There are a few potential cases:dryrunguy wrote: ↑Wed Jun 30, 2021 4:43 am
Suliso posted something earlier that piqued my attention, and I've read the same thing about some folks in the U.S. So I'll ask:
Who the hell are these people who have accumulated significant financial savings during COVID? I'm not talking about the uber-rich. I'm talking about ordinary folks. I keep hearing about all these people who are anxious to spend their surplus savings accumulated during COVID on vacations, etc.... Who ARE these people? I can't name a single person I know who would fall into this category. I am a 2%er, and I'm not even close to falling into this category. So, if not me, then who?
- People who saved on commuting/gas, expenses (going out, social activities, gym memberships, etc.) by working from home. I would say that applies to me; on average, my spending went down. I put the savings towards debt, so no pondering of what to do with the money.
- People who had more time while working from home or were furloughed/laid off and started actively investing/day trading (while surely a miniscule portion, I actually know quite a few of such people) and got lucky/were good at it.
- In related, people who invested a bit of money when the market crashed last spring and then watched it grow.
- Self-employed people whose operating costs were reduced in an online environment (i.e. tutors, psychologists, consultants, etc.)