In this PPhREI Network roundup post, we discuss the minimalist guide to investing and financial success.
This post may contain affiliate links.
Today’s theme is simple investing. Below, we’ve got a two step guide and a slightly more complex model for investing success. Take a look!
The Prudent Plastic Surgeon
In this post, Dr. Frey gives us his take on the “bare minimum” knowledge required for investing success. He breaks it down into two very simple concepts:
- Create a margin
- Invest the margin
To explain, you basically need to spend less than you earn so you have a “margin” of money left over every month. Then, you just need to invest the margin into an index fund like the S&P 500. That’s it!
Read the entire post on the Prudent Plastic Surgeon blog: What is the Bare Minimum Financial Knowledge that a Physician Needs?
The Darwinian Doctor
In this post, I give my own take on a simple guide to financial success. In the post, I have the same approach to Dr. Frey, except I refer to “the margin” as “the gap”. Simply put, you need to grow a gap between your income and your spending. Then, you need to invest that money regularly into an index fund like VTSAX or VTI.
I go into a bit more details about how to grow the gap. For example, it’s helpful to map out your income and expenses, have an emergency fund, and pay off your high interest debt. But I admit it, these might be complicating the simple message to grow your “gap” and invest it!
Read the entire post on the Darwinian Doctor blog: How to Save, Invest, and Become Rich
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