How the hell are we supposed to retire?

JimN said:
My wife's car is dying and needs to be replaced. Not really much option other than to buy a car at inflated prices. She went to Subaru of Morristown today with her parents and wants a WRX. They wouldn't let her test drive it though, which seems kind of ridiculous to me.
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When I test drove the STi they handed me the keys and said, "have fun!"IMG_20160802_190925.jpg
 
Mahnken said:
When I test drove the STi they handed me the keys and said, "have fun!"View attachment 162586
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Before buying a GTI a while back I was pretty set on getting a WRX. I went to Subaru of Morristown and asked if I could test drive one. They said no because they didn't have one that was prepped and maybe stated that they didn't have gas in any of them or something along those lines. No offer of "let's set something up another day" etc. So I bought a GTI. This was like 2007 and I'm sure they had people coming just looking to thrash one for 20 minutes with no intention of buying, but still.
 
cassinonorth said:
Acting like buying any individual stock isn't gambling is hilarious to me.
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Speculating. ;)

esp in the highly volatile world of overly leveraged stocks.

as an aside: with big risk comes big wins. the downside of stocks has a hard floor at 100% loss, but the upside is not capped.
Options - not so much.
 
cassinonorth said:
Acting like buying any individual stock isn't gambling is hilarious to me.
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Don't be ridiculous - there are widely different risks associated with individual stocks. Great companies with a long-term successful, sustainable business are very low risk. Buying a shit company that peaked due to "meme investors" is pure gambling.
 
rick81721 said:
Don't be ridiculous - there are widely different risks associated with individual stocks. Great companies with a long-term successful, sustainable business are very low risk. Buying a shit company that peaked due to "meme investors" is pure gambling.
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Ah yes, the arrogance of thinking you know better than people who do this every single day of their lives. Sure bud, you're the smartest guy in the room always. But don't take it from me.
Buffett said it can be tough to pick the long-term winners. He pointed out that in 1903 there were more than 2,000 car companies, and nearly all of them failed even though cars have transformed the country since then.

“There’s a lot more to picking stocks than figuring out what will be an incredible industry in the future,” Buffett said. “I just want to tell you that it’s not as easy as it sounds.”
Buffett has said that most people will fare better by owning an S&P 500 index fund instead of betting on individual stocks. He said many of the novice investors who jumped into the market recently and drove up the value of video game retailer GameStop are essentially gambling.
Buffett said the stock trading platforms that allow people to buy and sell stocks for free, such as Robinhood, are only encouraging that gambling.
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cassinonorth said:
Ah yes, the arrogance of thinking you know better than people who do this every single day of their lives. Sure bud, you're the smartest guy in the room always. But don't take it from me.
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PS why are you ASSuming that I think individual stocks are better than funds? All of our IRAs are in funds, I just have some play money in individual stocks. The point was, out of individual stocks, there is a huge difference between gambling on a few month gain on AMC based on nothing vs buying Microsoft for the long-term.
 
cassinonorth said:
He said many of the novice investors who jumped into the market recently and drove up the value of video game retailer GameStop are essentially gambling.
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This was exactly Rick's point, except he went with AMC instead of GME. I wonder if Warren Buffet would consider buying AAPL to be gambling?
 
rick81721 said:
PS why are you ASSuming that I think individual stocks are better than funds? All of our IRAs are in funds, I just have some play money in individual stocks. The point was, out of individual stocks, there is a huge difference between gambling on a few month gain on AMC based on nothing vs buying Microsoft for the long-term.
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Dismissing AMC and GME buyers out of one side of your mouth and buying up Delta is flat out hypocritical. Yeah, they're slightly less risky but risky nonetheless. I know you mostly have index funds...your holier than thou attitude in that comment rubbed me the wrong way.

JimN said:
This was exactly Rick's point, except he went with AMC instead of GME. I wonder if Warren Buffet would consider buying AAPL to be gambling?
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It's more gambling than dumping it into VTSAX and sitting on it for 10 years than trying to day trade any stock, yeah. That's just fact. I have no problem with people gambling with it, but saying one risky stock (AMC) is better than another risky stock (Delta) is bullshit at the highest level.
 
cassinonorth said:
It's more gambling than dumping it into VTSAX and sitting on it for 10 years than trying to day trade any stock, yeah. That's just fact. I have no problem with people gambling with it, but saying one risky stock (AMC) is better than another risky stock (Delta) is bullshit at the highest level.
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Your previous comment made it sound like buying any individual stock is gambling, and that buying AMC isn't gambling any more than any other individual stock. While all investment carries risk, I just don't agree with that. Buying something super risky that you know is super risky is gambling. Buying shares in a reputable company that makes money and has consistently grown over the years is investing, though there is obviously still some risk no matter what company it is.
 
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