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My aunt's retirement plan advice in Phoenix actually worked out
My aunt told me to put 30% of every paycheck into boring index funds instead of trying to pick stocks. I thought she was crazy because everyone on Reddit says you need to be aggressive when you're young. After 4 years of doing it, my balance is way ahead of my buddy who traded crypto and lost half his money. She also said to ignore anyone selling courses about day trading, which saved me $800. Has anyone else gotten surprisingly good advice from an older relative?
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jana8819d ago
...and there I was at 22 convinced my uncle was ancient history with his talk about "slow and steady." Four years later, my boring mutual funds are up about 18 percent while my coworker who bought that meme coin is still waiting for it to come back. I also almost paid for a "sure thing" options trading webinar until I remembered my grandma saying if it sounds too easy, it usually means someone wants your money. Turns out the older folks who lived through a few market crashes know a thing or two about not panicking. I still check my portfolio too much, but at least I'm not checking it while crying like I used to.
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