As much as you can afford. Target 15-25% depending on your earnings and lifestyle needs. 15% is good, and considering your age could build a healthy nest egg, but 20-25% is great (not diminishing that it requires a good deal of sacrifice).
The real reason for the boom after WW2 is that you’re following the Great Depression. Starting from a low like that is part of why we experienced such a boom. Interest rates are now (mostly) controlled by the FED, so the public sector sets the interest rates which massively influences investor actions as well influencing business’ decisions to grow via debt vs grow via reinvestment of profits into the business. When rates are kept artificially low business and investors are incentivized to push debt levels higher and higher as the cost of the debt is almost nothing, investors are incentivized to put far larger shares of their net worth into equity markets and proportionally less into safe investment vehicles like treasuries, cash, CD’s. I’m sure I could find it if needed but there was an excellent graph circulating about 2 years ago that depicted when interest rates were 5% and the stock market was paying 10% investors would deploy around 60% of their liquid net worth into equity markets because the return was only a 100% increase over cash. On the flip side while interest rates are 1% and equity markets are paying 6% the same additional 5% now represents a 500% increase in returns and investors will deploy as much as 90% of their liquid net worth into equity markets.
National debts can create a recession when you reach a critical mass in which the interest payments alone eat up a majority of budgetary funds. There does come a point where governments will either have to tax at significantly higher rates to continue the level of services or cut services to pay the interest on the debt. If tax rates increase substantially tax payers find their living standards decrease, companies higher less, wages decrease over time due to increased employer costs, and subsequently standards of living drop. source
Jokes on you, I’m on a bulk. I can easily eat 3-4K calories per day. You’re just letting me carb load with ice cream, peanut butter, chocolate. I’ll have 3,000 calories down by lunch.
A lifetime supply of groceries and gas, my wife will tip 100% on hair and nails, I’ll tip 100% every time I dine out. I’ll make reasonably sized cash donations anonymously.
Show me where they’re not taking into account rising healthcare costs and end of life care.
There’s a massive degree of speculation regarding declining birth rates. I will say this, millennials seem to be having more kids though I doubt that any generation will ever come close to the greatest generation birthing the boomers. That said, at least in the US much of that problem is 40 years away, we’ll have the chance to watch other countries navigate that and make our own path from there. I don’t think anyone can realistically spell that out as it’s a problem that only 2 countries thus far are actually in the midst of.
1) 52% of millennials own a home so your point is incorrect. source
2) millennials spend on travel, dining out and entertainment as the largest chunk of their disposable income. This is also incorrect.
3) millennials are about to receive the greatest wealth transfer in human history of nearly 9Tn dollars. You are incorrect.
4) millennials are the highest earning generation of all time on both real terms (inflation adjusted) and total dollars (not inflation adjusted). Millennials are better prepared for retirement than boomers or gen x (source: vanguard) and have higher savings rates than previous generations.
Every single point was incorrect. I don’t say this to be an ass hole. I say this to illustrate that the data isn’t on your side and your points are likely based on anecdotal evidence from your immediate circle. Keep your chin up, focus on improving your financial circumstances and you’d be amazed what you can still accomplish. I don’t want to diminish the pains inflation causes (and it’s very real) but there’s no reason to be all doom and gloom.
I tend to agree and it is exceedingly rare that I ever use concentrated positions. I tend to use sector etfs (index funds) for domestic equities, I use actively managed funds for international, emerging markets, and fixed income. I can see the argument for using fixed income for domestic small cap but rarely do.
Edited because I realize I didn’t answer your question. I do use single positions if it’s a money market mutual fund and I’m rarely concerned about time frame here. As I said in another comment if it’s a cash holding with any duration I’ll use a single CD, a single money market mutual fund, or treasury.
I have an elderly client, mid 80’s, widowed. She nearly became a victim of the IRS scam going around a few years ago. Her husband handled most of the finances. We stopped her from giving any info and prevented anyone taking her to the cleaners. I had a good relationship with her kids and brought the family in to establish POA’s (I think this was just before she turned 80 so about 5 years ago)
I can’t speak for Canada, but in the US this doesn’t require a liquor license (or at least didn’t 10 years ago in CA) because you’re not a restaurant. I did have to be TIPS certified but I already was because I also worked as a bartender in a restaurant. That was a really good point I didn’t think to add.
There’s a guy that legally changed his name to literally anyone else and he’s running for 2024. If third parties don’t put out a good option Literally anyone else gets my vote. Thomas Paine could get my vote at this point. I may opt to write in my dog. He’s a good boy that would absolutely be better than Trump or Biden.
I’m somewhere in a concrete wall between my apartment and my neighbor
The tax man takes half off the top. My mortgage takes another 300k, I send 150k back to my parents to keep them going, I put aside 400k for a rainy day, I spent 76,520 on hookers and dancers but mostly hookers. I was a little surprised until I realized I could claim most of it back on my taxes as entertainment. - Margin Call
The pinky finger enables 50% of the strength of your hand. Without it you’d face just as big a problem as the loss of a pinky toe
Jokes on you, I’m laying down for bed so I’ll get 600 before my puppy needs to go out
I think you may have misinterpreted my comment. I use NVDA in many of my clients’ portfolios but would never recommend any single position (with the exception of money market funds or treasuries, CD’s etc) for funds to be used as a down payment for a house within 6-24 months. The point here is that influencers frequently make poor recommendations in their efforts to achieve a one size fits all channel.
To be clear I’m not against Bitcoin but there is absolutely zero chance I’d tell someone planning to buy a home in 6-24 months to put the money they plan to use to buy that home in Bitcoin.
Influencers are trash. I can’t count how many times I have to explain to kids that they shouldn’t yolo their first home down payment fund on Bitcoin or NVDA.
I’ve seen this trend evolve online (I know I said influencers are trash but plain bagel did an excellent breakdown on the failures of influencers) and watched the quality of advice these (mostly) younger folks receive drastically decrease
Millennials are now the highest earning generation of all time Source
Lmao my wife has that exact same calendar for them lol
I owed 10k. I’ll likely owe 20 next year.
Have you ever looked up the social security trustees report? They will be insolvent in 2034. This is just reality.
America is debating whether to raise the retirement age—but boomers are already working well into their sixties and seventies
millenials