Great lessons, also fully support the Vanguard point as it has the lowest cost over manageable assets! Translating these lessons into reality show that the wealth industry has all ingredients in place for disruption...speed at which this will happen is too slow now, so likely will be accelerate by the Wealthfronts and Nutmegs of this world.
Any time you talk about money, you risk sounding like a jerk. I’m going to take that risk in this post. I’ll start out by talking about a couple ways I shot myself in the foot financially and what I learned as a result. Your mileage may vary. Before we start, you might want to review this financial advice from Scott Adams. 1. You are probably a bad stock picker 2. No one cares about your money as much as you do 3. Wall Street is not your friend 4. Think about working for equity vs. salary 5. If you’re investing, prefer index funds 6. Prefer credit unions over banks 7. Prefer Vanguard over almost anyone else