Is the SP500 how you become rich?
>>59604100Historically, yes. Save and invest, and in 30 years you can retire.But you won’t be wealthy. You are still capped by how much you can save, which is capped by your job. If you want to get truly rich, you need more capital. No two ways about it.Once you hit critical mass (a few mil), it’ll take care of itself.
only if you start young. oldfags dont have 20 years to compound
The crash in the next couple of years will sting so many people though.
>>59604100Am I fucked if I only started maxing my Roth IRA at 30? I’ve maxed it for the past 4 years. The calculators all say if I max it until I’m 65, with an average return of 7% I’ll have a million dollars. I kind of want to retire in some SEA shithole to make it work, but I could also do Ohio or someshit.
>>59604205Ohio isn’t even cheap anymore>t. Ohionigga
>>59604195Can I get a rundown on why some many people are say there'll be a crash soon?
>>59604260pretty much every historical indicator is screaming recession. the only thing keeping us going is lowering interest rates, importing low wage workers, and faking cpi/job data. as soon as inflation starts to rise again and they need to raise interest rates we're fucked.
>>5960410010% and doesn't the compounding occur quarterly? It's unbased to only have wealth in high age, but it's a legit method I guess.>>59604260Bears are perma retards, don't listen to them.
>>59604275You’re not wrong but could be years before the chickens come home to roost. The urgency that they’re jeetifying the economy is precisely for that purpose
>>59604230Nah it’s still cheap but I’ll say no more
>>59604308If you want to live in a run down crackhouse 2 hours from a major city, you might as well choose Indiana.
>>59604100Slow and stead wins the race
