{"id":1678,"date":"2021-07-08T16:43:00","date_gmt":"2021-07-08T08:43:00","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=1678"},"modified":"2021-07-08T16:43:00","modified_gmt":"2021-07-08T08:43:00","slug":"%e7%82%ba%e4%bb%80%e9%ba%bc%e4%b8%8d%e8%a9%b2%e9%a0%bb%e7%b9%81%e9%97%9c%e6%b3%a8%e6%8a%95%e8%b3%87%e7%9a%84%e5%a0%b1%e9%85%ac%e7%8e%87%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=1678","title":{"rendered":"\u70ba\u4ec0\u9ebc\u6211\u5011\u5efa\u8b70\u61c9\u8a72\u6e1b\u5c11\u95dc\u6ce8\u6295\u8cc7\u5831\u916c\u7387\uff1f\u4e0d\u770b\u76e4\u6295\u8cc7\u8b93\u60a8\u8cfa\u66f4\u591a"},"content":{"rendered":"\n

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\n\n\n\n

\u6295\u8cc7\u80a1\u7968\u80fd\u8cfa\u9322<\/h3>\n\n\n\n

\u64c1\u6709\u80a1\u7968\u5e02\u5834\u4e0a\u6700\u5927\u7684\u597d\u8655\uff0c\u5c31\u662f\u53ef\u4ee5\u901a\u904e\u6301\u6709\u80a1\u7968\u4f86\u8cfa\u9322\u3002<\/p>\n\n\n\n

\u7576\u516c\u53f8\u5411\u80a1\u6771\u6d3e\u767c\u80a1\u606f\u6642\uff0c\u6211\u5011\u6703\u7372\u5f97\u767c\u9001\u5230\u5e33\u6236\u7684\u73fe\u91d1\uff0c\u63a5\u8457\u53ef\u4ee5\u9078\u64c7\u518d\u6295\u8cc7\u6216\u96a8\u610f\u652f\u51fa\u3002<\/p>\n\n\n\n

\u518d\u6295\u8cc7\u6307\u7684\u662f\u628a\u9322\u518d\u62ff\u53bb\u8cb7\u80a1\u7968\uff0c\u652f\u51fa\u5247\u662f\u9818\u51fa\u4f86\u8cb7\u6771\u897f\u3002<\/p>\n\n\n\n

\u80a1\u5e02\u4e5f\u662f\u4e16\u754c\u4e0a\u70ba\u6578\u4e0d\u591a\u3001\u8b93\u6211\u5011\u5e7e\u4e4e\u4e0d\u7528\u505a\u4efb\u4f55\u4e8b\u5c31\u53ef\u4ee5\u8cfa\u53d6\u88ab\u52d5\u6536\u5165\u7684\u5730\u65b9\u3002<\/p>\n\n\n\n

\u4f60\u8981\u505a\u7684\u5c31\u662f\u8cfc\u8cb7\u4e26\u7b49\u5f85\u3002<\/p>\n\n\n\n

\u6709\u4eba\u53ef\u80fd\u6703\u8cea\u7591\u54ea\u6709\u90a3\u9ebc\u597d\u5eb7\uff1f<\/p>\n\n\n\n

\u6211\u5e38\u807d\u5230\u9577\u8f29\u8aaa\uff1a\u8cb7\u80a1\u7968\u662f\u8ced\u535a\uff0c\u5c0d\u6b64\u6211\u89ba\u5f97\u9084\u6709\u66f4\u591a\u7684\u601d\u8003\u3002<\/p>\n\n\n\n

\u9032\u8ced\u5834\u505a\u7684\u4e8b\u8ddf\u80a1\u7968\u4e00\u6a23\u55ce\uff1f<\/p>\n\n\n\n

\u4e26\u6c92\u6709\u3002<\/p>\n\n\n\n

\u6211\u66fe\u5230\u67ec\u57d4\u5be8\u89c0\u5149\uff0c\u90a3\u908a\u6709\u5c08\u9580\u62db\u5f85\u89c0\u5149\u5ba2\u7684\u8ced\u5834\uff0c\u6211\u8eab\u908a\u7684\u4eba\u5e36\u8457\u4e9b\u8a31\u8cc7\u91d1\u7e5e\u534a\u5929\uff0c\u96c6\u5408\u7684\u6642\u5019\u9322\u5e7e\u4e4e\u90fd\u4e0d\u898b\u4e86\u3002<\/p>\n\n\n\n

\u5728\u8ced\u5834\u5f85\u8d8a\u4e45\uff0c\u9322\u5176\u5be6\u5c31\u8d8a\u5c11\uff0c\u56e0\u70ba\u4f60\u7684\u9322\u8f49\u79fb\u5230\u8ced\u5834\u7684\u838a\u5bb6\u3001\u7d93\u71df\u8005\u4eba\u8eab\u4e0a\u3002<\/p>\n\n\n\n

\u80a1\u5e02\u96d6\u7136\u64da\u7a31\u6709\u300c\u838a\u5bb6\u300d\u3001\u300c\u4e3b\u529b\u300d\uff0c\u4f46\u662f\u6563\u6236\u6295\u8cc7\u4eba\u540c\u6a23\u53ef\u4ee5\u7372\u52dd\uff0c\u7528\u7684\u662f\u6a5f\u7387\u3002\u53ea\u8981\u4f60\u6301\u6709\u9069\u5408\u4f60\u98a8\u96aa\u5c6c\u6027\u3001\u6295\u8cc7\u671f\u9650\u3001\u6709\u6548\u5206\u6563\u7684\u6295\u8cc7\u7d44\u5408\uff0c\u96a8\u8457\u4f60\u5f85\u5728\u5e02\u5834\u4e2d\u7684\u6642\u9593\u8d8a\u4e45\uff0c\u7d93\u6fdf\u6210\u9577\u5c31\u6703\u5c07\u8ca1\u5bcc\u8f49\u79fb\u5230\u4f60\u7684\u8eab\u4e0a\u3002<\/p>\n\n\n\n

\u9019\u5c31\u662f\u6295\u8cc7\u7684\u5a01\u529b\u3002<\/p>\n\n\n\n

\n\n\n\n

\u8d8a\u4e0d\u770b\u76e4\uff0c\u8d8a\u80fd\u7372\u52dd<\/strong><\/h3>\n\n\n\n

\u5df2\u6545\u5148\u92d2\u9818\u822a\u96c6\u5718\u5275\u8fa6\u4eba\u7d04\u7ff0\u2027\u67cf\u683c\u8aaa\u904e\uff1a<\/p>\n\n\n\n

\n

\u77ed\u671f\u6295\u6a5f\u6d3b\u52d5\u4f54\u4e86\u9577\u671f\u6295\u8cc7\u7684\u4e3b\u5c0e\u5730\u4f4d\u662f\u5e02\u5834\u4e0a\u6b63\u5728\u767c\u751f\u7684\u4e8b\u60c5\uff0c\u4e0d\u904e\u9577\u671f\u6295\u8cc7\u8005\u5b8c\u5168\u4e0d\u53d7\u5e02\u5834\u6ce2\u52d5\u7684\u5f71\u97ff\u3002<\/p>\n\n\n\n

\u80a1\u5e02\u7684\u65e5\u5e38\u5c31\u50cf\u4e00\u500b\u767d\u75f4\u5728\u8b1b\u6545\u4e8b\uff0c\u5145\u6eff\u4e86\u566a\u97f3\u3001\u61a4\u6012\uff0c\u6c92\u6709\u4efb\u4f55\u610f\u7fa9\u3002<\/p>\n\n\n\n

\u6211\u6700\u559c\u6b61\u7684\u898f\u5247\u4e4b\u4e00\u662f\u300c\u4e0d\u8981\u5077\u770b<\/strong>\u300d\uff01<\/p>\n\n\n\n

\u4e0d\u8981\u8b93\u6240\u6709\u7684\u566a\u97f3\u6df9\u6c92\u60a8\u7684\u5e38\u8b58\u548c\u667a\u6167\uff0c\u8acb\u76e1\u91cf\u4e0d\u8981\u6ce8\u610f\u80a1\u5e02\uff0c\u56e0\u70ba\u5b83\u7d55\u5c0d\u4e0d\u6703\u5f71\u97ff\u60a8\u7684\u7d42\u751f\u6295\u8cc7\u56de\u5831\u3002<\/p>\n\n\n\n

\u2014Vanguard founder Jack Bogle<\/p>\n<\/blockquote>\n\n\n\n

\u5f9e S&P 500 \u6307\u6578 1926 – 2020 \u5e74\u7684\u6b77\u53f2\u8cc7\u6599\u4f86\u770b\uff0c\u6211\u5011\u6301\u6709\u4ee3\u8868\u5927\u76e4\u80a1\u7968\u7684\u6642\u9593\u8d8a\u9577\uff0c\u770b\u5230\u6b63\u5831\u916c\u7684\u6a5f\u7387\u5c31\u8d8a\u5927\u3002<\/p>\n\n\n\n

\u6642\u9593\u67b6\u69cb<\/td>\u6b63\u5831\u916c\u6a5f\u7387<\/td>\u8ca0\u5831\u916c\u6a5f\u7387<\/td><\/tr>
\u6bcf\u65e5<\/td>56%<\/td>44%<\/td><\/tr>
1\u5e74<\/td>75%<\/td>25%<\/td><\/tr>
5\u5e74<\/td>88%<\/td>12%<\/td><\/tr>
10\u5e74<\/td>95%<\/td>5%<\/td><\/tr>
20\u5e74<\/td>100%<\/td>0%<\/td><\/tr><\/tbody><\/table>
S&P 500 \u6307\u6578 1926 – 2020 \u5e74\u7684\u6b77\u53f2\u8cc7\u6599
Source\uff1aDimensional Fund Advisors<\/figcaption><\/figure>\n\n\n\n

\u5982\u679c\u6211\u5011\u628a\u4e0d\u540c\u6301\u6709\u6642\u9593\u8cfa\u9322\u8ce0\u9322\u7684\u6a5f\u7387\u63db\u500b\u89d2\u5ea6\u4f86\u770b\uff0c\u8b8a\u6210\u770b\u5230\u8667\u640d\u7684\u6a5f\u7387\u3002<\/p>\n\n\n\n

\u6211\u5011\u6703\u767c\u73fe\u7576\u6bcf\u5929\u767b\u5165\u5e33\u6236\u770b\u4e00\u4e0b\u5831\u916c\u7387\uff0c44%\u7684\u6a5f\u7387\u6703\u770b\u5230\u8667\u640d<\/strong>\uff1b<\/p>\n\n\n\n

\u5982\u679c\u6211\u5011\u4e00\u5e74\u770b\u4e00\u6b21\uff0c\u6a5f\u7387\u99ac\u4e0a\u964d\u4f4e\u5230 25%\uff0c\u4f46\u4e5f\u6709\u56db\u5206\u4e4b\u4e00<\/strong>\uff1b<\/p>\n\n\n\n

\u6301\u6709\u4e94\u5e74\u624d\u770b\u4e00\u6b21\uff0c\u770b\u5230\u8667\u640d\u624d\u8b8a\u6210 12%\uff1b<\/p>\n\n\n\n

\u63a5\u4e0b\u4f86\u5c31\u5341\u5206\u4ee4\u4eba\u4f69\u670d\u5982\u679c\u6709\u4eba\u80fd\u505a\u5230\u5341\u5e74\u624d\u770b\u4e00\u6b21\uff0c\u770b\u5230\u8667\u640d\u7684\u6a5f\u7387\u53ea\u5269 5%\uff1b<\/p>\n\n\n\n

\u4e8c\u5341\u5e74\u66f4\u597d\u4e86\uff0c\u904e\u53bb\u7684\u6578\u64da\u986f\u793a\u662f 100% \u6b63\u5831\u916c\u3002<\/p>\n\n\n\n

\u4e0d\u904e\u5728\u73fe\u4ee3\u8cc7\u8a0a\u50b3\u64ad\u767c\u9054\u7684\u6642\u4ee3\uff0c\u8981\u80fd\u9577\u9054\u4e8c\u5341\u5e74\u4e0d\u770b\u3001\u4e0d\u52d5\uff0c\u5be6\u5728\u662f\u4ee4\u4eba\u4f69\u670d\u3002<\/p>\n\n\n\n

\u6240\u4ee5\u6211\u5011\u5efa\u8b70\uff1a\u8a2d\u5b9a\u597d\u4f60\u7684\u8a08\u5283<\/strong>\uff0c\u4e0d\u8981\u983b\u7e41\u770b\u76e4\uff0c\u6700\u597d\u522a\u6389\u4f60\u7684\u770b\u76e4\u8edf\u9ad4<\/strong>\uff0c\u57f9\u990a\u8ca1\u7d93\u4ee5\u5916\u7684\u55dc\u597d<\/strong>\u3002<\/p>\n\n\n\n

\u4e0d\u8981\u770b\u76e4\uff0c\u8aaa\u5f97\u5bb9\u6613\u4f46\u662f\u505a\u8d77\u4f86\u7279\u5225\u96e3\uff0c\u5c24\u5176\u662f\u5728\u76ee\u524d\u6f14\u7b97\u6cd5\u6a5f\u5236\u904b\u4f5c\u4e0b\uff0c\u5982\u679c\u4f60\u559c\u6b61\uff0c\u9019\u4e9b\u300c\u8cc7\u8a0a\u300d\u6839\u672c\u5982\u72c2\u6f6e\u822c\u5782\u624b\u53ef\u5f97\u3002<\/p>\n\n\n\n

\u5f88\u591a\u6a5f\u69cb\u3001\u7ba1\u9053\u6703\u523a\u6fc0\u4f60\u7684\u611f\u5b98\uff0c\u6697\u793a\u4f60\u8abf\u6574\u3001\u983b\u7e41\u4ea4\u6613\uff0c\u4f46\u5982\u540c\u300a\u4e0d\u770b\u76e4 \uff0c\u6211\u624d\u8cfa\u5230\u5927\u9322 ( The New Coffeehouse Investor\uff1aHow To Build Wealth, Ignore Wall Street, And Get On With Your Life ) \u300b\u9019\u672c\u66f8\u7684\u5b97\u65e8\uff1a<\/p>\n\n\n\n

\n

\u8981\u80fd\u4e0d\u770b\u76e4\uff0c\u6700\u597d\u662f\u76e1\u65e9\u8cb7\u9032\u4e00\u6a94\u80fd\u5920\u53cd\u6620\u5927\u76e4\u7684\u6307\u6578\u578b\u57fa\u91d1\u4e26\u653e\u8457\u4e0d\u7ba1\uff0c\u63a5\u8457\u6bcf\u6708\u5132\u84c4\uff0c\u5c31\u80fd\u5728\u9000\u4f11\u5f8c\u904e\u8457\u5929\u5929\u6ce1\u5496\u5561\u9928\u3001\u653e\u5047\u722c\u5c71\u7684\u512a\u9592\u6563\u6236\u751f\u6d3b\u3002<\/em><\/p>\n<\/blockquote>\n\n\n\n

\u6e1b\u5c11\u4ea4\u6613\uff0c\u9577\u671f\u6301\u6709\u6574\u500b\u5927\u76e4\uff0c\u624d\u662f\u4f60\u6210\u529f\u6295\u8cc7\u7684\u95dc\u9375\u3002<\/p>\n\n\n\n

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