Probably the most important conversation we have at Lambda is the personal finance training. “OK so you tripled your income. Now keep cost of living low, avoid debt, use tax advantaged low-fee investments, and you will end up rich, absolutely guaranteed.”
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It’s healthy to be a little crazy but it’s also healthy to admit, at least to yourself, that sometimes you might be wrong ;)
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Sure, what’s wrong though? If you invest $2,000/month from the time you’re 24 how do you end up anything other than rich?
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Better chance than most but it's important for students to know there are no guaranteed investments. My family lost 70% of assets in the .com boom from "low-fee" blue chip funds. Also debt can be great - I borrowed money to buy FB stock pre-IPO, good real estate, etc
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Not sure I agree. If you bought the S&P 500, even at the height of the .com boom, and held until today the return is 53%
End of conversation
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