I think that's about right. A lot of those people don't own enough, but that's about right.
Fifty-eight percent do not own stock. There is a difference between choosing equity investments, company retirement plan or mutual funds or indices in I.R.A. and owning shares of stock. When individuals choose equities in company retirement plan, they are given bookkeeping units. Owners of equity shares receive quarterly statements from corporations, vote on officers of corporations and are invited to shareholder meetings. Less than 25% of U.S. citizens actually own shares of stock.
Um...huh?
Whatchu talkin' 'bout, Willis?
If you own mutual funds that have stocks in them, you own stocks.
I have ONLY mutual funds that are ONLY filled with stocks. I vote by proxy with regard to the mutual funds I own which are serviced by two companies...Vanguard and Fidelity.
You are wrong because you don't know what you're talking about.
Fifty-eight percent do not own stock. There is a difference between choosing equity investments, company retirement plan or mutual funds or indices in I.R.A. and owning shares of stock. When individuals choose equities in company retirement plan, they are given bookkeeping units. Owners of equity shares receive quarterly statements from corporations, vote on officers of corporations and are invited to shareholder meetings. Less than 25% of U.S. citizens actually own shares of stock.
Um...huh?
Whatchu talkin' 'bout, Willis?
If you own mutual funds that have stocks in them, you own stocks.
I have ONLY mutual funds that are ONLY filled with stocks. I vote by proxy with regard to the mutual funds I own which are serviced by two companies...Vanguard and Fidelity.
You are wrong because you don't know what you're talking about.
Cut the comedy crap.
Mutual fund company owns the shares not you. In your mutual fund, you have bookkeeping units.
A person can have millions of dollars in Vanguard indices or millions of dollars in equity mutual funds. Vanguard has voting shares not the person who buys Vanguard indices. Same with mutual funds. You have no idea what is in our mutual fund between quarterly statements.
Does Apple mail you a ballot to vote on officers? Does Apple mail you an invitation to annual meeting? Same with 3M, Motorola, Microsoft, etc?
I know I'm not the target age demographic here but I'm 28yo, $90,000/year base salary (with circa $4K-5K bonus each half on top), so just a bit under $60,000 in savings. No stocks etc, no mortgage or anything (I still rent).
The savings has come from putting my bonuses straight into savings, my outgoings aren't very high (single, no car), and I am able to put a fair amount of each month's pay into savings too
The confusion I have is I feel like I'm under-utilising it or missing out on the right financial decisions. I haven't looked at buying a flat or getting a mortgage because I'm not confident how long I'll want to live in this area, and not invested in Stocks or funds like Vanguard etc because I feel I dont understand it enough for it to be a sensible choice. I feel at my age there doesn't seem to be much guidance on what to do and I dont speak very openly about money with my friends because its so personal. Maybe it's just down to me to research my options better and be more proactive?
194k liquid — 240k with 60% of non-liquid HSA/401k
Got smashed by crypto crash (hodl). Now just stacking cash and buying any major dips. Overall feel comfortable and lucky, but not killing it by any means.
It's best to avoid high priced investment places like Edward Jones, Raymond James, etc. They will most likely charge you a fee of 1% of assets under management, which they get not matter what. This yearly fee compounds, and over a couple of decades you will end up with anywhere between $100-200k less than if you learn about investing and do it yourself with index funds depending on what you invest. Often the funds the advisor puts your money in do no better than the market index as a whole. Look at low cost, total market index funds/ETFs like VTI. Register a Vanguard, Fidelity, or Schwab account for free.
I'm 36 and have about $1.1m in stocks, and $130k in cash.
Wife and I are both 39, 1.2 Million net worth of accounts, plus another 200k home equity. Combined gross income 230k/year. By the time I reach your age 45-50 demographic we'll hopefully have much more than this!
The 1.2 Million is in mostly mutual index stock funds in various accounts (401ks, Roth IRAs, Taxable, HSA, and 529s)
Many here are heavily reliant on needing their stocks/mutual funds to perform well over the long run. Yet they vote in direct contrast to that happening.
If you own mutual funds that have stocks in them, you own stocks.
I have ONLY mutual funds that are ONLY filled with stocks. I vote by proxy with regard to the mutual funds I own which are serviced by two companies...Vanguard and Fidelity.
You are wrong because you don't know what you're talking about.
Cut the comedy crap.
Mutual fund company owns the shares not you. In your mutual fund, you have bookkeeping units.
A person can have millions of dollars in Vanguard indices or millions of dollars in equity mutual funds. Vanguard has voting shares not the person who buys Vanguard indices. Same with mutual funds. You have no idea what is in our mutual fund between quarterly statements.
Does Apple mail you a ballot to vote on officers? Does Apple mail you an invitation to annual meeting? Same with 3M, Motorola, Microsoft, etc?
You have a very weird (and WRONG) idea about stockholders.
You do realize that your voting on individual stocks does absolutely nothing, right? You don't own enough shares of any of those for your vote to matter one bit.
My mutual funds are filled with stocks. Therefore, I own stocks. Kind of good that I have owned stocks since 1989 too, because they have made me wealthy.
For anyone who owns stocks within mutual funds, when the stock market goes up, they gain value. When the stock market goes down, they lose value.
500k in cash right now, 50k in market, 7 rental homes cash flow abt 7k a month, own 5 cars and 1 house val 600k paid off, other investments val abt 50k
Not me because I'm not a system sheep. I save that money because I refuse to let the game play me. Once you comprehend and understand the institutional evil, you can counteract it.
About 40% live mostly check to check and 60% do not have enough to afford an emergency $2k expense without running a credit line. This is exactly how the institution has planned it. When that line or percentage waivers, it's time for a reset or in this case, inflation. Time to wake up or sleep like a sheep.
A lot of people live above their means though. I guess that's what the social media generation has inclined--project an image that's misleading.
I keep it real. No fakes here. I let the sheep scatter for their scraps on toxic social media.
Sounds like you've thought this out way more than me. If you have a moment, could you expound just a bit?
It means he invested everything in cryptocurrency he heard advertised on late-night talk radio.
I love how the people that are obsessed with their finances cannot help themselves and reply to OP with the breakdown of their assets when a yes or no answer would do. Some even take it a step further by warning the OP to avoid social media since you cannot believe everything you see or read, but let’s trust their information on this anonymous message board is truthful.
Anyway, yes, I believe your advisor is accurate. Yes, I believe the demographic on LetsRun is doing better than most (mostly active, middle age white guys) but the people not doing so well are probably not going to post about it, even anonymously.
How long could you go without a job and keep everything you have?
I could last about two years.
I was laid off. 4 years ago at. 55 and ran out of cash 6 months ago. In my country we have locked in retirement savings, however I cannot access them. Thankfully jobs are beginning to appear in my area and I hope to be working again anytime.
I started investing in the stock market while in high school but drained all that to pay for college and grad school. Started over again at 26 and have had a return of 9% per year since that point over 25 years in a balanced portfolio - mostly stocks but some bonds and some money market products. I didn't buy life insurance until I had a kid on the way. I regret not hitting my 401K maximum each year.
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