[aquila48]

More at the link...

[lightman]

“Most Americans with a net worth of a million dollars or more maximized their income, lived within their means, saved regularly, invested smartly and let their money compound for years – if not decades. “

...”saved up” for major purchases and paid off credit card debt immediately.

Mrs. L~ and I became totally debt-free three years ago. No mortgage. No car loans. Financial FREEDOM!

[SaveFerris]

($1 invested in gold in 1802 would have been worth $90.05 at the end of 2021)

I knew it!

When I graduated in 1802, I almost bought $30,000 in gold.

But I expect to become a mult-millionaire with my anti-aging formula.

I made up for my 1802 gold mistake in 1863 using this one weird trick.

Don’t tell anyone, though. It’s a secret.

https://youtu.be/ewj3wrIUR3s

[Secret Agent Man]

One thing he doesnt do though, is factor in the loss of purchasing power of the dollar due to inflation.

1 dollar into 36000 from 1802 to 20221 fine.

Now factor in inflation from 1802 to 2021 on that 36000, to see what it really is compared to the 1802 dollar’s purchasing power.

[Kevmo]

Same old standard schtick: Buy Low and Sell High.

[joshua c]

the answer is freedom

[sauropod]

Bkmk

[metmom]

Most Americans with a net worth of a million dollars or more maximized their income, lived within their means, saved regularly, invested smartly and let their money compound for years – if not decades.

What a novel concept.

[gattaca]

All good advice. Pay off debt, live within your means, invest...

[zeestephen]

The simplest formula is to buy and hold the S&P 500 (stock symbol SPY).

Since 1950, over any given 10 year period, the S&P 500 has out performed 80% of professional investment advisers.

The Nasdaq 100 (stock symbol QQQ) can also be very tempting, but it has higher risk than SPY.

If you bought and held QQQ in 2009, you are up 1,700%, which is up almost 2X times SPY - which is an amazing return.

However, if you bought a Nasdaq 100 mutual fund in 1992 and sold in 2009, you simply stayed even with the S&P 500 - which means you earned zero reward for accepting higher risk for 17 years.

email this chart printer-friendly format

[PIF]

Most Americans were not born in 1802 ... investing a dollar in 1960-70 might be a more apt example.

[CptnObvious]

And a single dollar invested in common stocks with dividends reinvested – drumroll, please – would have been worth over $45 million.

And what would the equivalent invested in a ROTH IRA in a Mutual Fund like VINIX produce in the same time frame. Boat loads more. Why?

Long term and Short term capital gains distributions compounding with Quarterly dividends. Compounding on Steroids!! Plus not taxable after ones age is 59 1/2.

Our VINIX did all the above both in 2020 and 2021. Whoo.. hoo! And beat the S&P as well. A great base mutual fund for ones retirement egg!

[jdege]

Annual income twenty pounds, annual expenditure nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
- Wilkins Micawber

[consult]

Very surprised how poorly gold performed.
Wonder how real estate fits in.

[Pajamajan]

Bookmark

[Harmless Teddy Bear]

The Greatest Wealth Creator of All Time

Make it easy to legally acquire property.

Have a system of laws that protects the rights of property owners.

Have an even handed justice system.

Have those three things and your society quickly create wealth.