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A comment on The richest families in Florence in 1427 are still the richest (2016). Parent comment

Re:The richest families in Florence in 1427 are still the ri... by ThirdFoundation on Thursday January 10, 2019 @10:15AM (#18874377)
I remember a similar discussion on here about hedge funds. The goals of the ultra-rich investors are often very different than average people.

In a 401k investment account we try to find the best ways to get a return on investment and increase the value of assets. There's risk involved, but for many it's the best chance they have for a true retirement.

Ultra-rich, on the other hand, often go to their hedge fund manager with the simple goal of "can you make sure I'm never not rich." They aren't focused on the upside of their investments (though they probably at least want to keep up with inflation) -- they're concerned with the __downside__ and the risk of becoming 'not rich.'

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Re:The richest families in Florence in 1427 are still the ri... by ABCLAW on Thursday January 10, 2019 @11:44AM (#18875263)
Might be this recent thread:

https://news.ycombinator.com/item?id=18692108

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Re:The richest families in Florence in 1427 are still the ri... by JohnFen on Thursday January 10, 2019 @02:18PM (#18877037)
Yes, this is why I tend to avoid investment vehicles. I'm not wealthy enough to gamble.
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Re:The richest families in Florence in 1427 are still the ri... by ThirdFoundation on Thursday January 10, 2019 @02:30PM (#18877185)
Do you plan on just saving cash then for retirement?
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Re:The richest families in Florence in 1427 are still the ri... by JohnFen on Thursday January 10, 2019 @04:18PM (#18878290)
Already have, although I doubt that retirement is in my future regardless.
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Re:The richest families in Florence in 1427 are still the ri... by pc86 on Thursday January 10, 2019 @03:01PM (#18877497)
I believe you have seriously overestimated your financial literacy if you don't have any investment vehicles deployed.
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Re:The richest families in Florence in 1427 are still the ri... by JohnFen on Thursday January 10, 2019 @04:17PM (#18878282)
I never made a claim about my financial literacy. It's not as low as you assume, though. I've started (and sold) several successful businesses, and am well-versed in investment activity.

It's more a case of everyone having different levels of things they are willing to tolerate. That mine is different from yours doesn't indicate that either of us is incompetent.

That said, if your goal is to be wealthy, investments are an important part of that. That doesn't happen to be my goal, though.

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