I'm on Chapter 12 for the book "The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime (author: MJ DeMarco)".
Anyone else here read that book? Curious to hear your thoughts on the author's opinion on investing in mutual funds.
FYI: I have the exact same opinion as the author and what is stated in that book makes logical sense and is always how I have felt. But at this point, I have given up. I no longer see it happening. Because I agree with the author, that is what me made delay in investing in my 3 fund portfolio at Vanguard as a back-up incase I didn't strike it rich. Now look where that thought process got me? I lost 28 years of compounding interest! I delayed investing in my stock portfolio because I figured I would start investing in my portfolio once I have x amount of money.
I don't understand the author of that book. Because most businesses fail. Yet if you start investing in VTSAX, VTIAX, VBTLX when you are young (with proper age appropriate asset allocation and a couple decades of time) it is almost impossible to fail? Crazy to not at least have mutual funds as a back-up.
Yes being rich at age 25 is obviously better than being "rich" at age 65 (when most of your life has evaporated) but author of that book makes it seem too realistic to be the former. I just feel defeated.
Anyone else here read that book? Curious to hear your thoughts on the author's opinion on investing in mutual funds.
FYI: I have the exact same opinion as the author and what is stated in that book makes logical sense and is always how I have felt. But at this point, I have given up. I no longer see it happening. Because I agree with the author, that is what me made delay in investing in my 3 fund portfolio at Vanguard as a back-up incase I didn't strike it rich. Now look where that thought process got me? I lost 28 years of compounding interest! I delayed investing in my stock portfolio because I figured I would start investing in my portfolio once I have x amount of money.
I don't understand the author of that book. Because most businesses fail. Yet if you start investing in VTSAX, VTIAX, VBTLX when you are young (with proper age appropriate asset allocation and a couple decades of time) it is almost impossible to fail? Crazy to not at least have mutual funds as a back-up.
Yes being rich at age 25 is obviously better than being "rich" at age 65 (when most of your life has evaporated) but author of that book makes it seem too realistic to be the former. I just feel defeated.
Statistics: Posted by Tropical — Mon May 20, 2024 12:30 pm — Replies 7 — Views 555