The 7 Biggest Wealth Killers in the Stock Market

"Even though we know that the stock market goes up by around 10% a year on average."

"Let's assume that you go out and invest $8,400 into the stock market today and you never invest another penny again. and you can get a 25% annual return on your money year after year after year and you do this for let's say 30 years. If you do that and you never invest another penny, you are going to retire with almost a little bit under $7 million"

"If you are paying out 20 25 28% a year in your credit card interest, well, it would make more sense to pay this off than trying to get this because this number is smaller than this number."

"The people that made a lot of money were people that had cash reserves and were able to come in at the bottom. People that bought in 2022 were buying stocks at a discounted price. People that bought stocks in 2020 were buying stocks at a cheap price. And after the 2008 crash, people that were buying stocks and real estate during that crash were able to become incredibly wealthy"

"The technical definition of an investment according to the tax code is somebody who's investing their money into an asset like the stock market for at least one year or longer. So holding a stock for one year plus. But really the best investors are holding on to their investments for years if not decades"

"If you invest your money $1,000 a month, you can get a 10% return on your money and you are investing your money yourself and you don't have to pay any fees. Well, over 40 years, your investments, your $1,000 a month are going to grow to right around $5.8 million."

"But now, let's assume that you put your money into some lowcost fund and you're going to pay a 0.2% fee. You're still investing the same $1,000 a month, the same 10% a year, and you do this for 40 years. But now, instead of having $5.8 $8 million, you were going to have $5.5 million, which means yes, you paid out around $300,000 in fees over the course of 40 years."

"Now, if you invest the same $1,000 a month, 10% a year, you're paying a 1.5% fee over 40 years. Well, now you're not going to have $5.8 million. You're not going to have $5.5 million. you are going to have closer to $3.8 million, which means yes, your advisor is going to take $2 million over the course of those 40 years."

"America is entering a debt death spiral. When debts rise relative to incomes on a chronic basis, right now for the US government it's almost a trillion dollars a year that goes to interest payments."