Talking stocks, trading, and investing in general

[brokencycle]

This mindset is a disaster.

1. It’s correlation not causation. Wealthy high status people are more likely to go to college, and more likely to be employed. But the two aren’t necessarily related.

2. It reflects legacy jobs, sinecures and positions held by aging boomers who entered the workplace 50 years ago. That job market has very little to do with our current job market, and will have almost nothing to do with the future job market.

Im proud to say I’m not saving a single penny to send kids to college. I can’t think of a worse thing to do with my money than a 529.

This from the guy who just posted about how title companies have a good scam going. This from a guy who was frustrated that all these tech kids (with college degrees) are bidding up the housing market in the area you're looking.

Any other hot takes?

 

[Joytropics]

1. I stand by the first one. Total rent-seeking. Why does this cost $100 in Iowa (the only state to regulate it) and $2k everywhere else?

2. Your characterization has nothing to do which what i said, which was basically just venting about the competitive market.

 

[RedLantern]

So I'm about 1/3 in cash. I know I need to trim down to just a year's worth of expenses and get the rest into the market but I just can't make myself do it. I keep telling myself I need to see who wins on Nov 3. Is anyone else feeling they're too heavy in cash and afraid to deploy it?

Yes. Same boat.

 

[Piobaire]

People blinded by the sparks from grinding an axe often fail to see what's right in front of them.

 

[Joytropics]

People blinded by the sparks from grinding an axe often fail to see what's right in front of them.

I’m doing just fine.

I make a point of criticizing college because I see it harming the lives of friends and family. They’re taking on tons of debt, removing themselves from the job market, and learning things that are inconsquential at best, and dangerously wrong at worst.

Obviously there’s exceptions. Harvard Medical Scool will have a good ROI.

But that’s not where most people go. And a masters in communication from Temple is a real bad idea.

 

[Darkside]

So I'm about 1/3 in cash. I know I need to trim down to just a year's worth of expenses and get the rest into the market but I just can't make myself do it. I keep telling myself I need to see who wins on Nov 3. Is anyone else feeling they're too heavy in cash and afraid to deploy it?

I can't shake the feeling that equities are overvalued at the moment. I ascribe to the Boglehead philosophy, but it is really hard to keep shoveling money towards a massive bubble.

 

[brokencycle]

I’m doing just fine.

I make a point of criticizing college because I see it harming the lives of friends and family. They’re taking on tons of debt, removing themselves from the job market, and learning things that are inconsquential at best, and dangerously wrong at worst.

Obviously there’s exceptions. Harvard Medical Scool will have a good ROI.

But that’s not where most people go. And a masters in communication from Temple is a real bad idea.

You sound like my dad, who a year ago was using the same talking points (who went to college which makes it even more bizarre). Except by the time I was 30 I was making more money than him.

Show me how I can make six figures with good benefits in a moderate cost of living city without having gone and gotten a college education.

 

[beargonefishing]

You can take my home, my cars, my cash, my stocks, and even the clothes on my back, but you can never take my education.

 

[Joytropics]

You sound like my dad, who a year ago was using the same talking points (who went to college which makes it even more bizarre). Except by the time I was 30 I was making more money than him.

Show me how I can make six figures with good benefits in a moderate cost of living city without having gone and gotten a college education.

Well I don’t want to dox myself, but that’s my exact situation.

Heres the jobs of some people I know or have met in the same situation though:

Commissioned phone sales for high ticket items
Owner of a small carpet-cleaning company
Co-owner of a small IT firm
House-flipper in working-class coastal town
Salesman at a Toyota dealership

I deliberately talk to “blue collar millionaires” because that’s along the lines of my career goals and interests.

FWIW I’m probably younger than most people on this thread (younger side of millenial) and so of course my worldview won’t make sense for people who have been in their career for decades.

 

[brokencycle]

Well I don’t want to dox myself, but that’s my exact situation.

Heres the jobs of some people I know or have met in the same situation though:

Commissioned phone sales for high ticket items
Owner of a small carpet-cleaning company
Co-owner of a small IT firm
House-flipper in working-class coastal town
Salesman at a Toyota dealership

I deliberately talk to “blue collar millionaires” because that’s along the lines of my career path and interests.

FWIW I’m probably younger than most people on this thread (younger side of millenial) and so of course my worldview won’t make sense for people who have been in their career for decades.

It is a waste of time arguing with you, but I know people in similar jobs as those listed, and while they may make low 6 figures, their compensation is pretty much capped at that, they have way worse benefits, and they generally have either some increased risk factor like the physical labor.

 

[Joytropics]

Well by definition none of those jobs are capped.

The IT guy who I know well makes upwards of $300k a year, not counting equity etc.

And benefits are just as good as they cost. He has good benefits because he pays for them.

 

[jbarwick]

I'm living the dream in spreadsheets and poorly formatted PowerPoint presentations. Who wouldn't want to do this for the remaining...checks calendar...30 years of my working career?

 

[otc]

Show me how I can make six figures with good benefits in a moderate cost of living city without having gone and gotten a college education.

Just to play devil's advocate...most college educated people don't get that either, especially not early in their careers.

Inflation is slowly driving "six figures" into being less meaningful, but for individual (not household) income, that still hits ~87% percentile in the US. Throw out the wage earners in high-COL areas, and that percentile probably lands somewhere closer to 90%.

If you're someone looking at saving a bunch of money/adding debt in order to send a kid to a 3rd-tier school...there's certainly no guarantee that they will have a stable 6-figure job. Hopefully you're at least smart enough to send them to a public institution, because 3rd-tier private schools without aid are just a money pit.

Maybe Omega Male's chart is the key--the college jobs are likely to be more stable and not suffer in a crisis like today. Commissioned phone sales and carpet cleaning are probably not doing great today (especially if they had a lot of office clients)....

 

[beargonefishing]

I do wonder if the minimum wage, and lack of indexing or adjusting based on inflation, depress wages overall.

 

[brokencycle]

Just to play devil's advocate...most college educated people don't get that either, especially not early in their careers.

Inflation is slowly driving "six figures" into being less meaningful, but for individual (not household) income, that still hits ~87% percentile in the US. Throw out the wage earners in high-COL areas, and that percentile probably lands somewhere closer to 90%.

If you're someone looking at saving a bunch of money/adding debt in order to send a kid to a 3rd-tier school...there's certainly no guarantee that they will have a stable 6-figure job. Hopefully you're at least smart enough to send them to a public institution, because 3rd-tier private schools without aid are just a money pit.

Maybe Omega Male's chart is the key--the college jobs are likely to be more stable and not suffer in a crisis like today. Commissioned phone sales and carpet cleaning are probably not doing great today (especially if they had a lot of office clients)....

Let me be clear that I'm not saying the only way forward is college. I'm just countering Joy's opposite end of the spectrum of college is worthless unless it is Harvard Medical, and everyone else would have been just as successful without college.

I agree with you on the expensive ****** schools. I grew up in Wisconsin which has a large number of public universities, and while I wouldn't say most of them are good, they're inexpensive and probably better than or on par with those 3rd tier private schools, and you could get a 4 year degree for <$60k total cost.