DIY Investor Magazine
|
Oct 2017
13
WORK HARD AS HELL. IT DOESN’T HURT’
be a much wider opportunity. The world of technology
has totally altered career paths by making it easier for
people to start companies and for companies to replace
workers.’
When investing, get yourself in a routine
– Bogle
suggests young people should stick to low-fee index
funds; create a fund that is 75% invested in stocks
(‘get the stock market’s return’) and make regular
contributions.
Then – ‘Never do anything. Don’t open your damn
statements.
Don’t peek. These are the relentless rules of humble
arithmetic. Someone contributing $500 a month for 45
years, earning 5% a year would have nearly $1 million at
the end.
Don’t hire a financial advisor
– ‘Unless you need a
financial advisor to help you get started in that routine,
you probably don’t need a financial advisor at all.’
However, Bogle said that if required a low-cost robo
advisor may be preferable to traditional advice to help
you automate your investing: ‘It’s a personal choice.
If you think you need a helping hand, then you do.’
Stay in the game
– given his brushes with death, Bogle
shares George Bernard Shaw’s life-force philosophy,
telling young people that he always had a determination
to ‘get back into life to be part of life.’
One of his surgeons was struck by his will to live: ‘I recall
a man … whose spirit was consistent with his approach
to his career and life, he was fully invested.’
