• EatATaco@lemm.ee
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    5 måneder siden

    “Just sat down with my broker yesterday and am having him move $10,000 of my Roth IRA, that we had sitting idle for kind of like an extra ‘emergency fund’, into $DJT stocks!”

    Three dumb things right here: having that much cash sitting idle in a Roth, paying a broker to purchase stock that you can do on your own for basically free, and putting that much money into such a terrible stock. This person is all kinds of moronic.

    • jelloeater@lemmy.world
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      5 måneder siden

      I just lost like 50 braincells reading that sentence.

      …a fool and their money are soon parted.

    • tal@lemmy.today
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      5 måneder siden

      Three dumb things right here: having that much cash sitting idle in a Roth, paying a broker to purchase stock that you can do on your own for basically free, and putting that much money into such a terrible stock. This person is all kinds of moronic.

      I’ve had some comments earlier about how school curriculum in the US – at least when I went through it – didn’t have any personal finance component.

      I think that there might be a good argument for doing so.

      I’m not saying that it has to cover every financial thing that a person might do, but setting them up from the beginning to have some kind of plan for what’s sensible to do over the course of their life might be a good idea. It’s something that everyone needs to deal with.

      The extent of what my K-12 education did from a personal finance standpoint was teach us to write a check and balance a checkbook.

      It’s hard to cover everything for a lifetime – policies and the environment and such do change – but I do feel like it’d be possible to produce a considerably-better situation than the current one.

      • Treczoks@lemmy.world
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        5 måneder siden

        Even if American schools would cover personal finance, it would be useless for people who buy stock for irrational reasons. Nobody professional buys Truth Social stock to make money. They buy it either because they think Trump will somehow make them money (which shows how stupid they are), or just because they “love” Trump.