Heya peeps,
So a quick one for a lazy Sunday ;)
I’m getting a lot of questions about what’s the “least effort, highest return” thing that I’ve done to get me to millionaire status... this was easy for me, and the best part, it’s not “least effort”, it was NO EFFORT!! Believe me, you’ll grow your cash to 100 000 with so little effort that you’ll be hugging yourself more than Michael Phelps is in this pic!
So here it is:
SET UP AN AUTOMATIC PAYMENT FROM YOUR SALARY BANK ACCOUNT TO YOUR SHARE TRADE ACCOUNT for $10/$100/$500/$1000 (depending on your current salary).
That’s it. No strings attached. Our worst enemy in the investing game is ourselves - we will always find a reason why saving $10 is IMPOSSIBLE, but let’s be honest, it’s not - it’s just our present-self is prioritizing the craft beers and pumpkin spice lattes over future self’s Europe holiday.
So let’s give future me a fighting chance, hell, let’s give her a bazooka! Take the option of spending that $10 away, because if it’s not in your check account, YOU CANT SPEND IT!!
That’s it. Simple right?
P.S. to make this really work for you, set up the automatic purchase order for the Vanguard 500 “share” in your share trade account the day after your money is transferred from your salary account. The share code is “VFINX” and every single stick broker will have it:)