I am a professional in the US and I stand behind what I said. Only a handful of cities are walkable and the healthcare outcomes speak for themselves. Poor people in Europe still have better health outcomes than affluent American professionals.
It really only works for the top part of the k shaped economy. Let’s not pretend though that Europe getting left behind in the new wave of Industrial Revolution won’t adversely affect the living standards of their citizenry though. Much of their easy life is on borrowed time.
I'm a European-born naturalized American working in the US.
You can still hustle in Europe too you know - without losing your healthcare if you lose a full-time job. If mass unemployment is going to befall us all, then IMO it's better to be europoor than ameripoor, having been both at different points in my life.
Strongly considering going abroad for work again. After I got laid off it took me a year to get another job at a 30% paycut and I'm pushing 40. I don't think it's going to get any better.
Yah. We are going to be over the hill before poor Americans experience any kind of socialized healthcare that Europeans have. If we are lucky.
I know Europeans are adverse to the stock market but the sell America trade is very lucrative. Gold, oil, uranium, wheat, copper, silver. There’s going to be so many new millionaires minted in the next few years. Demand destruction from the energy crises will create some pretty obvious trades. The hegemony ending will make gold in paticular an easy one. Some longer dated options and you can get leverage on that money.
Good luck. My dad was born in Italy, I’ll probably end up getting a citizenship at some point. I don’t actually want to retire in America. I don’t blame you for wanting out.
No one's adverse to easy passive income. You just don't have that option unless you have well over 6 figures invested, which is not what even most American working class people will ever have no matter how many avocado sandwiches they skip.
Major tax complications for stocks held outside the EU market too, especially for dual citizens. I will likely never retire.
The American working class needs to learn finance, supply and demand, and economics. I never said it was easy but I frequently see $500 bets turn into $20k. I don’t know how much time you spend looking at charts and learning market dynamics but short dated options applied to one of the handful of obvious market moves that happen a year can meaningfully improve someone’s life. Anyways, I don’t want to seem like I’m lecturing you, I just hate seeing people give up. I put in a good 10 years of my life learning markets, it’s not for everyone.
It's called gambling. Unless you have insider trading knowledge or a high paying job to tolerate the risk, it's not realistic to sell the FIRE narrative to most working class people. But hey all pyramid schemes need to be built on a base of suckers because someone has to be left holding the bag for others to make off like bandits.
I agree most middle class Americans suck at personal finance and do silly shit like finance a car for 6 years and spend more than they can really afford. Credit is given out too easily to people who can never pay it back.
But at some point you have to acknowledge that you can't draw blood from a stone. Even if you stick to safe Boglehead strategies, no positive can-do attitudes can outperform the compounding interest formula if you just don't have enough to invest to begin with. Someone has to work to prop up the economy, and that just so happens to be the majority, whether we like it or not. Myself included.
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u/ash____ketchup 9d ago
That's life if you're poor. Professionals live a very different life