Here's my take on stock picking, trying to find the "next big winner," or constantly asking which ETF to buy... If you're an early investor, you're probably focusing on the wrong thing. Instead of chasing high-yield covered call ETFs, trying to beat the market with stock picks, or stressing over whether VFV, XEQT, or VEQT is the "best" ETF... Focus on increasing your income from your 9–5. A higher income means you can invest more. The difference between investing $500/month and $2,000/month will have a far greater impact on your long-term wealth than picking the perfect stock or ETF, or picking to be a growth or income investor in the begging. Your income is your biggest wealth-building tool in the early years and learning to increase that will have far greater impact that you think.
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15 Comments
Crazy Canuck Investor @crazycanuckinvestor · 13d
I started investing at 50. While I started with 220k that’s a far cry from what we needed Of course if we had started when we were 20 things would be different. But we can’t live in the past. So I stated investing and figuring things out. It didn’t take me very long to realize I need to invest far more now that I am older. But I am also in my highest earning years. So I figured out that the one thing I can control is the amount that I contribute. I have been working overtime as has my wife so we can get to out retirement goals. In just over 3 years we have gone from 220k to 595k and growing. Great post will.
Catherine @ffcatherine · 13dEdited
Makes sense! The more you can invest the more your money can compound until one day the portfolio will reach a “cross over” point where it’ll make more in one year then you can contribute.. Focus on earning capacity first ..
RandomYaapping @randomyaapping · 14dEdited
I have said it many times. If you are in your 20s, the best investment you can make is outside of the stock market. Bet on yourself 😉
ETF Go@etf.go · 13d
💯 Happy to confirm this is true. 👍
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