#Things to consider
- The next 10, 20, 30, 40, 50 years will have just as many collapses, recessions and disasters as in the past. Every time it will be scary as hell. Every time all the smart guys will be screaming: Sell!! And every time only those few with enough nerve will stay the course and prosper.
- Our psychology is such that we can’t help trying to “time” the market. We tend to jump in and out, almost always at the wrong times.
- Simple is good. Simple is easier. Simple is more profitable.
- Fiddling with your investments almost always leads to worse results.
- Being financially independent is every bit as much about controlling your needs as it is about building your assets.
- As individuals we only have one obligation to society: To ensure we, and our children, are not a burden to others.
- With Vanguard, you own your mutual funds—and through them—Vanguard itself. Your interests and those of Vanguard are precisely the same. This is a rare and beautiful thing, unique in the world of investing.
- The average expense ratio at Vanguard is 0.18%. The industry average is 1.01%. Now this might not sound like much, but over time the difference is immense and it is one of the key reasons Vanguard enjoys a performance as well as a cost advantage.
#Reading log
2024-04-02: This was a recommended book from 📚 Your Money or Your Life and I picked it up because I liked the style of the author. He’s more seasoned and straight to the point. This book kicked off my thinking about putting away more of my income towards investing. I think this book has impacted me the most this year.