This is not good advice Even the most bullish mainstream investment advisors still say you should have enough money in an FDIC-insured bank account to constitute an "emergency fund" before you put one penny in stocks, which are a fundamentally risky investment
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Replying to @arthur_affect @TransEthics
For a *homeless person* to buy stocks with their extra cash instead of saving it in some kind of stable and easily accessible liquid form is insane advice
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Replying to @arthur_affect @TransEthics
This is basic econ logic, the marginal utility of a dollar gradually decreases as you get richer which means that it makes sense for people on the left hand edge of the chart to be extremely risk averse
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Replying to @arthur_affect @TransEthics
For a millionaire, a sudden market downturn cutting their net worth in half is a temporary storm they can ride out For someone whose life savings amount to only a few hundred dollars, this is catastrophic
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Replying to @arthur_affect @TransEthics
That's not even getting into how dangerous it is to recommend that a retail investor with little education start out by picking individual stocks rather than a mutual fund
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"I work in the industry" is the only thing we need to know. I'm sure you work completely without commission, right?
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Replying to @Jen_S_Cook @TransEthics
Well look there's no commission to speak of to be made from a homeless lady buying individual shares I'm sure Kristin is ideologically sincere, I'm just disturbed by her ideology
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It's fundamentally impossible for $5/month to ever take you from "poor" to "rich" if you're investing sensibly (the most optimistic estimate of long term returns of like 8% will turn the $2400 you invest over 40 years of work into $3000, big whoop)
2 replies 1 retweet 11 likes
Actually going from "poor" to "rich" via investment requires enormous alpha gained at enormous risk by being enormously lucky (or talented/insightful, sure, but it's impossible to tell the difference)
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Please check your ableist language
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End of conversation
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