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#financialadvice

1 post1 participant1 post today

Omkhar retirement lesson #3 : How to get rich quick.

You don't.

Here's what works:

1) Spend less than you earn, and save/invest.
2) Never take credit*. Prioritize paying debts ASAP.
3) You cannot time the market. You can dollar cost average.
4) Minimize taxes and management fees.
5) Slow and steady wins the race.
6) You’re not smart enough to pick individual stocks for alpha, just buy index funds and find a hobbby.
7) Diversify.
8) Stop taking advice from bozos on social media - especially me.

* Source: Biggie Smalls, Global Macro Strategist, 10 Crack Commandments, 1997

@linuxfoundation / @openssf friends, I'm going to miss ya'll in Vienna next week. Have the best time, and post lots of pictures!