Reply to I have mixed feelings when the market is doing well while people are losing their jobs

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Nothing prevents anyone from owning stock and from participating in the fortunes of the companies whose shares they buy.  No reason to sympathize with people who choose not to be investors.  You can open a brokerage account at some firms with $0, and some require maintaining a balance of only $100 or more.  Many brokers allow tradiing with very small amounts, regardless of the minimum opening balance.

Mighty oaks from little acorns grow.  Sow nothing, reap nothing.

[/quote]

I HATE people like you who are so quick to pile on people who are already struggling. Of course they should have saved. It's very easy to look at others who have not done as well as you and blame them. I'm sure it makes you feel good. I hope you live long enough to enjoy your millions.

Compassion is free. [/quote]

DP: I agree compassion is free.

However, most of Americans do NOT plan for life and emergencies.  They don't even attempt to live within their means.  I have a relative who is a teacher, so makes good salary, but not great (in a top paying state relative to the COL).  They have always lived above their means, bought things and figured they'd worry about it later.  Would replace a 5 yo car simply because they wanted a new one (old one was Honda, had only 90K---you can easily get 150-200K out of them and was running without any issues), yet traded it in as soon as their loan was done and started the process again.  They could have chosen to go another 3 years, save the $300+/month car payment and the lower insurance because of a 5-8 yo car and then have $12K+ to put down on the next car (and thus have a much smaller payment/shorter loan).  That is how you get ahead.  This wasn't a 14+yo car on its last legs---they easily had 3-5+ years more without any issues.  Yet they complain they never have any money.  Apply the same principle to, the same person grabs lunch at work, or orders takeout for dinner way too much, when they don't have the money.  It's all these smaller things that add up to "oh shit, the roof needs a repair, how can I ever pay for it?" when they could if they made it a budget item and saved, rather than getting a new car.

Yes some live paycheck to paycheck truly.  Most don't have to and could be saving and budgeting differently.  Not realizing life is much easier if you don't spend everything you have and save some. 
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That's a simplistic way to look at the decision making of poor households. Don't forget we have a predatory capitalistic system. You take it for granted that everyone knows even the most basic financial aspect of any transaction..the truth is that's not the case. Our financial system is built entirely on taking advantage of you if you are unaware. It's done in subtle ways. [/quote]

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