Don't Overcomplicate The Basics
5 Easy Ways To Build Wealth:
- Spend less than you make
- Invest in low cost index funds consistently
- Don’t focus on the week by week returns (Block out short term noise)
- Limit debt and focus on value added debt
- Be patient
I couldn't agree more with this post. They are simple steps to understand but difficult for many people to put into practice. Especially the patience part.
"Invest in low cost index funds consistently" <-- This one won't work as well as active investing in the next decade should the FED do the right thing and keep increasing rates IMO
Being patient is a tough one for sure. $QQQ is still up almost 100% for the last 5 years!
Not bad doubling your money every 5 years if those type of returns continue.