> point out the index fund billionaire. We all want to meet that person who's winning so hard, by doing nothing.
Are you joking? Look at the Forbes 400 richest. Look at the Fed's Survey of Consumer Finances.
The person with power in San Francisco is not the 24 year old MIT Grad FAANG SWE who can barely afford his mortgage, but the LP for the VC who has founders coming to try to get that series A. Or the activist investors making Apple give a dividend.
Billionaire heirs are "winning so hard" all over the place in index funds. S&P 500 2008-2018 return is 167% on low inflation. Even factoring in inflation it's over 100% - billions more than doubled in a decade. 2008 was an off year, but even factoring around that is still a huge win.
Doing nothing for a decade, and more than doubling a few billion after inflation? Yes that is winning so hard.
The biggest beneficiaries are the heirs who expropriate labor time from those who work, not those working and creating wealth.
As others have mentioned already, 2008-2018 was a historic bull run and not at all representative. Anyone buying in 2008 or even sometime later was effectively making a very risky bet that the then-current recession would be over quickly and that growth would pick up again. The conventional wisdom at the time was rather different, as I'm sure you're quite aware of.
Yes, but it's the same time period of Dell's growth so it's most relevant. His investment return would also be far more surprising over most other 10 year periods. As it is... he just matched the broad market so risk (and effort) adjusted it's actually not good at all.
You can invest in the market, too. If you're low income, you won't even have to pay any capital gains tax on it. I.e. after taxes you'll get significantly better returns than billionaires.
Are you joking? Look at the Forbes 400 richest. Look at the Fed's Survey of Consumer Finances.
The person with power in San Francisco is not the 24 year old MIT Grad FAANG SWE who can barely afford his mortgage, but the LP for the VC who has founders coming to try to get that series A. Or the activist investors making Apple give a dividend.
Billionaire heirs are "winning so hard" all over the place in index funds. S&P 500 2008-2018 return is 167% on low inflation. Even factoring in inflation it's over 100% - billions more than doubled in a decade. 2008 was an off year, but even factoring around that is still a huge win.
Doing nothing for a decade, and more than doubling a few billion after inflation? Yes that is winning so hard.
The biggest beneficiaries are the heirs who expropriate labor time from those who work, not those working and creating wealth.