Financial Independence
Financial literacy isn't just about making money—it's about understanding how money works, making informed decisions, and building long-term wealth that provides freedom and security.
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Key economic metrics for major economies
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Investment Strategies
Long-Term Investing
- Index Fund Investing
- Buy & Hold Strategy
- Dollar-Cost Averaging
- Dividend Growth Investing
Portfolio Management
- Asset Allocation
- Diversification
- Rebalancing
- Tax-Loss Harvesting
Key Principles
Investment Philosophy
- Time in the Market: Beats timing the market
- Compound Interest: The eighth wonder of the world
- Low Fees Matter: Every percentage point counts over decades
- Diversification: Don't put all eggs in one basket
- Stay the Course: Don't panic during market downturns
- Invest in Knowledge: Understanding beats speculation
Essential Reading
Classic Books
- "The Intelligent Investor" - Benjamin Graham
- "A Random Walk Down Wall Street" - Burton Malkiel
- "Common Stocks and Uncommon Profits" - Philip Fisher
- "The Little Book of Common Sense Investing" - John Bogle
Modern Perspectives
- "The Simple Path to Wealth" - JL Collins
- "Your Money or Your Life" - Vicki Robin
- "I Will Teach You to Be Rich" - Ramit Sethi
- "The Psychology of Money" - Morgan Housel
- "The Balanced Scorecard" - Robert Kaplan & David Norton
- "The Goal" - Eliyahu Goldratt
- "The Great Game of Business" - Jack Stack
Investment Vehicles
Tax-Advantaged Accounts
- 401(k) / 403(b)
- Traditional IRA
- Roth IRA
- HSA (Health Savings Account)
Asset Classes
- Stocks (Equities)
- Bonds (Fixed Income)
- Real Estate / REITs
- Commodities
Resources & Tools
Websites & Communities
- Bogleheads Forum (index investing)
- r/personalfinance & r/financialindependence
- Morningstar (fund research)
- Portfolio Visualizer (backtesting)
- FIRE Movement (Financial Independence, Retire Early)
Financial Planning Steps
- Build an emergency fund (3-6 months expenses)
- Pay off high-interest debt
- Maximize employer 401(k) match
- Max out HSA contributions (if eligible)
- Max out IRA contributions
- Increase 401(k) to maximum
- Invest in taxable accounts
- Consider real estate or alternative investments