Hacker News Reader

Full thread

SSJPython

Very few get rich trading options.

Most are no better and no worse off.

Some people get completely wiped out.

There is nothing wrong with buying low-cost index funds and holding them long-term. That's how you build wealth.

View on HN

> There is nothing wrong with buying low-cost index funds and holding them long-term. That's how you build wealth.

Given how prevalent this advice is these days, the indexes are arguably over-priced.

Agreed. But elder millennials will probably be the "boomers" of the index fund trend and will be selling them for retirement before the bubble pops.

so what's the alternative? invest in mutual funds that don't beat the market and take a hefty % of your compounding returns due to management fees? crypto? getting a house like the prior generations?

Well we let the previous generations murder any possible way of building yourself a better future for like 4 decades, what did we expect? Turns out optimizing for grandma's continued wealth increase is harmful to basically everyone else.

You want something to protect you in the future? Vote.

That doesn't necessarily mean people follow this advice. It requires patience and discipline to do this.

A lot of people, like Michael Burry (1), think that we are headed for an index fund crash and they are way oversold.

1. https://www.youtube.com/watch?v=XLGTSzm9iko

Reply on news.ycombinator.com