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Yes, of course you should tax gain harvest. Never let the 0% tax brackets go to waste if you have a use for them! Move $7,000 to a Roth IRA and tax gain harvest whatever else you can in your taxable account. If you make $20k this year, then you should be able to tax gain harvest a total of $44,100 at 0% ($15,750 standard deduction + $48,350 0% capital gains bucket - $20.000 income). >...and maybe buy it back lower or buy discount good stocks like meta. I'm not a fan of picking individual stocks. Check your local library for The Simple Path to Wealth by JL Collins to get some good investment advice. Then read The Psychology of Money by Morgan Housel when you're done with that.
Comes from JL Collins The simple path to wealth.
Read The Simple Path to Wealth by JL Collin’s. He simply explains everything from A to Z for a simple approach
**Time in the market, beats timing the market** Without knowing your living expenses, put most of the money you're willing to invest into a fund like VOO/VTI. Consider a smaller percentage of that into something like VGT or SCHG. Put the rest of your savings into a HYSA. Sticking with ETFs is smart. Avoid single stocks if you're not up for the risk. Look up JL Collins, his philosophy on building wealth is incredibly simple. https://www.youtube.com/shorts/NMvOzJcWtW8 At 18 your upside is having the gift of time.
Here's the majority of the education you need. Read these books- 1. The Simple Path to Wealth by JL Collins. 2. The Psychology of Money by Morgan Housel 3. The Algebra of Wealth by Scott Galloway Then automate your investments, buy indexed funds and if you still feel the need to buy individual stocks just make sure it's with money you don't need. That way when you win it's a bonus and when you lose it doesn't hurt.
https://x.com/mikealfred/status/1982120117388611723?s=46&t=2NvUic1JL77DFaewcj0Rbg
Start w/ The Simple Path to Wealth (JL Collins) or Bogleheads’ Guide. Focus on low-fee ETFs like S&P 500 or total market funds. Set it, forget it.
Read. My three recommendations: 1. I Will Teach you To Be Rich by Ramit Sethi (buy his book, its an easy read, also his Youtube channel has videos that breakdown segments in his book already but i would say his book is more structured) 2. The Simple Plan to Wealth by JL Collins 3. The Little Book of Common Sense Investing by John Bogle (once you understand investing is a zero sum game, your investing path will make more sense and become more clear so i cant stress how important this book is.) - Read these three books and then venture out into your investing because you need to understand the world. - Until then I recommend 100% VT. Once you've finished the books only then I can recommend altering your investment portfolio. This is my best advice as a 32 year old investor after investing since starting at age 23.
Hey, good for you for wanting to get more serious about this. 28 is a great age to start building real wealth. Here's my honest take: First - Stop picking individual stocks for a while I know that's not what you want to hear, but real talk: most people (including pros) can't consistently beat the market. That "researching and going off what others say" approach is gambling, not investing. You've been lucky - but luck runs out. Start with index funds instead This is the boring answer everyone gives because it actually works: Put most of your money in broad market index funds (VTI, VOO, SPY - these track the whole S&P 500) Add some international exposure (VXUS) Maybe a small bond allocation if you want stability (BND) That's literally it Over the last 30 years, the S&P 500 averages like 10% annually. Most active traders don't beat that. Just buy the whole market and let compound interest do the work. The 90/10 rule If you REALLY want to scratch that stock-picking itch (I get it), do this: 90% boring index funds 10% individual stocks you research That way you can still have fun trading without blowing up your retirement. When that 10% goes to zero because you YOLO'd into some Reddit stock, you still have 90% growing steadily. Robinhood is fine, but consider upgrading Robinhood works, but better options: Fidelity - better research tools, actual customer service, no payment for order flow shenanigans Schwab - similar to Fidelity, great interface Vanguard - if you're serious about index investing, this is the OG All three have zero commission trades now. The main advantage is better tools and you're not the product being sold to hedge funds. Tax-advantaged accounts matter WAY more than stock picking This is huge and nobody talks about it enough: Max out your 401k match first - that's literally free money Open a Roth IRA ($7,000/year limit for 2025) - tax-free growth forever Then max traditional 401k if you can ($23,500/year for 2025) Then mess around with taxable brokerage accounts The tax savings will make you way more money than trying to pick the next Tesla. Actually learning this stuff Instead of watching FinTok gurus, check out: "A Simple Path to Wealth" by JL Collins - best beginner book, period "The Intelligent Investor" by Benjamin Graham - if you want to understand actual value investing Bogleheads forum - Reddit but for serious boring investors who actually make money r/Bogleheads here on Reddit Skip the day trading courses and options "masterclasses." They're selling you the dream while they make money off course fees. The honest truth about "knowing what you're doing" Most professional fund managers don't beat the market consistently. Even Warren Buffett recommends index funds for normal people. The secret isn't finding the next GameStop - it's: Starting early (you're doing this ✓) Investing consistently (automate monthly deposits) Keeping fees low (index funds charge like 0.03% vs 1%+ for active funds) Not panic selling when the market drops Time in the market > timing the market What I'd do if I were you today Open a Roth IRA at Fidelity or Schwab Set up automatic monthly contributions ($583/month = $7k/year max) Buy VTI or VOO with every contribution Literally do nothing else Check it once a quarter max In 30 years that'll be worth way more than trying to day trade meme stocks. But you still want to pick stocks... Alright, if you insist, at least do this: Only invest money you can afford to lose Actually read the 10-K and 10-Q filings (financial reports on SEC.gov) Understand what the company actually does and how it makes money Look at P/E ratio, revenue growth, debt levels Ask yourself "would I hold this for 10 years?" If you can't explain the business to someone in 2 minutes or wouldn't hold it for a decade, you're gambling not investing. The fact that you're asking these questions at 28 puts you ahead of like 80% of people. Just don't overcomplicate it - boring index funds will make you way richer than trying to be the next DFV.
Housing is expensive, I’ll give you that, but again, I’ve seen so many who buy beyond what their current budget would really support. College degrees are more expensive because of the emphasis that it’s necessary for success. They became big money churning entities. If you weren’t going to college, you were lead to believe life would be tough. More people go, more staff, more support, more everything that all costs more. Despite the “everyone gets a trophy” times we live in, college SHOULD be rigorous, not a simple glide to any degree. College may be less useful in some instances, but that’s on those who choose to major in some ridiculous “______ studies” with almost no career path forward. These are the types of useless programs pushed by the younger generations that schools are more than happy to cash your check for. You can also go to community college for 2 years, get your core classes done, and transfer to a 4 year college to finish and save a ton of money. Your degree will still have the name of the 4 year college on it. A good college admissions advisor will even tell you this. Yes, healthcare costs are high. But serious healthcare issues could have bankrupted anyone from any generation. In fact, there are probably more opportunities for healthcare coverage now than generations ago and certainly far better treatments. You were certainly more likely to die from some issues that are almost routine treatment now. TV subscriptions and such are small potatoes in the grand scheme of building wealth right? But just to illustrate the impact of small potatoes, consider that at only 3% monthly compounded interest, just $50 a month saved for 30 years is nearly $30k. If you have it in the market at the historical average of 7%, how about almost $83k? People are short sighted when it comes to budget and long term comfort. More gen X kids drove hand me down 15-20 year old beaters as first cars. Look around now and see how many young kids are driving newer cars. I’ve seen that with tons of my son’s friends. Your last sentence is unequivocally incorrect but not surprising as it seems you think wealth should come easily. Myself and my wife’s net worth would likely be considered to be in the top 10%. No college degrees, no lavish living. We never lived like paupers either, but always had an understanding of when we could or couldn’t spend on things. You should really watch some videos or read the books of JL Collins and others like him.
Housing is expensive, I’ll give you that, but again, I’ve seen so many who buy beyond what their current budget would really support. College degrees are more expensive because of the emphasis that it’s necessary for success. They became big money churning entities. If you weren’t going to college, you were lead to believe life would be tough. More people go, more staff, more support, more everything that all costs more. Despite the “everyone gets a trophy” times we live in, college SHOULD be rigorous, not a simple glide to any degree. College may be less useful in some instances, but that’s on those who choose to major in some ridiculous “______ studies” with almost no career path forward. These are the types of useless programs pushed by the younger generations that schools are more than happy to cash your check for. You can also go to community college for 2 years, get your core classes done, and transfer to a 4 year college to finish and save a ton of money. Your degree will still have the name of the 4 year college on it. A good college admissions advisor will even tell you this. Yes, healthcare costs are high. But serious healthcare issues could have bankrupted anyone from any generation. In fact, there are probably more opportunities for healthcare coverage now than generations ago and certainly far better treatments. You were certainly more likely to die from some issues that are almost routine treatment now. TV subscriptions and such are small potatoes in the grand scheme of building wealth right? But just to illustrate the impact of small potatoes, consider that at only 3% monthly compounded interest, just $50 a month saved for 30 years is nearly $30k. If you have it in the market at the historical average of 7%, how about almost $83k? People are short sighted when it comes to budget and long term comfort. More gen X kids drove hand me down 15-20 year old beaters as first cars. Look around now and see how many young kids are driving newer cars. I’ve seen that with tons of my son’s friends. Your last sentence is unequivocally incorrect but not surprising as it seems you think wealth should come easily. Myself and my wife’s net worth would likely be considered to be in the top 10%. No college degrees, no lavish living. We never lived like paupers either, but always had an understanding of when we could or couldn’t spend on things. You should really watch some videos or read the books of JL Collins and others like him.
If the fund tracks the sp500 you can pick whatever you want. An ETF is just more liquid as far as trading goes. Swppx has a low expense ratio and is a good choice as well. JL Collins and the simple path to wealth is a good read and he has newer podcasts he has done where even he has mentioned you can use Schwab. He was just a vanguard guy when his book came out so that's what he suggested.
Based on what you've expressed, keeping it simple with a few ETFs is most likely your best bet. Look up JL Collins, he is a firm advocate that all people need is a simple total stock market fund, like VTI, to be a successful investor. https://www.youtube.com/watch?v=1sxNvl2yyS0&t=1326s&pp=ygUkamwgY29sbGlucyB0aGUgc2ltcGxlIHBhdGggdG8gd2VhbHRo
Forward test this strategy, don't back test. Management of short DTE credit spreads is a thing that has to be experienced and practiced. Small real trades are best, paper of you have to. Losses are large when they happen, anywhere from 5-10x the average winner. You have to be able to deal with that, psychologically. Remember also stops aren't a reliable, universal risk control tactic near expiration as spreads widen and liquidity dries up. Gamma exposure changes delta/prices wildly at the end. Liquidity varies hugely by stock and even in the same stock in various volatility conditions. This kind of trade (IC, JL, strangle variants) is best suited to very liquid tickers that aren't hugely volatile, like SPX/SPY, RUT/IWM, NDX/QQQ. It can be expensive too depending on your broker, 4-8 legs per round trip.
Personal Investing? Read a couple books to consider that are solid for personal investing. The Simple Path to Wealth by JL Collin’s The Little Book of Common Sense Investing by John Bogle Both have timeless advice for living below your means, consistently investing in diversified low-cost index funds, and avoid taking on unnecessary and uncompensated risk.
I keep 2-3 years of expenses in cash (checking+VMFXX) and the rest of my portfolio is in VTSAX. Yes, it's really that simple. Read The Simple Path to Wealth by JL Collins and you can pretty much understand my investment philosophy since I stopped day trading in 2000. I really wish that book existed when I was a teenager. I had a paid off house that I built in my 20s and sold shortly after I hit my FI number because I hated home ownership. It was tough putting hundreds of thousands of dollars into VTSAX in 2019, but I'm really glad I did since the stock market crushed the returns that my house had over the past 6+ years. Time in the market.
If you are open to alternative ways of investing in a simple way, consider watching [https://youtu.be/V360AygOv7A?si=voCHpuusdlmY1eLr](https://youtu.be/V360AygOv7A?si=voCHpuusdlmY1eLr) (JL Collins talking about his book “The Simple Path To Wealth") I have been investing for about 25 years and thought that I had an edge; my net worth would have been at least 25% more if I had followed the above simple approach. The difference is a substantial amount for my portfolio, which would have allowed me to retire early by now. The above approach would allow you to focus on your profession, which funds most of the future investment cash, and spend time on things you enjoy in life.
Good for you! Just saw an interview with JL Collins and that's exactly what he was talking about. Can I ask how much you much did you start with 10 years ago and how much did you contribute yearly? Traditional IRA Or Brokerage account?
OK Cool. My point is he was a gambler, and he did admit in the end that only WB style buy and hold makes really sense on WS. Of course you have to know whta to buy and when. IF YOU ALREADY KNOW THAN BUY AND ADD. Well it is my opinion based on my crazy life. Made and lost milions not like JL at the same time for me it was very intersting expirience
Read “The Simple Path to Wealth” by JL Collins. You’ve discovered the power of compound interest, one of the most insane forces in the known universe. Keep it simple stupid, voo/qqq split will get you a long way over time!
Read "The Simple Path to Wealth" by JL Collins. I wish I had when I was your age. It not only talks about what you should be investing in but also the mindset you should have when doing so.
And JL Collins' interviews on YouTube, and his book "A simple path to wealth", he basically wrote for his daughter.
Check out the book: The Simplest Path to Wealth by JL Collins. Bogleheads stuff too.
I will recommend that you watch [https://youtu.be/V360AygOv7A?si=voCHpuusdlmY1eLr](https://youtu.be/V360AygOv7A?si=voCHpuusdlmY1eLr) (JL Collins talking about his book “The Simple Path To Wealth") If you follow the above advice, you can focus on your career or do things that you enjoy in life.
Don't try to learn everything at once, you'll burn out. I started by just trying to understand passive index fund investing. Read "The Simple Path to Wealth" by JL Collins. It's recommended constantly for a reason. It will give you a rock-solid foundation and cut through 99% of the noise. Start there.
Are you more focused on building wealth or preserving wealth? Both have vastly different goals and outcomes. If you're seriously interested in growing stable retirement savings and building a nest-egg, definitely diversify. Are you giving up potential gains by doing so? Sure. You're also giving up potential losses as well by diversifying, especially using indexing. Stock indexes compile hundreds or thousands of stocks. If a company fails and goes broke, it gets taken off the list and replaced. VTSAX and VIGAX at Vanguard are a good place to start. If you have a high risk tolerance, hold onto your stocks and diversify elsewhere in your portfolio. You also avoid capital gains taxes from the sale of your best winners. Just know that it could be a very bumpy ride. If, god forbid, MSFT or another FAANG/GAFAM company goes under, you're screwed. Are you comfortable with that level of risk for the potential upside? It boils down to this: a) sell off some % of your individual stocks, pay some tax, and insulate yourself from some level of market fluctuation, and bet on a pretty dependable 8-15% growth over the next 30 years in something like S&P500. or b) accept the risk of those big corps going under, but hold onto the great gains you've made, while still being able to diversify elsewhere I'd lean toward option b if you're young, healthy, and stable. If you're close to retirement, it may be time to sell "cats and dogs" for more stable stock and bond index funds. Good luck. PS: if any of this looks like what JL Collins would say, you're spot on. Look him up if you're not familiar.
read “The Simple Path to Wealth” by JL Collins
Google Bogleheads 3 fund or read the book Simple Path to Wealth by JL Collins. Simple approach is the best approach. If you really want to keep it simple, VTI or VTSAX. Same allocation but one is an ETF, other a mutual fund. I think people get bogged down on details but really you should just be starting the clock. Time is your best asset. Hope this helps.
It’s a Peter lynch quote. For more detail, read Nick Maggiulis “just keep buying” or Morgan Housel’s “psychology of money” or JL Collins “simple path to wealth”
Look at the Google interview on JL Collins, the author of simple path to wealth. It'll make you less confused about trading. Video is on YouTube. You welcome.
I would strongly advise you to get up to speed with r/bogleheads. It’s a proven investment strategy that is designed to be easy to learn, easy to follow, & requires almost no effort. There’s a short, well written book that’s straightforward called A Simple path to Wealth by JL Collins that lays it out. Basically after getting rid of her debt & setting up a 3 month emergency fund, the rest should be invested in something like a Vanguard total index fund & all dividends should get reinvested.
Highly recommend The Simple Path to Wealth. It's a quick read that pretty much boils down to "throw it all in VTSAX." (Or VTI, for you young people.) That's exactly what I did in my 20s up until I retired at 35 and still have now at 43. You will outperform most asset managers over the long-run holding only that one fund. If you want SparkNotes version, search for JL Collins' article titled: How I Failed My Daughter and a Simple Path to Wealth I would link it here, but this sub doesn't like links.
Please read Simple Path to wealth by JL Collins
get it mate 🤙🏻 
Check out JL Collins etc and r/bogleheads
You should read "The Simple Path to Wealth" by JL Collins. It explains the math behind why index investing works so well.
First, a word of caution: this is a life-changing amount of money. Be careful about taking advice from strangers on the internet (including this comment!). Here's a summary of the best advice you'll find here and in similar threads: 1. **Educate Yourself:** Read a couple of well-regarded, simple books on investing. "The Simple Path to Wealth" by JL Collins is a common recommendation. This will give you the confidence to make your own decisions. 2. **Consider a Fee-Only Financial Advisor:** They can provide personalized advice without a conflict of interest. Make sure they are a "fiduciary." 3. **Keep it Simple:** For many, a low-cost, diversified index fund portfolio (like a simple three-fund portfolio) is a great, proven strategy for long-term growth. Good luck!
I recently read something that made sense to me (JL Collins I think)… he said dumping money in slowly is based upon the idea you can hit the declines, but that around 2/3 of the time the market goes up any given day or month, so your money isn’t getting the upward bumps either if it’s sitting on the sideline. Therefore, lump sum in and let it ride.
Read some books to educate yourself. "A Simple Path to Wealth" by JL Collins is a great start.
Sucks about your bro, it's a very kind gift. The best thing to do would be to teach your kids some financial proficiency and learn some yourself so you don't have to ask randoms on Reddit. Start by reading "A Simple Path to Wealth" by JL Collins and have each of your kids read a copy as well. I gave a copy to each of my kids when they were teenagers. Your kids have to have earned income, like a W2 or a 1099 to be able to contribute to a Roth IRA. So that likely won't work for all of them. The best thing to do with a small portion of the funds is take a trip with your kids to celebrate your brother. Go someplace your brother would enjoy or wanted to visit. Celebrate his life, build memories, show old videos of your brother/pics, tell stories of growing up with him.
* How do you not get into the hype of short term wins? * Short term wins are fine when they are the result of sound investing decisions, I like looking at my portfolio when its a wall of green. Just don't get suckered into gambling on risky stocks. This is how most people lose money. * How do you keep reinforcing the concept of long-term thinking, especially when the market is volatile or when everyone seems to be chasing fast gains? * This just takes time. A 7% return isn't very exciting the first year, but in 10 years your money has just about doubled. Think of it like a snowball rolling downhill. Once you get momentum the growth can be huge even at a small %. * How do you separate good risk from reckless risk? * Each investor decides what degree is acceptable, what is not. At some point you shift from investing to gambling and you have to learn where that line is for you. Broad index investing while it has volatility is typically one of the lowest risk long term approaches and what most suggest for the bulk of their investing. Myself included. * What habits or routines help you stay grounded and stick to your investing plan? * I am an experienced investor so short term volatility or a few days of red don't bother me at all, if you can't handle it without panicking or selling, only check your portfolio quarterly. * Finally, Any books, podcasts, or people you’d recommend for shaping a solid investor mindset? * The Four Pillars of Investing - William Bernstein * The Simple Path To Wealth - JL Collins
Educate yourself, read some books. Start with "A Simple Path to Wealth" by JL Collins.
Destroying an iconic brand. Be nice if Jeep bought by American interest and fully built here including motor. Perhaps Cummins diesel in the JL
Don't own one stock or crypto. JL Collins said it best- own the market. Index funds or ETFs baby and just chill. Also consider switching to vanguard or fidelity or schwab. Vanguard has good customer service. their website interface is kind of wonky but works for me.
Read some personal finance books to increase your knowledge and help you come up with an action plan. 1. I Will Teach You To Be Rich by Ramit Sethi. This is a good intro personal finance book to read. Implement the steps especially automating your finances and you will be in a better financial position. 2. The Simple Path To Wealth by JL Collins. This book is more in depth but its a good followup to the first book and gives more info then the basic personal finance stuff in Sethi's book. Before you can walk you have to crawl so these books are a great foundation.
Read Simple Path to Wealth by JL Colins...I'm very glad i did 5 years ago!
Or the *Simple path to Wealth* by JL Collins (Even better, IMO)
Not a get rich quickly path, I will recommend that you watch [https://youtu.be/V360AygOv7A?si=voCHpuusdlmY1eLr](https://youtu.be/V360AygOv7A?si=voCHpuusdlmY1eLr) (JL Collins talking about his book “The Simple Path To Wealth") If you follow the above advice, you can focus on your career or do things that you enjoy. The above approach will put you in a great position in a 20-30 years timeline.
[link to post](https://www.reddit.com/r/options/s/rpr1PmE5JL)
Start with the basics, Bogleheads guide and JL Collins’ *Simple Path to Wealth* are solid. Low-cost index funds, automatic contributions, and just staying consistent go a long way. Don’t overthink it. Stick with stuff you understand.
Listen to JL Collins, The Simple Path to Wealth, he actually just took the book and made it into an eight part small podcast that’s about an hour long in total. Come back on here with any questions after. I think it will change your life.
I think it's more of a math problem. The stock market always trends up because the most a company value can go down is 100%. On the other side of the coin, the amount a company's value can increase is limitless. This imbalance propels the market up. That's why I love VTSAX for long-term holdings. This mindset came from JL Collins.
An approach to consider would be to send them a book, like "A Simple Path to Wealth" by JL Collins. If they read it, great! If they don't, that's on them. Bringing up the issue more than once, repeatedly trying to convince them verbally and doing more than sending a single book, just makes you insufferable, even though you're right.
I own some books and music CDs that I later learned were out of print and collectors items. the books I all bought used, a few bucks at most. the CDs were about $12 when new. I know people will ask, so for example the debut CD for the instrumental rock group Blind Idiot God is out of print and sells for $50 or more. https://www.amazon.com/Blind-Idiot-God/dp/B000000M1H/ref=sr_1_2?crid=36IR3FKQ0PFZ0&dib=eyJ2IjoiMSJ9.rmt-WONPmjx_D_whFYJWDzcKxFhm_oVy6W92VdYTyBoxBmUJp-X5BhExoWJmkLJZQ-sHrd46zkBF4nJB86Y6ZQ.Bel0aWlV62BL4ibcws3_Y8UP_9B1P65bYn_dSlufrig&dib_tag=se&keywords=blind+idiot+god+cd&qid=1750949365&sprefix=blind+idiot+god+cd%2Caps%2C147&sr=8-2 hardcover copies of the book *The Ultimate Evil* by Maury Terry sell for over $100. https://www.amazon.com/Ultimate-Evil-Terry-Maury/dp/0760761191/ref=sr_1_2?crid=2N698RTWAGFGW&dib=eyJ2IjoiMSJ9.ThlLaBgO4el79Ll-b_77fLMua5dBmdJyaR5R_fN_m9--VXebD5NA0T_y9aBR90Kf92IVSxDyKuKQ7KRLLd3vneBDSvfTnbkOeKSaeSbADBoMGaF8ROzccDR1qJCzGrgoLutwSls3Z19JL8bd70I-kziIQkKDGzmEVOgLWxBETV4epqwZ9M6PozV_LN9WLDuJheVAnqtehDboJ2br_WBPZaSdgVcKP6ctfGFfHKtPGz8.Roppl7QuG4hc87xzXGumhkD10h-5DI6EdUMznYCbP7Y&dib_tag=se&keywords=ultimate+evil+hardcover&qid=1750949470&sprefix=ultimate+evil+harddcover%2Caps%2C212&sr=8-2
Got it. I figured you were pretty young. Have you read The Simple Path to Wealth by JL Collins? It’s a great foundational book about financial literacy and investing. I wish to God I’d read it and comprehended it at your age.
The Psychology of money by Morgan Housel is a great introduction to money and investing and understanding principles of how money works definitely recommended. Simple path to wealth by JL Collins is also a simple guide to how to get to a comfortable retirement. Just change out the fund he recommends (he's in the US) to the french equivalent one or a globally diversified and follow everything else and you won't go far wrong!
Got it. I’m not familiar with French accounts - like do you guys have various types of tax preferred or tax advantaged accounts? That part’s important. But the core advice, regardless of where you live: buy very broad diversified index funds and do it consistently for your whole life - make it automatic out of every paycheck. In the USA, I buy VTI and VXUS at 80/20. That’s a strong home country bias for me, I’ll admit that. I have been considering shifting more to market weight. For you - I *think* the primary European options are VWRD or SWDA for a similar conceptual whole world type strategy. It’s just lower on the USA exposure. Depending how long you have until retirement you may or may not want to add a bond fund on top of that. I’m only 41 and I don’t plan to retire until 65 ~ so I will start adding bonds during my shift from accumulation to preservation mode - around age 50. I strongly recommend the JL Collins book from my last post for any beginner in any country. The examples will be from a USA perspective and the actual instruments and processes will be a little different in France but the philosophies and concepts in the book are applicable around the world and it’s just a really great place to learn the basics.
Read A Simple Path to Wealth by JL Collins. I can’t think of anything that could be a better starting point than that. It’s very strong and time tested foundational financial literacy guide. Are you in the UK?
*I Will Teach You to be Rich* \- Ramit Sethi *A Simple Path to Wealth* \- JL Collins *The Little Book of Common Sense Investing* \- John Bogle
Finally figured out why Tesler rallied today: [FSD tests were a disaster right in front of the press](https://vimeo.com/1093079343/22efd7a62d?turnstile=0.XrXJ7_TyESNZtDKlZu7RhdfFPytwgpIkVyM4nXfoBRsqoA5nd9p57yEvQ0idh-ykbGEq6vhrMC3a3Ibv2OCCD7cRUnyQLOgIE1MiDSjJ2Q9fzQuwJreCOKnVJImtsB8W0UTdhtDCwrMXSRlk0JL4tVNvzEH_8-W-asKgwZtV3gR7wDYuXF5xcVYoHk9zDHL1oO7JFPprXfKzqN_oFGS30Dalu0QO9zfNxPMcMTdDis1bFy7mjdjnltMQiBiNKfMGN0nA-0NiaIosuiOjrNaNF1I_nnYVu9Jpd_Y3Ot0KiUejk0uUyIp5ZU-ITSYCb_3Eid8T2Zr_twRSDsOTpEDfkwP1euCrsjn3zSqKPKyAOGSDx7pGTCe7EPRrjOayUAbFOk5yqBh4aqUqmJ6qB6YXhKEGY8SD8yoWwbqtpOZ01_6hd9xaC98I8U3QjQKbXj4wLcwH0dESAQBijp93AFcVxsipVs55szNoEAiUiXfa_xxhS_grPzwa70owERAVHc6sKykMJ0fcq-SUgWfwF__iQP8QIVAmMH3ZSp3PR7vFhxY2jUAl7zD8Xnb4_vtNiScCnZvz99eskUnCa2XSp9Gm2dc6TOkR-mW6_O_7w0Jg12qTfkSyueO66TiKWAP-8UlguKihyO6Jgv2MCW65AT8_LG5rZALAjnkLjBuircWqsJEN0WYSHiSXlqfzJWmj8jqgaT4SpiIkCrBJLPK6-LAu8JZYw7IJatZILNFPx_W4u_Ct8_9wtIgMbZrIpLGjTvrooJEs3P2OaUuC3dNV8jfwAaePXVBizk5VQafo63f_N6V5Jr5CzJRqvKkZXPc2-PZfZJjLXe1x2a6EuJXpKHP8atyz5rRGwrN-MuiFp5JLM0ERM30ULOW09OmHxLvwawEy.B66FmeLqjxpHZmpyv0N4Bw.67550e2e55a6f13772180f9fdcda1578f03a5f9a6247bcd8bc10acbbfd3441c8) Bullish as fuck 🤡
Park it in a HYSA for now. Purchase “The Simple Path to Wealth” by JL Collins and do what he says. 1. Pay off debts 2. Establish an emergency fund of a couple months’ expenses equivalent. 3. Max out a Roth contribution for this year, make sure it’s invested in a low-fee broadly diversified index fund. 4. Park the rest in a taxable brokerage, and do the same.
"The devil will be in the details, but the lack of reaction suggests this outcome was fully expected," said Chris Weston, head of research at Pepperstone in Melbourne. "The details matter, especially around the degree of rare earths bound for the U.S., and the subsequent freedom for U.S.-produced chips to head east, but for now as long as the headlines of talks between the two parties remain constructive, risk assets should remain supported." Signs of the curbs loosening surfaced in China, as several Shenzhen-listed rare earth magnet firms, including JL MAG Rare-Earth (300748.SZ), Innuovo Technology (000795.SZ), and Beijing Zhong Ke San Huan (000970.SZ), said they have obtained export licenses from Chinese authorities.
*The Little Book of Common Sense Investing* \- John Bogle *A Simple Path to Wealth* \- JL Collins *I Will Teach You to be Rich* \- Ramit Sethi
[The Simple Path to Wealth by JL Collins](https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926)
There was a great short interview I listened to this week with JL Collins the author of the book The Simple Path to Wealth where he makes the point that the market doesn’t care about your feelings or predictions and that smart people with good points are wrong CONSTANTLY. And that goes both ways He argues that the best thing to do is continuously invest a set amount at the same time and forget about trying to predict the market because you are going to be wrong I just think it’s an important thing to remember for all the bears and bulls who are sure they know what’s coming
You should read a book or two first on asset allocation and passive investing. JL Collins Simple Path to wealth is a good start. if the answer isn’t obvious after that dm me.
Read the book The Simple Path to Wealth by JL Collins. You’re welcome.
Sorry for your loss. I'll give you the same advice I give to everyone. Start by reading JL Collins The Simple Path To Wealth. Everything you need to know to get started is in there and you already have a head start.
1) Pretend the money doesn’t exist. Just live your life as you would and let this thing compound. 2) Start for now with a high yield savings account. 3) Learn about investing, so you’re not doing anything you don’t understand. A Simple Path to Wealth by JL Collins is a great starting point. I would also recommend listening to podcasts like the Money Guy or Rational Reminder. 4) Once you’ve learned about investing, start investing with a plan you are really comfortable with and understand. You don’t have to do everything at once. A year of the money sitting in a high yield savings account is not the end of the world.
Learn how to manage money. It's not that complicated if you take the time to absorb material and pace yourself. [https://www.reddit.com/r/personalfinance/wiki/index/](https://www.reddit.com/r/personalfinance/wiki/index/) *I Will Teach You to be Rich* \- Ramit Sethi *A Simple Path to Wealth* \- JL Collins *TheMoneyGuyShow* channel on YouTube
[https://youtu.be/CaCSuzR4DwM?si=fg0B7cuMNo\_JL3Kh](https://youtu.be/CaCSuzR4DwM?si=fg0B7cuMNo_JL3Kh)
worse long term, yes, absolutely. and the really bleak picture is that historically weakening great powers (china, right now) tend to become more militaristic to offset that. geopolitics & macro matter a huge amount right now, and that takes even more research than usual. the last 40 years in US markets were a layup compared to the present (except for helpful deficits, until they aren't anymore). It's a very complex time. [https://youtu.be/vDBZeHhx3YE?si=lS2JL96oE5qdhd6j](https://youtu.be/vDBZeHhx3YE?si=lS2JL96oE5qdhd6j) [https://youtu.be/Dfbv2eHEdbY?si=H1c-7gwTDwtvGGbT](https://youtu.be/Dfbv2eHEdbY?si=H1c-7gwTDwtvGGbT)
As JL Collins says, ["Toughen up, bucko, and cure your bad behavior."](https://jlcollinsnh.com/2012/04/15/stocks-part-1-theres-a-major-market-crash-coming-and-dr-lo-cant-save-you/)
This is an order-of-operations flowchart. It may be useful. https://www.reddit.com/r/financialindependence/s/p8Q5lErAY7 Financial blogs, books and podcasts: Library Books: Simple Path to Wealth (JL Collins, if you read only one, start here) - Your Money or Your Life (Robin); Broke Millennial (Lowry); CleverGirl Finance (Sokunbi); Millionaire Next Door (Stanley/Danko); The Index Card (Olen); I Will Teach You to be Rich (Sethi); Building Wealth And Being Happy (Falco); Get it together - organize your records so your family won't have to (Cullin, NOLO) and 8 Ways to Avoid Probate (Randolph, NOLO). Two free books: https://paulmerriman.com/millions-downloads/ New to being on your own? https://www.etf.com/docs/IfYouCan.pdf (each selection has its own voice). Blogs/sites: http://mrmoneymustache.com — http://iwillteachyoutoberich.com - http://gocurrycracker.com — you don’t need to buy anything to read the blogs. How do I get started investing? https://www.bogleheads.org/wiki/Getting_started —— https://www.reddit.com/r/financialindependence/wiki/faq/ Podcasts: Optimal Daily Finance — Stacking Benjamins — ChooseFI * — Big Picture Retirement - lots more. Start from the earliest available episodes and work chronologically to today, as many of these build on prior episodes in knowledge and evolve over time. * except for ChooseFI - they didn’t hit their stride until episode 100. Online classes for personal fi and financial literacy: https://www.khanacademy.org/college-careers-more/personal-finance and https://www.khanacademy.org/college-careers-more/financial-literacy https://www.reddit.com/r/personalfinance/wiki/commontopics/
Useful investing books: - If You Can: How Millennials Can Get Rich Slowly – an excellent free 15 page PDF by William Bernstein: [DOWNLOAD LINK](https://www.etf.com/docs/IfYouCan.pdf) - I Will Teach You To Be Rich by Ramit Sethi - **The Simple Path To Wealth** by JL Collins - **The Little Book of Common Sense Investing** by John “Jack” Bogle - **A Random Walk Down Wall Street** by Burton Malkiel - **The Millionaire Next Door** by Thomas Stanley - **The Psychology of Money** by Morgan Housel - Winning the Loser’s Game by Charles Ellis - The Bogleheads’ Guide To Investing by Mel Lindauer, Taylor Larimore, Michael LeBoeuf - The Index Card by Helaine Olen, Harold Pollack - How A Second Grader Beats Wall Street by Allan Roth - Just Keep Buying by Nick Maggiulli - The White Coat Investor: A Doctor’s Guide to Personal Finance and Investing by James Dahle - How To Make Your Money Last by Jane Bryant Quinn - Retire Before Mom and Dad by Rob Berger - The Five Years Before You Retire by Emily Guy Birken - How To Plan for the Perfect Retirement by Dana Anspach (The Great Courses) - Retirement Planning Guidebook by Wade Pfau - Retirement Planning for Dummies by Matthew Krantz - The New Retirement Savings Time Bomb by Ed Slott - The Bogleheads’ Guide To Retirement Planning by Taylor Larimore et al - Living Off Your Money by Michael McClung - The Number by Lee Eisenberg - The Wealthy Gardner by John Soforic - The Richest Man in Babylon by George Clason (Also an updated “Modern Language Edition”) - The Wealthy Barber by David Chilton - Enough by John Bogel - Your Money or Your Life by Vicki Robin, Joe Dominguez - Early Retirement Extreme by Jacob Lund Fisker - Fables of Fortune: What Rich People Have That You Don’t Want by Richard Watts - Quit Like A Millionaire by Kristy Shen, Bryce Laung - Die with Zero by Bill Perkins - Against The Gods: The Remarkable Story of Risk by Peter Bernstein - Devil Take The Hindmost: A History of Financial Speculation by Edward Chancellor - In Pursuit of the Perfect Portfolio by Andrew W Lo and Stephen R Foerster - The Four Pillars of Investing by William Bernstein (second edition 2023) - All About Asset Allocation by Rick Ferri - The Missing Billionaires by Victor Haghani and James White Useful podcasts financial: - **The Money Guy Show** (Brian Preston and Bo Hanson) Since 2006 with over 823 episodes - **Morningstar The Long View** (Christine Benz and Jeffrey Ptak) Since 2019 over 227 episodes - **Rational Reminder** (Benjamin Felix and Cameron Passmore) Since 2018 with 275 episodes - Big Picture Retirement (Devin Carroll and John Ross) Since 2017 with over 164 episodes - Choose FI (Bard Barrett and Jonathan Mendosa) Since 2016 with over 599 episodes. - The Retirement & IRA Show (Jim Saulnier and Chris Stein) Since 2013 with 100 episodes - The Retirement Answer Man (Rodger Whitney) Since 2014 with over 493 episodes - Retirement Starts Today (Benjamin Brandt) Since 2015 with over 243 episodes - Sound Investing by Paul Merriman Since 2019 with over 403 episodes - How To Money (Joel Larsgaard and Matt Altmix) Since 2018 with 676 episodes - The Stacking Benjamins Show (Joe Saul-Sehy and Josh Bannerman) Since 2013, 991 episodes - Sound Retirement Planning (Jason Parker) Since 2009 with over 150 episodes - Stay Wealthy Retirement Show (Taylor Schulte) Since 2017 with over 170 episodes - Ready for Retirement (James Conole) Since 2020 with over 164 episodes - Talking Real Money (Don McDonald and Tom Cock) Since 2014 with over 1,200 episodes - Retirement Planning Education (Andy Panko) Since 2022 with over 76 episodes - Retire with Style (Wade Pfau and Alex Murguia) Since 2022 with over 68 episodes - The White Coat Investor (James Dahle) Since 2017 with over 436 episodes - Bogleheads Live (John Luskin) Since 2022 with over 44 episodes - **Bogleheads on Investing** (Rick Ferri) Since 2018 with over 57 episodes - The Newretirement Podcast (Steve Chen and Davorin Robison) Since 2018 with 71 episodes - Risk Parity Radio (Frank Vasquez) Since 2020 with over 300 episodes - **Your Money, Your Wealth** (Joe Anderson, Al Clopine) Since 2009, over 450 episodes - Mad Fientist (Brandon) Since 2012, over 73 episodes - The Long Game by Thomas Kopelman Since 2020 over 102 episodes - The Dough Roller Money Podcast Since 2013 with 369 episodes - **The Rob Berger Show** by Rob Berger 2020 with 120 episodes - Earn & Invest by Jordan Grumet (Doc G) Since 2018 with 482 episodes - Money For The Rest of Us by J David Stein Since 2014 with over 470 episodes Financial/retirement calculators: - calculator.net https://www.calculator.net/?fbclid=IwAR2ZN-hIGhQvq0mpoxf9GZzqSVo7dfIQZiVl4OCZLzxr08xrun2cWAxYFSw - Bogleheads WIKI list of > 45 calculators free and paid https://www.bogleheads.org/wiki/Retirement_calculators_and_spending - RetirePlan – an app for ipads only – my favorite for ease of use [RetirePlan app](https://apps.apple.com/us/app/retireplan/id435739013) - Rich, Dead, Broke (one of my favorites) – will your money last? [Rich Dead Broke](https://engaging-data.com/will-money-last-retire-early/) Uses historical dataset from Shiller back to 1871. - [FICalc](https://ficalc.app) Simulations run back to 1871 using Shiller’s dataset - [FIRE CALC](https://firecalc.com) Has Monte Carlo option - cFIREsim [Link 1](https://cfiresim.com) [Link 2]( https://alistair-marshall.github.io/cFIREsim-open/) Uses historical dataset from 1871 - The Four Percent Rule Calculator www.fourpercentrule.com - Retirement Withdrawal Calculator – nice 1 page setup - https://www.wealthmeta.com/calculator/retirement-withdrawal-calculator - [Portfolio Visualizer]( https://www.portfoliovisualizer.com/monte-carlo-simulation#analysisResults) uses Monte Carlo, several options available - New Retirement (the paid yearly version is very robust with ability to model Roth Conversions) It also models estimated inflation adjusted tax brackets – helpful to see what tax bracket you will be in during RMD drawdowns. [New Retirement](https://www.newretirement.com) Has Monte Carlo function - Note – projectionlab.com looks very similar but I have not tried it yet. [LINK]( https://projectionlab.com) Has Monte Carlo simulations - Retirement Budget Calculator https://www.retirementbudgetcalculator.com - Open Social Security – helps decide optimal withdrawal ages for spouses [Open Social Security](https://opensocialsecurity.com)
Solid plan. This is an order-of-operations flowchart. It may be useful. https://www.reddit.com/r/financialindependence/s/p8Q5lErAY7 Financial blogs, books and podcasts: Library Books: Simple Path to Wealth (JL Collins, if you read only one, start here) - Your Money or Your Life (Robin); Broke Millennial (Lowry); CleverGirl Finance (Sokunbi); Millionaire Next Door (Stanley/Danko); The Index Card (Olen); I Will Teach You to be Rich (Sethi); Building Wealth And Being Happy (Falco); Get it together - organize your records so your family won't have to (Cullin, NOLO) and 8 Ways to Avoid Probate (Randolph, NOLO). Two free books: https://paulmerriman.com/millions-downloads/ New to being on your own? https://www.etf.com/docs/IfYouCan.pdf (each selection has its own voice). Blogs/sites: http://mrmoneymustache.com — http://iwillteachyoutoberich.com - http://gocurrycracker.com — you don’t need to buy anything to read the blogs. How do I get started investing? https://www.bogleheads.org/wiki/Getting_started —— https://www.reddit.com/r/financialindependence/wiki/faq/ Podcasts: Optimal Daily Finance — Stacking Benjamins — ChooseFI * — Big Picture Retirement - lots more. Start from the earliest available episodes and work chronologically to today, as many of these build on prior episodes in knowledge and evolve over time. * except for ChooseFI - they didn’t hit their stride until episode 100. Online classes for personal fi and financial literacy: https://www.khanacademy.org/college-careers-more/personal-finance and https://www.khanacademy.org/college-careers-more/financial-literacy https://www.reddit.com/r/personalfinance/wiki/commontopics/
Please read "A Simple Path to Wealth " by JL Collins. The book will give you a great start on many different financial topics and set you up for success if you follow it.
*"The best time to call 988 was yesterday.* *The 2nd-best time is...oh?* *All over the linoleum?* *Well...(claps hands together)"* \-JL Collins
Hold your money…. Read The Simple Path to Wealth by JL Collins… (you can read it in one day) then make a plan.
No, wrong. Sorry dude, wrong. I'm not anti or pro trump. The market movements are not Trump's fault though. That's like saying when we had a 2 month drop of over 50% during 2020 what caused that was ALSO Covids fault. But how can that be? COVID is not a person or thing, only a disease. It's because choices of others doesn't take actions for you. Soooo... Yeah. Sorry, not one person's fault. The market moves as a whole as the people decide. Right now they are selling based on fear. Nothing has changed, because it never does. One person's choice, global impact, sickness, tsunamis, and everything in between. Nothing has stopped the US market from rising long term. This is a "learn from history" moment. Many fail and that is why history is doomed to repeat itself. This is one of those underlying moments. The book "The Simple Path to Wealth" by JL Collins may be helpful for you.
I like A Simple Path to Wealth book by JL Collins. Bought for my kids when they were teens.
*"The best time to call 988 was yesterday.* *The 2nd-best time is...oh?* *All over the linoleum?* *Well...(claps hands together)"* \-JL Collins
This is an order-of-operations flowchart. It may be useful. https://www.reddit.com/r/financialindependence/s/p8Q5lErAY7 Financial blogs, books and podcasts: Library Books: Simple Path to Wealth (JL Collins, if you read only one, start here) - Your Money or Your Life (Robin); Broke Millennial (Lowry); CleverGirl Finance (Sokunbi); Millionaire Next Door (Stanley/Danko); The Index Card (Olen); I Will Teach You to be Rich (Sethi); Building Wealth And Being Happy (Falco); Get it together - organize your records so your family won’t have to (Cullin, NOLO) and 8 Ways to Avoid Probate (Randolph, NOLO). Two free books: https://paulmerriman.com/millions-downloads/ New to being on your own? https://www.etf.com/docs/IfYouCan.pdf (each selection has its own voice). Blogs/sites: http://mrmoneymustache.com — http://iwillteachyoutoberich.com - http://gocurrycracker.com — you don’t need to buy anything to read the blogs. How do I get started investing? https://www.bogleheads.org/wiki/Getting_started —— https://www.reddit.com/r/financialindependence/wiki/faq/ Podcasts: Optimal Daily Finance — Stacking Benjamins — ChooseFI * — Big Picture Retirement - lots more. Start from the earliest available episodes and work chronologically to today, as many of these build on prior episodes in knowledge and evolve over time. * except for ChooseFI - they didn’t hit their stride until episode 100. Online classes for personal fi and financial literacy: https://www.khanacademy.org/college-careers-more/personal-finance and https://www.khanacademy.org/college-careers-more/financial-literacy https://www.reddit.com/r/personalfinance/wiki/commontopics/
The JL Collins blog is pretty good. Ben Felix's YT channel is objective, well-researched, and well-presented but covers basic and advanced concepts and presupposes a level of financial knowledge. If you really want a good personal finance foundation, here is a list of EXCELLENT books for personal finance beginners that are probably all available at your local library: I Will Teach You To Be Rich by Ramit Sethi; The Simple Path to Wealth by JL Collins (JL Collins also has a really good blog); The Wall Street Journal Guide to Understanding Personal Finance by Alan H. Siegel; The Millionaire Next Door by Thomas J. Stanley; The Little Book of Common Sense Investing by John Bogle; Your Money or Your Life by Vicki Robin and Joe Dominguez; and The Psychology of Wealth by Morgan Housel. This post has a long and very good list. [https://www.reddit.com/r/personalfinance/comments/125yhrz/books\_on\_finance\_you\_recommend/](https://www.reddit.com/r/personalfinance/comments/125yhrz/books_on_finance_you_recommend/)
FXAIX is an excellent choice. There’s a book I think is a must read - “The simple path to wealth” by JL Collins. It covers all of personal finance including investing. It is a good place to start.
"Mutual funds" is an extremely general thing. There are funds that track literally every kind of investment. So this advice is like saying; "If you have an appetite, I suggest food." Your question implies that you might benefit from general investing knowledge. You might start with the following resources: **Wiki**: [https://www.reddit.com/r/personalfinance/wiki/index/](https://www.reddit.com/r/personalfinance/wiki/index/) **Books**: *I Will Teach You to be Rich*, Ramit Sethi *A Simple Path to Wealth*, JL Collins *The Little Book of Common Sense Investing*, John Bogle To give you a quick answer to your actual question... Invest in funds that track the S&P 500 or total U.S. stock market. Optionally, also add a portion (<= 20%) of an international stock index fund. In terms of *where* to put your money; there is a recommended order to personal finance priorities regarding saving and investing: * Contribute to workplace plan(s) enough to get company match; * Save at least 3 months' fixed expenses in a cash reserve for emergencies; * Contribute the maximum to both spouses' Roth IRAs; * Augment cash reserve to 6 months' fixed expenses; * Return to workplace plan(s) and max out contributions; * Contribute any remaining dollars to a taxable brokerage account
Go read "The Simple Path to Wealth" by JL Collins, which does a really good job of handholding for explaining the Bogleheads philosophy. To be frank, from everything you've written here, you don't seem to have actually grasped it yet.
My buddy’s uncle got into a recording studio back in ‘85 and recorded some tapes but never released them. This shit could’ve been an MTV classic. https://youtu.be/03u85L__dzE?si=eKgC1JL85F1MCkBF
I plan to keep investing. I’m just wondering if the strategy should change. I’ve been following JL Collins’ advice for the most part. Which has left me very US centric, and that made a great deal of sense in a US led world order. I feel like I should diversify away from this risk a bit, and I’m looking for ideas
He's certainly entertaining and by watching him (and others) I can gain experience I can't gain from only trading. He's sometimes contradicting himself, but so or others. e.g. JL: in the infinite money glitch video he says build a stable base and then start investing everything. While with the recent strong dip he said to keep x% in cash in case thinks like this happen. F&F: he advised to sell Tempus AI and a few weeks later he contradicted himself. But I don't really care about missed profits, I mainly care about losing profits
I saw a post. There is a book. Called the simple Path to wealth by JL Collin’s. There is a new one out, waiting for it to come to library. I also listen to SUZE ORMAN. She gives the BEST advice on all kinds of financial situations including investing.