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)
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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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Yes, and the index funds provide the 6-8% return I was talking about The "401k millionaires" didn't actually go from poor to rich - they had millions of dollars in income over the years that they protected from inflation and allowed to grow modestly via investment
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Hyping up the power of compound interest to turn $120k into $1 million if you don't touch it at all for forty years is not that impressive, especially if you don't include inflation
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