Kevin88660
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A lot of times it didn’t matter.Totally agree with this.
One important point: Everyone should learn basic investing and practice it regularly.
Example: My aunt, who doesn't understand finance or investing, put several hundred thousand dollars of my grandmother’s life savings into a low-return income fund for OVER 8 YEARS. (3% before fees annually.)
Since my grandmother never needed the money, it sat untouched, missing out on $750,000+ in potential gains had it been invested in a broad US-based index fund. (Where it is now, by the way.)
My aunt didn't understand finance or investing. She didn’t realize fees matter. She thought stocks were risky. She saw something that sounded good, clicked a few times, and forgot about it.
Buffet would call this an "error by omission" - it's invisible to my aunt and grandmother. There is no write-off for the losses. It's just $750k that my grandmother doesn't have for end-of-life care due to poor financial management.
So, while @Spenny is correct that investing small amounts won't generate Fastlane wealth, it CAN get you the reps you need to make good financial decisions that DO generate large sums of money.
Take the time to understand interest rates, why index funds can be advantageous, how fees work, inflation, time value of money, etc.
It will literally pay dividends down the road.
In life you either make it or you don’t.
There are old school business people who have 8 figures sitting in the bank. One such dude runs a factory making toys.
His banker advised him to get into high returns he called everything else a scam and only trust fixed deposits.
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