Quote:
Originally Posted by FlyingScot
This is exactly it. If you've had money in the stock market or similar investments, it's been a gusher of additional wealth for approximately the last 12 years.
Ironically, to Maxum's argument, this additional wealth from the stock market has required zero brains or effort--it only requires that you had money in 2009 (through some earlier combination of brains, work, luck).
|
All that has been needed is the concept of dollar cost averaging, through the ups and downs, let the market do it's thing, just keep making that monthly payment to yourself into well managed low cost mutual funds, ETFs or if you have the desire go buy your own portfolio of individual stocks. Years later YOU reap the benefits.
On the contrary you can live like a rock star, leverage every bit of credit you have to do it and let somebody else reap the long term benefit while you live pay check to pay check floating all that debt with little to show for it at the end of the day.
It's a simple choice or maybe better put philosophy.