Younger folks- Now is a once in a decade time for you. Over your investing life you might see something like we saw in 2022 maybe five to eight times. Take advantage of it.
Four basic concepts you have to remember if you want to be successful in the long run in the stock market.
The turtle always wins over the hare — slowly but surely. Don't buy junk — Most unprofitable tech and all Crypto falls into this category. Except with your casino money.
Dollar cost average — buy some every month regardless of what the market is doing. When the market was like 2022 and probably 2023 buy as much as you possibly can on a big down day.
Diversify — good cheap, broad market ETFs from Vanguard or Fidelity are great.
Let physics or whatever heavenly name you want to call it be your friend — “COMPOUND INTEREST” has no equal, except lack of time. A young person can get rich in 30-35 years if they follow these rules.
And, If you are younger, hope the market stays down for years. It is your time to accumulate and get that snowball rolling, so that when you are in your 50s you are making more in the market than from your salary. I started seeing that in my late 40s, but I have maxed out everything for going on 26 years. Learn about FI. And best of luck.
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