Re: How did you do it? Financial Success Thread
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Putting money into an index fund doesn't somehow lock it in, though. The power of a compounding investment early in life pays dividends later when you will find business ventures. Having an extra 100k because you were smart at age 21 is invaluable.
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seriously though, is there anyone that doesn't know this? anyone that is smart enough to make 6 figures when they are 20 years old has invariably been told to stick it in an index fund. this to me doesn't take a ton of brains and is pretty standard. being smart is taking that X dollars you made and putting it in something that is going to make you abnormal returns over time, the index fund simply seems like a safe bet to me.
i agree, having an extra 100k because you chose to put your money in an index fund rather than leaving it in your checking account is great. i guess i am hoping that in 30 years that extra 100k will be insignificant compared to the money i have made by working harder and taking more risks than everyone else along the way.
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