A Boring Dystopia

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Why aren't we all getting rich from compound interest? (youtu.be)

submitted 20 hours ago by lobut@lemmy.ca to c/aboringdystopia@lemmy.world

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Just let your wealth compound over time and you'll be a millionaire, the advice goes. If this is true why aren't more people rich?UNDERSTAND, SHARE & PUSH BACK

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[–] jonne@infosec.pub 2 points 4 hours ago

He's talking about his grandparents ending up at 0 or below as well. Whatever we manage to save before retirement isn't adequate to pay for elder care (unless you're lucky enough to drop dead randomly), and most of us can't build generational wealth to pass on. Basically the wealthy will end up buying whatever assets you have accrued over your lifetime.