The Wednesday Wellness threads are meant to encourage users to ask for and provide advice and motivation to improve their lives. It isn't intended as a 'containment thread' and any content which could go here could instead be posted in its own thread. You could post:
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Requests for advice and / or encouragement. On basically any topic and for any scale of problem.
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Updates to let us know how you are doing. This provides valuable feedback on past advice / encouragement and will hopefully make people feel a little more motivated to follow through. If you want to be reminded to post your update, see the post titled 'update reminders', below.
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Advice. This can be in response to a request for advice or just something that you think could be generally useful for many people here.
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Encouragement. Probably best directed at specific users, but if you feel like just encouraging people in general I don't think anyone is going to object. I don't think I really need to say this, but just to be clear; encouragement should have a generally positive tone and not shame people (if people feel that shame might be an effective tool for motivating people, please discuss this so we can form a group consensus on how to use it rather than just trying it).
Jump in the discussion.
No email address required.
Notes -
In 2019 the us median numbers were around:
In 2023 the us median numbers were around:
Since 1/1/20 the S&P 500 has increased by at least 67%. If someone owned a house before March 2022 they were able to lock in a 30-year mortgage rate around 3% (vs. around 7% today). People with wealth had huge gains in the last 4 years and those gains will continue to generate more passive wealth in the future.
A new grad isn’t going to be able to save/invest much. Meanwhile, the people with extraordinary returns in the last 4 years are generating tons of passive wealth because they locked in a low mortgage expense and have more money to invest/save. They are also earning passive income faster now because they have a larger asset base.
When inflation is normal for long periods of time and mortgage rates are similar between new/existing homeowners this wealth disparity effect is much less of a problem.
For a new grad starting around $0 (or in debt) to build substantial wealth they need to be on a path to earn much more than the median salary and/or make sacrifices to greatly lower expenses (like living with their parents for a few years after college).
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