0. Introduction Flashcards
(20 cards)
Who is the author of Just Keep Buying?
Nick Maggiulli
Nick Maggiulli is known for his insights on personal finance and investing.
What is the main mantra discussed in Just Keep Buying?
Just. Keep. Buying.
This mantra emphasizes the importance of continuous investment.
What are the two main sections of the book?
Saving and Investing
Each section covers different aspects of wealth-building.
What does the saving section cover?
How much to save, how to save more, how to spend money guilt-free
These topics help readers manage their savings effectively.
What does the investing section cover?
Why you should invest, what you should invest in, how often you should invest
This section provides insights into effective investment strategies.
What is dollar-cost averaging (DCA)?
Regular purchase of an asset over time
DCA is a strategy to mitigate the impact of volatility in investment prices.
How does Just Keep Buying differ from traditional DCA?
It includes psychological motivation to keep investing
This approach encourages continual investment regardless of market conditions.
What significant change in investing has occurred in recent years?
Free trading on major investment platforms
This has made continuous investing more accessible and cost-effective.
What is the expected outcome of following the Just Keep Buying philosophy?
Building wealth over time
The philosophy emphasizes consistent investment to counteract poor financial habits.
Why is it easier to follow Just Keep Buying today compared to the past?
Reduced fees and availability of fractional shares
Modern technology has lowered barriers to investing.
What is one of the controversial conclusions mentioned in the book?
You need to save less than you think
This challenges conventional wisdom about savings.
According to the author, why is credit card debt not always bad?
It can be used strategically
The author suggests that some debt can be beneficial for financial management.
What does the author advise against in terms of market strategy?
Saving up cash to buy the dip
This strategy is often seen as risky and counterproductive.
What should investors consider during a big market correction?
It is usually a good buying opportunity
The author emphasizes the potential benefits of investing during downturns.
What will each chapter of the book address?
One topic in-depth with actionable takeaways
This structure aims to provide practical advice based on data.
What type of evidence does the author rely on for his conclusions?
Data and evidence
This approach ensures that recommendations are grounded in research.
What was the author’s financial situation after college?
Fraught with uncertainty and stress
He struggled with financial decisions despite having a good education.
What inspired the author to start blogging about personal finance?
A desire to figure out money and investing
Blogging was a way for him to learn and share knowledge.
What is the goal of Just Keep Buying?
Illustrating proven ways to save money and build wealth
The book aims to empower readers to manage their finances better.
What psychological aspect does Just Keep Buying address?
Encouragement to make investing a habit
This helps in overcoming emotional barriers to investing.
