After we had a down year in 2022, ALL I HEARD was how it was a bad time to invest. A recession is looming! Interest rates! Inflation! Debt ceiling! Reserve currency! Boo! 👻 And all I said back then was, just because the market didn’t do well the last few months doesn’t mean it will continue to do poorly the next few months. Stay the course!

WELL THIS IS THE BIG I TOLD YOU SO POST. We’re almost six months into the year and the market is up over 14% year to date. These aren’t annualized numbers, they’re the actual nominal numbers for the past almost six months. That means even though some high-yield savings accounts are paying 4.5% annually, you’ve only gotten about 2% of that so far this year. For those who said “high yield savings accounts are paying so much it’s a good place to hold money while the market is doing bad”. Well, you just underperformed by over 12% so far this year. That’s not a good strategy.

Did I KNOW the market was gonna jump up this much this year? Of course not. If I KNEW what the market was going to do ahead of time, I wouldn’t be posting emoji-filled infographics to Instagram, I would be a billionaire trading on that information while eating endangered fish sushi off ancient Roman artifacts on my super yacht off the coast of Fiji. But since I can’t do that, I’m just a plain old multi-millionaire becoming slowly richer the old fashioned way, by buying and holding index funds.

Ignore the scare tactics. Ignore the gloom and doom economic headlines. Ignore the conspiracy theory uncles at family reunions. Ignore the broke people giving you investment advice. Focus on what you can control. Make more, spend less, invest the difference, buy and hold. That’s what makes millionaires.

p.s. Just kidding about the endangered fish sushi. #saveouroceans

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.

-Jeremy