Quote:
Originally Posted by Crowbob
Ditto on 6bar's advice. I prioritized 1) eliminate (prevent) debt 2) manage expenses 3) minimize Obama's cut. These make living off investments possible in the first place. A healthy cash reserve facilitates #1. Keep it simple. Making more $ + spending less = wealth no matter how $ is acquired.....
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Everyone in this thread has it just about perfect. For twenty years I just maximized 401Ks (at minimum, get matching), with diversified, low cost funds, while I played adult and built equity (through many ups and downs). At 40 (with no debt by then), I took a more active approach, slowly at first, and haven't looked back. I did peer into Sammys crystal ball one time and bought TSO at 39...sold it at 13. I don't blame Sammy...I knew better and couldn't resist greed either
. You guys are good...
edited: Dmcummins posted as I was typing...nicely done too