Yeah I read theory
Yeah I read theory
Yeah I read theory
Matt Bruenig has a great and short tutorial on personal finance and investing, https://www.youtube.com/watch?v=Efr2UORgO2w
the graphic at 17:30 summarizes the hierarchy of savings (1. Emergency fund 2. employer-matched retirement 3. high-interest debt 4. other tax-advantage accounts 5. low-interest debt 6. taxable brokerage account) - he notes that he and most others will never make it to 6.
The graphic at 31:00 summarizes common pitfalls to avoid, unless you have a deep passion. 1. individual stocks 2. crypto 3. house flipping/renting (don't be landlord ... for financial reasons!) 4. expensive homes 5. private k-12 education
I unironically love federation
Your post is clearly in good faith so I won't shit post or try to dunk, just so you know this instance is full of tankies and anarchists, investing is antithetical to our beliefs and any post about investing you see from this community is mocking the whole concept
investing is antithetical to our beliefs
I don't believe the Proletariat having a 401k and/or a Roth IRA in order to survive retirement is antithetical to leftist belief, but I am willing to be convinced otherwise. Even Marx speculated in the stock market. Ultimately, Leftists refusing to invest will do nothing at all to further expedite the end of Imperialism and eventually Capitalism, all it will create is homeless leftist seniors (if America lasts that long).
investing is antithetical to our beliefs
You're welcome to dunk, I don't mind.
Assuming you engage in wage labor (despite it being antithetical to all of our beliefs) and your employer offers you a greater portion of the fruits of your labor via a matched savings account, is it wrong to accept it? I think it's not wrong at all, and workers should accept and make the most of their 401k.
Bruenig's video is a framework for understanding personal finance from a leftist perspective, or the "personal welfare state" as he calls it. These are things the state should handle, but instead has created a mess of rules we have to decipher.
We live in a capitalist economy, at this point it is absolutely dominated by finance and speculation rather than real growth and production, and it is pretty hard to survive long term without investing, particularly if you ever want to buy a house. House prices tend to rise faster than inflation, so you're losing on both inflation and appreciation. I don't think this should be the way it is, but it is the way it is. House prices and the rental market are linked by future cash flows so there's no escaping it unless you are homeless.
The person you replied to knows all that.
I found a YouTube link in your comment. Here are links to the same video on alternative frontends that protect your privacy:
I'm ready to get dunked on but here we go
Check out this person over here, thinking they can be a communist like this. Everyone knows communists need to forsake all wealth and worldly possessions to achieve enlightenment!
Invest into land with water rights cause 😬
Kinda? The Proletariat in western countries is forced to invest to retire, unless you can get pensions or a large safety net. The stock market has already been "solved," the answer is broad market-cap weighted globak funds with low expense ratio. Anything else is mysticism and gambling.
Yep, invest in index funds. If the entire market crashes, then either a) you have much bigger more immediate problems or b) we just did communism.
Eventually, Marx's Real God of Capital will be slain.
well,
I'm skeptical that one could, but intrigued one may.
Tbhbbq if it generates income, which can be spent on Good™️ stuff, and doesn’t hurt anyone in the process, I don’t have a problem with it—like that brief moment in time I had $4,000 and I spent close to $1K just giving money to my other homeless friends, including helping my junkie friends stay well here and there.
The communist investment is you and your friends buying out a factory and just working there
Workers' ownership of the means of production!
dialectical synthesis tells us there are SOME books that SHOULD be burned
Basically the point I am trying to make, Workers clawing back their stolen value from the stock market is fundamentally different from mass accumulation from the bourgeoisie.
Me buying Norinco and Huawei stocks
Me buying BYD stock
Cursed
Marxist theory can give you insights on how to play the capitalist game. If you read it like a psychopath.
I joke that Capitalists would get the most value (figuratively and literally) from Marx, but are ideologically allergic to the reading.
I've seen quite a few statements from big Wall St. people who have clearly read Marx
I think a lot more capitalists understand Marxist theory than most would think
Smart vampires do read and understand marxist theory. They apply it to become more powerful ghouls.
Hillary Clinton gave a speech talking about how we need to seize the means of production back from China.
I can't remember where, but I've seen Peter Thiel give business advice that's very clearly Evil Marxism.
Maximal fossil fuel yeah