1. The only way you can get really wealthy is by owning some sort of business. If you earn your company 20k more this year than last year you would be lucky to get even 5k of that. When you work for yourself that is an extra 80k plus to an acquirer, if not more.
2. Alpha is overrated vs beta. It should've been obvious after seeing baby boomers become rich by simply owning homes, but I only really got it during the last 3 years of low interest rates after a more senior trader explained this idea to me (who was around during the 2000s). It really is as simple as riding the trend till it doesn't work, and once stuff starts changing you can afford to sit it out because of hard you outperform.
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[ 4.2 ms ] story [ 35.2 ms ] threadUse index funds.
Ignore the ups and downs and make sure you add a set amount monthly.
Pay yourself first by making your monthly investment before any other bills.
Do it now and for the rest of your life.
Don't sell until you retire.
You should probably prioritize rent, groceries, credit card debt, and other bills over buying index funds!
"What Does Paying Yourself First Mean?" https://www.investopedia.com/terms/p/payyourselffirst.asp
Spend less, save more. The rest will come.
2. Alpha is overrated vs beta. It should've been obvious after seeing baby boomers become rich by simply owning homes, but I only really got it during the last 3 years of low interest rates after a more senior trader explained this idea to me (who was around during the 2000s). It really is as simple as riding the trend till it doesn't work, and once stuff starts changing you can afford to sit it out because of hard you outperform.
3.Optimize taxes(i.e pay less).