I wonder if one of the causes of animosity towards “entitled millennials” is that many millennials are poor people who look rich. There’s this growing class of people who wear nice clothes, have fancy new electronic gadgets, go out to eat nice food… and will never own a home or have a retirement fund or put a child through college.
It’s so easy to say “if you cut down on the avocado toast maybe you could save up”, and so hard to accept that a house these days is fifty thousand avocado toasts, and that’s why so many of us have just given up. We don’t treat ourselves because we think the world will take care of us when we get older; we treat ourselves because we know it won’t. Might as well feel and look good on the way down.
Yeah… point, but… undeniably saving $5 means that later you have $5 saved, and investing $5 means later you have more than $5. The common-sense fact remains that it’s not a great idea to spend money on luxury items when you’re broke, and it’s especially not a good idea when the thought process that led you there is a fatalistic “I’ll never be any less broke than I am now”
(caveat: i am not against poor people ever treating themselves. humans need to treat themselves and no one should be expected to be perfectly financially responsible.)
“investing $5″ l m f a o
anybody know any good mutual funds that will accept my hefty investment of $5 every two weeks?
You can download an app for your phone or mobile device called “Robin Hood” that lets you trade stocks for free – https://keepingstock.net/my-first-two-months-trading-stocks-with-robinhood-9580af92532c
… and there are TONS of what are called “penny stocks” – i.e. stocks worth less than $1.00 that you can buy and trade at your discretion https://investorshub.advfn.com/Robinhood-Penny-Stocks-31575/
So 5 bucks could actually get you a pretty decent portfolio… not to say that you’re going to see huge returns on something that small, but it is absolutely possible to “invest” 5 dollars. If nothing else you can impress your friends by talking about checking your stock portfolio, but withhold the fact that it might only be worth $11.50. 😉
(Apologies to the OP here who is making a completely separate and valid point – I just wanted to reply to the previous commenter)