Savings is the basis for all wealth creation, but, again, it makes little sense to save as inflation continues to go up. Nothing eats savings, or wealth, quite like inflation.

Exactly.

Yes, there's some real luxury items, steak, purfume, etc, but many are buying durable goods like extra clothing, appliances, food prep/storage, electronics, etc. Getting it now, while they can, before they cannot. The smarter ones are sticking to quality goods, that'll last a long time.

I'm holding my breath for Nov. That'll tell me if i wasted the last 40 years building up a nest egg, or not.

Buy assets. Some gold, silver, or Bitcoin is better tomorrow than a steak today. The ability to delay gratification leads to better outcomes.

Doom spending

Anyone 'investing' in a college education for their kids right now is getting straight out ripped off.

Nihilism, dooming, and black pilled are fully entrenched in our society right now and are proliferating. It's at the point where people realize their dreams aren't coming true, the system is massively rigged against them, and that things their parents were able to obtain (house, cars, vacations, etc) are all out of reach for them. So people are throwing up their hands, giving up and saying what the fuck is the point even.

I'm not exactly in the same boat, but I stopped saving during Covid. Why bother with 5% returns when inflation is 7% and spent money has the benefit of not being taxed? Saving $750 accomplishes nothing compared to spending the money on food storage which can feed me for a year.

SKI parents.