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What are some financial life-hacks everyone should know?
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this post was submitted on 23 Aug 2024
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Look up how cumulative interest works, then start investing in ETFs or index funds that follow MSCI World or S&P 500 for example. Then wait.
It's been 4 hours. What's supposed to happen?
Line go up
You're supposed to learn how to check back in a few decades instead of hours.
Your returns start producing their own returns and eventually it snowballs.
To add to this, also research ETF and mutual fund fees! Sooooo many are more than willing to charge a "small" 1% fee that will cost you thousands of dollars or more. Others are bold and charge even more. Look for fees in the 0.01% - 0.03% range for your trusty index and targeted retirement funds. Some even have 0%, though those harder to come by.