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If You Want to Make Money Fast, Don’t Buy Stocks (or Crypto)
Here’s what to do instead.
I wanted to write this article after my frequent reminders and discussions with my brother about controlling his emotions and expectations as an investor.
Last year, my brother opened his first investment account and invested all the money he got.
However, I had to guide him as he had spent zero time learning about investing and finances.
He followed my recommendation to buy a low-cost S&P 500 index fund with the intention of holding it until he was ready to retire.
But as with all new investors, there was a fear of missing out. Seeing Nvidia’s explosive growth had him asking questions like why I didn’t recommend that he buy Nvidia instead.
My answer has always been to buy whatever you want if you can back up your choices with sound reasoning.
If you have the time to research individual companies and their industries, then yes, buy what you believe in. However, if you don’t, stick with a simple strategy like investing in an S&P 500 index fund.
