Not really Her life savings are now correlated with the market If things generally become a lot worse in the future in general because of an economic depression she'll lose a huge chunk of her savings at the worst possible time
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My advice was to put extra money in a savings account, for the record
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Replying to @arthur_affect @Mad_Science_Guy and
That's what I've been saying over and over - investing is for after you have an emergency account in guaranteed cash Which is something any advisor with a fiduciary duty is basically required to tell customers and you're treating like a fringe opinion
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Replying to @arthur_affect @Mad_Science_Guy and
This is what
@Mad_Science_Guy was saying - psychological benefits aside, the amount of passive income she's actually making through dividends is ridiculously small You're treating investing vs saving like it's a matter of moral principle and that's a dangerous attitude1 reply 0 retweets 3 likes -
In a possibly-deleted tweet she mentioned not being "Boring." Holy shit, I would rather be boring and get my 1% then "exciting" and say, "well, you win some you lose some, guess retirement isn't happening."
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She didn't delete, she blocked
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Replying to @arthur_affect @Mad_Science_Guy and
And yeah increasing someone's total savings rate by trying to make investment exciting by promising big returns is the definition of unethical behavior
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Replying to @arthur_affect @Mad_Science_Guy and
I could probably be even more successful getting some people to trim the fat in their daily budget by telling them every dollar they spend on random penny stocks could explode into immense wealth when they stumble on the next Facebook
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In fact that IS how they used to market penny stocks in what was considered a notoriously scummy business
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I now, I covered various aspects of Wall Street for 10 years. Heck, I still have a http://Pets.com sock puppet from some conference swag. It's a nice reminder. (I think I picked it up at a Merrill Lynch event!)
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