Sidebar
Finance -> sub migrated
beehaw.org
https://beehaw.org/c/finance If you cannot connect to it, feel free to continue using this sub
www.economist.com
cross-posted from: https://lemmy.ml/post/287387 > is my logic wrong here, like shouldnt any sane person then invest virtually all their money? > > i suppose the main counterargument is that its safer in a bank, anyway im not too knowledgeable so i wanna hear what people have to say here
cross-posted from: https://lemmy.ml/post/241572 > The going rate at used car dealerships is 5000 and a friend of a friend has a car in reasonable condition for 1000. I doubt I could find the 1000 offer later on. > > For reference a like ebike costs like 2000 without shipping and nobody sells them in my region. > > I initially needed a car to get to a job that I don't have anymore. But maybe it'll be useful if I pick up a job outside the city again? > > Also, maybe I could flip the car? since I need the money since i'm having job trouble atm. > > [Part 1 of this post if you're interested.](https://lemmy.ml/post/220614?scrollToComments=true)
change my view cross-posted from: https://lemmy.ml/post/238912 > If you've ever looked at how rightwing movements operate, it appears they throw a lot of money around. And because of the world we live in, it gets results, ex the canadian trucker protest having basically all the same amenities as a festival, nearly a theme park. Advertising budget. Funding institutions/youtube channels to spread bs. > > I think the first thing a leftist should do is, in order: > > 1) get a good enough income for themself. This can include mutual aid or even things like food banks, depending on your philosophy. > > 1b) study some finance, ex [the finance diet](https://yewtu.be/channel/UCSPYNpQ2fHv9HJ-q6MIMaPw) and use tricks from financial sources to boost income. This includes stock market/saving for retirement. I can elaborate later if u want on why savings are important. Including trying to use tax loop holes for our advantage. The rightwingers get an edge from this, we need to even the playing field > > 2) take care of other important things like enough exercise, good diet, dating > > 3) actual left things. But starting with making sure other lefties are well off financially. I'm not sure how to do this and not create capitalists. But technically if you have 0.0001% of stocks, you (the worker) owns 0.0001% of the means of production of that company. A good approach might be starting a worker co-op, where you give people a good wage and recruit youngins right out of high school. That way they learn what a just economic system is and when they branch of to other companies, they will hopefully expect just treatment and be more ready to push for a union in their new workplace.
Laid out in very simple steps, like a strategy guide for a video game. Don't suppose anyone knows of something like this?
seekingalpha.com
I already budget. cross-posted from: https://lemmy.ml/post/156382 > Minimum wage job with no health care and I have high health care costs so paying for my meds out of pocket sucks a lot. > > What should I do now to improve my life? > > Sorry about the question being super broad, but i'm not sure what to do from here. Save up money? Try to get a better job? Trade school? Investments? Dating? Etc
- Buying the car - Insurance (mandatory sometimes) - Repairs - Long term parking spot (garage) - Street parking - parking tickets (sorta) - Fuel - Windshield wiper fluid - Oil change - car cleaning (sometimes) - Wheels (seasonal) Anything else? Indirectly: The burden on the environment, and if you drive long distances every day, your mental and physical health.
Increase my financial literacy, or learning how stocks really work. I took economics 101 and 102 so I know some bare basics about the economy, but in particular I want to learn more about things which I could use as personal finance. Economics 101+102 isn't that much about individuals. Preference would be peertube, then odysee then youtube
www.askthesavingsguy.com
[Retirement](https://www.askthesavingsguy.com/2021/09/18/why-youll-never-retire-unless-you-f-i-r-e/). Ever thought about it? If you’re like most people retirement may seem simple. Its just what you do when you get old. Or, if you’re a little bit wiser that word probably brings you some anxiety and stress. You know that retirement doesn’t just “happen”. You also know that social security won’t come close to covering your needs. And yet, you don’t actually know how you’re going to get there. So you keep socking away money here and there in the hopes that it one day adds up to be enough for retirement. But what amount is that exactly? And how many more years will it take for you to get there? If you’re a financial guru you already know that number. Mine is 20. What’s yours? How do you figure out your retirement number? Its simple really. Its 25. 25x your annual expenses is what you will need to save in order to retire. For life. Regardless of your current age. If you were 30 and had 25x your annual expenses saved up you could retire right now. Today. Sounds crazy right? Its not. Its simple. Save up 25x your expenses and you’ll never have to work another day in your life. Its called the 4% rule. No need to wait until you’re 55, or 62, or 67. No need to wait on hitting your ‘retirement age’. You just need to wait until you hit that 25x figure. But how do you get there? Well, If you’re follow the standard financial advice that the world preaches you’re putting away 10% of your income annually. So how long would it take to retire? We’ll, if you haven’t started saving yet and you were to start today, it would take you 41 years to retire (assuming you’re investing your savings with a 7% return rate). Yikes! That’s a very long time. Thankfully there’s a better way. It’s Called F.I.R.E, and its a movement that stands for Financial Independance, Retire Early. Its a philosophy that preaches if you take control of your finances, you can retire on your own terms. Sometimes Decades earlier than you think. So. How do you FIRE? The concept is simple. If you save 10% of your salary per year, that means the other 90% is being spent. Say you’re getting paid $50,000 per year. You save $5,000 and spend the other $45,000. That means it would take you 9 years to save up just 1 year of living expenses. If you raise your savings rate to 20%, saving $10,000 per year, it would take you just 4 years. Thats because not only are you saving an extra $5000, but your living expenses have now been reduced to $40,000. Now image you upped your savings rate to 50%. You’re now saving $25,000 and spending $25,000. Every year that you work is a years worth of living expenses saved. Do you see how increasing your savings also has the added benefit of decreasing your expenses? Its a double pronged sword that works for your benefit and can drastically reduce the amount of time you need to spend saving. And it gets better than that. If you were to invest those savings you can get to your retirement age even faster. Say you were to invest your savings into the broader stock market anticipating a not unrealistic 7% return. with a 30% savings rate you could retire after 25 years. 50% savings rate? You could retire after 15 years. Check out the graph below and see the correlation between your savings rate and your retirement date. If you have any other financial questions, remember you can always Ask the Savings Guy! askmrsaver@askthesavingsguy.com