending that money would have brought more pleasure.

Now I see my parents who just turned 80, they don’t really spend much anymore. Wealth is wasted on the old, it should be the young that have money but the world doesn’t work that way.

I was just thinking something similar. I recently got a very unexpected $75k bonus. I was of course happy for like maybe 2 days, had a nice dinner to celebrate and maybe will buy something nice eventually, moved it all to savings for now. A few days later I was thinking I should have been more excited, just imagining if I had somehow got just one-tenth of that 20 years ago how much more fun I would of had with it.

[Anonymous]

You are a nice relative to try to help.