Announcement

Collapse
No announcement yet.

Discuss Latest WCI Blog Post: Best Practices in Investing — How to Make Your Money Grow

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Discuss Latest WCI Blog Post: Best Practices in Investing — How to Make Your Money Grow

    What's the best way to invest? How much should you save? Do you need a written plan? Here are some of the best ways to grow your wealth.

    The post Best Practices in Investing — How to Make Your Money Grow appeared first on The White Coat Investor - Investing & Personal Finance for Doctors.



    Click here to view the article!
    Helping those who wear the white coat get a fair shake on Wall Street since 2011

  • #2
    I really like the point about becoming an expert in your employers retirement plans. Some are relatively simple (e.g., 401k, no match) but some are very complex and offer many decision points (e.g., Roth or not, add the annuity or not, after tax contributions too, nongovernmental 457b or not, etc.). Usually there are only one or two pension experts in the compensation team. They are a good resource, but it is up to the employee to really figure all of this out.

    Comment


    • #3
      Thanks Jim. Timely for me as I tend to think I should pick stocks which actually worked out ok and reinforces my delusion and have panic sold when the market was strong but naturally got stronger. While I'm slow to jump on the latest, greatest bandwagon like crypto but there is FOMO in the background noise in my head. I'm going to email this to myself:

      "By their very nature, people are disposed to make all kinds of behavioral errors that lead to poor investment returns. These include trying to time the market, panic-selling at market bottoms, picking individual stocks, and chasing performance with the latest hot asset class, whether it be tech stocks, gold, or Bitcoin. Staying the course with your reasonable long-term plan is actually far more important—and perhaps far more difficult—than coming up with the plan in the first place."

      Comment


      • #4
        the good news is I heard today on NPR that Fidelity of all places is now allowing investors to invest in crypto within their own retirement plans. Your employer needs to allow that option though. I'm not sure if it's better to buy crypto or an annuity within a 401k

        https://www.cnn.com/2022/04/26/succe...01k/index.html
        Last edited by JBME; 04-26-2022, 01:53 PM.

        Comment

        Working...
        X