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[quote=Anonymous][quote=Anonymous][twitter][quote=Anonymous][quote=Anonymous][quote=Anonymous]
Just a reminder that wealth and income can be two very different things. We have never had a large income, but we were very lucky in picking out stocks decades ago and we are now wealthy. It took a while for those stocks to increase in value, so in our 30s we only had a few million.

We are not retired, but it's true that we don't take jobs to get a paycheck. We work on what we find interesting.

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Picking stocks and crypto is just winning lotteries. Presumably you made big bets so had a safety net if they went south — for most of us the income we make goes to student loans and mortgages and daycare, and 401k which doesn’t let you buy individual stocks. [/quote]

Wrong.

This is why you should not make assumptions. We did not have a safety net. We don't have one now. Daycare was so expensive, I quit my job to stay home. We lived on 80K with two little kids. The reason we don't have hundreds of millions is that we did not invest a lot. We invested what we had, which was very little, and now we have 20M.

Crypto did not exist when we invested, and we don't have any today. Too risky, even for us. We are 100% in high-tech stocks, though, which gives us a lot of exposure to the AI bubble. We'll see what happens...

Again, do not make assumptions about how your neighbors get their wealth. 
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That is still gambling. Sector specific investing for your entire portfolio? Gambling. [/quote]
If you call it gambling, you should give a medal to the 1 percenters for being the best gamblers.

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