Hello
I am 33 years old and make about 24000 USD in los angeles area (poverty status). Thankfully i have no debts, i was smart enough to pay off credit card). I tend to make poor choices and impulse purchases, so recently I bough about 4 thousand dollars worth of T bills, some 1 , 3 month and half year, mostly just to keep me from spending it on magic beans and lottery tickets.
i was reading elsewhere how stupid this was since the S and P can return " round 7 percent" and t bills only are at about 2.1 percent, and i got called an idiot since "inflation is around 2.4 percent"
i am genuinely confused and annoyed (at myself) since i didn't know about any of this until last 48 hours.
so how exactly can i get "7 percent" return? is that even real, won't any fees and such cut out any real "profit"
i don't like being poor, but i HATE being ignorant, so what can i read and where can i turn to to learn more about personal finance and saving for retirement.
Submitted September 24, 2018 at 01:08AM by itsokma https://ift.tt/2Nzo52k
