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I've made a little over 200K for the past few years, but my problem is how to keep it and build wealth from it. I store a fair amount in home equity, 401k, etc
by 13of40 10y ago
I've made a little over 200K for the past few years, but my problem is how to keep it and build wealth from it. I store a fair amount in home equity, 401k, etc. but any time I've tried anything in the stock market I've lost my ass. But to answer your question, I will echo a lot of people and say "specialize". My brother made a lot of money in the 00's by becoming the last expert of an obscure database product used by local governments.
- jerkstate 10y agowww.bogleheads.org
- toephu2 10y agoGive up trying to beat the market, just call it a day and invest in a S&P 500 index fund. Hedge funds and money managers that get paid $1m+/year can't even beat the S&P 500 in the long run (20+ years). The only one that has beat the S&P year in and year out is Warren Buffet's Berkshire Hathaway, but even now he admits his conglomerate is so big it will be tough to do that in the future and he also recommends a low cost S&P 500 index fund instead.