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Walter White Walker
Member
(02-03-2017, 06:32 PM)
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Originally Posted by Mathaou

Okay. So I may have sounded like I was gloating. I apologize for that. Instead of me asking, here's me telling:

  1. The stock market is your friend. Invest any spare money you have into it and you'll be set.
  2. If you're afraid to take risks, just choose index funds. Those are a very smart bet.
  3. If you like to take risks and you have money that you don't necessarily need then put that into riskier stocks (ONLY AFTER COPIOUS AMOUNTS OF RESEARCH HAVE BEEN DONE))
  4. Obviously it isn't for everyone. If you can't afford it that's fine. I'm saying that if you can go for it. I'm not trying to make anyone feel bad.
  5. If you can live below your means. I'm fairly lucky in that I live in a place where real estate is inexpensive. I also cook for myself and don't spend money that often aside from bills and the occasional large purchase or food.

Many people, whether by choice or necessity, live at or beyond their means is why a lot of people don't invest.
For the individual investor most of us invest in index funds not because we're "afraid" of investing in individual stocks but because it's generally not a good idea at all to do so because shit like this happens - http://www.investopedia.com/updates/...andal-summary/. Diversity is your friend.
Last edited by Walter White Walker; 02-03-2017 at 06:47 PM.
backslashbunny
Member
(02-03-2017, 06:32 PM)
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Originally Posted by Keri

You'd be better off paying off your student loans (or not taking them out in the first place, if possible). The interest you save is guaranteed and will probably be equal to or more than what you make in the stock market. Also, stocks are only "stable" long term. There's probably going to be big drops sometime soon-ish.

Seriously.

Unless the loans are interest free or like REALLY low (~1.2%), and you're betting that your investments will do better in the long run, it's better to not have loans.
Aphexian
Junior Member
(02-03-2017, 06:32 PM)

Originally Posted by Mathaou

Okay. So I may have sounded like I was gloating. I apologize for that. Instead of me asking, here's me telling:

  1. The stock market is your friend. Invest any spare money you have into it and you'll be set.
  2. If you're afraid to take risks, just choose index funds. Those are a very smart bet.
  3. If you like to take risks and you have money that you don't necessarily need then put that into riskier stocks (ONLY AFTER COPIOUS AMOUNTS OF RESEARCH HAVE BEEN DONE))
  4. Obviously it isn't for everyone. If you can't afford it that's fine. I'm saying that if you can go for it. I'm not trying to make anyone feel bad.
  5. If you can live below your means. I'm fairly lucky in that I live in a place where real estate is inexpensive. I also cook for myself and don't spend money that often aside from bills and the occasional large purchase or food.

you need to edit it into your OP or no one will see it and you'll still get comments based on what is in the OP.
Phobophile
A scientist and gentleman in the manner of Batman.
(02-03-2017, 06:33 PM)
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American society has conflicting cultural ideologies. We're both very consumerist and material, trying to keep up with the Joneses, but also with Calvinistic Protestant values. So people have the expectation to not only buy shit and be austere. It really doesn't work out. So the people who end up saving money are really those who can afford it, which ends up being a status symbol onto itself--just look at the number of people who can save money and are condescending and scoff at those who do not.
Mathaou
legacy of cane
(02-03-2017, 06:33 PM)
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Originally Posted by Mr. Blonde

lmao. my thoughts exactly.

"why dont people who are poor just ask their parents for money?"

Because you know precisely what my family situation is and how they're paying for the remaining 2k of my tuition. Fuck all of you for assuming I was well off. I have 16k of that shit covered. Tuition costs are going down next year because I'm living off campus. I don't want to burden my parents but they wanted to ensure I had a future.
Kambing
Member
(02-03-2017, 06:33 PM)
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Edit: missed the part about your loans, definitely pay that off as soon as you can
Last edited by Kambing; 02-03-2017 at 06:36 PM.
Mr. Blonde
Member
(02-03-2017, 06:35 PM)

Originally Posted by Mathaou

Okay. So I may have sounded like I was gloating. I apologize for that. Instead of me asking, here's me telling:

  1. The stock market is your friend. Invest any spare money you have into it and you'll be set.

Kids say the darndest things..
Snowybreak
Member
(02-03-2017, 06:35 PM)
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Look man. A lot of people get paid shit in this day and age. I have a respectable degree and a massive set of skills that I have worked to obtain. But due to circumstances I work a couple jobs every single day and have little time to chart out an investment portfolio or enough money to make it work for me. So I put a few bucks into a savings account with each paycheck and try to live life on what I've got. It's just not worth it at the moment for me to invest. I mean fuck, if I wanted to build a proper emergency safety net it would take three years. So I use small amounts of money on intoxicants to help quell the depression and extreme anxiety that this world causes.
Morts
Member
(02-03-2017, 06:35 PM)
It's scary.
Don't know how.
It can feel like gambling to some people.
Afraid their emergency savings won't be enough.
Trump.
Large minimum investment on some mutual funds.
'Oh shit that stock was a lot cheaper a month ago maybe it'll go down again.'


Lots of reasons.
Fuchsdh
Member
(02-03-2017, 06:36 PM)
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Originally Posted by gutter_trash

pretty much this

Not really. Saving habits are terrible across the board, lack of income really has no major bearing on it. If you want to save, you find a way to do it.
Mr. Blonde
Member
(02-03-2017, 06:36 PM)

Originally Posted by Mathaou

Because you know precisely what my family situation is and how they're paying for the remaining 2k of my tuition. Fuck all of you for assuming I was well off. I have 16k of that shit covered. Tuition costs are going down next year because I'm living off campus. I don't want to burden my parents but they wanted to ensure I had a future.

I wasn't assuming anything. You said in your OP you have extra money in part because of your parents.
ahoyhoy
Member
(02-03-2017, 06:37 PM)
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Originally Posted by Morts

It's scary.
Don't know how.
It can feel like gambling to some people.
Afraid their emergency savings won't be enough.
Trump.
Large minimum investment on some mutual funds.
'Oh shit that stock was a lot cheaper a month ago maybe it'll go down again.'


Lots of reasons.

Basically all of these things apply to me.

Plus I'm saving up for a down payment on a house.
Emerson
Banned
(02-03-2017, 06:39 PM)
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Originally Posted by Hoo-doo

No but seriously, let's say I have 5K to invest right now, which is true. I could.

Where would I even invest it in? I have absolutely 0.0 knowledge of the stock market or investing in general. Am I likely to just piss away that cash because I don't know what i'm doing?

It always felt like a gamble to me, and not the get-rich-quick scheme you make it sound like.

If you are not knowledgeable about investing and are risk-averse, put it into index funds or ETFs. It is (relatively) safe and will pay off long term.
Mathaou
legacy of cane
(02-03-2017, 06:40 PM)
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Originally Posted by Mr. Blonde

I wasn't assuming anything. You said in your OP you have extra money in part because of your parents.

Because they're covering the remaining 2k. So I don't have to put any of the money that I make towards that and I'm not going to bother with paying back loans for at least another year.
tokkun
Member
(02-03-2017, 06:41 PM)
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Originally Posted by Hollywood Duo

They don't have expendable income thats why.

Oh right, I guess that explains why Apple sells zero iPhones per year.
Mr. Blonde
Member
(02-03-2017, 06:41 PM)
2k is a lot of money to a lot of people, you do know that right?

Also, fwiw, the fact is that the S&P500 is at an all-time high which means if you buy right now you're literally doing the opposite of "buying low and selling high" and it's misleading to say the S&P regularly returns 10%. For example, if you invested on Dec 31 1999, and sold on Dec 31 2009, you would have been down 20%. You're 19. TWICE in your life already there have been major market crashes.

And, having worked in various "high-finance" firms, I can say with certainty that you are at an extreme disadvantage against professional investors. The market is not a good place for amateurs to make punts. Spending a couple hundred dollars on one or two stocks is literally one rung above betting on horses. The things you mentioned on Netflix in particular are well-known by everybody and already factored into the demand for the stock.
Last edited by Mr. Blonde; 02-03-2017 at 06:54 PM.
Mathaou
legacy of cane
(02-03-2017, 06:41 PM)
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Originally Posted by tokkun

Oh right, I guess that explains why Apple sells zero iPhones per year.

Mathaou
legacy of cane
(02-03-2017, 06:42 PM)
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Originally Posted by Mr. Blonde

2k is a lot of money to a lot of people, you do know that right?

Oh I'm very aware. I would very much like to go back to informing those who HAVE THE CAPABILITES TO about how to invest smartly with this neat app that makes it easy.
Linkura
Member
(02-03-2017, 06:42 PM)
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We max out our Roth IRAs and my husband puts in his 401(k) up to the full match at work (not available at my job). We want to have a liquid savings cushion, so we got a fair bit sitting in savings. Once we add a bit more into there, we might start investing in index funds. But I don't trust Trump not to ruin the market, and wiping out more than our retirement funds may be a bit too much risk for me to handle (we're very risk averse- instead of putting excess funds into investments, we paid off our mortgage because it was a safe bet).
King_Moc
Member
(02-03-2017, 06:43 PM)
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It's because they want to have a life. This is only a reasonable proposition for people that have a lot of expendable income, not just some.
Mathaou
legacy of cane
(02-03-2017, 06:44 PM)
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Originally Posted by Linkura

We max out our Roth IRAs and my husband puts in his 401(k) up to the full match at work (not available at my job). We want to have a liquid savings cushion, so we got a fair bit sitting in savings. Once we add a bit more into there, we might start investing in index funds. But I don't trust Trump not to ruin the market, and wiping out more than our retirement funds may be a bit too much risk for me to handle (we're very risk averse- instead of putting excess funds into investments, we paid off our mortgage because it was a safe bet).

At least for his first 100 days the stock market will probably do very well for itself. American based companies are seeing growth.
Linkura
Member
(02-03-2017, 06:46 PM)
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Originally Posted by Mathaou

At least for his first 100 days the stock market will probably do very well for itself. American based companies are seeing growth.

It's going to be shit soon enough... though with it being so low, it might be a good time to buy?
Mathaou
legacy of cane
(02-03-2017, 06:47 PM)
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Originally Posted by Linkura

It's going to be shit soon enough... though with it being so low, it might be a good time to buy?

This is my point. With bad times coming people will turn to Netflix. I'm like a war profiteer but with entertainment.
Poppy
Member
(02-03-2017, 06:47 PM)
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Originally Posted by Snowybreak

Look man. A lot of people get paid shit in this day and age. I have a respectable degree and a massive set of skills that I have worked to obtain. But due to circumstances I work a couple jobs every single day and have little time to chart out an investment portfolio or enough money to make it work for me. So I put a few bucks into a savings account with each paycheck and try to live life on what I've got. It's just not worth it at the moment for me to invest. I mean fuck, if I wanted to build a proper emergency safety net it would take three years. So I use small amounts of money on intoxicants to help quell the depression and extreme anxiety that this world causes.

this too. i may not be saving up to accomplish some kind of dream, but at least i have a constant supply of blue dream to make up for it
Sectorseven
Member
(02-03-2017, 06:48 PM)
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Originally Posted by Mathaou

Okay. So I may have sounded like I was gloating. I apologize for that. Instead of me asking, here's me telling:
[LIST=1][*]The stock market is your friend.

The stock market is a fickle bitch. Certainly you can make money if you're disciplined, but money management and loss control are key to all investments.
Bread
Whole Wheat
(02-03-2017, 06:49 PM)
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Originally Posted by Mathaou

This is my point. With bad times coming people will turn to Netflix. I'm like a war profiteer but with entertainment.

LMAO
CoolOff
Member
(02-03-2017, 06:50 PM)
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Originally Posted by Hoo-doo

No but seriously, let's say I have 5K to invest right now, which is true. I could.

Where would I even invest it in? I have absolutely 0.0 knowledge of the stock market or investing in general. Am I likely to just piss away that cash because I don't know what i'm doing?

It always felt like a gamble to me, and not the get-rich-quick scheme you make it sound like.

Depends on the time-horizon for when you want to access it for consumption. If it's 5+ years, stick it in a broad index fund with as low a fee as possible (I'd say anything over 0.4% is robbery), and you should average a yearly return over time of about 9-10%.

If you like to take risks and you have money that you don't necessarily need then put that into riskier stocks (ONLY AFTER COPIOUS AMOUNTS OF RESEARCH HAVE BEEN DONE))

This is bad advice.
Mitch
Member
(02-03-2017, 06:51 PM)
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I make $14 an hour and drink a lot
johancruijff
Member
(02-03-2017, 06:51 PM)
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But how much robinhood is paying you for this?
AlucardGV
Member
(02-03-2017, 06:51 PM)
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i invest, but in really low risk things. just to not have them on the bank account where they'll do nothing
Snowybreak
Member
(02-03-2017, 06:52 PM)
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Originally Posted by Poppy

this too. i may not be saving up to accomplish some kind of dream, but at least i have a constant supply of blue dream to make up for it

I like to say it like this. My liver can be repaired, my lungs can be repaired. But how do you repair suicide?

I drink and smoke in moderation. Sometimes I go overboard, but the flipside without those crutches would be depression so bad that I wouldn't be able to function.
ssolitare
Member
(02-03-2017, 06:52 PM)
OP do your parents invest? Did they teach you about investing?
Glix
Member
(02-03-2017, 06:53 PM)
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Put it in a slot machine!

Its the same idea but you don't have to wait years to see if your investment panned out!

(this is not a real post)
Keri
Member
(02-03-2017, 06:53 PM)
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Originally Posted by Mr. Blonde

Also, fwiw, the fact is that the S&P500 is at an all-time high which means if you buy right now you're literally doing the opposite of "buying low and selling high" and it's misleading to say the S&P regularly returns 10%. For example, if you invested on Dec 31 1999, and sold on Dec 31 2009, you would have been down 20%. And, having worked in various "high-finance" firms, I can say with certainty that you are at an extreme disadvantage against professional investors. The market is not a good place for amateurs to make punts. Spending a couple hundred dollars on one or two stocks is literally one rung above betting on horses. The things you mentioned on Netflix in particular are well-known by everybody and already factored into the demand for the stock.

This is why I'm not investing right now and, instead, focusing on aggressively paying down student loans. Everything I've read says the market is over inflated and due for a large drop. People were saying this even before Trump won the election and the threat of trade wars emerged. Seems much better to go for the sure-thing of saving interest on loans, then gambling with the market now.
Sephzilla
Member
(02-03-2017, 06:54 PM)
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Because I don't want to invest my money in the stock market, especially right now with a Trump presidency and republican lead government (the last time the latter happened the Great Depression was the result).

And, on a more personal level, and perhaps this is me being too over protective, I prefer being in direct control over my own money and what happens to it.
Last edited by Sephzilla; 02-03-2017 at 06:59 PM.
Mathaou
legacy of cane
(02-03-2017, 06:56 PM)
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Originally Posted by johancruijff

But how much robinhood is paying you for this?

Nothing. I'm just a fan.

Originally Posted by ssolitare

OP do your parents invest? Did they teach you about investing?

No they are very financially irresponsible. They were moreso an example of what not to do. I used my uncle as a mentor for this kind of thing. He's an accountant.
Mr. Blonde
Member
(02-03-2017, 06:57 PM)

Originally Posted by Mathaou

Oh I'm very aware. I would very much like to go back to informing those who HAVE THE CAPABILITES TO about how to invest smartly with this neat app that makes it easy.

That's nice. Buying one or two stocks for $100 each isn't really that great of an investment though, especially if you have debt to pay off.

If you're young and have a couple hundred extra bucks, either pay off debt or invest in YOURSELF. Spend that $100 learning how to master the lsat or mcat, or on an interview coach. Something that will make your skillset more valuable.
Last edited by Mr. Blonde; 02-03-2017 at 07:08 PM.
Colin.
Member
(02-03-2017, 06:57 PM)
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Because most don't have a lot of expendable income to play with and/or have any interest in gambling that could either take a long time to pay out, or go completely tits up and leave you with a significant loss.
Poppy
Member
(02-03-2017, 06:59 PM)
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Originally Posted by Snowybreak

I like to say it like this. My liver can be repaired, my lungs can be repaired. But how do you repair suicide?

I drink and smoke in moderation. Sometimes I go overboard, but the flipside without those crutches would be depression so bad that I wouldn't be able to function.

well hopefully you have considered therapy or medication as well, not to backseat psychologize or anything (especially because its kinda hypocritical of myself to suggest)

i can relate to what you are saying but i generally can deal with the constant depression and anxiety and loneliness without a lot of suicidal ideation because its just kind of what most of my life has been about, the dailyish weed just lets me relax enough to at least want to play a game or something so i dont spend all my time languishing in ennui. but it seems like you are dealing with more than i am!
Mathaou
legacy of cane
(02-03-2017, 06:59 PM)
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Originally Posted by Mr. Blonde

That's nice. Buying one or two stocks for $100 each isn't really that great of an investment though, especially if you have debt to pay off.

I'm slowly building that portfolio. Long haul, brah.
Servbot24
Member
(02-03-2017, 07:00 PM)
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I put 10% of my income in 401k. I would invest in other things as well, but just for my own peace of mind I really want to pay off my student loans first.
Spork4000
Member
(02-03-2017, 07:00 PM)
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People like having stuff/don't have expansible income.
Forerunner
Member
(02-03-2017, 07:00 PM)
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The majority of Americans are living paycheck to paycheck with a large amount of debt. So they don’t really have any to spare on investments. However, most people don’t even know where to begin when it comes to investing. Also a lot of people are just bad with their money (poor choices, not saving, and etc.)
GreenMonkey
Member
(02-03-2017, 07:01 PM)
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Originally Posted by Trey

There are several factors.

Firstly, your reality of "expendable money" isn't the same as most or even many people. Once you cover your rent and food, you consider everything beyond that as "play money." But people have kids, other bills besides rent and food, car and house maintenance to consider, and a bunch of other stressors aside from incidentals. That "play money" goes quick.

Two, humans are wired for instant gratification. We're really, really bad with the long game, generally speaking. This behavior crops up in many ways, but in this one, it's especially pernicious.

Doing well these days, but there were a lot of years before that we really struggled.

There's always something backlogged. My car could use a transmission flush, a radiator flush, and probably some new plugs/wires at this point. I should start eyeballing tires and brakes again too, they'll be coming up soon enough.

My oldest daughter is gonna need braces this year, that'll be godly expensive.

If it isn't that, it is a new backpack because theirs finally broke, or shoes or clothes since they grow out of them so fast, or the school trip you need to find, etc, etc, etc.


If it isn't those, there's backlogged credit card debt to pay from the previous years (that's in my plans for my bonus this year - I'd love to be responsible this year).

But to point 2 - the wife is gunning for a trip to Disney with the kids. I argued for paying debt, she said the kids are only getting older and if we keep waiting they'll be too old to really enjoy it (there is some point to that). Last trip we had was like 2-3 years ago, she argued we hadn't taken a real vacation since the kids were born. Which was true, it had been almost a decade since we did more than a quick weekend somewhere within driving distance.

You only live once. Need to balance it out.

Even if I did have money after all this stuff, it would go to my 401k first or student loans.

I'm pushing up towards 40 (shudder) and I've never invested in a stock. Don't know many people into it either.
Last edited by GreenMonkey; 02-03-2017 at 07:03 PM.
Ucchedavāda
Member
(02-03-2017, 07:01 PM)
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Originally Posted by Mathaou

This is my point. With bad times coming people will turn to Netflix. I'm like a war profiteer but with entertainment.

Have you considered the possible effects of the Trump administration's position on net neutrality and what it could mean for companies like NetFlix?
xxracerxx
Member
(02-03-2017, 07:03 PM)
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Ahh to be 19 and think you have it all figured out.
Snowybreak
Member
(02-03-2017, 07:03 PM)
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Originally Posted by Poppy

well hopefully you have considered therapy or medication as well, not to backseat psychologize or anything (especially because its kinda hypocritical of myself to suggest)

i can relate to what you are saying but i generally can deal with the constant depression and anxiety and loneliness without a lot of suicidal ideation because its just kind of what most of my life has been about, the dailyish weed just lets me relax enough to at least want to play a game or something so i dont spend all my time languishing in ennui. but it seems like you are dealing with more than i am!

I can't go to a therapist yet. I'm hoping I get approved for Medicare, then I'll be going weekly. And you know what the worst part is? There aren't any antidepressants I can take. They all increase suicidal thoughts with me. But pot works most of the time, so do mushrooms.
Mathaou
legacy of cane
(02-03-2017, 07:03 PM)
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Originally Posted by Ucchedavāda

Have you considered the possible effects of the Trump administration's position on net neutrality and what it could mean for companies like NetFlix?

Anything that would severely impact my stocks would be seen waaaay ahead of time with enough time to sell so I'm fine.
family_guy
Member
(02-03-2017, 07:05 PM)
I'm investing in traveling more.
Mr. X
Member
(02-03-2017, 07:06 PM)
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I have $500 in an IRA that I haven't found a index fund to put in tbh. It's confusing if you don't have a glossary of terms.

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