I lack any skill at this (ie I tried and it didn’t go well), so instead I bought real estate. That’s more my speed – buy once & hold onto it forever. All you need to do is a little handyman work & find nice tenants (I can’t do that either, but fortunately, my wife is good at it)
Of course, you need to live someplace where there are jobs to attract tenants, but I was already doing that.
Actually, the main thing that a lot of poor Millennials and Gen-Z are blowing their paycheck on is supporting their parents and grandparents.
In Black American culture, it is the responsibility of the children to support their elders, not the other way around, so it is hard for them to accumulate wealth when they are young (to spend when they are old). And systemic racism (like Red lining and HOA agreements) make accumulating wealth even harder.
Where does the money for your retirement come from? If you are one of those rare few with a pension, then good for you, but the rest of us schmucks have to manage our 401K.
Just for fun, I googled ‘hot stocks from 2021’, to see which stocks were being recommended (And how they are doing now). Every single one under performed the S&P 500.
;) No, but they matched it much more closely.