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A generation of young people locked out of homeownership has found another way to build wealth: putting money into the stock market.“I feel like my money is safer in the stock market than in a house.” https://t.co/duuesd7uCK ...

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Core Insights - The new year presents an opportunity for financial change, emphasizing the importance of simple systems over willpower for long-term financial progress [1] Group 1: Financial Habits - Tracking every dollar for one month provides clarity on spending patterns, replacing assumptions with data, which is essential for financial control and confidence [2] - Automating savings transforms the saving process into a non-negotiable system, allowing for painless saving and compounding over time [3] - Building an emergency fund with a small target, such as $500 or $1,000, creates financial stability and reduces reliance on high-interest debt [4] Group 2: Cost Management - Reviewing and canceling unused subscriptions can quickly improve cash flow, as small recurring charges can accumulate into significant waste [5] - True wealth is defined by conscious financial choices, emphasizing the importance of eliminating unnecessary expenses to regain control over finances [6] Group 3: Behavioral Change - Now is an ideal time to adopt new financial habits, as small changes can lead to substantial long-term benefits [7]

Core Insights - The article discusses how baby boomers were able to build wealth through favorable housing and retirement conditions that are no longer available to younger generations [1][3][4] - It highlights the systemic changes that have occurred, including the shift from pensions to 401(k)s, which has placed the retirement burden on individuals [3] - The article emphasizes the role of government policies in creating barriers to homeownership for younger generations [4] Housing and Retirement - Baby boomers benefitted from pensions, which have largely been replaced by 401(k)s, shifting retirement responsibilities to employees [3] - Favorable government policies historically encouraged homeownership, allowing middle-class families to purchase homes on a single income [4] - Boomers have actively blocked the construction of new homes, reducing supply and increasing housing costs for future generations [4] Steps for Younger Generations - Young people are encouraged to vote for policies that support housing construction to address the supply shortage [6][7] - Engaging in the political process is crucial, as millennials and Gen Zers represent over 40% of the U.S. population and are expected to dominate future elections [6] - Younger generations should maximize their retirement contributions, as companies may offer support despite the lack of traditional pensions [8]

Investment Strategies - The article emphasizes the importance of finding steady wealth-building vehicles and the right brokerage platform for long-term investments [1] - Employer-sponsored 401(k) plans are highlighted as a good starting point for retirement savings, with a recommendation to have at least 10 times one's annual income saved for retirement [2] - The 4% rule for retirement withdrawals suggests that a $700,000 retirement fund would yield $28,000 annually, not including Social Security benefits [2] Investment Insights - Achieving the first $100,000 in investments is noted as the hardest step, with advice to focus on consistency rather than aggressive strategies [3] - The article references Charlie Munger's investment wisdom, which encourages retail investors to follow a long-term approach [3][4] Alternative Investment Opportunities - The article discusses the potential of private markets, particularly venture capital, which has traditionally been inaccessible to retail investors [9] - Fundrise has disrupted this by offering a venture capital product that allows investments starting at just $10, focusing on valuable private tech companies [10] - The U.S. home equity market, valued at $34.9 trillion, is presented as a reliable wealth-building avenue, with Homeshares providing access to owner-occupied homes through a fund [20][22] Real Estate Investments - Multifamily real estate investing is highlighted as a protective strategy due to multiple rental income sources, with Lightstone DIRECT offering direct access to institutional-quality multifamily opportunities [14][19] - The article mentions that investing in shares of vacation homes or rental properties is now possible with platforms like Arrived, allowing investments starting at $100 [24][25] Art as an Investment - Fine art is presented as an asset class with low correlation to the market, with Masterworks allowing retail investors to own fractional shares of iconic artworks [28][29] - The article notes that Masterworks has sold 25 artworks, yielding net annualized returns of 14.6%, 17.6%, and 17.8% for assets held longer than a year [30]

Quick Read Financing a $30,000 car at 7% over five years adds $4,500 in interest costs. The top 10% of households control 67% of wealth while the bottom half holds 2.5%. Credit card rates of 18% to 25% make carrying balances particularly destructive to wealth building. Investors rethink 'hands off' investing and decide to start making real money Financial expert, radio personality and author Dave Ramsey has built an empire on bold, uncompromising advice. In recent commentary, he distilled decades ...