Jamaaliver wrote:stilldropin20 wrote:Trump is a game changer. Politicians will be held to a higher standard...of making the economy work for everyone and many other great things trump has done regardless of however unpolished he comes off.
Most people's 401K are up 40-80% since trump was elected.
Again...the economy isn't working for everyone.Washington Post -- January 2018Eric Trump says 401(k)s are doing great, but half of American families don’t have one
Eric Trump pointed to the stellar performance of 401(k) retirement accounts as evidence that his father's economic policies were helping average Americans.
In 2016, according to the federal Survey of Consumer Finances, just more than half of Americans had some sort of retirement account -- a 401(k), IRA, etc. That means nearly half of American households have no dedicated retirement savings.
For the past 15 years, the share with retirement accounts has hovered between 49 and 53 percent.
Like so much else in today's economy, that shift has primarily benefited the wealthy. Richer households can contribute more to their retirement plans, and they can afford to hire accountants, tax professionals and money managers to maximize the returns on their investments. The result is apparent in the chart below, which traces the median value of retirement accounts by net worth percentiles.
The big story here is how the retirement assets of the top 10 percent of households, and to a lesser extent the top 25 percent, are peeling away from everyone else.
The richest households are leaving everyone else in the dust. American capitalism is a well-oiled machine for creating winners and losers, and the winners are taking it all.
Going back to Eric Trump's point, a roaring year for the stock market is indeed good news for those families who are significantly invested in it. But about half of American households have no retirement savings, and many more are unable to save as much as experts say they'll need.
economies dont work for people who dont work and dont invest. You gotta work. and you gotta invest in our markets. Housing or stock.
And dont give me the "i dont have enough money to "invest." Wrong! its cheaper to buy a house than rent in almost every single market in america and FHA loans allow people to put down as little as 2%. If you join the military you can earn 45K in your first year and buy a house with 0% down. and even get a housing alotment (aka additional money to pay your mortgage).
And if you cant afford a SFH, you can buy a multi unit...the income from the other units goes to get you financially approved for the purchase.
If your one job doesn't pay you enough??? get another job!! drive for uber!! i take about 10 ubers per week. 70% of my drivers in chicago have another full time job!!!
In short, jobs and options are there for everyone that is WILLING TO DO THE WORK!!
now doing the work is only half of the equations...once you do the work? dont be an idiot!! Dont buy the expensive car, clothes, rims, or take the vacations, you cant yet afford. Instead be smart with your money and begin to buy both income rental property and invest in our stock markets. <<--it's literally that effin simple!!
I personally began working as a bus boy when i was 14. i earned about $30-40 per 6 hour shift. I saved at least 70% of it. At 17 i joined the US Navy. and saved nearly 80% of my pay. At 21 i bought my first condo. for $16,000.00. cash. It was worth more. I fixed it up and cleaned it up. staged it. and sold it for a 45,000 profit 6 months later. I was only 21. And now had over $140K saved up since i was 14. I was still in college. I got a job at the Hilton downtown as a bellman. I earned about $60K per year. I could have just did that and nothing else. Instead i stayed in college, continued to buy more rental income property and even went to dental school. over the next 4 years before i started dental school I acquired 3 more large income buildings and flipped another property.
^^^in between all of that i was in 3 sports every single year in HS. and played 2 sports in undergrad. I got straight A's in college. and worked about 100 hours per week between my "w2 jobs" and investing in my own real estate.
I did the effing work!!! Thats why i have multi-millions today in real estate. i did the work and invested in our markets. I'm not lucky. in fact i'm quite unlucky. I have made many foolish decisions and investments. But i made up for them with "the work."
I was determined to put in the hours and learn the construction process and stand in line for permits. etc etc. It was hard effin work!!
i have no sympathy for some laziarse 22 year old that wants to sit around for opportunities to . present themselves. I refuse to pay higher taxes for those same 20 year olds can get free college and free medical. Do the gotdamn work, you lazy phucks is all i got for you!!!!!!!!!!!!!!!!
if you do the work, and save your money, and invest in our market, you too will end up with millions<--its impossible to not end up rich if you WANT to be rich. But it takes decades. Not months. Not even years. Not even 1 decade. But over decades you will end up a millionaire many times over if you sacrifice now to have something later.
If someone is too stupid to stay the course and see the path or just too lazy and/or impatient then i got nothing for you!! And i will never vote for any legislation to help you if you are not willing to do the work and wait your turn. After all the work i did...it took 15 years ( i was 35 years old) before i was worth my first million...at 37 half of my wealth was wiped out when the economy tanked! I didn't get discouraged!!! I invested even harder into our markets. I curtailed my own personal spending on bull crap even more. I became even more frugal...and I have millions in the bank...i wear $15-25 dollar shoes strictly on sale. And i buy suits on sale for $100.00. I still buy used cars. And negotiate for almost everything i buy. its fun, actually, and an ongoing joke how frugal i am.
and anyone can do it....just stop wasting so much money trying so hard to look cool and getting laid!! and invest instead. To thos ethat instead wasted their money out clubbing? Or on drugs? Or on vacations? and now want me to pay higher taxes so you can get free stuff??? eff you@!!!!!! 2 fingers up buddy!!!!
- I guess we never want Texas to turn purple with all the Hispanics wearing their cowboy boots down here - sigh.
Seriously, I think maybe Nike has a clue about what they're doing by going with Kaep. What did I so insightfully say before? One size does not fit all. I have more cliches that work in this case - if you'd prefer.