Quote:
Originally Posted by mfw13
Why is that hard to believe, given that the stock market has risen pretty much nonstop for the past 16+ years? The S&P is roughly 4x it's 2007 pre-crash levels, and 9x (i.e. up 900%) from it's March 2009 lows.
Bitcoin is well over 100K, which is more than 10x what it was worth even five years ago.
Gold & Silver are at/near all time highs.
If you've had any $$$ to invest over the past twenty years, you SHOULD be pretty wealthy by now.
And people like me who have been investing since the mid-90's....well let's just say that tech stocks have made me pretty damn comfortable.
$1000 invested in Apple in 1995 is worth about $183,000 now.
$1000 invested in Microsoft in 1995 is worth about $122,000 now.
You get the picture.....if you've been able to invest in the stock market even a little bit over the past 20-30 years, you should be pretty rich by now.
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The next 20 years are going to be interesting. "The Great Transfer of Wealth" that the media has been touting is a very real thing and it will be interesting to see how it affects the markets and collecting over the next couple of decades. There are tons of people in their 30's, 40's, and 50's who will become instant millionaires even if they themselves haven't built up much to this point. I could see sports cards going berzerk. People don't generally treat inherited money with the same caution as their own. This is why I don't particularly fear a long-term recession or stock market crash. If you think the crypto/stock/flipper crowd is wild now, just wait til their parents pass even more money onto them.