Dave Ramsey : The quickest right way to become a millionaire .... - Printable Version
+- SG Talk (https://sgtalk.net)
+-- Forum: SG Talk (https://sgtalk.net/Forum-SG-Talk)
+--- Forum: Market Talk (https://sgtalk.net/Forum-Market-Talk)
+--- Thread: Dave Ramsey : The quickest right way to become a millionaire .... (/Thread-Dave-Ramsey-The-quickest-right-way-to-become-a-millionaire)
+- SG Talk (https://sgtalk.net)
+-- Forum: SG Talk (https://sgtalk.net/Forum-SG-Talk)
+--- Forum: Market Talk (https://sgtalk.net/Forum-Market-Talk)
+--- Thread: Dave Ramsey : The quickest right way to become a millionaire .... (/Thread-Dave-Ramsey-The-quickest-right-way-to-become-a-millionaire)
Dave Ramsey : The quickest right way to become a millionaire .... - sgbuffett - 12-08-2022
Data from hundreds of American families.
The quickest, right way to become a millionaire is to consistently invest over a long period of time. It’s not shocking or flashy, but it works. Don’t get distracted by market swings, trendy stocks or get-rich-quick schemes.
https://finance.yahoo.com/news/dave-ramsey-quickest-way-become-190044002.html
RE: Dave Ramsey : The quickest right way to become a millionaire .... - sgbuffett - 12-08-2022
The advise is simple but not easy
The normal human being tends to scare himself and others in a market downturn...either give up investing or sell everything.
RE: Dave Ramsey : The quickest right way to become a millionaire .... - WhatDoYouThink? - 12-08-2022
if invest only for the long term, how to survive without other sources of income?
RE: Dave Ramsey : The quickest right way to become a millionaire .... - watchfirst9 - 12-08-2022
Sg is different from America,
we do not enjoy huge land resources, population size advantage.
USD also enjoy being the leader of currency.
Americans can purse other than wealth for happiness.
RE: Dave Ramsey : The quickest right way to become a millionaire .... - SgWinner - 12-08-2022
Invest in S&P index and wait for compounding effect ?
RE: Dave Ramsey : The quickest right way to become a millionaire .... - p1acebo - 12-08-2022
What happened to your earlier idol and master Loo Loo and his handbags?
RE: Dave Ramsey : The quickest right way to become a millionaire .... - Alice Alicia - 12-08-2022
Easier said than done.
RE: Dave Ramsey : The quickest right way to become a millionaire .... - sgbuffett - 12-08-2022
(12-08-2022, 07:59 AM)p1acebo Wrote: What happened to your earlier idol and master Loo Loo and his handbags?
Why you so worried about Mr. Loo.
He kept investing consistently even as S&Pwent down.
He is millionaire many times over already....he is amliming for 10M mark.
RE: Dave Ramsey : The quickest right way to become a millionaire .... - p1acebo - 12-08-2022
(12-08-2022, 08:12 AM)sgbuffett Wrote: Why you so worried about Mr. Loo.
He kept investing consistently even as S&Pwent down.
He is millionaire many times over already....he is amliming for 10M mark.
I am not worried about him. He has many handbags to survive. I am more worried about you. Cos you keep changing masters and idols every now and then
RE: Dave Ramsey : The quickest right way to become a millionaire .... - Huliwang - 12-08-2022
Typical horse back cannon.......
RE: Dave Ramsey : The quickest right way to become a millionaire .... - Huliwang - 12-08-2022
Seriously how many people can hold back and not offload if your investment already made $30K or more from your initial investment when facing such a crash?.....
RE: Dave Ramsey : The quickest right way to become a millionaire .... - sgbuffett - 12-08-2022
(12-08-2022, 08:33 AM)Huliwang Wrote: Seriously how many people can hold back and not offload if your investment already made $30K or more from your initial investment when facing such a crash?.....
Hi that is why the advice is simple but not easy to follow.
The best thing I heard from FIRE people is not to look at it once you put in because losses and gain can affect you emotionally and most cannot control their emotions.
RE: Dave Ramsey : The quickest right way to become a millionaire .... - Huliwang - 12-08-2022
(12-08-2022, 08:45 AM)sgbuffett Wrote: Hi that is why the advice is simple but not easy to follow.So basically it is letting all the profits gain so far be wiped off by not looking during a market crash and let them restart rolling from scratch again.
The best thing I heard from FIRE people is not to look at it once you put in because losses and gain can affect you emotionally and most cannot control their emotions.
Another expert will say why not take the profit gain so far by offloading (instead of wasting it by not looking) then buy back again after the crash and let them roll from scratch again......
RE: Dave Ramsey : The quickest right way to become a millionaire .... - Sharexchange - 12-08-2022
Rubbish not true this that is long way. Quickest way is to do business.
RE: Dave Ramsey : The quickest right way to become a millionaire .... - Huliwang - 12-08-2022
(12-08-2022, 09:10 AM)Sharexchange Wrote: Rubbish not true this that is long way. Quickest way is to do business.
Another rubbish lah. Quickest is rob a bank or scam like your buddy Pi then go hide in Cambodia......
RE: Dave Ramsey : The quickest right way to become a millionaire .... - Sharexchange - 12-08-2022
(12-08-2022, 09:12 AM)Huliwang Wrote: Another rubbish lah. Quickest is rob a bank or scam like your buddy Pi then go hide in Cambodia......
Its hard to rob 1 million nowadays. Scam is a illegal. We must have integrity.
RE: Dave Ramsey : The quickest right way to become a millionaire .... - theold - 12-08-2022
(12-08-2022, 06:30 AM)sgbuffett Wrote: Data from hundreds of American families.
The quickest, right way to become a millionaire is to consistently invest over a long period of time. It’s not shocking or flashy, but it works. Don’t get distracted by market swings, trendy stocks or get-rich-quick schemes.
https://finance.yahoo.com/news/dave-ramsey-quickest-way-become-190044002.html
US and Singapore are different. In US, you just need to connect the waterpipe to the shares. They will pay dividend consistently. But for foreigners, there is a tax of around 30% when you received it. Also you will lost some money on currency exchanges. If you invest in Sg, the dividend is miserable. Some even ask you to top up more cash like those REITs while they boast about the increase in portfolios.
RE: Dave Ramsey : The quickest right way to become a millionaire .... - sgbuffett - 12-08-2022
(12-08-2022, 09:07 AM)Huliwang Wrote: So basically it is letting all the profits gain so far be wiped off by not looking during a market crash and let them restart rolling from scratch again.
Another expert will say why not take the profit gain so far by offloading (instead of wasting it by not looking) then buy back again after the crash and let them roll from scratch again......
If one can predict crash accurately to take profit..then cN also short to make a fortune.
If you are not top expert you probably cannot do it well.
So ordinary investors should not try to time.
While the market crash many times only one time, it undo 10yr of investing during financial crisis if you time perfectly....most of the time it only correct tk 6 months to 15mknths low so all your knvestment before that makes money.
The simple advice given takes into consideration many scenarios....one just need to follow and don't act smart.