Dollar-cost averaging—you may have heard the term before, but maybe not its implications. According to Nick Maggiulli, it’s probably the easiest way to get rich with stocks, real estate, or really anything else. But what about buying the dip? Wouldn’t investing at historic lows be the wisest move to make when the markets take a tumble? Surprisingly, no! Don’t believe us? Listen on!
Nick’s investing theory is simple. But, the math backs it up. Doing less will make you more money—much more money. In his book, Just Keep Buying, Nick lays down the time-tested, proven ways to build wealth without being an expert day trader, cryptocurrency coder, or stressed-out landlord. This simple system of investing will allow you to build an almost unspendable nest egg without being glued to the market charts and graphs all day long.
But maybe stocks aren’t your thing. Maybe you're chasing hundred-millionaire status? Don’t worry, Nick also gives his take on achieving monumental money goals without following the same path as everyone else. No matter where you’re at in life, this is an investing lesson worth learning as early as possible!
In This Episode We Cover
Dollar-cost averaging vs. buying the dip and which will make you more in the long run
How to invest with a falling stock market, high interest rates, and higher bond yields
Individual stocks vs. index funds and who should pick which type of investment
Cryptocurrency, NFTs, and investing in alternative assets
The downside of diversification and why it won’t help you build a big portfolio
Why even billionaires don’t feel like they’re rich enough
And So Much More!
Links from the Show
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Are FIRE Naysayers Bad at Math? Yes. with Michael Kitces
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-347
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