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Getbig Main Boards => Gossip & Opinions => Topic started by: loco on December 10, 2023, 03:18:14 PM
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by JL Collins Updated: November 13, 2023
1. Investing, done well, is the soul of simplicity.
2. Anyone who tells you differently is selling you something.
3. Investing is playing the long game: Think decades.
4. Once you understand a few key things, the less you think about it the better your results.
5. Once you implement those few key things, the less you do the better your results.
6. As Jack Bogle famously said, “Don’t just do something, stand there.”
7. Automate your investments so the money invests without you having to think about it.
8. Ignore the market’s fluctuations.
9. There is never an ideal time to invest. Pundits will always say it is either too high and about to crash or it is already dropping and will continue to fall.
10. The market doesn’t need perfect conditions to go up. It goes up even with bad stuff happening all around.
11. Nobody knows what the market will do in the short term. As investors, we don’t care.
12. You can’t invest without risk.
13. Enduring the market’s volatility is the risk price you must pay for the market’s returns.
14. You cannot time the market and trying to do so is a fool’s game.
15. You cannot out perform the market over time. Trying will only cost you time, effort and money.
16. Low-cost, broad based index funds are the answer.
17. VTSAX is my personal choice. This is Vanguard’s Total Stock Market Index Fund.
18. VTI, the ETF version, is fine. It is the same portfolio.
19. A S&P 500 index fund or ETF is fine too. Vanguard’s are VFIAX and VOO.
20. Total Stock Market or S&P 500 index funds from other brokerage firms are fine too.
21. As an investor in The United States, I don’t feel the need to own international stocks. If you do, buy a world fund/ETF like VTWAX or VT.
22. The United States is the only country with a stock market large enough that you can own just that country’s market. If you live anywhere else, buy a world fund.
23. Most everything you hear about ‘investing’ in the media is really about speculation. Those of us on The Path are investors, not speculators.
24. You must stay the course when the market drops. If you are not absolutely sure you can do this, find another path.
25. If you panic and sell during drops, my advice will leave you bleeding by the side of the road.
26. When the storms come, tie your self to the mast. The siren songs of panic will be loud, strong and tempting.
27. Market corrections, bears and crashes are all a perfectly normal part of the process; and the market always recovers.
28. Resolve what you will do now, not when panic is all around you.
29. Building wealth takes time.
30. People who get rich quickly are ‘rarer than baptized rattlesnakes.’* Those few who do almost never manage to hang on to that wealth.
31. You are not alone. Many others have walked The Path before you.
32. It is easier to invest as an optimist. If you believe the world, or the country, is on the verge of collapse, it will be very hard to stay the course. This is not the path for you.
https://jlcollinsnh.com/2023/10/08/32-things-to-know-about-following-the-simple-path-to-wealth/
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TLDR
That boat sailed for me.
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Very solid. Very Bogelesque.
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All good advices.
Start young so the power of compounding can work for you.
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live on credit, borrow , borrow , borrow
Every dollar you have in the bank is a debt and is losing value all the time
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I can vouch that that is the best advice you are going to get anywhere. 100%. Start putting money into the S&P 500 and just keep doing it. Like the man said - decades.
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Buy property
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Once you have some property re-mortgage it, buy property and rent it
I know a guy who started with one house, now has over 40 properties all rental income paying more than the mortgages
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TLDR
That boat sailed for me.
haha same, the dream is dead
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Marry well.
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Buy property
Once you have some property re-mortgage it, buy property and rent it
I know a guy who started with one house, now has over 40 properties all rental income paying more than the mortgages
Yes, if you have the capital and the knowledge not to mess it up, real estate investing can be a quicker path to wealth. However, real estate investing is most definitely not simple and not passive. Real estate investing is a business, and owning a successful business is a quicker path to wealth, but again it's far riskier and it's definitely neither simple nor passive.
The advice in the original post above is a very simple and passive path to wealth, difficult to mess up. It takes time, but it can be done by a plumber, carpenter, electrician, dental hygienist, nurse, paralegal, etc. Just save and invest a portion of your earnings and become wealthy over the course of a few decades.
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Marry well.
And marry once. :)
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And marry once. :)
Marry well.
Don't marry at all and you'll be even richer ;D
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Gib would replace all that with hodl bitcoin