/biz/ - Business & Finance

>Pension

What is this? The 70s?

>>15044982
My parents were visiting last week and my dad was complaining about his 'money guy' and how he steals 1% of their retirement fund every year in fees, and rarely beats the market. I was like what the fuck are you talking about, isn't all your retirement money in a low-fee market index like VTSAX. He said no, what the fuck is an index fund. Then I have to spend 15 minutes educating my boomer dad what an index fund is. He gets really confused and keeps asking "but how do you make money, who's deciding when to make the trades?". I think in his mind if you're not beating the market then you're literally not making any money.

I schooled his ass and he's supposed to be meeting his "money man" next week to start the processing of moving his shit into VTSAX or FSZRX (he hasn't decided yet). He paid for a nice dinner to say thanks and thinks I'm a money genius now. Meanwhile my whole net worth is in LINK and I didn't sell above $3 (got in at $0.40 but still).

Boomers are totally hopeless, it's a wonder how they've navigated this far in life without all getting scammed literally to death.

>>15044982
Only pensions that are worth a shit are the government ones and railroad retirement.

>>15045445
This. The whole system is unironically bankrupting my state (NJ) but my father collects 70% of his final pay from being a cop for 29 years. I think he plays around with the stock market, but with a guaranteed income forever I don't think he did much else.

>>15045356
>Boomers are totally hopeless

>Be boomer
>Put money in pension funds
>Pension funds are forced to buy government bonds that give 1% interest
>Inflation is 2%
>Rest of money spent in investments across all industires
>70% of those investments need interest rates to be near 0 to exist or those companies would crash
> it's a wonder how they've navigated this far in life without all getting scammed literally to death.

It's not a wonder , the countries have been taking debt since they became of voting age(1970s).
They navigated so far in life by passing the bill to you anon.

>>15044982
LINK nodes will be the pension funds of the futures, every city will wish to have their own LINK node

>>15044982
Weak minded people love to be told what to do

>>15044982
Even though they're shit, honestly most normies couldn't be trusted to manage their own money for retirement

>>15045356
>tfw you bought at 3.13 and you want to buy cheapies but minimum wage job and selling at a loss on the hope it goes lower eventually feels like an L

I really want more than 3.8k LINK