Reply to Average Person is the Richest Ever as of 4PM today

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What a strange post.  To this day, 38% of all Americans don't own a single stock, like another 20% - 30% only own stocks through their 401k (and no...they aren't maxxing out their 401ks).

So...are you going to go to McDonalds and buy someone a burger?[/quote]

No what's strange is the inability to be happy for someone else.[/quote]

No what’s strange is dipshits like you don’t know that over 50% of the US population gets nothing or close to nothing from stocks.
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According to a Gallup report last year, 62% of Americans own stock. Among those 50 t0 64, it is 72%.

https://news.gallup.com/poll/266807/percentage-americans-owns-stock.aspx[/quote]

Again...here are the facts which support why many people don't care what the stock market does at all because they benefit either 0% or very minimally

- 38% of all people own no stocks at all
- Top 10% of the wealthiest own 87% of the stock market
- Bottom 50% of the population owns 1% of the stock market
- Of the 62% who own stock, most own stock through their 401k.  The Median 401k balance for someone aged 55-64 is $95,642 (and that is the highest median balance for any age group that is tracked)

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Interesting. It seems like owning stock is a good way to improve your finances. Owning cash doesn't make money.[/quote]

Understand...the 38% who own no stocks have like a $0 net worth as well.  It's not like they are making some decision to not own stocks.[/quote]

Is this 38% of all Americans? Or 38% of adult Americans?[/quote]

Adults[/quote]

Sounds like the time for education has begun. With the passage of the Secure Act, those part time McDonald’s employees should absolutely be throwing in a couple of dollars a month into the company 401k.[/quote]

The match is dollar-for-dollar up to 6% of eligible pay for all mcdonalds employees, the guy serving you a burger is in the market! [/quote]

Not just McDonald’s. There are job openings near my small midwestern town in an oil refinery. No higher education, entry level jobs where the company match is 8%. The pay isn’t bad either. [/quote]

Yet most of those workers don’t save anywhere near the max, even with the match.[/quote]

They don’t have to. If they start immediately, even a modest amount plus the match will make a big difference later on. [/quote]

What planet are you on that you think McDonalds workers can afford to tuck away 5% of their $15/hour salary and still have enough left over for rent, food, etc. [/quote]

I’m on planet “$100 a month” starting asap. [/quote]

Yeah…and those workers don’t have $100/month.  Like 40% of the population doesn’t have $500 saved for an emergency.[/quote]

Disagree. DH and I have decent sized segments of our families in that position. They have no emergency fund but they could have a modest one. They aren’t saving for retirement. But they could throw $100 towards a 401k if they reduced their weed consumption. This is just my anecdotal experience but it’s fairly common where they live. [/quote]

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