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The Gold Crown Podcast


Jan 4, 2022

Everyone has the exciting decision to make about what kind of assets you want to invest in. If you have chosen Stocks and Bonds (or want a piece of your portfolio to include them), then I can think of no better books to read than Millionaire Teacher by Andrew Hallam, and Retire Before Mom and Dad by Rob Berger (as a side note, you may also wish to read A Random Walk Down Wall Street). Andrew Hallam became a millionaire even though he was a teacher, and Rob Berger is a lawyer who also was a Forbes deputy editor. 

Stock investing has its own lexicon, its own unique behavior, and also its own culture. This can be very confusing and lead many investors to just throwing their hands up and randomly putting money in any fund because they don't know the difference. Sadly, there are several financial organizations that prey upon the ignorance of investors and encourage them to invest in much higher cost funds because the the sales-people get a bigger commission. Even worse, many groups deceive investors into thinking their funds are superior because they "actively manage" the investor's portfolio. Don't be one of them! 

BIGGEST 3 TAKE-AWAYS:
1.) NEVER invest in an actively managed mutual fund. NO ONE CAN PREDICT THE MARKET. You're paying massive fees (sometimes as high as 1%+) just to underperform.
2.) The MOST proven way to succeed with stocks is a low-cost index mutual fund. (These can be as cheap as .02% in fees! Checkout Vanguard)
3.) For more autonomy, efficiency, and less involvement, but slightly higher fees, consider a life-cycle fund or a robo investor (~.2% for life cycle, and ~.35% for robo investors) 

 

-Millionaire teacher - Andrew Hallam - the 9 rules of wealth you should have learned in school.
-Retire before Mom and Dad - Rob Berger - the simple numbers behind a lifetime of financial freedom

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