Like many hear, I’m fortunate to be in a pretty good spot financially. I get a good salary, live modestly, and save a lot. However, I feel like I’m being an absolute idiot not investing this money better to let it grow. I have an absurd proportion right now even sitting around in a bank account 😳 Can anyone recommend good books or resources that they found helpful on smart financial planning? I definitely am looking for passive, long term strategies; no day trading, crypto, etc. TC 250
While you learn all about it, keep it all invested in S and P 500
P/E ratio is a good indicator
Psychology of money, Coffee can investing to start with. As a thumb rule, keep 6 months expenditure liquid and invest the rest in asset classes as per your risk tolerance.
Relatedly, any apps you all like or services you use to help you out? I’m so scared of doing something really dumb by accident
tbh, learning personal finance is a very long leaning journey. Just start with the resources above. Stay away from single stocks and derivatives unless you have invested hundreds of hours studying them. Invest in passive funds or index etfs is good to start with.
Boggle head and financial independence on reddit
This and they also have their own web site