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boring index funds recommended

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#214with Ramit Sethi - Why You Should Have a Diversified Investment Portfolio1×#0SPECIAL: The Little Known World of FatFIRE1×

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Framework

Take chips off the table: founders who never invest in the market

Ramit says over half his founder friends never invest outside their own business, believing they'll always make more in it. He argues taking some money off the table into boring Vanguard index funds dramatically reduces risk, since few businesses survive 50 years.

“They go, "No, no, no, no, I can make more money in my own business." This is where my voice starts to tighten up and I bring out my hand as if I'm about to wring their neck. I go, "How many businesses do you know that are still around 50 years later?" And they go, "Well, not many." I go, "Do you think it would be good to maybe take a little off the table and put some in the market where you can get really good returns?"”

Steal thisMove a slice of business profits into low-cost index funds so your net worth isn't 100% tied to one company.

EP 214 · 42:51 · RAMIT SETHI
Read at 42:51
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Tactic

Skip the wealth advisor under $10M — DIY index funds

The subreddit's general sentiment, which Sam agrees with: if you're worth under $10M and aren't doing complicated estate moves, paying an advisor 1% is crazy. A young person can put 85-90% in a Vanguard total market fund and the rest in bonds/cash and be fine.

“I think you could be pretty aggressive and put 85 to 90% into a Vanguard total market fund and the rest in some general bonds and cash mix and not really work that hard at managing your money and not have a wealth advisor. And I think you'll be totally fine.”

Steal thisIf you're under ~$10M with simple finances, skip the 1% advisor — put 85-90% in a Vanguard total market fund and the rest in bonds/cash.

SPECIAL: The Little Known World of FatF… · Jul 2021 · 0:00 · SAM
Read at 0:00
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