People no longer believe working hard will lead to a better life, survey shows

Re:People no longer believe working hard will lead to a bett... by christiansakai on Monday January 20, 2020 @12:22PM (#22100377)

Market goes up and down. As long as that money is not realized, it is still just a number in a computer. When we need the money, it better be there and not actually less than what we put there.

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Re:People no longer believe working hard will lead to a bett... by hello_moto on Monday January 20, 2020 @12:38PM (#22100508)

Maybe we should come up with an actual number:

Starting Point: $10k

Annual Contrib: $1k (that's $1k per year)

Years to Grow: 20 years (that's $20k contribution)

Annual Rate: 5% (ETF bloggers says 10%, but let's half that)

Total Value: $61,252.23

Money you put in: $30k ($10k + $20k for 20 years)

Money you get: $31,252.23

So let's say at the 21st year, the stock crashed. The crash needs to be more than 50% in order for you to lose your capital money.

First, I believe you can tell your financial institution if you want to cash out.

Second, by the time you retire, usually you don't put your money in high-risk investment but instead if something more "reliable" so the chance you get hit with 50% lost should be at minimum.

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Re:People no longer believe working hard will lead to a bett... by pmoriarty on Monday January 20, 2020 @01:57PM (#22101207)

"by the time you retire, usually you don't put your money in high-risk investment but instead if something more "reliable" so the chance you get hit with 50% lost should be at minimum."

If you retire. You might die before retirement age. Also, by the time you retire you might be too infirm or sick to even enjoy your retirement. Many people also have such a crappy work/life balance that they don't know what to do with themselves when they retire, so they're miserable even when they retire.

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Re:People no longer believe working hard will lead to a bett... by hello_moto on Monday January 20, 2020 @04:48PM (#22102351)

Would you prefer to retire without investment or retire with investment?

I don't understand the negative use-cases from your statements.

"if you retire"

"if you didn't die"

"you maybe too sick"

Are you suggesting not to invest at all because "YOLO, we'll die, or sick-and-die anyway".

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Re:People no longer believe working hard will lead to a bett... by pmoriarty on Monday January 20, 2020 @07:59PM (#22103403)

I guess what I'm saying is that there's something to be said for sometimes living for the present instead of always living for the future. Balance in all things.

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Re:People no longer believe working hard will lead to a bett... by hello_moto on Tuesday January 21, 2020 @09:41AM (#22107271)

That's the thing: you can both live in the present and prepare for the future. It's all about budgeting.

Saving money does not mean you have to live below poverty line. It means you have to "live within your means" => "balance in all things". The hardest thing in life is to deal with "change", in this case, "changing your lifestyle". Those who are not used to "live within their means" will absolutely struggle to do so down the line.

Nobody suggest anyone to put away as much money as possible and live miserably. If we go back to the simplify calculation above given the situation where one cannot afford to travel abroad _right now_, investment can help them with that problem! Nobody say not to touch your investment before you retire. You can withdraw occasionally for reasonable splurge.

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Re:People no longer believe working hard will lead to a bett... by tempsy on Monday January 20, 2020 @12:25PM (#22100399)

Markets have gone up...10 years and running now. Last 13 of 15 weeks have ended green. This is unprecedented. We haven’t had a -1% day in months.

Do I think it will go down sometime? Yes of course. And I’ve hedged accordingly. But people who are scared to invest are missing a once in a lifetime opportunity.

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