I’m glad that the woman has something saved at least! We know too many people with zero savings or retirement accounts. A good friend of mine, or at least was, had no retirement funds but would keep a good amount of cash in his house instead. I tried to get him into crypto and he mocked me saying it was dumb even though he’s pretty decent at tech stuff. I wonder if I should text him and ask him how his financial life is going after me telling him to get into bitcoin was something he ignored lol.
There’s definitely more people that are into the “spend it” mindset and I think it’s terrible. Good for the people who convince the fools to piss their finances away but bad for the poor saps who don’t realize they need to get their shit together before it’s too late.
We just had some family that passed away without a penny to their name. Quite sad, and it wasn’t hidden money or anything. They had nothing saved.
Common for tech people - they look at the technology of it and say "there is already better (centralized) solutions". But they don't understand the finance side. Finance people say, there is already better financial tools, but don't understand the technical side.
Distribute wealth evenly and a few years later, the same people who are rich now, will be rich again.
It must be a hard life to live always scrounging, forever.