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If you want to retire early, there’s a lot of advice about how to do it, but CNBC’s Jim Cramer says getting out of the rat race ahead of schedule means ditching just one bad investing habit for a couple of good ones.
“Trading is for people who professionally traded like I did,” Cramer said (1).
We want compounding … We don’t want short-term capital gains.” Here’s how toget rich from rising US property values with as little as 100— and without the stress of angry tenants Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake —here’s how to fix it ASAP Goldman Sachs used to hoard prime real estate deals for the ultrarich.Two ex-analysts just opened the door for $250 TheMad Moneyhost was referring to chasing stocks for turning a quick profit, in this case, specifically Gamestop.
He called this kind of investing the equivalent of “musical chairs.” The comparison was apt.
As everyone who’s played the party game knows, eventually the music ends, and someone’s left without a seat.
“I like you to get in and stay in,” Cramer added.
Still, investing is a core part of getting ready for retirement — just look at the traditional 60/40 portfolio split between stocks and bonds.
As Cramer implied, an early retirement doesn’t mean not investing in the market.
It means making sure your money compounds over the long-term.
And chasing short-term gains can zero your accounts if you make a bad call.
If early retirement is something you're striving for, you're not alone.
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