Quoted from pinnyheadhead:
I know this is Pinside and the internet and folks come to vent, preach and not learn, but this “the game or rigged story” is not my world.
Let me clarify my "game is rigged" terminology. Bank Interest rates yield nothing, CD's yield nothing, and bonds yield next to nothing. The only way you can make money is to invest in real estate or the market. If you look at mortgage rates, the people that would benefit the most from them can't get them, as they do not have the assets to qualify for them. On the other hand, if you have X amount of money or a certain credit score, you can get benefits (rates, terms,access to loans, etc) that others can not get.
In the stock market, retail investors do not have the same access to investments and opportunities that qualified investors have, who do not have the same access as big financial traders, who do not have the same access as hedge fund managers. Different rules, different benefits, different economies of scale. Plus, you put in fees, commissions, etc, you might not make as much as you think.
With all that being said, these are still the best games around. You have to do what I have done, what your parents have done, and what others have done, and get in the game. Start investing, even if it is small, and build up from there. If not, you are not building any equity in yourself and your family, and you will never be able to go up the ladder. As part of this, you have to build up your financial literacy, because if not, you are setting yourself up for ruin. As you build your portfolio and start doing smarter money things, you see that more opportunities are available to you. You are not getting as good as a shake as others with more money, but you are doing better than you were.
The dirty truth that people don't want to say is that the smarter you get about money, and the more money you make/grow, the more opportunities are presented to you, and the better your financial life gets. This is why the rich get richer, because the table and advantages are slanted in this direction.
Going back to my prior comment, you can either say this sucks and do nothing, or understand it, and lean into this fact and play the game. I understand the game is rigged, but I chose to play because it is better than the alternative.