I'd love to rant more on this topic, but it boils down to this:
Investment people, the ones that talk about putting money back, and talk about cryptic shit like 401k, IRA, Roth, stock market, bonds, mutual funds, etc; are absolutely positively unwilling to help people do so. After talking with various firms over the last 10+ years either as a client, employee, or in casual conversation, I have been shut down and told to gtfo every single time. Apparently investing has a "you must be this rich to ride" barrier that can't be breached with anything short of half a million dollars. I've never understood this, and it makes me angry that with all the people and managers that give long boring speeches about building wealth, none of them will help you get there. All they want to do is play with rich people's money like a toy. I have a 401k and several unrelated investments, and my assigned manager AND the asshole my parents hired to manage them refuse to actually do so or help me by actually 'managing' the funds until I've got at least several ten's of thousands of dollars invested. All I can think of is, 'boy it sure would be nice having some help getting there first.' But they really want to play with people's already made money.
I mean, how am I supposed to make the first 20k (first multiple of 'tens of thousands') if all I can do is waste money and time dumping it into under-performing funds in my 401k? Sure, in a few decades, I'll get there with company matching (assuming I still have a job then), but how is this any better than just spending it on garbage? I really feel like I'm throwing my money away investing in the first place.
This is just more leftover crap from our parent's generation and their parent's generation when the economy boomed for decades and they must have had to try hard to fail to make money or something. Meanwhile most of my true friends are unemployed or underemployed and living at home still in their 30's. If no one is willing to help us and our children make money, then there won't be many new investors coming into the market. I think we are going to hit the point soon when these vultures end up cannibalizing their own clients just to stay in business because no one new is showing up. I mean, I don't know many people myself that make enough money to pay rent much less put money back. Hell, I took the last two year's tax returns just to start my own retirement plan, and that isn't doing very well even with company matching.
I feel like a fool for even throwing my money away in the first place, and if it wasn't for my 401k reducing my taxable income or something no one will explain, I wouldn't even bother doing that. My dad had a fully funded company matched 401k when the economy collapsed and he lost almost all of it's value. Now he has to work past retirement just to pay for food. I hear this happened to a fuck ton of people in 2008, and now I'm perpetuating this lie. Why? I can think of so many other things I could buy for the amount the 401k steals from me each pay check. Hell, I could buy precious metals, or pay down my student loans faster, or fucking anything.
I just don't understand this arrogant attitude that fund managers, investment managers, etc have that they don't even want to talk to you until you already have enough money you don't need them anymore. To me, the point of paying someone is to help you freaking invest, as in get started on your way to making a million dollars to retire on. Cause how many people have a spare million or two just laying around not doing anything right now?
"Man, I have all this money just sitting around being taxed not doing anything, guess I better go hire a manager to do something with it." said almost no one ever.
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