typ3 wrote:People who act like it isn't important from a financial stand point probably have little understanding of compound interest.
What the hell does compound interest have to do with...anyone in their 20s in relation to where they end up? Why would anyone that age have any long-term savings in interest-bearing products? Please enlighten me.
I made more than 50k on TSLA and FB alone in the last 12 months with little starting capital and I've already rolled my profits into an equity position in a private company with strong growth and placed a down payment on a house that was undervalued considerably and the housing market / growth in the area has exploded (located in the Midwest) / and it had an unfinished basement that I'm finishing for the equity.
Like I said, compound interest / constantly rolling and using your capital. Compared to my classmates, they are in the hole with 0 return I went to school for undergrad and law for free at medium ranked publics and treat it as a complete 3 year flame because of its focus on the arcane and inane. I am working outside of law in a relatively semi-skilled blue collar industry because it is 1. recession proof 2. solid pay because 3. Americans have forgotten how to use tools so there is a premium on what is charged.
This is the same reason why law students are unemployed but the people who failed out of their high school end up owning a house and being in the green because they realized that what you learn in school is 90% bullshit and no one will pay for it so they became a plumber cleaning up other people's shit. Read the clique theory on JD Underground it has a good explanation of this.