this post was submitted on 12 Jul 2024
116 points (97.5% liked)
Asklemmy
43891 readers
782 users here now
A loosely moderated place to ask open-ended questions
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- [email protected]: a community for finding communities
~Icon~ ~by~ ~@Double_[email protected]~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Yo those stock recommendations are actually nuts. I just looked at their 5 year and lifetime charts and you're not lying. It's 45 degrees the whole way basically.
All sound advice, but coming across the extra capital to invest, much less in your 20's, is a harder prospect than it sounds for most people these days.
I'm not sure if you can get fractionals of SPY or VTI, but $300-500 a paycheck or even a month of money you can't use on the moment is a hard ask for much of the working class.
It's less like "Stop the avocado toast and lattés and netflix" and more "If you stopped buying a new graphics card every month you could afford stonks that will be mature when you are elderly."
Lol like, we aren't living in luxury and frivolous with our money in the first place, it usually poofs away into food and rent these days. (And gas and the car, if you aren't in one of VERY few places that are walk and bike friendly.)
But for people who have it. This is a sound strategy. On that note, I have a relative who's got very few expenses, often broke...and they're constantly buying new full-priced releases on Steam. This degree of resource mismanagement vexes me so. Lol
Yeah... Closest thing to set it and forget it I've found. I usually buy between 1-7 shares of VTI then a share of SPYG every other week. Been doing it for a long time now. Plus the dividend payout on VTI is really good.