Thrifty Millionaire

Ecclesiastes 2:24 "There is nothing better for a man than to eat and drink and tell himself that his labor is good. This also I have seen that it is from the hand of God." Solomon was given supernatural wisdom by God. In 2 paragraphs (below) he summarizes investing as good as any investment firm today. This the only investment advice the Bible gives. As such it a command. It's a matter of faith and following Gods advice through Soloman. This makes it easy for the average investor to save well over their lifetime.  In Ecclesiastes 11:1-6 Soloman says: Cast your bread upon the waters (send your grain a cross the sea aka keep investing), for you will find it again after many days (retirement). Divide your portion among seven, or even eight (limited diversification), for you do not know what disaster may come upon the land (bear market). If clouds are full of rain, they empty themselves upon the earth (don't look for a signs); and whether a tree falls to the s...

As far as career choices if I had a do-over today I'd go here for free. I'd do a 4-year nursing degree with no loans. I'd work at Branson's hospital night unit (study at work) for $40/hr while doing an online 2-year nurse practitioner degree. You'll be out in 6 years making $200k with no debt. I'd start saving then by maximally contributing to my 401(k) Roth in the S&P 500 (e.g., FZROX). I might retire by 39 years old. I'd travel the country in an RV while doing telemedicine. A nurse practitioner degree is civilized. Being a doctor is, as they say in the south, "like a knife fight in a ditch."

Solomon was the greatest investor to have lived due to the wisdom God gave him. Ecclesiastes 11:1-6 offers some wise advice on investing: "Cast your bread upon the waters, for you will find it after many days. Give a portion to seven, or even to eight, for you know not what disaster may befall the land. If clouds are full of rain, they empty themselves on the earth; and if a tree falls to the south or to the north, in the place where the tree falls, there it will lie. Whoever observes the wind will not sow; and whoever looks at the clouds will not reap. As you do not know the way the wind blows or how the bones grow in the womb of a pregnant woman, so you do not know the work of God who makes everything. Sow your seed in the morning, and do not let your hands be idle in the evening, for you do not know which will succeed, whether this or that, or whether both will prove to be good." This passage encourages us to diversify our investments and to keep investing even when we don...

90 year return S&P 500 Only a small percentage of financial advisors beat the S&P 500 over the long term. According to CNBC in 2020 S&P only 10% of large-cap equity fund managers outperformed the S&P 500 over a 20-year period. There are a few reasons why it is so difficult for financial advisors to beat the market. First, the market is very efficient, meaning that it is difficult to find undervalued assets. Second, financial advisors have to pay trading costs and other fees, which can eat into their returns. Third, financial advisors are often under pressure from their clients to generate short-term returns, which can lead them to make risky investments.  Lastly and most important financial advisors charge 1-2% yearly. In 20 years this equals 20-40% of your assets. It is important to remember that even the best financial advisors will not be able to beat the market every year. For most investors, it is best to invest in a low-cost index fund that tracks ...