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This chapter is from the book

Boiling It Down

  • Don't go down the rabbit hole of constantly buying individual stocks or day-trading. You probably don't have the time or the expertise. Stick with index funds and ETFs.
  • If you must buy stocks, don't buy stocks and never sell them. If a stock is a long-term dog, sell it. The same goes for ETFs or other assets.
  • You can't just forget about your stocks or any of your investments for months on end.
  • Keep your costs low. Stay away from high-priced funds and watch out for big fees on investments.
  • Simply investing 60 percent of your money in stocks and 40 percent in bonds is not enough diversification.
  • Rebalancing your assets on a regular basis, holding bonds, and understanding your emotions will make you a better investor.
  • Understand how much money you will need to retire.
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