I cant do anything about making you stick less food in your mouth or dropping

I cant do anything about making you stick less food

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I can’t do anything about making you stick less food in your mouth or dropping to the floor for some push-ups and then dashing out the door for a run, but I can do quite a lot about motivating you to do your own investing. Getting you to do what you know you should but can’t quite. And you probably have a sense that these days, it’s more imperative than ever to learn how to take charge of your investments. Our entire financial system has nearly melted down and, in the process, created great problems for the average person’s financial future. You know it’s critical to do something today to secure your retirement later, because what you’ve been doing just hasn’t, well, worked . Most of the people I meet nowadays don’t even want to talk about their retirement funds because they don’t know if their money will be there when they need it. They are often stunned when I start sharing with them the facts about how those funds are managed, as well as the simple solutions to a great retirement completely within their reach— solutions that can make them rich in very little time. You could be starting with close to zero dollars today in a horrible stock market, apply what I teach you in this book, and have a bundle of money in ten years to do whatever. Maybe you won’t be ready to retire just yet, but you’ll want money for other things, like paying for your kids’ higher education, starting a small business, or buying a dream vacation home and taking more time off from work. I’m not here to tell you what to do with your riches as long as you keep investing your money the way I’m going to teach you. The goal is to continue to grow your retirement money and have plenty extra to play with between now and the day you actually do decide to walk away from the workforce. And to do that with less risk than you are taking now. How great would that be? All it takes is a willingness to embrace a style of investing that your fund managers—who probably just lost you a ton of money—cannot. And you have to accept that no one can do this for you. You must do it yourself. Here are a few truths that might surprise you. I’ll explain all these later in this book—for now, I just hope they’ll prompt you to take what I’m teaching seriously:
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FACT: Mutual fund managers get rich at your expense—stealing as much as 60 percent or more of your returns over your lifetime through fees . FACT: The average individual will need more than $3 million to be financially independent in retirement in twenty years, and won’t get there with mutual funds. Not even close. FACT: Ninety-six percent of fund managers can’t equal the historical market average return of 8 percent per annum. When the market goes down, they go down with it, no matter how “low-risk” their funds are supposed to be. Another fact of the matter is that opportunities abound during volatile markets. This book will give you the intellectual foundation for getting rich during any type of market climate, but particularly during unstable sideways markets, which can last for years, even decades . As millions of people agonize over diminished or obliterated
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  • Spring '20
  • Warren Buffett

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