this post was submitted on 24 Sep 2023
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Showerthoughts
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A "Showerthought" is a simple term used to describe the thoughts that pop into your head while you're doing everyday things like taking a shower, driving, or just daydreaming. The best ones are thoughts that many people can relate to and they find something funny or interesting in regular stuff.
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If you are young, they would trade a lot for the years you have left to live. Also, time value of money and all that. It's hard to fathom how powerful compounding is. Start investing small, start investing early.
Folks aren't even able to get out of debt. Considering debt generally has a higher interest rate than savings, folks are even held back from saving. OP even mentioned that straight out. If you're a disaster away from destitution, you aren't investing money. Money years from now isn't worth more than money today when your bills are due today.
Totally, debt stifles saving. All rich people are alike; each poor person is poor in their own way, or something.