Aitrus wrote: ↑Sun Aug 28, 2022 5:18 pm
Prices have indeed increased over the years. So how does the spending / proposed debt forgiveness affect our investing and retirement strategies?
Not saying we can't bring these issues, up, but let's try to stay focused.
Yes it did get sidetracked. But this is how I see it is related: A- the stock market is very much related to our investing and retirement strategies. B- the Fed's actions to curb inflationary pressures effect the stock market. C- the Fed Can’t Fix Fiscal-Driven Inflation as long as we continue policies like the cancellation of student's loan debt.
And by the way, I'm thinking it's never going to happen. No one can explain how it can happen. Nothing like this has ever happened before. You going to make poor people pay more (higher taxes) for rich peoples college?
Aitrus - For me I have always had zero debts from college expenses undergrad, grad and post-grad total. This status afforded me to ability to parlay that income otherwise to be spent on repaying student loan debt to investing on either real property or equities, which has resulted in my having a decent net worth today. Far from it for me to boast because of the following mitigating factor:
My undergrad engineering degree from the last century costs me and my immigrant parents a grand total of $16k. Most of it I paid off with part time work that on average paid $13/hr. For some years of my upbringing we lived on the federal poverty scale, so I am by no means a privileged rich kid (nor ever a welfare recipient) as someone else characterized the typical college student.
That exact same degree from the same state university now costs upwards of $75k today. Guess what the average parttime or workstudy job pays today: ~$13/hr.
That is hard factual reality faced today by the "lazy" millennials. It can be easily argued that boomer and Gen X policies (of creating money out of thin air and passing it off as compounding debt to be paid back by the succeeding generation of aforementioned millennial slackers) actually created and perpetuate the problem, either because said boomer/GenX policymakers and their constituents were/are too stupid and/or greedy to address.
Yes, I am indeed part of the problem, as are most of us geezers on this board. At the very least can we at least have the decency to stop insulting the younger generation by blaming them for essentially the crime we are actually guilty of? What a terrible example we have become for them.
Quick post today, getting the dreaded "404 Not Found" message when I go to the online chart site.
Stay Calm Index jumped up to 493, (but still under 500 = stay in G fund).
"A good decision is based on knowledge and not on numbers." Plato
"Perfect numbers like perfect men are very rare." Rene Descartes
