If that’s your definition of financial success, you - almost certainly - will not be successful. If you are on track for, say, an Ivy League education, then you have a realistic chance, with the right degree. For most people, it will be clear by age 18 whether the chance is realistic or not.
It doesn’t unless that’s your only goal. Having wealth gives you a lot of flexibility and potential, but it is not a good in itself. It can be used for good or evil, and it may require great sacrifice to attain it.
All you had had to do was be born in the 70s and buy a house in the 90s. That house should be worth a million by now.
Regardless your are exponentially more likely to fall down the ladder than rise a single rung above your parents. You’re pulling off a miracle of you can match your parents. I don’t know anybody that is
Even though it’s unlikely for most people, I don’t see anything wrong with trying to become a millionaire, and I definitely don’t think it makes anyone an idiot to try. I’m a millennial working in trades, and I’m already wealthier than my parents were at my age. I’m not a millionaire, obviously, but I’ll likely reach that point by the time I retire. It takes both luck and effort, but it’s doable - and discouraging it just feels unnecessarily cynical.
I’m also a millennial working in the trades. When I choose to work full time I make more than my parents did, combined. I work for myself tho and right now I’m working maybe one job a month because I’m building my own house by myself. Once the homes waterproof then I’m completely overhauling my work van and going back full-time. I can build my cabinets, shower pan, stairs etc on the weekends. I need to fix the safety net after covid wiped it all out.
My parents money went a lot further than mine tho. Shit they bought the place I grew up in for $35k in 1990.
I hope your optimism is correct and that retirement is even possible. I don’t see how I can, even owning the land I’m on now, without expatriating - which I’m not against, trust me, Americas done very little that I can be proud of, there’s clearly a discrepancy between ideals and mores, of meaning and purpose, and every developing country I’ve been too has been more welcoming and felt safer than this shithole. America is a 3rd world country with iPhones, living in fear of untouchable gangs (police)killing them without regard. The terrorism is the point. The cruelty. Is.the.point.
I think inflation is going to take everyone retirement. I think Trump will privatize social securty and Medicaid and I think the following depression will find private equity losing it all and everyone just being left stuck out. Make America Great Depression Again, herewego
Why does it make someone an idiot if they wish to be a millionaire?
The idiotic things are:
to make it the measure of financial success.
to believe you can make it.
If that’s your definition of financial success, you - almost certainly - will not be successful. If you are on track for, say, an Ivy League education, then you have a realistic chance, with the right degree. For most people, it will be clear by age 18 whether the chance is realistic or not.
Millionaire isn’t 1%. Everyone with a 401(k) in their 60s is one. It’s younger if you count assets like houses.
One doesn’t need to be a billionaire to belong to the 1%
It doesn’t unless that’s your only goal. Having wealth gives you a lot of flexibility and potential, but it is not a good in itself. It can be used for good or evil, and it may require great sacrifice to attain it.
All you had had to do was be born in the 70s and buy a house in the 90s. That house should be worth a million by now.
Regardless your are exponentially more likely to fall down the ladder than rise a single rung above your parents. You’re pulling off a miracle of you can match your parents. I don’t know anybody that is
Even though it’s unlikely for most people, I don’t see anything wrong with trying to become a millionaire, and I definitely don’t think it makes anyone an idiot to try. I’m a millennial working in trades, and I’m already wealthier than my parents were at my age. I’m not a millionaire, obviously, but I’ll likely reach that point by the time I retire. It takes both luck and effort, but it’s doable - and discouraging it just feels unnecessarily cynical.
I’m also a millennial working in the trades. When I choose to work full time I make more than my parents did, combined. I work for myself tho and right now I’m working maybe one job a month because I’m building my own house by myself. Once the homes waterproof then I’m completely overhauling my work van and going back full-time. I can build my cabinets, shower pan, stairs etc on the weekends. I need to fix the safety net after covid wiped it all out.
My parents money went a lot further than mine tho. Shit they bought the place I grew up in for $35k in 1990.
I hope your optimism is correct and that retirement is even possible. I don’t see how I can, even owning the land I’m on now, without expatriating - which I’m not against, trust me, Americas done very little that I can be proud of, there’s clearly a discrepancy between ideals and mores, of meaning and purpose, and every developing country I’ve been too has been more welcoming and felt safer than this shithole. America is a 3rd world country with iPhones, living in fear of untouchable gangs (police)killing them without regard. The terrorism is the point. The cruelty. Is.the.point.
I think inflation is going to take everyone retirement. I think Trump will privatize social securty and Medicaid and I think the following depression will find private equity losing it all and everyone just being left stuck out. Make America Great Depression Again, herewego