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Invest in lowcost index funds for long-term growth from "summary" of I Will Teach You To Be Rich by Janny Patri
One of the key principles of investing for long-term growth is to choose low-cost index funds. These funds are designed to track the performance of a specific market index, such as the S&P 500. By investing in index funds, you are essentially investing in the overall performance of the market rather than trying to pick individual stocks. Low-cost index funds are attractive for several reasons. Firstly, they have lower fees compared to actively managed funds, which can eat into your returns over time. By minimizing fees, you can potentially increase your overall returns in the long run. Secondly, index funds are passively managed, meaning they require less hands-on management and tend to be more tax-efficient. This can result in lower turnover and fewer capital gains distributi...
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