The S&P 500 reached an all-time high of 2,977.86

[ayearingratitude]

S&P 500 closes at new record as chipmakers get a boost from US-China trade truce - https://www.cnbc.com/2019/06/30/dow...-and-xi-agree-to-not-impose-more-tariffs.html

 

[followernotfan]

@ayearingratitude Alternate headline: S&P price rises 0% over the past 3 quarters.

You know, if we ignore the whole roller coaster that started in 2018Q4.

 

[chris151]

@followernotfan Curious if you DCA did you gain money? You would have invested some money during dips between all time highs so I think you would have?

 

[sankey]

@chris151 If it's at an all time high no matter when you bought you'd have gained money. So yes.

 

[carnes]

@sankey Also dividends

 

[thrall]

@ayearingratitude 9.2% off ATH for small value

 

[woot]

@ayearingratitude BUY BUY BUY

 

[daniisa]

@woot Literally that easy to make money.

 

[al1998]

@daniisa "buy buy buy every week over a 30 year span and jump a wealth class, leaving your children + grandchild severely well off"

is this the mantra?

 

[resjudicata]

@al1998 Yup, except 40 years and not having the kids so I can spend it on a trip the lasts the rest of my life with no budget... or retiring to a normal life early.

 

[al1998]

@resjudicata i’m worried that like

when i was 10, my parents had a net worth of like, maybe $20k-$100k

when my kids are 10, i’ll have a net worth of like $500k-1.5m, maybe more

is that going to change how they are raised?

say i die with $10m, are they gonna let it compound for generations?

 

[christianon]

@al1998 you could get cancer and lose it all on health care bills, so I wouldn't worry too much about it

 

[kcrystina]

@christianon This guy right here with the glass-half-full perspective.

 

[chris151]

@al1998 If you die with 10m you should have enjoyed your money a lot more imo.

 

[newwave]

@chris151 People enjoy their money in different ways though. Even if I work hard my whole life and end up with 10m in retirement, I don't think I'd want to spend it all just to go on vacations and stuff. It'd make me very happy if I could pass that down to (hopefully fiscally responsible) kids/grandkids. I'd gain more out of life from setting them up to do whatever they wanted more than, what, vacationing constantly? Maybe it's just because I'm more of a homebody, but I'd rather see my progeny flourish and continue the pot I created rather than just spend it when I'm old. I get that you have to enjoy life, but you can just as easily enjoy life off the interest of such an amount as well.

 

[chris151]

@newwave Yeah I like the idea of passing wealth on, I really wish I’d grown up in that situation and think what I’ll do as a dad that my dad didn’t. Not to rag on my dad we’ve gone through being very rich and pretty poor for a small stretch which is better than most. He’s just more of a spender and has accrued some credit card debt in the past so I was always taught that things like that are mostly bad and that the stock market was 50/50 game where you may lose you may win when in reality long term investors always win. I have no idea what I’ll have left but I will preach to my kids everyday to invest the money they don’t need which imo is way more important than inheriting money. Iv got a 16 year old brother bringing in a couple hundred a week that just blows money on Uber eats because he can’t think of anything else to buy. He could easily set aside $100 a week and turn that into a ton of money with how much time he has. I really wish I knew that at his age. I was a kid in 2010 and my friends dad is a big time employee for BOA. He gave us $1000 imaginary money to pick stocks and payed us at the end of the year. I thought I was super lucky bringing in a net $200 gain. If I had invested that real money back in the stocks I won it with (mostly google) I think I would have a pretty large sum of money, honestly haven’t looked at it because it might just be too depressing.

Anyways rant over

 

[newwave]

@chris151 Honestly I agree and kind of empathize with your whole spiel there. I grew up in a family that, while book-wise they were financially literate, couldn't force themselves to put aside the money to save. Saving and investing and NOT day trading is definitely something I want to instill into my kids.

 

[chris151]

@newwave Yeah my dad left a great job for an even better opportunity. That job didn’t pan out and he decided to coach football for a couple years. When he tried to get back in his absence didn’t allow him to get the positions he was previously qualified for but lower positions he was considered overqualified for. This went on for a few year and he had to burn through everything including my college savings and declare bankruptcy. Fortunately he got back in track somewhat and college is still taken care of and he was able to by me a decent car that also helped him build his credit back up. I just feel like he can do so much better though. He’s been making solid money doing this consulting job and now he’s taken on a 2nd that add 100k a year. If I were him I’d be dumping all that money into investments because we essentially have been pretty well off before this additional income so he could afford it. Not sure if he would do that but at least he loves his job much more now than he did in the past.

 

[eternal7]

@chris151 That seriously depends on what your high water mark was. Dying with $10m when you had a jillion is pretty well budgeted.

 

[jimcoleman]

@chris151 a lot of my interests are not expensive. I'm going to leave whatever's left when I die to charity.