Most people are not cut out to buy individual stocks.
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This isn’t an insult or a bad thing. It’s simply the reality. One that you should embrace.
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When I was an undergraduate student at Cornell University, I took a psychology class called “How to Make Better Decisions?”. The course was a class taught by a large number of social psychology and economic experts to teach students how to improve their decision-making processes, backed by real-world data. One of the biggest lessons we had was about compound interest.
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The strategy, as they described it, was very simple. They showed that mathematically, investing just $500 per month every month is all you need to become a millionaire in 40 years.
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You can do this by continuously purchasing VOO or SPY. It’s not hard, it takes minutes to set up, and is one of the best investing strategies by far.
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So, if you’re not interested in learning how to detect patterns in non-stationary (forever-changing) data, performing financial research, and risking your hard-earned cash for a chance of greater returns, then you should at least take the insights from my education, and learn the secrets of compound interest.
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And for the rest of you, here are 5 things that I will do to make savvy investors filthy rich.
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