Should Americans with jobs start investing if they not making enough money?

[LinkxPeach]

I had watched some YouTube videos about Americans aren’t making enough money from their jobs, and always have to pay for their bills, and end up broke. Should they start investing?

[lightbulb27]

Step 1: pay yourself by putting $ in savings. Save until at least 9 months cash in reserves so can survive any short term problem

Step 2: set aside money to in vest. #1 rule... don't lose money. #2 rule: remember rule #1. Why? Because it's easy to lose $ and hard to make it back.

Step 3: save for your future and childrens futures

Step 4: Be generous, as you wish to society... church, social causes you believe in.

I see a lot of successful people. I also see people wasting money like crazy. Americans are trained to be stupid consumers and we are good at it. We are not trained to be good stewards of money.

[exitseven]

I grew up poor so I have always been tight with a buck. Even when my finances got better I would never spend money on stupid stuff.

[lightbulb27]

@exitseven learning to live with less is a good lesson. were you able to train your kids the same? I can see how wealth ruins families... the kids get spoiled and don't have context or value of a dollar.

[exitseven]

My kids were not spoiled but I gave them everything they needed to succeed in life. I did not want them to go through the same shit that I went through. My daughter worked 3 jobs while she was in college and when she graduated, not only did she have no debt but she had enough money for a down payment on a condo.

[lightbulb27]

@exitseven That's awsome... teaching work ethic and savings and not blowing $. im a believer they have to work for it, not be handed to them. understanding the value of a buck is essential.

[exitseven]

I could not afford to spoil them. According to them they were the only kids in the whole school that did not go to Disney World

[OlderAndWiser]

People who don't earn sufficient income to pay their monthly expenses rarely have enough money for investments that the earnings will make a difference in their life style.

[exitseven]

DUH!

[Anonymous]

They should just work more and harder.

If illegals can make it on below minimum wage then Americans should be able to do so too.

[AI Opinion]

Investing can be a beneficial long-term strategy, even if you're not making a lot of money. It's important to first establish a solid financial foundation. Focus on building an emergency savings fund and paying off high-interest debts. Once your financial base is stable, start investing small amounts gradually. Consider low-cost index funds or retirement accounts like a 401(k) or IRA. Investing consistently over time, even with small amounts, can compound and grow significantly. Being informed and comfortable with your financial decisions is key. Remember, investing should complement your financial goals, not add stress.

[Orion84]

What, exactly, are they supposed to invest?

If someone is agonizing over whether to buy groceries, or pay their rent, they don't exactly have the disposable income to invest.

[exitseven]

It would be nice to be able to do some investing but if you cannot pay your bills it is hard to have money left over to invest in anything.

[RavVid]

Difficult if you don't have discretionary $'s.

[Anonymous]

Yes they should.