Andrew Lokenauth
Tip for people in their 20s:
A 24-year-old only needs to invest $100/ week to have a $1 Million portfolio by age 55 (in an S&P 500 index fund).
If you wait until 30 to start, you will make $400,000 less.
If you wait until age 40, you make $800,000 less.
Time is your biggest asset. Use it to your advantage.
Blurry Moon
bloomtime!
@FluentInFinance tip for people in your 20s:
The modern financial market is inextricably tied up in mortgages based on housing that will lose value as the climate changes. The more the climate changes, the less trustworthy the financial markets are.
We're in for decades of 2008-2010 markets as the suburbs and exurbs become uninsurable while they also suffer more frequent disasters.
Don't depend on the conditions and climate of the past or take the suggestions that create the problem.
Learn something useful for our changing climate, you'll always be able to get paid.
feld
bloomtime!
@sun @feld @FluentInFinance climate change has already begun. We're well into the 'how bad will it be' set of choices now.
Blurry Moon
Blurry Moon
feld
feld
Blurry Moon
feld
bloomtime!
@sun @feld @FluentInFinance help people! Esp. young people. Help someone become a nurse, a construction worker, a childcare worker, an electrician, a solar installer, a home health aid, a disaster remediation expert. Help neighbors & help stop displacement - we need to see the changes to make good choices.
Invest in ADUs & local grocers & bike shops & anything that contributes to sustainable neighborhoods - local jobs, local people, local connections. Repair shops & quality second hand stores. We need more buses & shuttles particularly from cities to places like campgrounds and parks and such during appropriate seasons and holidays(also in other local contexts but you'd have to do the research). Intimate connections with nature like hunting, fishing, CSAs, CSFs, farmstands, and farmers markets. Co-op and worker owned businesses. Community land trusts.
bloomtime!
@feld @FluentInFinance @sun I don't think there will be a return to normal
feld
Blurry Moon
bloomtime!
@feld @FluentInFinance @sun right but the CapEx projects have the same problems as housing - climate disasters. If we can get to zero emissions relatively quickly that might be doable, but that seems to be dependent on such significant economic changes that it would make this conversation irrelevant.
feld
feld
feld
bloomtime!
@feld @FluentInFinance @sun oh I fully agree. I just am not sure that getting passive returns from financial markets is going to be possible in the harder world of climate change we seem to be headed toward. If most people have to struggle even more for the basics, where's the return going to come from? It seems like it would require increased authoritarian enforcement that's (hopefully/probably) not scalable.
Like the world doesn't have to be zero sum, but investing in oil & gas & industrial ag lowers the total output of basic human need filling goods from the system. If we have to put more money/energy into needs filling, the available human resources for providing rents/passive returns is lowered. So they're kind of self-defeating
feld
feld
bloomtime!
@feld @FluentInFinance @sun right and my point is that the more rapidly climate change advances the less we'll be able to determine what will be safe enough to give reliable returns for large long-term projects.
bloomtime!
@feld @FluentInFinance @sun I disagree - as we're seeing previous climactically stable areas increasingly impacted by new threats a place safe from flooding might be in more danger from tornadoes and wildfires etc. Svalbard Seed Bank was thought to be the safest place for a thousand years and just a few decades later we see it in jeopardy. The data centers value depends on much of the same infrastructure as the long distance wired electrical grid. Etc.
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