Separate names with a comma.
Discussion in 'The Mainboard' started by Joe Louis, Jul 12, 2010.
Anyone have that Discord link. Got a new phone and ITV won’t come up
havent had a five figure loss in forever, so bring it on I guess
omfg a bloodbath this morning
Snack Fact Of the Day
60% of Millennials earning more than $100K/year say they're living paycheck to paycheck, according to a new survey
High-earning millennials feel broke.
Sixty percent of millennials raking in over $100,000 a year said they're living paycheck to paycheck, found a new survey by PYMNTS and LendingClub, which analyzed economic data and census-balanced surveys of over 28,000 Americans.
It found that about 54% of Americans live paycheck to paycheck. And nearly 40% of high earners — those making more than $100,000 annually — said they live that way.
That means high-earning millennials aren't the only ones feeling stretched thin, but they feel that way more than their six-figure-making peers. Living on constrained budgets may therefore have less to do with income and more to do with expenses, the report said.
That's partly because of lifestyle choices. Many of these millennials are likely HENRYs — short for high earner, not rich yet. The acronym was invented in 2003, but it has come to characterize a certain group of 30-something six-figure earners who struggle to balance their spending and savings habits.
HENRYs typically fall victim to lifestyle creep, when one increases one's standard of living to match a rise in discretionary income. They prefer a comfortable and often expensive lifestyle that leaves them living paycheck to paycheck.
Read more: Here's why so many millennials making six-figure salaries still feel broke
A $100,000 salary isn't what it was
The economy is also a huge factor behind why six-figure-earning millennials feel broke.
As the report said, "Living paycheck to paycheck sometimes carries connotations of barely scraping by and of poverty. The reality of a paycheck-to-paycheck lifestyle in the United States today is much more complex, and the current economic environment has made it even more complicated."
It cited the example of a college-educated 35-year-old earning more than $100,000 while juggling a mortgage, student-loan debt, and a child, which could leave them with little savings for big purchases or unexpected emergencies.
The generation is facing an affordability crisis. Income increases simply have not kept up with an exponential increase in living costs, and the pandemic hasn't helped matters by throwing job loss and pay cuts into the mix.
The cost of education has also more than doubled since the 1970s, leaving many millennials with student debt. Priya Malani, the founder of Stash Wealth, a financial firm that works with HENRYs, previously told Insider that 40% of her clients had student loans. On average, they owed $80,000.
As a byproduct of this increased cost in living, the middle class has been shrinking. Pew Research Center defines the US middle class as people earning two-thirds to twice the median household income — i.e., about $48,500 to $145,500 in 2018, the most recent data available found.
That means a six-figure salary is no longer what it used to be. In today's economy, $100,000 is considered middle class in the US.
What a difference 32 hours makes
Made all of my losses up and then gained another 1.5%
We should try to have those every day.
Have an automatic purchase set up for payday, so when Thursday was rough I thought oh at least I’ll get a bit of a “discount” on Friday…guess not
being talked about a lot but this one has chart
are inflation hawks the least logically stable crew? at least find someone who is arguing the pandemic exclusions are off base, because that's really all the fed cares about is the inflation they could theoretically have an impact on
like you can make a lot of money if you think the long term yields are way off base! go for it!
As someone with a fair amount of student debt and a mortgage and all that…I’m okay with a little inflation.
anyone with debt should be loving it
Can you explain what you're getting at here?
that the pandemic caused idiosyncrasies will be less responsive to fed actions and shouldn't cause fed actions in the first place vs "real" inflation
like say, hotel pricing
I think the fed has done a pretty masterful job controlling inflation for the last 35 years or so.
I also think the last decade of QE is going to put that ability to a big test in the next 3 years.
It's very obvious supply side issues due to the pandemic and people not returning to work due to finding new jobs is causing increase in prices. Like this isn't hard folks, anyone saying otherwise is pushing garbage. Also prices increasing was inevitable once people started participating in the economy again.. Y'all thought gas was gonna stay below 2 dollars?????????
you agree with whats caused the dove-ish swing among most economists?
or you more of a Volcker guy?
I think Volcker obviously got a lot of pub and was hailed as a hero (rightfully or wrongly, I don't really know or care). What I do believe is that a stable, low inflation rate is key to a successful capitalist economy in today's environment and we have achieved that.
Open to reading more; I am not an economist.
as the Friedmanites have aged out of relevancy Volcker has definitely gotten a second look and it's much more negative, especially after the last 15 years of evidence came in.
its more just target inflation rates without insane hawkishness to keep it below target as the benefits of a rapid return of full employment are seen as worth a period of overshoot, run the economy hot and adjust vs run the economy cold and adjust as needed. especially with the evidence we got from the great recession and the rebound. also that the US isn't really at risk of runaway inflation for many many reasons and we should leverage that to our advantage (full employment). we made huge mistakes in having unnecessarily high unemployment and despair by not stimulating rapid reactions to recessions out of everyone having PTSD from the 70s (which there are endless books about why that isn't really replicable now and in dispute of why it happened, most coercive to me is failures by the fed in response to political pressure and global dynamics we couldn't really combat)
most recent example of hawkishness backfiring being the micro recession caused in '16
DRNG got acquired by another company and almost up to a penny now. Should probably sell this news but YOLO
Final buy of ICLN yesterday
250 shares @22.27
Position is now 2,171 shares @23.90
Need to find another sector for my next chunk.
What do you guys think of the weed ETF’s like THCX - semi-longterm like 5+ years? I mean things continue to shift towards it being legal everywhere right? With this Cannabis Opportunity Act or whatever
I think illegal weed is still cheaper in places? I don’t know how much more of a market it’s going to be?
Yeah I thought of it weed as a lotto ticket couple years ago too, but the charts just don’t look good. I took a loss on it last year and moved on. I think you play solar or space if you’re looking for a big reward in 5 years.
As long as states don't do what CA does with weed, I think it'll be a good long term play. Solar will be similarly kept down until the majority of the 60-80 yr olds in Washington GTFO. Although with GM and Ford moving forward with EVs, Green energy should be a little quicker.
Green energy (current tech) and wide scale ev do not exist together reliably. I am sure I am going to get smoked by the usuals for saying this but it is the truth.
SMOKE HIM, BOYS
Ohio has medical and the prices are 50-100% higher than states like Colorado and California for recreational use
10 pack of 10mg gummies are over $40 for the most part. Usually $20 elsewhere.
Carts that are $40ish elsewhere are $60-80 here.
Flowers about $10-15 a gram, but you can only by in increments of 2.83g. A half oz ends up being around $200 of good stuff
fucking covid man
Can we dip until end of month when I get a big commission check? I’m 98% invested right now sooooo just sitting here wanting to not have to keep buying at the top of the market each time. Good problem to have I guess.
But moments like this should motivate me to find another potential stream of income for my super early
retirement goals yet I’m too lazy.
Good buying day
just finished seeing how much liquid i had to put in
I put in 10k this morning
Got paid on the 15th. Bought more of my total stock market index fund right around opening. And things have pretty much declined ever since. Sigh.
I mean it would have been nice if I waited at least a could of days.
Just adding to positions?
Just bought 200 more shares of GE. Down 5% today. Get myself a nice quick pop tomorrow.
So I’ve owned Slack for over a year now (and Salesforce for even longer) but later this week I’ll be getting like $26/share of slack in cash and something like .075 shares of Salesforce per slack share. My question is, will those new shares of Salesforce already fall under long term capital gains or will I have to wait a year?
I don’t plan on selling them either way but kinda curious as this is my first time going through an acquisition as a shareholder.
blew about 30% of my cash today, another day or two like this and I'll go a little harder in the paint.
I want to see more red before I start saying good buying day
I don’t know how much I mean it. It just makes me feel better to say.
Made $100 on this one risking $2,400. 4% in a day not bad!
Lost 1.8% yesterday. Up 3.1% this morning. I'd like that to maintain plz.
As I've mentioned, this year is really my first year fully committed to retirement. I created both a Roth IRA and HSA. And I've contributed the max to each from cash savings. I did this early 2nd quarter. So my balance isn't growing except for market fluctuations.
I'm contributing monthly to my taxable brokerage account, but since I'm at the max contribution for my tax deferred and non taxable accounts, I'm a little bothered. Next year it won't be a big lump sum as I'll likely reduce my brokerage account monthly contribution until I've met the max again for the HSA and the Roth IRA.
But until then... I'm stuck when it comes to saving more.
Does anyone have any suggestions, advice? Or am I basically just going to be watching what the market does to both the Roth IRA and HSA, and not be able to contribute further until 2022?
That's the quandary with lump summing vs dollar cost averaging. Lump summing is about 65% on coming out ahead. Unless you have a 401k and one that allows for after-tax Roth conversions, you've done all you can for tax advantaged accounts.
Yeah I think next year I'll be doing just whatever I can each month until I max them out again. So not entirely lump sum, but also not taking the entire year to max them out either. Hopefully that doesn't take the entire year but it just depends. I'm not sitting on a lot of cash any longer since I've started investing.
Edit: I am however building an emergency cash fund but that won't be touched