Comment on Anon becomes a shrimp farmer
superkret@feddit.org 4 weeks agoYeah, I also know a goat farmer in my neighborhood.
In the same 10 years, she faced an expensive lawsuit from someone who wanted her land, an epidemic that destroyed her herd, animals dying from people feeding them the wrong plants through the fence, Covid forcing her to close the farm to visitors, and other hardships.
She’s barely out of the woods now, but definitely much worse off than if she had invested the money into stocks.
sugar_in_your_tea@sh.itjust.works 4 weeks ago
Yup, stocks are almost zero effort and have an expected return of 10-12% long term. Everything else is a job and is dependent on how good you are at managing it.
shortrounddev@lemmy.world 6 days ago
>have 200,000 >invest in stock market >many years go by >you now have 220,000
Stock market isn’t an infinite money glitch, you have to be rich to start out with or you won’t see any meaningful return to your money until you’re 70
sugar_in_your_tea@sh.itjust.works 6 days ago
If you invest in the S&P 500, your money will double approximately every 7 years, or 10 years if you adjust for inflation.
If you invest $7k (max IRA contribution) at the beginning of every year (makes math easier) and get 7% (conservative, inflation adjusted return) from age 25, you’ll have $1.2M by 65, and you only invested $280k. That’s over 4x growth! If you have $200k and don’t add to it, you’ll have $3M inflation adjusted dollars after 40 years.
Investing isn’t infinite, but if you’re consistent, you’ll inevitably become wealthy.