| See threads on "The Rate of Return on Everything, 1870–2015." Control-F "land." We often make the mistake of equating money with wealth. Money is simply the currency needed to exchange for goods, services, or assets (which can include securities, commodities, real estate, amongst others), while wealth is control of something of both current and potentially future value to people who will pay for it (see assets previously enumerated, although the list is in no way exhaustive). For example: Would you rather I give you $100? Or a share of SPY? If you intend to spend, probably the fiat. If you intend to hold for future wealth, more likely the security. And if you intend to be financially secure, you are very likely of the mindset of accumulating assets that will appreciate in value at favorable prices. https://academic.oup.com/qje/article/134/3/1225/5435538?logi... | https://doi.org/10.1093/qje/qjz012 https://news.ycombinator.com/item?id=40650326 - June 2024 (148 comments) https://news.ycombinator.com/item?id=19817584 - May 2019 (260 comments) https://news.ycombinator.com/item?id=16078059 - January 2018 (151 comments) (additional threads exist, but without comment, therefore not cited) |