Any advice that you both understand and fits perfectly into your mental model is probably coming from whatever dogma you already follow and is therefore useless.
Any advice you don't understand is, of course, useless.
Any advice you do understand but doesn't fit into your mental model will just get rejected.
“I always pass on good advice. It is the only thing to do with it. It is never of any use to oneself.”
― Oscar Wilde
Although certain "advice" is actually SOP, in that case it is good to know (like stop, drop, and roll).
A goat costs exactly (not roughly) the same in goats today as it cost 2000 years ago. So by that measure a goat is the only stable measure of the value of basic needs over centuries.
Makes it look like the US peaked at Sep 2000 and has been downhill ever since. Doesn't track at all with GDP which has almost doubled since 2000. I.e. it doesn't track with growth, but does track with dollar index somewhat, which makes sense because it's tracking a dollar value intermediate when considering "how much gold it takes to buy S&P 500", which means it really ends up tracking something else entirely.
> Compared to real money (Gold) the S&P500 is down over the past 10 years. [4]
Isn't this the real chart to look at for that? Completely different story when you select max on the timeline.
Personally I am about $10M USD poorer for listening to people on the internet. I wish people would not spread falsities about finance that can actually ruin lives. (Albeit to be fair, the trend is towards conservative advice...my life was uniquely affected in terms of limiting upside, so I am at least grateful that most online posts work very hard to limit downside.)
Any advice you don't understand is, of course, useless.
Any advice you do understand but doesn't fit into your mental model will just get rejected.
“I always pass on good advice. It is the only thing to do with it. It is never of any use to oneself.” ― Oscar Wilde
Although certain "advice" is actually SOP, in that case it is good to know (like stop, drop, and roll).