this post was submitted on 24 Feb 2024
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My advice is to read the simple path to wealth. I listened to the audiobook, its short and sweet and entertaining.
The gist: Nobody consistently beats the stock market (not even the people being paid to do so), don't try, it's gambling. Buy index ETFs when you have extra and hold on to them until you retire. Don't time the market, dont overthink it. Buy and forget. There's a part of the book where he says that the best group of investors were dead people and the second best were people who forgot about their investments. Idk if it's true but it stuck with me.
Spend a few hours learning about tax differed savings accounts or whatever your country offers and take advantage of them.
In my experience, being investing intelligently is really fucking easy and really fucking boring.
Add a bit about moving from stocks to bonds as you approach retirement to top off your advice.
Also, pay off debt before you invest.