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Help me dunk on my friend
(lemmy.dbzer0.com)
Don’t be too harsh he’s a cool dude, but he unfortunately has some capitalism good musk good sentiments that I’ve been trying to dismantle for some time now and i thought I’d ask for help with this.
Or you can just dunk.
That's ridiculous. If somebody inherits money at a young age or youngish age - they can stick it in an index fund. It's a safe investment and if they reinvest a majority of the proceeds - due to compounded interest it will grow a surprising amount over time.
And - of course - the larger the inheritance the greater the chance their parents will help them via their influence, networking etc.
Half a million dollars in an index fund will net you the median annual income for life.
If you family had a house or two you can make more money doing literally nothing than you would working.