this post was submitted on 09 May 2024
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A highly diversified portfolio is the opposite of gambling. Don't let the "traders" and crypto bros sour you on the power of conservative investing.
So what I'm saying is: the money you put into a 401k goes to an investment company, that investment company gambles in the stock market.
Regardless of how you spin it, regardless of how safe you think it is, when you give money to someone to use in the stock market you are gambling.
No, diversification makes it not gambling. Not all risk is gambling.
https://www.theguardian.com/australia-news/article/2024/may/09/unisuper-google-cloud-issue-account-access
lol....any time you give money to someone else to manage you are gambling.
Making a assumption that your money will increase in value over x is (say it eith me) gambling....otherwise why would those guys in suits have disclaimers saying "you may lose money...not all accounts make money...etc...."
I mean, by all means go ahead, if this makes you happy go right ahead. My point still stands.
It's not an assumption, I understand the risks. I know it will go both up and down. That doesn't make it gambling. What on earth isn't gambling in your eyes?
death and taxes. sure bet.
understanding of risks doesn't cut the mustard... I understand the house always wins. Understanding the odds in blackjack and understanding the odds in the stock market still makes you a gambler...an informed gambler, but nonetheless a gambler.
So if 401ks are bad because they incentivize gambling, what's the alternative? You have a uselessly broad definition that seems to lead people only to a guarantee of losing purchasing power through inflation. Better guarantee a loss than "gamble" with strong evidence to support your risk I see.
Saying "the house always wins" about things like index investing is hilarious.
Quoting me and saying "super specific 'safe investment' type of investment is 100% safe and will always make money.
https://www.thetimes.co.uk/article/pension-fraud-stolen-uk-expat-brite-advisory-mark-donnelly-jjh5cr7mk. theyse guys aint laughing
When you give anyone money to "invest" you are gambling that you will make money.
???
!!!
You can direct your funds to money market accounts usually as well