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Invest0rnoob1 t1_j294end wrote

People are invested in the stock market because pensions have failed.

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Professional_Bike647 t1_j297iqs wrote

You US folks at least have some personal investing mentality. In EU (especially Germany) pensions will fail big time too, yet basically nobody is investing. Boomers are alright because their pensions are fat. Young folks will (probably) be fine because they realized that a train is speeding towards the pension system and investing is mandatory. Everybody in between (too young to get a boomer pension, too old to start building private retirement wealth) is beyond fucked.

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Invest0rnoob1 t1_j298dph wrote

People in the US are investing because they have no other choice. It’s either that or be poor their entire lives. It seems like the government has done everything it can to kill the middle class.

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Professional_Bike647 t1_j299pbf wrote

>People in the US are investing because they have no other choice.

I'm aware. It's one of the major arguments of our boomers why "we" don't have to invest like Americans have to, because we have that great pension system that will take care of everyone [who was born before 1970 /silent part loud].

Hence my initial statement. Young EU-folks are now forced to begin building just the same mindset that has been in the US for decades.

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RedSpikeyThing t1_j294put wrote

Investing in the stock market isn't gambling. The shit you see posted in this sub is definitely gambling. They are very different things.

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LadyLongLegs12 t1_j296kac wrote

Investing anything of monetary value with no assurance that you will gain anything is gambling.

You are investing in hopes you cash out big time, but since it can go both ways and you are never 100% guaranteed. It's gambling ^^

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JIM_BOBBYBOY t1_j296xlq wrote

Exactly. Unless you have some insider information, you won’t actually know what’s gonna happen.

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RedSpikeyThing t1_j2990o4 wrote

Investing in a globally diversified ETFs is hardly gambling. I agree that there are no guarantees so, by your very broad definition, I suppose it is "gambling".

That said, I'd you don't see the difference between investing in the broad global economy and the shit that WSB does then you need some help.

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LadyLongLegs12 t1_j29s5cu wrote

Yeah, me, a person who would never take such huge risks needs help. Not you guys in this sub losing thousands a day. Thanks for your input. I defined gambling as is. Betting money on an uncertain outcome. If you disagree with that, idk cope?

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RedSpikeyThing t1_j29xsjd wrote

>Not you guys in this sub losing thousands a day

Note that I specifically said globally diversified ETFs, which is definitively not what this sub does.

But yeah, if that sounds too dangerous to you then you should probably do some learnin' because money in your mattress comes with its own set of risks.

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paynetrain37 t1_j294yv4 wrote

It’s actually better if the stock market is dropping as you’re just starting to put tons of money into the market. The market will go back up eventually, and it’s better to buy in while the market is low. If you’re < 40 you won’t be using your 401k/IRA for decades.

But yes, pensions were way better. They didn’t go away because they’re better for average citizens. They went away because it’s cheaper and easier for companies.

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JohnnieWalker19 t1_j294gdf wrote

I’m self employed. Can someone please tell me how I can get some of this “pension” stuff?

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biriboi_7 t1_j2964kx wrote

You give pension to employees if you have any. Best way to give pension is to deduct a portion of their salary and put it on EOD options. Then give half you keep half. Literally can’t go tits up

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DGriff421 t1_j295814 wrote

Oh come on and join in the fun! Let your kids college funds ride a volotile option while you white knuckle it all day wondering if your divorce and career at Wendy's in right over the horizon...

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Mango-Bob t1_j295ill wrote

Probably because people are tired of front loaded annuities that pay 2.6% a year. Sure, getting a 539 page prospectus of your funds and a wheelie-dealie calculator is great, but not my bag of tea.

Ask England how their pensions are going…. GILTy as charged, I’ll take the market.

Put in what they’ll match, put it in aggressive funds, then put 12% in a brokerage and dca SPY. Twenty years is on your side. And you don’t maintain a bunch of turds on your nickel.

That debt was killing you, you offset anywhere from ~10-17% on paying it off of it was at a reasonable rate.

I’d say you’re in a better position than most. If you’re clear of debt, you’re solid.

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ionic_bionic t1_j295ee0 wrote

Don't most pension plans invest in the markets to get you a better return?

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More_Establishment49 t1_j295i3p wrote

People started gambling their retirement on the stock market when they realized their former retirement plan the lottery wasn’t gonna pay out.

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Past_Body4499 t1_j294gr4 wrote

Dunning-Kruger effect

People think they can do better than the experts.

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MotoHULK t1_j294yen wrote

IULs are better.

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Low-Action-5817 t1_j2954gh wrote

I want both.. Pension and the ability to lose it all in the market

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FloridaHeat2023 t1_j29582d wrote

I gamble on 26 week treasuries paying 4.6% right now - granted it's really boring, but this market has more downside into 2023 and I'm sitting patient for now.

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DougGTFO t1_j29599m wrote

I’ll bet you like to play it safe with your money.

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BreakfastOnTheRiver t1_j295cyu wrote

It's my release from a long night of sock cucking behind the Wendy's dumpster

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VisualMod t1_j293iuq wrote

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1

CartmanAndCartman t1_j295rl4 wrote

Get the fuck off wsb..polluting us with all your smartness

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Prestigious_Ad5216 t1_j295xbj wrote

Ten to fifteen years ago most companies eliminated pensions in favor of 401k.

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Sea-Internet7015 t1_j296lim wrote

Where do you think pensions make money from? If the market is down and they have not expenses, defined benefit pension plan charge the current workers extra in the event the stock market is down. Alternatively, it bankrupts the pension plan. As the number of retirees grows and they live longer, you also need to charge current workers even higher premiums. It was a great idea, but it isn't sustainable without massive assistance from the government which is why most of these plans that survive are for government jobs: they can just charge the taxpayer (sorry, no choice!) or print money.

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Phx-Jay t1_j2970to wrote

The year was 1887 and Elmer Elmerson gambled his entire life savings after mortgaging his farm on wheat futures….jk….but probably fairly accurate.

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Badeindi t1_j297pl1 wrote

Since they think it's always up.

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DrVentureYT t1_j297wka wrote

The world currently is filled with idiots.

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BullyBumble t1_j2993cz wrote

When the corporate infrastructure ramped up the ass-play…?

In all seriousness, the stock market has been a gambling play-thing for the wealthy for a long time. In finance you can fail into substantial amounts of money.

If the markets were governed by a legitimate authority it might be more prudent to put away substantial savings in bonds etc. - but the lifetime savings of a good chunk of the population will never be enough to make a significant difference in retirement, let alone a difference worth a lifetime of sacrificing every opportunity to enjoy it.

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VisualMod t1_j293jew wrote

>I completely agree. Pensions are a much better way to save for retirement because they offer guaranteed returns and are not subject to the ups and downs of the stock market.

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Cyberhwk t1_j295ysp wrote

Bruh...what do you think those pensions are invested in?

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