Wealth and a question at the end

[Mags]

... and have colas ....

I wish the SS COLAs were regional instead of calculated average national wide. Here electric rates jumped 24% since Jan 2024 and other services about 22%. A 2.5% COLA for this year is better than zero, but still no where near to making up to par with the local rate changes. Seems like it might be a good idea to start lobbying the local P.U.C to convince them to limit rate increases to the COLA or less.

[GFK]

... Just a day or so ago, businesses pleged to invest $500,000,000,000 in America for the support of AI development. To me, people don't invest that type of money and expect not to receive a big gain. But, that is just my viewpoint.
...

AI overall could be a good investment, the conundrum is in the specifics of which company(ies) to invest in. As with older technologies there are likely to be no name companies that come from behind to draw hot investment initially only after a while to fall flat on their face. The converse can also be true, a little company making it big and continuing on to do so. There is no clairvoyance in knowing who will fail and who won't. I don't have the means to gamble in that space.

Everyone needs toilet paper, soap, tooth paste, food etc. The companies that produce those goods need energy to make them and freight haulers to get the products to market. Much safer space for me along with very decent returns.

There is no one way to invest. Each has their own ideas and tolerances for what works for them.

I agree that one size may not fit all, which I thought that I implied that. Nonetheless, people like to communicate, just use Facebook as an example. Zuckerberg became a billionaire by charging users nothing to use the service. Really! To me, that shows that people like to communicate and some people will pay to have access to that communicates. Just like morse code, communicates has evolved over the years and is not going anywhere. It may take different forms, but it will still exist. AI will probably be a part of it. We have versions of it now. Lots of people like using Alexis or Google, and they are just at an infant stage. So, there is lots of room for growth. At least, that is how I see it.

[Mags]

... people like to communicate, just use Facebook as an example. Zuckerberg became a billion by charging users nothing to use the service. ..

Ya Zuckerberg was smart. He made a lot of money. I once had some FB stock, but I got into it at the wrong time. It tanked and took about 2 years to recover. When it did I got out. I once had Intel stock and watching it I got out at the right time. And likewise with Verizon.

[GFK]

I haven't tried buying stocks yet. I think that is a hard thing to predict. I have been sticking with mutual funds. Overall, I think the losses of some companies are balanced out by the gains of others.

[Sir Henry]

Lots of good replies here. I wanted to respond to each one but there ended up to be far more than I was expecting. For the most part I think we all saved and invested wisely. I like others invested in mutual funds instead of individual stocks. Most of my mutual funds were tied to the Russell 2000 which is small capital stocks. Once those stocks hit the big boards the killing had already been made although there were exceptions.

In addition to Fidelity Magellan and American Century Select I also had Fidelity 2010, 2015 and 2020. These were 40 year funds that I got into early. They were high risk and potential high return in the early years then become more stable in their mature years. At maturity they were no longer available and are replaced with later dates for younger workers. If you bought one now it would be 2065.

I retired in 2003 at the age of 54 because I had cancer. I didn’t know how long I’d live but seem to have beat it. I lived modestly and drove old beaters till 2016 when Donna passed away. Now I don’t have any trouble spending although my cars are a 2017 and 2020. I’m buying things that won’t loose value like propane tanks and buildings.

I’m rich in the fact I can buy anything I want as long as I don’t want expensive things like a yacht or an airplane. Tractors are a different story. I bought several and want more.

I will burn through my life’s savings evenly in the next 25 years and will be broke the year I turn 100. I will always have my VA Disability, PERS2 and Social Security so if I live to be 105 I should still be okay.

[GFK]

Glad that your health has improved! It is great to have a steady, livable income. So, it seems that you have more of a play fund? Well, enjoy while you can. None of us know, which day will be our last. Me, I try and make the most of each moment that I can, without being foolish. Therefore, I strive to live life to the fullest. Once it is all over, I hope to have been used up or well used: meaning, no regretes.

[Hatchdog]

... and have colas ....

I wish the SS COLAs were regional instead of calculated average national wide. Here electric rates jumped 24% since Jan 2024 and other services about 22%. A 2.5% COLA for this year is better than zero, but still no where near to making up to par with the local rate changes. Seems like it might be a good idea to start lobbying the local P.U.C to convince them to limit rate increases to the COLA or less.

Our SS colas haven’t even kept up with the increases in our insurance. But in fairness we have lots of stuff insured so our cost is higher than average.

[Cowboy Gun Fan]

Same here. The Colas really do not keep up with actual expenses out there and mine goes out the door for insurance increases too. I really feel for anyone out there who didn't have the opportunity to build up their SS and just living on it with no other income and especially if they are renting to boot. The raise is supposed to last all month for inflation, etc. I can spend my raise like nothing in one afternoon and on nothing extravagant either.

[Sir Henry]

Glad that your health has improved! It is great to have a steady, livable income. So, it seems that you have more of a play fund? Well, enjoy while you can. None of us know, which day will be our last. Me, I try and make the most of each moment that I can, without being foolish. Therefore, I strive to live life to the fullest. Once it is all over, I hope to have been used up or well used: meaning, no regretes.

Yes I give myself a very good allowance after a working life of going without. I fed my savings first, house second and then lived on pennies. The household is separate and I never spend house money on myself. Now I have all the savings and more important don’t have to save for retirement.

[Steve51]

I started investing in domestic mutual funds when I was 24 and the company I worked for offered a 401K plan. My investment ratio has always been 60% stocks and 40% bonds. When I retired at 56, I rolled my lump sum retirement into my 401K plan. I am now 73, been married 53 years and we have lived a pretty conservative lifestyle in a rural area. We are not rich financially, but we have no debts and seem very content where we are. Our joy and wealth are kids and grandkids - God has truly blessed us!