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Ask HN: What is the best financial advice someone has ever given you?
1–10 of 62 posts
Re: Ask HN: What is the best financial advice someone has ever given you?
#2Compound interest.
Save early.
Re: Ask HN: What is the best financial advice someone has ever given you?
#3One reason it's difficult to "time the market" is that doing so involves selling when it's going up and buying when it's going down, exactly the two things that are most difficult, psychologically, to do.
Time in the market is better than timing the market.
Re: Ask HN: What is the best financial advice someone has ever given you?
#4"Markets can remain irrational longer than you can remain solvent."
Re: Ask HN: What is the best financial advice someone has ever given you?
#5One reason it's difficult to "time the market" is that doing so involves selling when it's going up and buying when it's going down, exactly the two things that are most difficult, psychologically, to do. Time in the market is better than timing the market.
I've been there. the anxiety of not knowing if it's the moment to sell, or if I would just lose extra gains.
Re: Ask HN: What is the best financial advice someone has ever given you?
#6"Markets can remain irrational longer than you can remain solvent."
The main question is how to become solvent in the first place
Re: Ask HN: What is the best financial advice someone has ever given you?
#7One reason it's difficult to "time the market" is that doing so involves selling when it's going up and buying when it's going down, exactly the two things that are most difficult, psychologically, to do. Time in the market is better than timing the market.
That's one of my favorite expressions - I think I first heard it in the Bogleheads subreddit. The redditor in question was trying to help a first time investor with a traditional three part portfolio (domestic, international, bond).
Re: Ask HN: What is the best financial advice someone has ever given you?
#8Read the Bogleheads Wiki [0] for a simple broad foundation on basic personal finance and wealth accumulation.
Re: Ask HN: What is the best financial advice someone has ever given you?
#9Invest in skills that pay money and spend less then you make.
Skills are key because they’re inflation-proof, and no person or government can ever take them away
Re: Ask HN: What is the best financial advice someone has ever given you?
#10Diversification is for poor people