β² 173 βΌ What has been your best financial move in life? (lemm.ee) submitted 2 years ago by shootwhatsmyname@lemm.ee to c/asklemmy@lemmy.ml 219 comments fedilink hide all child comments
[β] UprisingVoltage@feddit.it 1 point 2 years ago (4 children) Are there any resources you'd like to recommend? permalink fedilink source parent hideshow 8 child comments replies: [β] anon6789@lemmy.world 9 points 2 years ago* (1 child) Bogleheads Guide to Investing - First Edition PDF Book Summary on Bogleheads Wiki Bogleheads Wiki This is somewhat of a speed run of the book. The Bogleheads philosophy is basically to buy everything with a 2 or 3 fund portfolio. Total Stock Fund Total Bond Fund Total International Fund The linked documents will explain those in more detail, but the concept is to buy everything so you always have bought the biggest winners, not to bet on a handful that will all lose or win, but at bigger expense to you. They'll tell you how much to buy of each and what type of account to keep it in to max tax effectiveness. It's not complicated once you read the source, and anyone should be able to understand it, it's not written to be cryptic or to sell you something. You can put your money anywhere you choose and it works the same. I've followed it for about 15 years or so and have been very happy. There's no checking on stock news or any of that BS, you just develop a plan you're comfortable with, and then stick to it. The more hands off you are, the better honestly. permalink fedilink source parent hideshow 2 child comments replies: [β] UprisingVoltage@feddit.it 2 points 2 years ago (1 child) Wow, thank you! permalink fedilink source parent hideshow 2 child comments replies: [β] anon6789@lemmy.world 2 points 2 years ago* Of course! The hardest part is usually just getting started, so there's no need to overcomplicate. For those also saying "well look at this rich person with money to invest over here," you can also read this stuff and be a step or two ahead when you do get to invest, because one of the first things it explains is prioritizing where to put money. Fill up one level before moving on to the next, but by reading ahead, you know what to do when you get there so you are prepared. Money for us non-uber rich folk works best with time, so the sooner you get in the game, the more success you should have overall. They call this "getting rich slowly" which doesn't sound exciting, but that's the point. Most people don't want to be on an emotional roller coaster with their money, they'd rather be on a lazy river ride that gets then where they want to be. permalink fedilink source parent [β] PuceDogs@lemmy.world 4 points 2 years ago The nice thing is that, physically itβs the easiest thing in the world. The only complicated part is not trying to game it or convince yourself that you need more than the 2 or 3 fund portfolio. Just buy a Total market index fund, some sort of bond fund and maybe some total market international stock fund permalink fedilink source parent [β] SmoothIsFast@lemmy.world 4 points 2 years ago (1 child) Bogleheads is great. There's also a book called "common sense on mutual funds" permalink fedilink source parent hideshow 2 child comments replies: [β] UprisingVoltage@feddit.it 1 point 2 years ago Thanks permalink fedilink source parent [β] Sir_Kevin@lemmy.dbzer0.com 3 points 2 years ago (2 children) This is primarily a sailing channel but Clark has a series of finance videos that are excellent. https://www.youtube.com/watch?v=9XK5ocXPhTg permalink fedilink source parent hideshow 4 child comments replies: [β] UprisingVoltage@feddit.it 2 points 2 years ago Thank you permalink fedilink source parent [β] PipedLinkBot@feddit.rocks [B] 1 point 2 years ago Here is an alternative Piped link(s): https://www.piped.video/watch?v=9XK5ocXPhTg Piped is a privacy-respecting open-source alternative frontend to YouTube. I'm open-source; check me out at GitHub. permalink fedilink source parent
[β] anon6789@lemmy.world 9 points 2 years ago* (1 child) Bogleheads Guide to Investing - First Edition PDF Book Summary on Bogleheads Wiki Bogleheads Wiki This is somewhat of a speed run of the book. The Bogleheads philosophy is basically to buy everything with a 2 or 3 fund portfolio. Total Stock Fund Total Bond Fund Total International Fund The linked documents will explain those in more detail, but the concept is to buy everything so you always have bought the biggest winners, not to bet on a handful that will all lose or win, but at bigger expense to you. They'll tell you how much to buy of each and what type of account to keep it in to max tax effectiveness. It's not complicated once you read the source, and anyone should be able to understand it, it's not written to be cryptic or to sell you something. You can put your money anywhere you choose and it works the same. I've followed it for about 15 years or so and have been very happy. There's no checking on stock news or any of that BS, you just develop a plan you're comfortable with, and then stick to it. The more hands off you are, the better honestly. permalink fedilink source parent hideshow 2 child comments replies: [β] UprisingVoltage@feddit.it 2 points 2 years ago (1 child) Wow, thank you! permalink fedilink source parent hideshow 2 child comments replies: [β] anon6789@lemmy.world 2 points 2 years ago* Of course! The hardest part is usually just getting started, so there's no need to overcomplicate. For those also saying "well look at this rich person with money to invest over here," you can also read this stuff and be a step or two ahead when you do get to invest, because one of the first things it explains is prioritizing where to put money. Fill up one level before moving on to the next, but by reading ahead, you know what to do when you get there so you are prepared. Money for us non-uber rich folk works best with time, so the sooner you get in the game, the more success you should have overall. They call this "getting rich slowly" which doesn't sound exciting, but that's the point. Most people don't want to be on an emotional roller coaster with their money, they'd rather be on a lazy river ride that gets then where they want to be. permalink fedilink source parent
[β] UprisingVoltage@feddit.it 2 points 2 years ago (1 child) Wow, thank you! permalink fedilink source parent hideshow 2 child comments replies: [β] anon6789@lemmy.world 2 points 2 years ago* Of course! The hardest part is usually just getting started, so there's no need to overcomplicate. For those also saying "well look at this rich person with money to invest over here," you can also read this stuff and be a step or two ahead when you do get to invest, because one of the first things it explains is prioritizing where to put money. Fill up one level before moving on to the next, but by reading ahead, you know what to do when you get there so you are prepared. Money for us non-uber rich folk works best with time, so the sooner you get in the game, the more success you should have overall. They call this "getting rich slowly" which doesn't sound exciting, but that's the point. Most people don't want to be on an emotional roller coaster with their money, they'd rather be on a lazy river ride that gets then where they want to be. permalink fedilink source parent
[β] anon6789@lemmy.world 2 points 2 years ago* Of course! The hardest part is usually just getting started, so there's no need to overcomplicate. For those also saying "well look at this rich person with money to invest over here," you can also read this stuff and be a step or two ahead when you do get to invest, because one of the first things it explains is prioritizing where to put money. Fill up one level before moving on to the next, but by reading ahead, you know what to do when you get there so you are prepared. Money for us non-uber rich folk works best with time, so the sooner you get in the game, the more success you should have overall. They call this "getting rich slowly" which doesn't sound exciting, but that's the point. Most people don't want to be on an emotional roller coaster with their money, they'd rather be on a lazy river ride that gets then where they want to be. permalink fedilink source parent
[β] PuceDogs@lemmy.world 4 points 2 years ago The nice thing is that, physically itβs the easiest thing in the world. The only complicated part is not trying to game it or convince yourself that you need more than the 2 or 3 fund portfolio. Just buy a Total market index fund, some sort of bond fund and maybe some total market international stock fund permalink fedilink source parent
[β] SmoothIsFast@lemmy.world 4 points 2 years ago (1 child) Bogleheads is great. There's also a book called "common sense on mutual funds" permalink fedilink source parent hideshow 2 child comments replies: [β] UprisingVoltage@feddit.it 1 point 2 years ago Thanks permalink fedilink source parent
[β] Sir_Kevin@lemmy.dbzer0.com 3 points 2 years ago (2 children) This is primarily a sailing channel but Clark has a series of finance videos that are excellent. https://www.youtube.com/watch?v=9XK5ocXPhTg permalink fedilink source parent hideshow 4 child comments replies: [β] UprisingVoltage@feddit.it 2 points 2 years ago Thank you permalink fedilink source parent [β] PipedLinkBot@feddit.rocks [B] 1 point 2 years ago Here is an alternative Piped link(s): https://www.piped.video/watch?v=9XK5ocXPhTg Piped is a privacy-respecting open-source alternative frontend to YouTube. I'm open-source; check me out at GitHub. permalink fedilink source parent
[β] PipedLinkBot@feddit.rocks [B] 1 point 2 years ago Here is an alternative Piped link(s): https://www.piped.video/watch?v=9XK5ocXPhTg Piped is a privacy-respecting open-source alternative frontend to YouTube. I'm open-source; check me out at GitHub. permalink fedilink source parent