by JL Collins
**now that there are no trade commissions —VTI is the functionally the same as VTSAX
Save more than you earn, don’t get into debt, and invest your surplus
By the time you know enough to pick a financial advisor you know enough to manage it yourself
When the market crashes, buy more
You are financially stable when you can live off 4% of your investments per year
If you could learn to cater to the king you wouldn’t have to live off rice and beans. If you could live off rice and beans you wouldn’t have to cater to the king
Money isn’t the goal, It is a means to pursue your real goals — focus on the present
Don’t take on debt, invest in index funds, save 50% of what you earn
Rules and regulations may have changed and future performance calculations is not guaranteed based on historical figures
Taking on debt is the worst financial decision you can make. Even “good debt” is financially constraining and siphons funds that could be going towards investments
If you have debt, pay off the highest interest rate portions first. This will get you in a habit of keeping a portion of your income to put towards improving your finances. Once all your debt is paid off, you can begin putting this money into various investments and getting on your way to a secure financial future.