/biz/ - Business & Finance

[Anonymous No.19425987]

What the best financial advice you were even given /biz/?

Mine was really simple: Do not pay debt

[Anonymous No.19426597]

Don't but property you can't profit off of

[Anonymous No.19426611]

>>19425987
Buy bitcoin
Too bad I didn't listen

[Anonymous No.19426835]

>>19426611
This hurts. I knew about bitcoin around 2012 and didn't do anything about it

[Anonymous No.19426844]

Read revelation 5

[Anonymous No.19426882]

>>19425987

Unless you become an expert stock analyst who can consistently beat the market, just invest in index funds. They will always go up eventually.

[Anonymous No.19426893]

>>19426882

That was from my very intelligent finance professor btw.

>>19426882

Also from Rich Dad, Poor Dad: buy assets that generate cashflow. An asset that reduces your cashflow (such as a house that has maintenance expenses but no rental income because only you live in it) is not really an asset, but a liability.

[Anonymous No.19426993]

>>19426882
>>19426893
>finance academic encourages his students to do the most brainless riskless investing possible
sure for most people but it doesn't take an exceptional amount of skill to invest in choice stocks and hold them long term to receive >>>>> returns than a gay index fund. the disconnect between institutional investing and academia is so real

>t. ivy finance undergrad who did sophomore goldman internship last year

houses that you live in can also be assets because the property value appreciates as well, you mongoloid. If i bought a house and not rented it in silicon valley 20 years ago i would have experienced an insane return on my investment. not to mention you definitely do need a place to live and having equity in your home > renting and burning the money away (if you plan on living in the same place for 20 years / can buy the house in cash).

this piece of """"advice""""" sums up to be "don't buy things that lose you money." brilliant take there.