IGotWorms

Detroit thought the half was over

No, Biden did the right thing. You MAGAtards sabotaged democracy to give a gift to Putin, because he’s Trump’s butt buddy

No, dumbass, we should not make friends with China. We should stand up to them, but since we won’t even stand up to their flunky friends the Russians, it ain’t looking pretty https://www.businessinsider.com/russia-china-brink-military-alliance-may-overwhelm-us-putin-xi-2023-12?amp

We’re donezo. Ceding Ukraine to Russia. Taiwan already seeing they can’t rely on us as allies, Europe, Japan etc will draw the same conclusion. Why wouldn’t you shift away from US alliance and towards China? Might have to hold your nose but that’s what you’re gonna do

I didn’t beg for (and then receive) Russia’s help to win a presidential election, so I’m not sure the analogy is accurate. And before you deny…

Baker crashing back to earth? I like the guy though

Oh okay so “over 90k” really meant like $200k? This is getting too close to a d1ck waving contest, which is just silly. Suffice to say, regardless of how well you’re doing in the market (you probably shouldn’t have 400k in one stock though), you could have done all that AND been building equity in a home. It’s fine you chose not to but not many folks are going to sign off on that as the best possible path towards building wealth.

Ah okay, I thought maybe he was looking up property records

You stalking again?

Seems pretty unlikely. You’re crowing over 90k in total returns this year would indicate somewhere around 450k - 500k total in the market. Not bad but, tbh, not especially close to the value of my hizzy

I would say that once you are in a relatively stable situation in terms of personal and professional life, the very strong presumption is that you should own. Yes it won’t be true for everyone but it should absolutely be the default imo

S&P is already diversified among top 500 companies. There’s an argument for total market instead and I wouldn’t begrudge you that. Historically the s&p 500 does better and has been the sweet spot in terms of adequate diversity while still focusing on quality stocks, but past performance does not guarantee future returns, that is true

It’s symptomatic of that entire side of the aisle these days. They’re not very sophisticated and do/believe dumb sh1t. Then when people benevolently try to enlighten them they think they’re being talked down to (and, quite honestly, they are a bit), and insist on proudly doubling down on their ignorance. Sadly that’s about half the country today Mind you it’s not all great on the other side either. Leftists have plenty of idiots too and some of them are also quite capable of doubling down on their stupidity. But at least so far, the line has mostly held and the centrists and more rational liberals have said “no, truth matters.” Look at the geek club as a microcosm. We have maybe one or two posters that unquestionably buy into left wing orthodoxy, a group of posters that are somewhere in the middle, and then a near or actual majority that are batsh1t insane righties. But I do think that’s all going out the window this November. The batsh1t insane righties are poised for an irrevocable victory (irrevocable for the near-term, at least), with all the implications that follow. It’s basically a fait accompli at this point. Best thing to do now is prepare as best you can

I never said the bolded and only a pea-brained simpleton like you could ever even think that would be true. I’m currently on track to retire at 62. Would prefer 59 1/2 but it looks like the financial drawbacks would be too great. But hell, I just hope I’m lucky enough to live that long and stay in relatively good health

The point here, peefoam, is that in matters of finance and net worth, you can, and should, be able to walk and chew gum at the same time

I did cite to an article saying that, on average, homeowners have 40 times the wealth of renters. Yes. It does not stand to reason that happens overnight I mean by your logic if I invest a bunch of money in the market today I probably won’t make hardly anything by tomorrow and may even lose money. I guess nobody should invest in the market then The idea is that over time home ownership will almost almost always win out and usually by a very considerable margin. You should’ve gotten started a couple decades ago but it may not be entirely too late for you yet. My advice to you would be to wait until rates come down down a bit and pounce on buying a home (or condo, since you seem to prefer low maintenance) as soon as the getting is good — probably this summer or fall would be my guess

That’s basically impossible unless you’re renting a cardboard box? Sh1t, even then, not in NYC

I also got a great rate of return in the market over the last year AND I have about 400 grand of equity in my home. Oops

I doubt the bolded, and I’m probably even a good 10-15 years younger than you As for the rest, it doesn’t even make sense. Did you have a stroke or something?

Wrong. Well you’re right on the benefit of renting. That’s why it’s good for young people and possibly for types who have to move around a lot, like if you’re in the military or you’re a serial killer. But you’re way off on failing to perceive the benefits of home ownership. With a fixed rate mortgage you cap your hard costs of shelter. You cannot do that with rent. Now mind you there are still associated costs that can change, like taxes, utilities and insurance. So its by no means perfect, but it does control your costs as best you can, which you always want to do if possible. You’re also completely ignoring that you build equity and when you’re done paying the mortgage you’re sitting on a substantial asset you own free and clear. Even the sh1ttiest house today is worth hundreds of thousands in all but the absolute worst markets in the country. More likely it’ll be worth $500k to a million in today’s dollars. That’s the biggest asset most people will ever own. There really is no question that you should own once you are in a stable situation. You might have a few exceptions based on work or life choices but passing up the benefits of home ownership is almost always a huge net negative that must be factored in.

Look you’ve made a really stupid decision being a renter for your entire adult life. I’m sorry you did that. But the answer is not to double down and encourage others to make the same mistake

You’re way over complicating it. Put X percentage (depending on how close you are to retirement) in a low cost s&p 500 index fund Put the rest in a low cost total bond market fund. Done, over. It’s only if you truly have a sh1t ton of money invested in the market (like over $3-5 million) that you need/want to branch out to REITs, emerging markets, etc.

I broke peefoam

Damn I had the over on a Reichstag reference at 3 pages

nobody is not usually a big fan of the worm