Retire in Seven Years?

Dear Scott,

I just came across an article in Forbes describing how it would be possible to retire in seven years by investing half your income in closed-end funds (CEFs). What do you think of CEFs? Are they worth investing in?

Tammy

Hi Tammy,

I read the same article, right to the bottom.

Then I clicked on the following ad:

The #1 BEST new trick to rapidly burn belly fat & detox (start this tonight).

Apparently the best new trick is eating avocado, and buying a lot of their expensive pills.

You and I both read the same thing: clickbait.

It’s an American article, but a closed end fund is the equivalent of a Listed Investment Company (LIC), like the Australian Foundation Investment Company (AFIC), or Argo Investments (ARG). They’re perfectly decent investments (that I own!), though they have largely been superseded by simpler Exchange Traded Funds (ETF) index funds.

Retiring in 7 years, or getting a six pack doesn’t require gimmicks, just a lot of hard work.

Scott.