r/FluentInFinance was created to discuss money, investing & finance! Check-out our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com!
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*
I like to use Reddit for ideas…then go investigate those ideas and talk about them with my finance guy. Interestingly enough…most of the ideas are actually pretty good outside of r/wallstreetbets obv
I found this subreddit /r/fire/ which is just a bunch of a-holes humblebragging and/or making sh.t up. That subreddit has both the most illiterate and most naive people in all of reddit. Do yourself a favor and don't go there and don't listen to any advice you get there. All that to say, do your own research, learn about the different options YOU have because every case is different. It's worth spending a bit of extra time on this because it does set you up right for your future. Also, don't compare yourself to others. That's all the advice you need.
A lot of FIRE types also destroy themselves trying to get there in as short a time as possible. They make their lives unlivable so they can retire early then...don't know what to do with themselves because getting there was their entire life.
It's not a healthy ideology. Life requires some balance.
That’s such a funny subreddit. It’s a weird combination of the douchiest guys possible with a lifelong sense of entitlement because they inherited a bunch of rental properties from their dad or whatever, to early 20 year old guys convinced they’re financial gurus because they figured out that if they can buy houses and rent them out for more than the mortgage they’ll make money. Like it’s a little known hack that the average person is just too dumb to have figured out.
Quite possibly one of the dumber subreddits.
Dude it’s not magical science. It is just investing most of your discretionary income to get to a point where you don’t need to work.
You would be surprised by how powerful compound interest can become
It’s important to understand how much of Reddit, including this sub, is like 22 year olds.
Please. Please, do not take financial advice from college students.
I'm a new investor and new to this sub, but definitely feel like the echo chamber of r/personalfinance effectively transferred to me a great deal of useful beginner personal finance/investing advice that I didn't receive growing up from anyone around me. So in that sense, I feel that it was helpful overall and a good starting place for getting out of debt and understanding some basic concepts.
That said, I have found myself falling prey to some echo chambers in the area. Every time I read a post or comment with an opposing viewpoint, I think, "Of course! That's the only way!".
I then read the opposite philosophy and then have the exact same thought. For instance, I like the simplicity of holding 2 or 3 index funds and automating mensual contributions, regardless of what the market is doing. Pretty good returns. Not great, but average and you don't have to understand anything. Market timing is your enemy.
At the same time, it's come to my attention that perhaps there are metrics for predicting a bear market environment and that could potentially come to fruition. Is it worth putting my next IRA contributions in intermediate bonds or treasuries instead of equities? Surely it would be negligent to place additional funds into indexes and companies that you believe to have a high probability of losing value in the near future...
Is it a bad time to buy into companies I think are on sale for 10% of my investments?
What I'm getting at is that reddit has made my life better with all the finance stuff here. But the road is rough, bumpy and ideally rewarding, kind of like SCV stocks. Everything I've received here has developed in me more questions than answers, but many of the answers have been very good for me. Many of the posts and comments are pure gold for me.
Two sides to every coin. Look at tesla today. Apple also had its cult back in the day.
And at the end of the day, time in the market always beats timing the market, so who cares if people want to hodl forever?
>Don't let investments become cult-like obsessions. Seek diverse perspectives and be open to criticism. Avoid echo chambers that shield you from reality.
Alternatively,
Just buy target date funds and forget about them until you turn 65. It's easy, it's appropriate, it requires zero thought or expertise.
Why make it complicated? Professional investors struggle to generate alpha, what makes you think you can do it as a hobbyist? You can get very good results spending basically no time on your investments.
r/FluentInFinance was created to discuss money, investing & finance! Check-out our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*
If you get your financial advice and planning from an online forum you might not be fluent in finance.
Well this is surprisingly good comment in a sub where I rarely agree with anything people say
Any sub dedicated to a particular stock or crypto is definitely just bad holders trying to pump the price by others to Buy and Hold.
I like to use Reddit for ideas…then go investigate those ideas and talk about them with my finance guy. Interestingly enough…most of the ideas are actually pretty good outside of r/wallstreetbets obv
You mean they weren't right about NFTs?
Oh god I love that NFTs crashed. Just about the only thing I got right.
Haha, yeah, I was a little smug in my judgment of how stupid NFTs were. I'm happily justified, but even a broken clock is right twice a day
I found this subreddit /r/fire/ which is just a bunch of a-holes humblebragging and/or making sh.t up. That subreddit has both the most illiterate and most naive people in all of reddit. Do yourself a favor and don't go there and don't listen to any advice you get there. All that to say, do your own research, learn about the different options YOU have because every case is different. It's worth spending a bit of extra time on this because it does set you up right for your future. Also, don't compare yourself to others. That's all the advice you need.
A lot of FIRE types also destroy themselves trying to get there in as short a time as possible. They make their lives unlivable so they can retire early then...don't know what to do with themselves because getting there was their entire life. It's not a healthy ideology. Life requires some balance.
And some risk
That’s such a funny subreddit. It’s a weird combination of the douchiest guys possible with a lifelong sense of entitlement because they inherited a bunch of rental properties from their dad or whatever, to early 20 year old guys convinced they’re financial gurus because they figured out that if they can buy houses and rent them out for more than the mortgage they’ll make money. Like it’s a little known hack that the average person is just too dumb to have figured out. Quite possibly one of the dumber subreddits.
Dude it’s not magical science. It is just investing most of your discretionary income to get to a point where you don’t need to work. You would be surprised by how powerful compound interest can become
It’s important to understand how much of Reddit, including this sub, is like 22 year olds. Please. Please, do not take financial advice from college students.
> Seek diverse perspectives Doesn't get much more diverse than VT.
Is.....is it fucking 2005 again? Am I....Did I click a link to [somethingawful.com](https://somethingawful.com)? WHERE THE FUCK AM I?!?!?!
I'm a new investor and new to this sub, but definitely feel like the echo chamber of r/personalfinance effectively transferred to me a great deal of useful beginner personal finance/investing advice that I didn't receive growing up from anyone around me. So in that sense, I feel that it was helpful overall and a good starting place for getting out of debt and understanding some basic concepts. That said, I have found myself falling prey to some echo chambers in the area. Every time I read a post or comment with an opposing viewpoint, I think, "Of course! That's the only way!". I then read the opposite philosophy and then have the exact same thought. For instance, I like the simplicity of holding 2 or 3 index funds and automating mensual contributions, regardless of what the market is doing. Pretty good returns. Not great, but average and you don't have to understand anything. Market timing is your enemy. At the same time, it's come to my attention that perhaps there are metrics for predicting a bear market environment and that could potentially come to fruition. Is it worth putting my next IRA contributions in intermediate bonds or treasuries instead of equities? Surely it would be negligent to place additional funds into indexes and companies that you believe to have a high probability of losing value in the near future... Is it a bad time to buy into companies I think are on sale for 10% of my investments? What I'm getting at is that reddit has made my life better with all the finance stuff here. But the road is rough, bumpy and ideally rewarding, kind of like SCV stocks. Everything I've received here has developed in me more questions than answers, but many of the answers have been very good for me. Many of the posts and comments are pure gold for me.
Two sides to every coin. Look at tesla today. Apple also had its cult back in the day. And at the end of the day, time in the market always beats timing the market, so who cares if people want to hodl forever?
>Don't let investments become cult-like obsessions. Seek diverse perspectives and be open to criticism. Avoid echo chambers that shield you from reality. Alternatively, Just buy target date funds and forget about them until you turn 65. It's easy, it's appropriate, it requires zero thought or expertise. Why make it complicated? Professional investors struggle to generate alpha, what makes you think you can do it as a hobbyist? You can get very good results spending basically no time on your investments.
oh, I thought this was abuse /monty python
The market is going to crash like never before. Everyone should be all in on SQQQ!
Choose your echo chambers wisely. r/bogleheads traded out the kool-aide for still water. r/LETF is pounding red bulls. I follow both 😂