My brother has a knack for making and saving money. At just 28 years old, he’s managed to build up a sizable net worth – far higher than mine or many other young financial bloggers. If he was involved in the financial blogosphere community, he’d be one of the success stories out there. At his current rate, he could probably be financially independent by his mid-30s (although he isn’t familiar with the concept of financial independence).
What makes his net worth growth really astounding is that it pretty much happened by accident. While he’s always been good at making and saving money, my brother has never been so good at actually knowing what to do with that money. For a long time, he just parked his savings in a regular savings account. When he finally did start investing, he pretty much just walked into a random bank, gave his money to some banker, and asked him to invest it for him. Naturally, that money ended up in expensive, actively traded mutual funds. After all, the banker needed to justify his fees and how could he do that if all he was doing was just putting that money into boring, old, index funds?