The lack of cash in either savings or checking accounts suggests......................
and now they are taking via inflation. It is just a horrible time.
Buy stock. At least invest in a 401k plan. That and social security will make retirement better. If married and no kids then bank the 2nd income or most of it. If kids then you will have more expenses of course. Live cheap.
I had invested $13,000 in Ford in 2009. It tripled in a year. I sold in 2014 as back then and since it has not done better. I have bought one stock at a time then sold to buy another.
apple, netflix, nvidia, and now AMD since sept 2018.
Had ups and downs but that $13,000 turned into seven figures.
At $172 a share the AMD stock will be worth seven figures after taxes if I sold. Right now I borrowed against the money I already had paid taxes on. The last 2 years I did not have to pay taxes. I live cheap right now but in a year or so I can afford a nicer place : )
I am not selling until Elon Musk has the Starlink IPO which will rocket UP and let me not worry at all about money. Maybe buy a seat on one of his rockets : )
I wish I had kept nvidia but amd did better at the time so I could retire in Nov 2021. Nvidia went up from $112 to $721 in about 16 months (oct 22 to now) ...
I would have a million more but at the time AMD was doing better.
I am hoping AMD which makes cpu, graphic chips and chips for AI will follow this coming year. Already up from $58 to $172 in 16 months. (oct 22 to now)
I and millions of others would have been better off if congress had not ruined the economy by spending 1/3 more and caused the high inflation and prices and job losses and tanked wall street stock prices.
Once Donald Trump is elected, the stock market will zoom UP!
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The Motley Fool: When Will Starlink IPO? Starlink didn’t have an IPO on the calendar as of late 2023. A November 2023 Bloomberg report said that SpaceX was discussing an IPO of its satellite internet business, which could come as soon as late 2024 or 2025.Dec 20, 2023