Originally Posted by
notEnuf
For all the budding Warren Buffets TVT is a real thing once you hit your financial independence number (whatever that is for you) I am now completely passive in the S&P 500 and the MBCBP holdings and I watch the number tick up from my favorite pass times. If you enjoy life in front of a screen reading SEC filing great but don't forget to live life. Health scares happening around you are a great motivator and reminder. This applies to the $$$ chaser in the airplane too. Sappy old guy advice I know but... this is the internet and I'm tired of yelling at clouds so now it's uninvited rocking chair wisdom. You're welcome.
Health scares are actually my biggest motivator to reach financial independence, especially in a health dependent career like ours. Also why the HSA is my favorite investment vehicle. Everything in life is about balance. Reading 10Qs/10ks is enjoyable for me doesn't take all day and there is still plenty of time to do other things.
Also just to clarify for all, SPY and Chill/Bogleheads 3 fund portfolio etc are exceptional hands off ways to build wealth over the long term if you are not interested in buying smaller companies with a strict value approach. My main point was to challenge the common notion that it's difficult for a small individual investor to beat the market. That nonsense is spouted by Wall Street Firms and ETFs who want your assets to increase their AUM.
On Wall Street the business plan is to maximize AUM and thus maximize revenue from fees. That's why everyone moves nearly in lockstep with certain stocks to avoid the career risk of being on the wrong side of a trade.
The beauty of being a small individual investor is you only answer to yourself. The huge blessing of being high income Delta pilots is our 18% DC plus Brokeragelink allows us to quickly build up AUM that are more than what alot of prominent Hedgefund investors have. Compound that at 15%+ a year and the results are eye-popping. Heck, compounding at 25% IRR, half of early Buffet or Greenblatt returns leads to generational wealth after just 10 years. Likely in the future we will hear of pilots that built $30m+ portfolios