I love this bowl 🙃

likehelpful
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Me too. Have learned so much here since quarantine. Thanks all 🐠 😘

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Yes! Everyone is so nice and helpful, and knowledgeable! You all are awesome.

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I’m glad you all are benefiting from this.
If I may grossly generalize, there are two groups of people in this bowl.

Group #1 - Active Investors: people who have been investing for a long time and understand all the difference in investing instruments available for them. Some of them have formal education and/or training on derivatives and do this for a living. They talk about options, bonds, Forex, shorting stocks, etc. they are called active investors.

Group #2 - Passive Investors:
They talk about:
long-term investing in VOO or similar market indices
Importance of setting up a budget and sticking to it
importance of setting up automatic transfer of percentage of your monthly income to investment account towards index funds and not try to time the market — benefit of “dollar cost averaging”
use historically low mortgage interest rates to refinance if they have high interest rate mortgages (given the one time cost of refinance, you need to make sure your current rate is high enough to make the refinance worthwhile. Do an excel calculation).
Contribute the annual maximum allowable amount to Roth-IRA and max out 401ks before you put money on any other investment account.
Payoff high interest debt from the highest interest rate first. Until you payoff debt with more than 5% interest rates. You should stick to the loan payment plan for debt with rates below ~5%. If you have a car payment, mortgage, student loans that are less than 5%, you shouldn’t be funneling your savings to pay those low interest debts.
Tax planning - saving your investment returns from Uncle Sam is half the battle and often the hardest piece to understand. This require significant amount of self-study and research and I’m still struggling with this.

If you are looking to have a better retirement and you have regular job that is not related to working with financial markets, you are better off following advice of group #2.
Honestly, imperial evidence suggest, assuming markets will continue to behave the same way they behaved last 75 years, you will likely be better off than 95% of the active investors, if your investment time horizon is 35-40 years.
Good luck!

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