Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Show HN: In a single HTML file, an app to encourage my children to invest

roberdam.com

Post reply on HN
Print view View original

321–330 of 448 posts

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#321

Post by sebastiennight »

bluGill wrote: post #306
sebastiennight wrote: post #278

Earlier quoted context omitted.

The root comment was talking about investing 5% of their earnings. If you're making any kind of income at 17 (which admittedly is not everybody) then learning to save+invest a small portion of that can have incredible positive snowball effects beyond the compounding itself. I can't imagine a scenario where at 55 years old, you would miss the 5% of your summer income you invested back in high school. But I can totally…

Most 17 year olds have very low income and education goals. They will miss that 5% in a retirement fund because they are forced to take a student loan to cover that.

Forgive my puzzlement, as I come from a country where you would not consider taking a student loan (if this even existed) to cover the $50 you put into an ETF from your summer job.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#322

Post by joquarky »

bluGill wrote: post #277
sebastiennight wrote: post #229

Earlier quoted context omitted.

As with many times when we use the word "should" (and you've used it a lot), the perspective you're sharing is deeply influenced by your own cultural background and might not apply to many people reading. A few examples: school loans, considering a house purchase to be a sound investment, purchasing once-in-a-lifetime household items, saving for a wedding (from the age of 17!?) or marriage (not sure what you even mea…

The details matter and are personal I agree. Even if a house isn't right for you, you still need to save for the deposit on an apartment. You still need to buy furnishings for your apartment. You won't even know if a house is right for you until you are mid 20s to 30, so it is probably best to save for a house and if you decide at 30 it isn't right for you roll that money into retirement savings (if a house isn't rig…

This kind of advice was gospel in the 90s.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#323

Post by throw-qqqqq »

sebastiennight wrote: post #296
micromacrofoot wrote: post #139

Earlier quoted context omitted.

median emergency savings in the US is $500-600 1 in 5 have $0 50% have enough to cover 3 months of expenses

The math doesn't add up here? You're saying that $500-600 (the amount you claim 50% of people have saved up, if it's the median) covers 3 months of expenses?

I mean no offense, but your understanding of a median seems flawed. The median is the number/point that separates the upper half from the lower half - it is not what 50% has.

The math does add up. There is no contradiction in your parent’s post.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#325

Post by whoooboyy »

koakuma-chan wrote: post #293
whoooboyy wrote: post #289

Earlier quoted context omitted.

I.... they are dealing with systemic poverty. Being poor is expensive. They absolutely know they need to save, but if the choice is "starve to death today but save for retirement OR don't die, but don't save for retirement" most people are going to choose the latter.

I just checked and McDonald's pays $15 an hour, no? That's more than enough to not starve.

Median rent value in Seattle is $2300/month if you are looking for a one bedroom, a little cheaper if you are looking at a studio. Minimum wage here is $21/hr. The first quartile for rent is $1600.

Assuming you work full time, you are making $3360 a month, less taxes.

That means that even if you get the bottom 25% of rents, over half your take home pay goes to rent. Then we need health care, food, taxes, transportation, clothing, etc.

Not a lot of savings easily available there.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#326

Post by FredPret »

tinfoilhatter wrote: post #294
FredPret wrote: post #285

Earlier quoted context omitted.

To your credit, your original comment didn't mention all Jews, just made heavy allusions to stereotypes about them. But now you've removed all possible doubt about what you meant. Criticize individuals all you want, but don't do it by "bloodline", ethnicity, or whether they're a banker or not. Agency lies with the individual.

I am criticizing individuals - individuals who are members of a bloodline that have historically engaged in war profiteering and have been instrumental in running the international central banking cartel. You're right that I didn't mention all Jews, because that would indeed be anti-Semitic. Sorry but I'm not going to kowtow to your ridiculous logic. It's perfectly fair to lob criticism at bloodlines, and if you had…

Criticizing individuals because they're part of a bloodline / ethnicity is:

- the exact opposite of criticizing individuals; you're really just going after the group

- the definition of prejudice

- the foundation of most (all?) giant human catastrophes like the Holocaust, the various communist land reforms, the crusades, and all sorts of horrible events

I'm a conservative, but I have to say this idea of not being prejudiced is really something great that liberalism brought to the table over the past 100-200 years. I'm gobsmacked to see people rejecting this idea.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#327

Post by groby_b »

bluGill wrote: post #204
linsomniac wrote: post #102

There's an awful lot of negativity here, but as someone who's 55 and has earned a good wage since I was 17, I really wish I had taken investing more seriously from the very beginning. While I knew of compound interest, I really didn't understand it until like a decade ago. If I'd started putting 5% of my money into a target retirement plan from 17, I'd be retired now. As it is I'm not doing badly, but I really wish I…

Investing for retirement at 17 is a bad idea! At 17 you should still be thinking about investing in education - the right education investment today will pay back far more than any other monitory investment. There are of course bad education investments, and some are not willing to study even more (or not able to pass a good education course), in that case retirement might be the best investment you can make, but it…

> At 17 you should still be thinking about investing in education

I mean, sure, in a perfect world you can postpone retirement savings. But if we're doing perfect world, you shouldn't have to think about "investing in education", your government should have the basic cognitive skills that would let it recognize that they should invest in education - ROI is pretty spectacular.

Realistically, both, because... otherwise you just pick how screwed you'll be later in life.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#328

Post by bluGill »

sebastiennight wrote: post #321
bluGill wrote: post #306

Earlier quoted context omitted.

Most 17 year olds have very low income and education goals. They will miss that 5% in a retirement fund because they are forced to take a student loan to cover that.

Forgive my puzzlement, as I come from a country where you would not consider taking a student loan (if this even existed) to cover the $50 you put into an ETF from your summer job.

Eventually you just don't have enough. If are short $50 where does it come from?

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#329

Post by tinfoilhatter »

FredPret wrote: post #326
tinfoilhatter wrote: post #294

Earlier quoted context omitted.

I am criticizing individuals - individuals who are members of a bloodline that have historically engaged in war profiteering and have been instrumental in running the international central banking cartel. You're right that I didn't mention all Jews, because that would indeed be anti-Semitic. Sorry but I'm not going to kowtow to your ridiculous logic. It's perfectly fair to lob criticism at bloodlines, and if you had…

Criticizing individuals because they're part of a bloodline / ethnicity is: - the exact opposite of criticizing individuals; you're really just going after the group - the definition of prejudice - the foundation of most (all?) giant human catastrophes like the Holocaust, the various communist land reforms, the crusades, and all sorts of horrible events I'm a conservative, but I have to say this idea of not being pre…

So when authors of history-related works criticize or make remarks about bloodlines such as the Hapsburgs or the Medicis or the Colonnas are you equally as outraged as when it involves a bloodline of Jewish people?

If I navigate to - https://en.wikipedia.org/wiki/Genealogy_of_the_Rothschild_fa... - every section of the page mentions the family being involved in banking. Am I stereotyping members of the Rothschild bloodline by saying they're involved in international banking? I don't think so.

I'm equally gobsmacked by people who claim we shouldn't utilize pattern recognition or who want to pretend stereotypes materialize out of thin air.

Re: Show HN: In a single HTML file, an app to encourage my children to invest

#330

Post by imp0cat »

tonyhart7 wrote: post #311
Brendinooo wrote: post #276

Earlier quoted context omitted.

This is true of most money behaviors! My mom taught me the same thing about giving. And even today, knowing way more about personal finance than I did at the start of my working life, I'm still amazed at how blocking out money in the budget astronomically increases your chances that that money actually goes to the thing you want.

"My mom taught me the same thing about giving." care to share what you learn???

Probably something like this: https://www.youtube.com/watch?v=6ayPuijerjQ tldr; have your kids split their money into three separate "jars": Spend (can be freely spent), Save (this jar generates interest from the money in it, they also have to wait some time to access the money if they want to spend them) and Give (for charity).
Post reply on HN