: Every dollar spent servicing a 19% APR credit card is a dollar that cannot compound at 8% to 10% in the broader market.
You are buying a small piece of virtually every publicly traded company in the United States. As the American economy grows, your wealth grows with it. the simple path to wealth pdf github
The strategy only works if you do not panic. Market crashes are a normal, healthy part of the economic cycle. Collins instructs investors to never sell during a downturn. Instead, view market drops as "stocks going on sale" and continue buying consistently through dollar-cost averaging. Navigating GitHub for Financial Summaries : Every dollar spent servicing a 19% APR
This public link is valid for 7 days and shares a thread, including any personal information you added. This link or copies made by others cannot be deleted. If you share with third parties, their policies apply. Can’t copy the link right now. Try again later. The strategy only works if you do not panic
Aim to save and invest a significant portion of your income—ideally Invest the surplus:
Many financial advisors intentionally make investing sound complex to justify their high fees. Collins argues that complex investments exist only to profit the people who sell them. A simple investment strategy actually outperforms complex portfolios over the long term.
Vanguard’s Total Stock Market Index Fund ( VTSAX ) or its ETF equivalent ( VTI ).