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Charles Schwab company did a survey of those of their customers who did very well over the long run, and they found a surprising attribute of a large number of
by lucas_membrane 3y ago
Charles Schwab company did a survey of those of their customers who did very well over the long run, and they found a surprising attribute of a large number of the most successful investors: they had forgotten that they had the account. Buy and hold!
- Cthulhu_ 3y agoSurvivorship bias though; did they report on anyone that held the account for a long time and lost money? But yeah, this is the generalised advice; spread your investments, index funds, and wait. The market's trend over long term always goes up. It's just that it's more of a retirement plan than a get rich quick plan; people want or need money early in life, buy a house, be financially secure. I think it was better for everyone back when, when the Simpsons started airing, where a single low education level income was enough to buy a house and support a whole family. That was wealth.
- blitzar 3y ago> The market's trend over long term always goes up Actually it is mostly just population growth + inflation - which is almost always positive.