[Stu from NYC]

Originally Posted by rsmurano

People talk about savers like they are putting their money under their mattress or at a bank savings account. You should never have a savings account because you will never make any money. You should be in the market with all your money. Create a bucket system to live on but even have your bucket that your living on invested in money market, everything else in stocks/funds.
Realistically, by the time you retire, you shouldn’t have any debt, enough $$$ to live on without any worries, and if you don’t, you didn’t plan well when you were younger and working. If you would have invested $100 a month say in ibm or in apple in your 20’s, you would have enough money to do whatever you want now. You would have over $1M in wealth. If you would have increased this amount each time you got a raise or got a better paying job, you would have much more. But people didn’t, most spent as much as they made.

As for interest rates, we all benefit, especially investors over time. The last decade before 2021 is proof of that. Interest rates drop tech stocks and small caps will surge, in time, and all the people with variable interest rates will benefit. Home prices will skyrocket because you are going to have a lot more people that now can afford the home they have always wanted so it will be a sellers market. Lately with the higher rates, it’s been a buyers market.

Agree with you. The problem is people do not have to take a required class in economics and financial management. As a result too many people will lose out on being financially responsible.