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Comment on I feel like are all stuck in a movie where all the rich people live on some kind of floating island or satellite with everything they need to live well, and all of us have zero chance of going there.

hth@lemmy.world ⁨1⁩ ⁨year⁩ ago

If you are young, they would trade a lot for the years you have left to live. Also, time value of money and all that. It’s hard to fathom how powerful compounding is. Start investing small, start investing early.

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pjhenry1216@kbin.social ⁨1⁩ ⁨year⁩ ago
Folks aren't even able to get out of debt. Considering debt generally has a higher interest rate than savings, folks are even held back from saving. OP even mentioned that straight out. If you're a disaster away from destitution, you aren't investing money. Money years from now isn't worth more than money today when your bills are due today.

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- doublejay1999@lemmy.world ⁨1⁩ ⁨year⁩ ago
  Increasing consumer debt was a policy decision in the 1930 and ever since, to control powerful Labour organisations. An indebted worker is less likely to strike.
  
  Same today for students. Bright optimistic minds out of college are less likely to say ‘hey, there s a better way’ if they are weighed down with debt. .
  
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- hth@lemmy.world ⁨1⁩ ⁨year⁩ ago
  Totally, debt stifles saving. All rich people are alike; each poor person is poor in their own way, or something.
  
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los_chill@programming.dev ⁨1⁩ ⁨year⁩ ago
It ain’t about money. It’s about time. The rich still die…

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flathead@lemm.ee ⁨1⁩ ⁨year⁩ ago
Yeah but it would be a lot better with socialized healthcare and free education.

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