I really think that people who haven’t been poor should not give money or frugality advice to poor people. The problem with poor people isn’t money management or knowledge, it’s the insufficiency of money. This goes for anyone who wants to help people on food stamps navigate this situation. People on food stamps are already experts in navigating food and money with a shortage of both.
It’s also impossible to do all of that without sounding like an out of touch classist. You don’t have secret knowledge about food or money, you just have more of it.
@skinnylatte yeah a thing we've learned in our life is that people without money know WAY more about how to manage it in practical terms than people with lots of money do
@ireneista @skinnylatte Does it follow that it would be more profitable for me to delegate the control of my stonks to a poor person instead of managing them myself?
@passwordsarehard4 @L29Ah @skinnylatte we agree with this response; we'll also say that, uh, stock picking is for day traders. if it's not your job it is a losing proposition and you should not be doing it.
@passwordsarehard4 @L29Ah @skinnylatte it's just difficult to reply directly to the original question because the premise is wrong - we struggle to construct a hypothetical in which stock picking is ever a good choice for an individual's personal assets
@ireneista @passwordsarehard4 @skinnylatte I am not a day trader, and i don't think hand-picking a portfolio is only good as an extremely short-term investment strategy. Also i used the term "stonks" to mean all sorts of assets that someday might be valuable for someone else, not specifically traded public company stocks.
What do you mean "it is not your job"? I am responsible for my investment decisions, so in a way, yes, allocating my resources is my job.
@passwordsarehard4 @ireneista @skinnylatte No, and it is irrelevant to my question.
@L29Ah @ireneista @skinnylatte do you think the value of a person can be quantified by the net worth at death? You being profitable while others starve to death isn’t the correct measure.