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Saved by @jay_millerjay

As a young immigrant, I took out thousands of dollars in debt to go to for-profit college—thinking it was part of the American Dream.

Like millions of Americans, I was left deeply in debt with a worthless degree and shoddy education. #CancelStudentDebt

 I was fortunate enough to eventually go to a public university and begin to pay it off, but millions do not have that luxury.

Here are some misconceptions about who has debt and why we need full cancellation.
Is this really a crisis?

Yes! Student debt has more than doubled in just 10 years. 45 million Americans now are saddled with over $1.7 trillion in debt—and the delinquency rates have nearly doubled. https://t.co/kTgVCrCaTT
Isn’t it already cancelled during the pandemic?

Student loan interest is on hold during the pandemic—but the debt is not forgiven. That means millions will owe thousands of dollars in backpay if that debt isn’t relieved. https://t.co/1WUyjLdc8P
Does President Biden have the authority to end the crisis?

Yes! The federal government owns 92% of the $1.7 trillion in student debt. Biden can forgive it with the stroke of a pen.
Is student debt a rich kid problem?

No! 40% of people with student loan debt don’t even have a college degree. These have been some of the hardest-hit families during the pandemic and are *3 times* more likely to default. https://t.co/wJROZZM6Wa
Does student debt relief only help elite college students?

No. The average public university student borrows *$30,030* to get a bachelor’s degree. Only 17% of for-profit college attendees graduate without debt. https://t.co/3ZIFMTU4dZ
Will student debt relief only help white families?

The opposite. Black graduates average $25,000 more in student loan debt than white college graduates. In fact, the majority of black borrowers owe more in debt than their entire net worth. https://t.co/gjYNilIqbi
Is this generational warfare?

No. Parents are increasingly saddled with debt too. The amount of debt taken out by parents has tripled in the past 25 years. https://t.co/PMhHRoaflZ
What if I had to pay off my debt?

Before Social Security, seniors were destitute. Before SNAP, food insecurity was rampant. In other words, past harms should not be an excuse for inaction.

We want a world where future generations are not held back because of crushing debt.
What about future students? What about early education?

Student debt relief is one component of a moral society. We also need to make college tuition-free so debt is not accumulated moving forward and invest in universal early education. These are not at odds!

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A thread.
( uses concepts I have discussed many times before in separate threads)

Problem : I have a good system, I understand charts and/or price action, but I simply can't make money. I hold my losses too long or ( this is most common) I get out of profitable positions too fast and cannot sit for the whole move

At many firms at NASDAQ, day-traders are seen as elite sportspersons playing in a difficult taxing game. That's why, they have regular sessions with sports psychologists. They are advised to follow the basic routine of sportspersons.
Train ---- Play tournaments --- Rest

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We retail day-traders here neither rest nor train.

Rest = taking time off markets
Train = trading in markets in training mode

Understanding REST is easy, simply take time off markets and spend time with family or do something you love
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Shaan Puri
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If you're a college student who wants to pay off all your loans... here's an idea for you:

It takes ~$5k to start and will make ~$30k a year of profit

It won't get you rich, it'll pay for college.

(..and will teach them more about business than they’ll learn in school)

The idea isn’t sexy. But it works:

**Plastic Moving Bin Rentals**

Everyone knows moving sucks. The worst part is being stuck with 400 cardboard boxes at the end of your move.

Instead - @benmlevy told me about Gorilla Bins. They dropoff plastic moving bins, & pickem up later.


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To do that, I think we’ll need $50k in revenue.

The avg move (a 2 bedroom apartment) is $180

To hit our goal, we need do ~5.5 moves per week

COSTS?

How many bins do we need to buy up front?

5.5 moves a week x 50 bins = you need 275 bins. Let’s round up to 300 to be safe.

Ok let’s hop over to @uline to see how much these bins cost

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Mega Thread on Personal Finance 101

👇👇👇

Rule of 72 (Double Your Money)
Rule of 114 (Triple)
Rule of 144 (Quadruple)
Rule of 70 (Inflation)
4% Withdrawal Rule
100 - Minus Age Rule
10, 5, 3 Rule
50-30-20 Rule
3X Emergency Rule
40℅ EMI Rule
Life Insurance Rule

♻ Rule of 72

No. of yrs required to double your money at a given rate, U just divide 72 by interest rate
Eg, if U want to know how long it will take to double your money at 8% interest, divide 72 by 8 and get 9 yrs

At 6% rate, it will take 12 yrs
At 9% rate, it will take 8 yrs

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No. of years required to triple your money at a given rate, U just divide 114 by interest rate.

For example, if you want to know how long it will take to triple your money at 12% interest, divide 114 by 12 and get 9.5 years

At 6% interest rate, it will take 19yrs

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For eg, if U want to know how long it will take to quadruple your money at 12% interest, divide 144 by 12 and get 12 yrs

At a 6% interest rate, it will take 24yrs

🗒️ Rule of 70

Divide 70 by the current inflation rate to know how fast the value of your investment will get reduced to half its present value.

The inflation rate of 7% will reduce the value of your money to half in 10 years.
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A fund does well. You fall in love with the fund house. You have a large mid and small cap scheme from them. They all tank together! Diversify. And remember being good at one thing doesn’t make you good at the other.

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Applying the same metrics to judge different asset classes. What matters to equity funds doesn’t matter to debt funds. Arb funds are fully hedged - the individual stocks don’t matter, they do in equities. Understand what matters for each asset class.

3. Perils of passive

Assuming all passive funds are good because they are cheap. There are terrible passive funds out there too. They track bad indices. Or they track good ones but have a lot of tracking error. Passive requires its own set of research.

4. Apples and kiwis 🍎 🥝

We have categories in MF but sadly all funds in a category are not comparable. Just because a website compares them doesn’t mean you should look beneath. BAF categories have funds that are static, dynamic bond funds have rolldowns. Just an example.
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My website doesn't have any product reviews, but people scatter them everywhere else in forums, tweets, xtube vids, etc.

If you ARE a previous customer, and you like the thing, can you drop a review on my site to help others?

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The current cost sustains production and development of new tech, and is helping create jobs. We are 2 people now!!

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