Someone in an online book club asked a question about getting into investing in stock. This is the best advice I could have for him and I pasted my answer below for you all. The most amazing thing is how you can give the best advice to people free and they will not follow it. The greatest gift is scorned. Perhaps, I should start charging. Usually my advice is a synthesis and combination of successful people smarter than I am. This is no exception.
This advice below is what I suggest for most people who have a nest egg of savings that they want to grow into something enormous.
If you have small sums, you have enormous advantage over Warren Buffett in numerous ways if you want to invest in stock. I advise against it for 99.99% of people. It requires a tremendous amount of reading to get decent which requires a tremendous interest in the topic. If this is not the path for you, I advise a low cost index fund (Vanguard). You’ll do decent and beat most money managers in the long run if you have the stomach and hold this for 10, 20, 50 years out
Views – 777