Plus, the whole thing is about putting your money in some place where it will passively gain value, so that when you retire you will have compounded wealth. Well – that whole system seems to be faltering in its own right. I mean, the stock market is not rational, that is pretty evident at the moment.
You’re telling me you want me to forego part of my paycheck each month in favor of a tiny piece of ownership of a cross section of companies – which I can only claim the actual liquid value without strict penalty until after I’m 67 – and the value of which is highly dependent on the irrational fears and hopes of other people? and, if not that, upon how well that cross section of corporations extract wealth from the rest of the population? that that money is almost guaranteed to grow is part of the whole issue of the requirement of capitalism to achieve infinite growth year after year – and if it does grow? – where the hell does that money come from? Less and less from transformation of materials into value, and the exchange of that value for money. Less and less from the rendering of a service and the exchange of money for that service. More and more from the enclosure of resources (perhaps including the up front, one-time transformation of materials into those resources, and continued maintenance) and the extraction of rents for use (see: the current state of computing and data storage).
There’ve got to be losers here. If my future wealth is going to be based on a bunch of economic losers having near nothing when they reach the same age, wtf is the point? what is the point if I have wealth and my neighbor has nothing.
If my own future wealth is dependent on me owning a piece of an entity that pays a worker a fraction of the value of their labor – that makes its profit purely on that distinction – I think I probably ought to avoid that whole system altogether out of simple solidarity.
Edit: this is a rant.
Edit2: Oh yeah and thats all not to mention these companies I’d be vesting in are quickly destroying the global ecosystem
I would just add for anyone listening, that the stock market and 401Ks, it’s all just gambling. It’s literally gambling, and not much good comes from gambling even though a lot of people think it will. Gambling produces a few winners and a whole lot of losers.
Yeah, you save $100 this month, then maybe the next, then your car breaks down, or you have to go to the doctor or whatever the fuck expensive thing that comes up and you’re wiped out again. Not that $1200 a year is going to do jack shit for you anyway as far as retirement goes anyway.
With that amount you’re not saving enough to do anything beyond short term emergencies and a lot of people are lucky to even get that far. It doesn’t secure you any kind of future after you’re too old/sick to work anymore.
It’s funny because I never even said “retirement” I just said to plan for your future and stop being nihilistic and thinking “I’m going to die before I’m 40 anyway.”
A lot of people feeling really unhappy at the entire message and that’s really telling about people’s anxiety right now.
You will in fact live to 65 and you better fucking do something about it and make your plans now.
Wtf else would you have been talking about? People are unhappy because your fucking stupid message ignores a shitload of reality. Not everyone has an income that even meets their cost of living, let alone save or plan anything for the future and you come on here calling them turds and lecture them about feeling hopless? Fuck you.
Yah I stand by it 100%, if you can’t muster the will to even TRY for a future, you’re a worthless turd and I don’t want your poison infecting others who are willing to keep fighting, I want people who care about the future so we can rebuild some measure of community and a better future. You don’t want to have those kinds of values, and a lot of sheltered, asocial hermits in this post feel the same, so yah… I really hope you have the future you seem to want. I’m done, don’t worry I won’t reply or see any more of this.
It’s one thing to have an account. It’s another thing to be able to put money in it. I’m lucky if I don’t have to take money out of my savings all month. About half my clothes have holes in them, and I keep thinking, “Maybe next paycheck I can go shopping.” But by the time next paycheck comes, it pretty much all goes to rent, food, fuel, or whatever else is more dire than new clothes.
I’m in the same boat but I still find ways to do it, way too late in life, because as I said above, you need to take your years-away future as seriously as what you’re going to eat tomorrow. It’s going to get harder and harder to keep the grind going and you will absolutely need some measure of savings in the future. As long as you’re making any money at all, even a few dollars here and there will help towards a better tomorrow.
In case you aren’t already, you should try shopping at Goodwill or another local thrift store. I get most of my clothes from there. Last time I took my daughter because she has strong fashion opinions.
You can try locally owned ones. In the town I live near there’s one called Adam’s attic. I was able to get my son, my wife and I multiple new outfits for less than $10.
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What an utterly privileged and myopic take.
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You don’t know that. We aren’t doing jack about climate change. In fact, we are actively trying to make it worse.
If you don’t think thats a problem, then you’ve got your head in the sand.
Plus, the whole thing is about putting your money in some place where it will passively gain value, so that when you retire you will have compounded wealth. Well – that whole system seems to be faltering in its own right. I mean, the stock market is not rational, that is pretty evident at the moment.
You’re telling me you want me to forego part of my paycheck each month in favor of a tiny piece of ownership of a cross section of companies – which I can only claim the actual liquid value without strict penalty until after I’m 67 – and the value of which is highly dependent on the irrational fears and hopes of other people? and, if not that, upon how well that cross section of corporations extract wealth from the rest of the population? that that money is almost guaranteed to grow is part of the whole issue of the requirement of capitalism to achieve infinite growth year after year – and if it does grow? – where the hell does that money come from? Less and less from transformation of materials into value, and the exchange of that value for money. Less and less from the rendering of a service and the exchange of money for that service. More and more from the enclosure of resources (perhaps including the up front, one-time transformation of materials into those resources, and continued maintenance) and the extraction of rents for use (see: the current state of computing and data storage).
There’ve got to be losers here. If my future wealth is going to be based on a bunch of economic losers having near nothing when they reach the same age, wtf is the point? what is the point if I have wealth and my neighbor has nothing.
If my own future wealth is dependent on me owning a piece of an entity that pays a worker a fraction of the value of their labor – that makes its profit purely on that distinction – I think I probably ought to avoid that whole system altogether out of simple solidarity.
Edit: this is a rant.
Edit2: Oh yeah and thats all not to mention these companies I’d be vesting in are quickly destroying the global ecosystem
You get it at age 59.5
Thank you for your rant. I love a good rant.
I would just add for anyone listening, that the stock market and 401Ks, it’s all just gambling. It’s literally gambling, and not much good comes from gambling even though a lot of people think it will. Gambling produces a few winners and a whole lot of losers.
Even worse they said to put it in a high yield savings account which hasn’t existed for decades
Oh fuck I loved every bit of this rant. I wish I had the mental energy to rant like this again.
All those things require a surplus of cash. A lot of people don’t have that.
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@lightnsfw @ameancow there’s an app for that…
Yeah, you save $100 this month, then maybe the next, then your car breaks down, or you have to go to the doctor or whatever the fuck expensive thing that comes up and you’re wiped out again. Not that $1200 a year is going to do jack shit for you anyway as far as retirement goes anyway.
I am glad you agree with me that you need to save money for potential expenses and future problems.
With that amount you’re not saving enough to do anything beyond short term emergencies and a lot of people are lucky to even get that far. It doesn’t secure you any kind of future after you’re too old/sick to work anymore.
It’s funny because I never even said “retirement” I just said to plan for your future and stop being nihilistic and thinking “I’m going to die before I’m 40 anyway.”
A lot of people feeling really unhappy at the entire message and that’s really telling about people’s anxiety right now.
Wtf else would you have been talking about? People are unhappy because your fucking stupid message ignores a shitload of reality. Not everyone has an income that even meets their cost of living, let alone save or plan anything for the future and you come on here calling them turds and lecture them about feeling hopless? Fuck you.
Yah I stand by it 100%, if you can’t muster the will to even TRY for a future, you’re a worthless turd and I don’t want your poison infecting others who are willing to keep fighting, I want people who care about the future so we can rebuild some measure of community and a better future. You don’t want to have those kinds of values, and a lot of sheltered, asocial hermits in this post feel the same, so yah… I really hope you have the future you seem to want. I’m done, don’t worry I won’t reply or see any more of this.
It’s one thing to have an account. It’s another thing to be able to put money in it. I’m lucky if I don’t have to take money out of my savings all month. About half my clothes have holes in them, and I keep thinking, “Maybe next paycheck I can go shopping.” But by the time next paycheck comes, it pretty much all goes to rent, food, fuel, or whatever else is more dire than new clothes.
I’m in the same boat but I still find ways to do it, way too late in life, because as I said above, you need to take your years-away future as seriously as what you’re going to eat tomorrow. It’s going to get harder and harder to keep the grind going and you will absolutely need some measure of savings in the future. As long as you’re making any money at all, even a few dollars here and there will help towards a better tomorrow.
In case you aren’t already, you should try shopping at Goodwill or another local thrift store. I get most of my clothes from there. Last time I took my daughter because she has strong fashion opinions.
Tell me you haven’t been to goodwill lately without telling me
You can try locally owned ones. In the town I live near there’s one called Adam’s attic. I was able to get my son, my wife and I multiple new outfits for less than $10.
It was only months ago! What happened‽
Goodwill prices are out of control. Look for local/mom and pop thrifts.
I’m privileged enough to have all of very cheap housing, a paid off car and a well paying job, and I still don’t contribute enough to my RRSP.