Because earning 10% in passive index funds over 20-30 years will not make you rich.
Subtract taxes and inflation, and you’re at low single digit returns.
The average tech person “gambling” with stock picking will have the same quality of life as the passive index fund investor.
However the gambler has higher chance at generational wealth. The index fund investor does not.
And a symmetrically higher chance of ruin, and in the process the "averaged out" gain might actually be worse than the index investor after taxes, fees, and inflation are factored in.
Most average investors would be happy with guaranteed single digit returns, however boring.
Because earning 10% in passive index funds over 20-30 years will not make you rich.
Subtract taxes and inflation, and you’re at low single digit returns.
The average tech person “gambling” with stock picking will have the same quality of life as the passive index fund investor.
However the gambler has higher chance at generational wealth. The index fund investor does not.