I know you’ve heard the common Wall Street “wisdom” that, when it comes to investing for the long haul, you’re best to simply put your money in an index fund and call it a day. Everyone parrots this “advice.” Even Warren Buffett himself! Today we’re going to dive into why this advice is one of the most effective ways to lose money fast (not to mention a chance at big dividends, like the growing 5% payout we’ll discuss below). In fact, if the average middle-class person had stuck with a market-based ETF over the last seven years instead of going just one step further and investing in an actively managed closed-end fund (CEF), they would have missed out on o ver a million dollars’ worth of gains (and dividends) .… Read more