Thread regarding Fidelity Investments layoffs

Still with the “youngsters can’t stop buying everything and have no self control” bullsh-t rhetoric? Just retire already.

Listen up, meatheads—if you’re complaining about not being able to buy a house, take a hard look at how you’re spending your money. Uber Eats every night? Grocery delivery because you’re too lazy to shop? Constantly “treating yourself” like you’re a Kardashian? That’s where your down payment is going.

Cut the excuses, cook your own meals, do your own shopping, and start saving instead of blowing money on convenience. Stop whining about other people who have houses—they worked for it. Time to do the same.

And to that example below, I should have added that for the house purchase there was a sizable down payment, so their gains are even less compared to the stock market investment.

Here’s a real example. A family member bought a condo in a very desirable Boston -area city in 1997 for $250k. They sold it last year for $900K (less than Zillow thought it was worth). After paying the real estate commission and capital gains taxes, they netted, what, 700-something?

In the early 2000s I started contributing to a 401k. I now have $1.3M. So I started saving 5 years after they bought that home (in a neighborhood that reliably goes up up up), and I already have close to twice as much money as they netted from the sale.

OP, you work at a financial services company and you don’t know that the stock market does better than real estate over time? People should be maxing out their 401k, building an emergency fund, paying off debt, and only buying a home if it truly makes more sense than renting.

@jk+1jpbke7bm Sounds like your house rich and cash poor. With little savings you spoke of, looks like the reverse mortgage will become your friend someday.

I'm the one who wrote this original post.

That's what you get for trying to help out. Ungrateful comments.

My house is now worth MORE than a million dollars. That's the point. I was smart where I put the money, and I did a two-fer. Pay myself and not rent and in the best returning product that made sense.

Folks, you have to be smarter and not harder with your efforts and direction. Live it up, but put your pennies where it will do best and retire rich. Like me.

I'm gen x and have two houses. Want one?

Lol spoken like a true boomer. Millenials and gen z can’t afford to buy homes because the cost of living is so high that nobody can save anything up for a house. Gen z will be extremely lucky if they can manage to buy a home.

How is this smarter? It takes both to be successful, which you are not.

Work smarter - Not Harder.

I have not always been careful with my money and didn't invest much. I just bought nice cars, clothes, traveled, and never kicked a meal at home. Just ate out all the time. But, I didn't have any savings.

This is terrible advice.

What's this have to do with the company? Go post this on your Facebook wall.