Once you have dealt with signaling, one other huge problem remains. I have met just one person IRL who actually invests (my brother). Everyone else isn’t aware safe investment options exist and they just put everything in the bank account.
Also, in my experience, middle-aged and older people tend to downplay their wealth and not brag about it (why? Not entirely sure). Younger people instead seem more braggy… but most young people aren’t very wealthy. This is just my experience though. I wonder if it is actually common.
Also, in my experience, middle-aged and older people tend to downplay their wealth and not brag about it (why? Not entirely sure).
I think a lot of people have made the observation that old people care less about status than young people. I’m not sure why that might be, but I could come up with some possible evolutionary explanations. My general hypothesis would probably be something like, young people have much more to lose by being low status. They want to get a promising career and have the best romantic partner. For old people, the stakes are lower.
Once you have dealt with signaling, one other huge problem remains. I have met just one person IRL who actually invests (my brother). Everyone else isn’t aware safe investment options exist and they just put everything in the bank account.
Also, in my experience, middle-aged and older people tend to downplay their wealth and not brag about it (why? Not entirely sure). Younger people instead seem more braggy… but most young people aren’t very wealthy. This is just my experience though. I wonder if it is actually common.
I think a lot of people have made the observation that old people care less about status than young people. I’m not sure why that might be, but I could come up with some possible evolutionary explanations. My general hypothesis would probably be something like, young people have much more to lose by being low status. They want to get a promising career and have the best romantic partner. For old people, the stakes are lower.