Wealth Planning For DIY Traders/Investors & Biz Owners. *Market, Macro & Money Takes*
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Robert Kiyosaki has been the ultimate financial doom and gloomer.
He’s been calling for a major all-around asset crash for years.
Here are a few of his INSANE predictions and how much $ you would have LOST if you followed him:
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Nikki Dunn, CFP® retweeted
Space? Wrecked
Nuclear? Wrecked
Semis? Wrecked
Power? Wrecked
Optics? Wrecked
Quantum? Wrecked
Batteries? Wrecked
Rare Earths? Wrecked
Drones? Wrecked
Robotics? Wrecked
Solar? Wrecked
Gold & Silver? Wrecked
Few places to hide lately
Software, energy, biotech tho...
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Younger Americans had more average household wealth at age 34 than Boomers did at the same age.
Community note
The chart shows average (mean) wealth of households headed by each generation at ~age 34, skewed by wealthy outliers. Median wealth at similar ages was comparable across generations per SCF data; fewer young adults heading households biases recent figures upward for them.
stlouisfed.org/open-vault/202…
stlouisfed.org/on-the-economy…
youngamericans.berkeley.edu/2024/05/scf-co…
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Okay, I see a lot of people are upset that the data suggests younger generations aren't doing quite as poorly as the popular narrative would have you believe.
So let's look at MEDIAN wealth instead of average per your requests.
According to the Federal Reserve, age 30 net worth:
Boomers: $21,481
Gen X: $27,152
Millennials: $22,122
Yes, adjusted for inflation and median.
Does this mean younger generations don't face serious affordability challenges, particularly with housing? Of course not. The data there clearly shows it's harder to afford a home for younger generations.
We should be able to discuss both without dismissing evidence that challenges our assumptions.
Source: St. Louis Fed, Survey of Consumer Finances (1989–2019).
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Okay, I see a lot of people are upset that the data suggests younger generations aren't doing quite as poorly as the popular narrative would have you believe.
So let's look at MEDIAN wealth instead of average per your requests.
According to the Federal Reserve, age 30 net worth:
Boomers: $21,481
Gen X: $27,152
Millennials: $22,122
Yes, adjusted for inflation and median.
Does this mean younger generations don't face serious affordability challenges, particularly with housing? Of course not. The data there clearly shows it's harder to afford a home for younger generations.
We should be able to discuss both without dismissing evidence that challenges our assumptions.
Source: St. Louis Fed, Survey of Consumer Finances (1989–2019).
Younger Americans had more average household wealth at age 34 than Boomers did at the same age.
Community note
The chart shows average (mean) wealth of households headed by each generation at ~age 34, skewed by wealthy outliers. Median wealth at similar ages was comparable across generations per SCF data; fewer young adults heading households biases recent figures upward for them.
stlouisfed.org/open-vault/202…
stlouisfed.org/on-the-economy…
youngamericans.berkeley.edu/2024/05/scf-co…
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This earnings season we are seeing volatility alive and well!
Big price gaps lead to opportunities for investors who know how to find them.
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The S&P 500 is trading below it's 5 and 10 year 12 month forward P/E average.
Earnings growth could support dips/selloffs from getting too deep.
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Discretionary consumer spending is having a moment according to BOA.
Before you say it's only rich people spending, take a look at the lower and middle income discretionary spending trends (they're holding up).
Spending on airlines and leisure has been highlighted.
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2 reasons why the stock market won't crash, even though consumers feel terrible about this economy:
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Wild to see these words in an S-1
“Sufficiently advanced AI systems could ... pose catastrophic or existential risks to humanity.”
(Anthropic S-1)
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Billionaires have done more for my life, and helped me generate more wealth (through investing in their companies) than anyone who hates billionaires.
The top 1% pays 40% of U.S. federal tax revenue. The top 10% pays over 70%.
You can tax them more, sure. However, I don’t mind at all that they exist and keep creating products and services that make my life better.
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This is in the same vein as my Tesla YL test drive experience.
A small % of the population has experienced FSD or robotaxi/cybercab. Those of us who have are EXCITED about the future and technology.
I ate so much brisket last night at the Texas game that I couldn't drive home.
Ordered a Robotaxi and I have to say that it's just a surreal experience. The future is here and it's awesome.
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I just test drove a Tesla model YL (self-driving) and I can confirm we’re all living like plebs manually driving our cars.
Wow… just wow!
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JP Morgan has released their return forecast for Bitcoin over the next 10 years.
Base case +10% annualized return (beating equities)
Bull case +16.6% annualized return
Early Bitcoin investors have reaped the rewards of a new asset, being rewarded with 62% annualized returns over the past 10 years.
If you don't own any Bitcoin, are you reconsidering your portfolio allocation to add it?
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This interview done by @ramit was fascinating.
$50,000 of net income from a business, a $9 million net worth and this couple doesn't know how they will pay for their life.
As a financial planner I wanted to ask many follow up questions. Here's my quick take and lessons to be learned:
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Stock pickers and day/swing traders :
I’m wondering how AI has changed your trading strategy and routine?
E.g. - Are you still doing manual scans for charts, or letting AI find everything for you? I want to know how it’s helping you, or what has been overrated. 👇
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This was a great debate. Facts were provided followed by respectful discourse.
We need more of this in order to try to solve problems.
Enough with the angry politics and debates where people just scream at each other and name-call.
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