Losing Patience With the World

[NitroZ7]

It is amazing to me that people on Reddit are literally consumed by the net worth of Jeff Bezos and the top .5% of the population and attribute their ills to the fact that these people have billions of dollars while they are making under $20.00 an hour. Now I understand there is a debate to be had about tax policy, fiscal policy and all of those things and that is a fair point, but how exactly is Jeff Bezos the reason millennials are struggling? There is a whole world between Jeff Bezos and them. Small business owners who make a good living, professionals that make a good living, trades people that make a good living. These people provide for their families and they are not worried about what Jeff Bezos is worth because they are building their own future. Why are poor people so obsessed with billionaires and blaming them when most middle and upper middle class people could care less? Do these people honestly think Jeff Bezos is the reason they are poor or is it they are just pissed that someone has that much money? Just seems like many of these younger people have given up and just don't want to try as it is easier to blame Jeff Bezos and conclude the system is rigged. I swear if they put the amount of energy into their job as they did with their incessant bitching they might be better off.

I'm going to put on my ne pair of New Balance shoes and yell at my neighbors kids for getting on my lawn but I still don't get the correlation between Jeff Bezos and them complaining about having to go to work.

[boneil]

People like having a villian. It's easier to find a villian to blame one's problems on than finding a solution. We see it daily in the lounge. It's easy for Bezos to become a villian, he's the face of Amazon. For a time Amazon was a villian in the lounge as all the little stores closed shop because they couldn't compete. Now, they're a villian for the anti union stance and the tax breaks they get from local jurisdictions. In the very near future, Amazon will be a villian for the automation that will replace many of their workers. What's funny is, Bezos, isn't even the CEO anymore, but his name will always be attached to Amazon.

The other reason he's a villian is because politicians use him as a target, for obvious reasons. Poor people are less educated, therefore easier to influence their beliefs, easier to take advantage of them.

The real villian is lack of financial education. But if we adequetly taught financial education too many people would be well off and retire early, leaving less people who need to work.

[boneil]

I don't know what reddit boards you're on, but I spend more time on r/dividend and r/fire. There's alot of smart young people who are going to be very well off when they get older. I wish I found these boards just 10 years ago, and things would be very different for me.

[NitroZ7]

I don't know what reddit boards you're on, but I spend more time on r/dividend and r/fire. There's alot of smart young people who are going to be very well off when they get older. I wish I found these boards just 10 years ago, and things would be very different for me.

For some reason a lot on r/rebubble and r/antiwork stuff comes up and some of those people are literally praying for boomers to die and threatening violent uprisings. The r/fire and r/thetagang are much more normal.

[g2072]

People want it now. Too many people want what others have. Younger people see what older people have but never stop to think that in most cases the older people worked all their lives for what they own in their latter years.

Debt is common now and it kills the chance to be wealthy for a lot of people. Just look at the average house or car payment. After tags, taxes and insurance I don't see how a lot of people make it.

The way to become wealthy is to start young, stay out of debt and save and invest. Not many are willing to start young enough or disciplined enough to stay with it. I know I didn't start young enough but I did always live within my means.

[motomania]

...............

The real villian is lack of financial education. But if we adequetly taught financial education too many people would be well off and retire early, leaving less people who need to work.

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THIS couldnt be more accurate. Our kids are in middle school, going into high school and the lack of financial education is frustrating. I try my best to make it part of our daily lives and relatable to the kids..............emphasizing they will be light years ahead of 95% of their school by starting to save/invest now.

and to not confuse debt with wealth

(tough sell on being frugal, when kids are inundated with youtubers flashing around materialistic crap 24/7)

but our 'consume' culture would still win out to financial education...............too many people are simply their own worst enemies

[g2072]

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too many people are simply their own worst enemies

In all things, not just money.

[motomania]

In all things, not just money.

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amen to that!

[06 SB]

I agree on financial education! I was reading on reddit where one person was complaining about their students loans and how they should be "forgiven." They had $100K in debt, were making regular $750 payments and after a period (I think it was 9 months) the balance of the loan only went down $2000. They thought all the interest was criminal. Another poster on the same thread said he was making double payments and was making great headway. The replies to him were astonishing. Some poster said he should not be allowed to make double payments but the extra payment should be taken from him and given to some one else!

[NitroZ7]

I agree on financial education! I was reading on reddit where one person was complaining about their students loans and how they should be "forgiven." They had $100K in debt, were making regular $750 payments and after a period (I think it was 9 months) the balance of the loan only went down $2000. They thought all the interest was criminal. Another poster on the same thread said he was making double payments and was making great headway. The replies to him were astonishing. Some poster said he should not be allowed to make double payments but the extra payment should be taken from him and given to some one else!

My other favorite is that I will never be able to buy a house. All the investors are buying them up. Then they mention they live in the Bay Area. Hell I would have trouble buying a house there. They are in one of the most expensive places and can't understand why they can't buy a house.

[dwtaylor]

This is my sister-in-law to a T!

She could drive a forklift at any local factory for 23/hr instead she chooses to work from home at 15/hr and complains that she can't afford to live and it is rich people's fault! HAHA

But it is she who decided to buy a brand new car in 2019 because she "couldn't afford maintenance" on a 2015 chevy cruze that had never been to the shop outside of scheduled services like oil changes.

She goes on an on but every Friday she gets paid, spends money on foolish things over the weekend and come Tuesday EVERY WEEK she is in a bad mood because she can't afford to eat...

She wasn't happy when I told her I don't have debt outside my mortgage and most of my paycheck goes into savings.

[JohnN]

Honestly, why do you care about what a kid in San Francisco thinks about anything? The solution here might be to simply watch your own bobber.