Unpopular Opinions

[Anonymous]

What's an unpopular opinion you have in regards to money or personal finance?

Mine is that, contrary to the common (?) belief that people who have fancy lifestyles must be "swimming in debt", the majority of people living like that can afford it. In general, people make more or have much more money than you think, and if you think you are behind relative to your peer group, it's because you probably are.

[Anonymous]

Anonymous wrote:What's an unpopular opinion you have in regards to money or personal finance?

Mine is that, contrary to the common (?) belief that people who have fancy lifestyles must be "swimming in debt", the majority of people living like that can afford it. In general, people make more or have much more money than you think, and if you think you are behind relative to your peer group, it's because you probably are.

DCUM people are way too conservative, from investment choices, to debt leverage, to oversaving for retirement

[Anonymous]

“Paying off mortgage is stupid“ comes to mind

[Anonymous]

Maxing out every possible retirement vehicle is really not necessary for most people, even people who can easily afford it.

[Anonymous]

People who have money to spare and pay off low-interest debt in full/early. Not a great use of capital.

[Anonymous]

People who put enormous amounts into savings accounts and don’t bother with non-retirement brokerage accounts. That 300k at 1% (if you’re lucky) is doing no work for you

[Anonymous]

Anonymous wrote:“Paying off mortgage is stupid“ comes to mind

+ 1

[Anonymous]

You shouldn't consider your primary home an investment. With maintenance costs, taxes, home improvement projects to make it nicer, etc. they're not great investments.

[Anonymous]

Anonymous wrote:People who put enormous amounts into savings accounts and don’t bother with non-retirement brokerage accounts. That 300k at 1% (if you’re lucky) is doing no work for you

This doesn't bother me if the same people are also investing money into the stock market. Say your hypothetical couple also has 1 million in a 401k and a couple hundred thou in other brokerage accounts. It wouldn't bother me that they also have a mountain of cash. Some people value the mental security that would give them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What's an unpopular opinion you have in regards to money or personal finance?

Mine is that, contrary to the common (?) belief that people who have fancy lifestyles must be "swimming in debt", the majority of people living like that can afford it. In general, people make more or have much more money than you think, and if you think you are behind relative to your peer group, it's because you probably are.

DCUM people are way too conservative, from investment choices, to debt leverage, to oversaving for retirement

I was just thinking about this in the car this morning. I want to enjoy the money I have! We max out our 401k’s and seem to be on track for a Comfortable retirement. Anything extra I want to enjoy, not throw it into yet another savings/investment vehicle.

[Anonymous]

People who don't spend money on luxuries need to "live a little".

[Anonymous]

Anonymous wrote:You shouldn't consider your primary home an investment. With maintenance costs, taxes, home improvement projects to make it nicer, etc. they're not great investments.

True, but you have to live somewhere and owning is more advantageous than renting wrt these issues. Agree that many home improvement projects are simply to feather the nest and not a real "investment."

[Anonymous]

That people who are rich never spend money. Yes the very rich drive around in their old cars in their workout clothes and then park in front of their $5M homes. Yes the rich spend money. Duh.

[Anonymous]

1. All people shouldn't attend college
2. People shouldn't take on 6-figure debt for an undergrad degree
3. People taking out those 6-figure loans should pay them off as soon as humanly possible and not let them stretch out for 20-30 years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:People who put enormous amounts into savings accounts and don’t bother with non-retirement brokerage accounts. That 300k at 1% (if you’re lucky) is doing no work for you

This doesn't bother me if the same people are also investing money into the stock market. Say your hypothetical couple also has 1 million in a 401k and a couple hundred thou in other brokerage accounts. It wouldn't bother me that they also have a mountain of cash. Some people value the mental security that would give them.

If you have money savings and in a brokerage accounts, that's diversification, having liquidity, intelligent... If you just have the savings account it's short sighted