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Nearly 70% of Americans are currently living paycheck to paycheck. How are they supposed to save up or invest? One medical emergency could wipe out all that imaginary savings too.
I know that on-average, those things tend to appreciate, but also yes, if it's all tied up in stonks you're still just one 2008 from "Oops, lost it all!"
Why is gambling the only way to secure a decent future? I even made a decent chunk of money during the last crypto peak when it was fun new tech and just before it seemed so supremely evil, but I cashed out and ran never to look back. The stress is insane, the concept is insane. I wouldn't do it again. I got lucky and that's it.
Meanwhile my family made all kinds of good retirement investments and practically lost it all when we had to let the house go back to the bank when 2008 hit.
There is a reason I mentioned index funds, they don't just 'oops' away as they are highly diversified. For example, the most commonly cited index is the S&P 500, which is up over 250% since 2007. The 2008 crisis didn't just oops everything. Investing for retirement is all about the long term trends, and those trends are very in your favor if you are holding index funds over the long haul.
That's now how it works over decades. Coca Cola Company didn't magically lose a shitload of value in 2008, even if their stock was down. Sit tight and don't even look at your funds. IGNORE THEM.
If anything, 2008 was a great time to pour it on with investments. Let the gamblers and stock market fiends try to chisel a few bucks. Sit. Tight.
That's not correct, the median savings account is $8000
https://www.federalreserve.gov/econres/scfindex.htm
You're not living paycheck to paycheck if you have $8000 saved, even if you spend your entire paycheck
https://www.cbsnews.com/news/paycheck-to-paycheck-6-in-10-americans-lendingclub/
Yeah, so that's not 70%