Reading 'Millionaire Teacher' changed how I manage my money - Business Insider

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Reading the book 'Millionaire Teacher' by aphallam showed her the huge mistake she was making with her retirement savings

It was the definition of a lightbulb moment., even when downturns like the Great Depression were taken into account. As a young investor, I'd be able to take advantage of that big-picture return rate simply by staying invested and getting a strong stomach for the natural ups and downs that would occur along the way. to those dips, and to see them for the excellent investment opportunities they are.

Conversely, when it's the owner ahead and the dog far behind, many investors start to get nervous, fearing that that pattern will continue forever. Once again forgetting the leash, they pull their money out of the market when they should be adding capital. When the dog is far behind its owner, Hallam urges the reader to see that not as stagnation, but as potential for growth. Logically, he pointed out, we know that the leashed dog and its owner will cover the same amount of ground in the same time frame, even if they travel at different speeds. So buying in when stock prices are low ensures that you'll get even more bang for your buck when the dog inevitably goes barreling past you again.

Plus, with so many decades between myself and retirement, I had ample time for all those ups and downs to even out into a remarkably low-risk upward trajectory.It's hard to overstate just how helpful this information was to me when I received it. After I read that chapter, I logged onto Vanguard that very night to invest my Roth.

 

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aphallam Guess glad you finally listened to a adult. Finally, learned what your parents were trying to tell you.

aphallam the wealth you earn as a teacher is the knowledge you grow in others.

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