{"id":2244,"date":"2024-09-09T11:35:11","date_gmt":"2024-09-09T03:35:11","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=2244"},"modified":"2026-10-20T18:38:57","modified_gmt":"2026-10-20T10:38:57","slug":"%e7%ad%94%e6%a1%88%e5%8f%aa%e6%9c%89%e4%b8%80%e5%80%8b%ef%bc%9a%e8%b2%b7%e9%80%b2%e4%b8%a6%e6%8c%81%e6%9c%89-buy-and-hold","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=2244","title":{"rendered":"\u80a1\u7968\u600e\u9ebc\u770b\u9032\u5834\u6642\u6a5f\uff1f\u5e7e\u9ede\u8cb7\u4e0d\u91cd\u8981\uff0c\u8cb7\u5728\u9ad8\u9ede\u4ecd\u52dd\u904e\u7a7a\u7b49"},"content":{"rendered":"<p class=\"wp-block-paragraph\"><strong>\u80a1\u7968\u9032\u5834\u6642\u6a5f\u6c92\u6709\u80fd\u7a69\u5b9a\u9810\u6e2c\u7684\u8a0a\u865f\uff1b\u5c0d\u9577\u671f\u6295\u8cc7\u4eba\uff0c\u6709\u9322\u5c31\u6295\u5165\u3001\u6295\u5165\u5f8c\u6301\u7e8c\u6301\u6709\uff0c\u6b77\u53f2\u7d50\u679c\u52dd\u904e\u7b49\u5f85\u4f4e\u9ede\u3002<\/strong><\/p>\n\n<p class=\"wp-block-paragraph\">J.P. Morgan \u7d71\u8a08 2006 \u5e74 1 \u6708 2 \u65e5\u5230 2025 \u5e74 12 \u6708 31 \u65e5\uff0c1 \u842c\u7f8e\u5143\u5168\u7a0b\u6301\u6709 S&amp;P 500 \u6307\u6578\uff0c20 \u5e74\u5f8c\u8b8a\u6210 80,619 \u7f8e\u5143\uff0c\u5e74\u5316 11.0%\uff1b\u53ea\u8981\u932f\u904e\u9019\u6bb5\u671f\u9593\u6f32\u5e45\u6700\u5927\u7684 10 \u5929\uff0c\u91d1\u984d\u964d\u5230 35,866 \u7f8e\u5143\uff0c\u5e74\u5316\u5269 6.6%<sup>[1]<\/sup>\uff0cSchwab \u53e6\u4e00\u9805\u7814\u7a76\u66f4\u76f4\u63a5\uff0c\u6bcf\u5e74\u90fd\u5728\u5168\u5e74\u6700\u9ad8\u9ede\u8cb7\u9032\u7684\u6295\u8cc7\u4eba\uff0c20 \u5e74\u5f8c\u7684\u8cc7\u7522\u4ecd\u7d04\u662f\u4e00\u76f4\u62b1\u8457\u73fe\u91d1\u7b49\u5f85\u8005\u7684 3 \u500d<sup>[2]<\/sup>\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u6253\u500b\u6bd4\u65b9\uff0c\u80a1\u7968\u5e02\u5834\u6709\u9ede\u50cf\u653e\u7f6e\u578b\u624b\u904a\uff0c\u89d2\u8272\u639b\u5728\u7dda\u4e0a\uff0c\u5c31\u6703\u81ea\u5df1\u7d2f\u7a4d\u7d93\u9a57\u503c\uff0c\u4ec0\u9ebc\u6642\u5019\u767b\u5165\u5dee\u5225\u4e0d\u5927\uff0c\u771f\u6b63\u5403\u8667\u7684\u662f\u4e0b\u7dda\uff0c\u800c\u4e14\u504f\u504f\u5e38\u5728\u96d9\u500d\u7d93\u9a57\u7684\u90a3\u5e7e\u5929\u4e0b\u7dda\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u81f3\u65bc\u300c\u80a1\u7968\u5e7e\u9ede\u8cb7\u6bd4\u8f03\u597d\u300d\uff1f\u53f0\u80a1\u4e00\u822c\u4ea4\u6613\u6642\u9593\u662f\u9031\u4e00\u81f3\u9031\u4e94 9:00\u201313:30<sup>[3]<\/sup>\uff0c\u540c\u4e00\u5929\u88e1\u65e9\u4e00\u5c0f\u6642\u6216\u665a\u4e00\u5c0f\u6642\u8cb7\uff0c\u5c0d\u6301\u6709\u5341\u5e74\u4ee5\u4e0a\u7684\u4eba\u5f71\u97ff\u5f88\u5c0f\uff0c\u771f\u6b63\u62c9\u958b\u5dee\u8ddd\u7684\u662f\u6709\u6c92\u6709\u9032\u5834\u3001\u80fd\u4e0d\u80fd\u7559\u5728\u5834\u5167\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u9032\u9032\u51fa\u51fa\u7684\u4ee3\u50f9\u4e5f\u6709\u6578\u5b57\u53ef\u67e5\uff0cMorningstar \u4f30\u8a08 2016\u20132025 \u5e74\uff0c\u7f8e\u570b\u57fa\u91d1\u6295\u8cc7\u4eba\u56e0\u8cb7\u8ce3\u6642\u9ede\uff0c\u6bcf\u5e74\u5c11\u8cfa\u7d04 1.2 \u500b\u767e\u5206\u9ede<sup>[4]<\/sup>\uff0c\u770b\u76e4\u3001\u6280\u8853\u6307\u6a19\u8207\u5e02\u5834\u60c5\u7dd2\u80fd\u63cf\u8ff0\u73fe\u6cc1\uff0c\u4e0d\u80fd\u544a\u8a34\u4f60\u660e\u5929\u6703\u6f32\u9084\u662f\u8dcc\uff0c\u5e7e\u9ede\u8cb7\u3001\u54ea\u5929\u8cb7\uff0c\u9060\u4e0d\u5982\u8cc7\u7522\u914d\u7f6e\u8207\u6301\u6709\u6642\u9593\u91cd\u8981\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u624b\u4e0a\u6709\u4e00\u7b46\u9322\u3001\u60f3\u77e5\u9053\u4e00\u6b21\u6295\u5165\u9084\u662f\u5206\u6279\uff0c\u53ef\u4ee5\u76f4\u63a5\u770b<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=8077\">\u55ae\u7b46\u6295\u8cc7 vs \u5b9a\u671f\u5b9a\u984d\u54ea\u500b\u597d\uff1f<\/a><\/p>\n\n<h2 class=\"wp-block-heading\">\u7b49\u4f4e\u9ede\u7684\u4ee3\u50f9\uff0c\u6bd4\u8cb7\u5728\u9ad8\u9ede\u5927<\/h2>\n\n<p class=\"wp-block-paragraph\">\u6bcf\u9022\u80a1\u5e02\u5287\u70c8\u9707\u76ea\uff0c\u7e3d\u6709\u6295\u8cc7\u4eba\u60f3\u5148\u51fa\u5834\u907f\u4e00\u907f\uff0c\u4e5f\u6709\u4eba\u60f3\u7b49\u8dcc\u6df1\u518d\u9032\u5834\uff0c\u4e0d\u904e\u7b49\u5f85\u672c\u8eab\u5c31\u6709\u6210\u672c\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">Schwab \u91d1\u878d\u7814\u7a76\u4e2d\u5fc3 2025 \u5e74 7 \u6708\u66f4\u65b0\u7684\u7814\u7a76\uff0c\u5047\u8a2d\u4e94\u4f4d\u6295\u8cc7\u4eba\u5728 2005\u20132024 \u5e74\u9593\uff0c\u6bcf\u5e74\u5e74\u521d\u90fd\u62ff\u5230 2,000 \u7f8e\u5143\uff0c\u7e3d\u5171\u6295\u5165 4 \u842c\u7f8e\u5143\uff0c\u5dee\u5225\u53ea\u5728\u4ec0\u9ebc\u6642\u5019\u8cb7\u9032 S&amp;P 500<sup>[2]<\/sup>\uff1a<\/p>\n\n<figure class=\"wp-block-table\"><table>\n<thead>\n<tr>\n<th>\u6295\u8cc7\u4eba<\/th>\n<th>\u505a\u6cd5<\/th>\n<th>20 \u5e74\u5f8c\u8cc7\u7522\uff08\u7f8e\u5143\uff09<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u5b8c\u7f8e\u64c7\u6642<\/td>\n<td>\u6bcf\u5e74\u90fd\u8cb7\u5728\u5168\u5e74\u6700\u4f4e\u9ede<\/td>\n<td>186,077<\/td>\n<\/tr>\n<tr>\n<td>\u7acb\u5373\u6295\u5165<\/td>\n<td>\u6bcf\u5e74\u7b2c\u4e00\u500b\u4ea4\u6613\u65e5\u5c31\u8cb7<\/td>\n<td>170,555<\/td>\n<\/tr>\n<tr>\n<td>\u5b9a\u671f\u6295\u5165<\/td>\n<td>\u6bcf\u5e74 2,000 \u7f8e\u5143\u5206 12 \u500b\u6708\u5e73\u5747\u6295\u5165<\/td>\n<td>166,591<\/td>\n<\/tr>\n<tr>\n<td>\u6700\u5dee\u64c7\u6642<\/td>\n<td>\u6bcf\u5e74\u90fd\u8cb7\u5728\u5168\u5e74\u6700\u9ad8\u9ede<\/td>\n<td>151,343<\/td>\n<\/tr>\n<tr>\n<td>\u4e00\u76f4\u7b49\u5f85<\/td>\n<td>\u59cb\u7d42\u653e\u5728\u77ed\u671f\u570b\u5eab\u5238\uff0c\u7b49\u66f4\u597d\u7684\u6642\u6a5f<\/td>\n<td>47,357<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/figure>\n\n<p class=\"wp-block-paragraph\">\u8cc7\u6599\u4f86\u6e90\uff1aSchwab Center for Financial Research\uff082025\uff09\uff0c\u5047\u8a2d\u6027\u8a66\u7b97\uff0c\u80a1\u606f\u518d\u6295\u5165\uff0c\u672a\u8a08\u7a05\u8cbb\uff1b\u904e\u53bb\u7e3e\u6548\u4e0d\u4ee3\u8868\u672a\u4f86\u8868\u73fe<sup>[2]<\/sup><\/p>\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2026\/10\/2244_\u4e94\u7a2e\u64c7\u6642.png\" alt=\"\u4e94\u7a2e\u64c7\u6642\u505a\u6cd5 20 \u5e74\u5f8c\u7684\u8cc7\u7522\uff1a\u5b8c\u7f8e\u64c7\u6642 186,077 \u7f8e\u5143\u3001\u7acb\u5373\u6295\u5165 170,555 \u7f8e\u5143\u3001\u5b9a\u671f\u6295\u5165 166,591 \u7f8e\u5143\u3001\u6700\u5dee\u64c7\u6642 151,343 \u7f8e\u5143\u3001\u4e00\u76f4\u7b49\u5f85 47,357 \u7f8e\u5143\uff0c\u7e3d\u6295\u5165 4 \u842c\u7f8e\u5143\"\/><figcaption class=\"wp-element-caption\">\u8cc7\u6599\u4f86\u6e90\uff1aSchwab Center for Financial Research\uff082025\uff09\uff1b\u5047\u8a2d\u6027\u8a66\u7b97\uff0c\u80a1\u606f\u518d\u6295\u5165\uff0c\u672a\u8a08\u7a05\u8cbb\uff1b\u904e\u53bb\u7e3e\u6548\u4e0d\u4ee3\u8868\u672a\u4f86\u8868\u73fe<\/figcaption><\/figure>\n\n<p class=\"wp-block-paragraph\">\u6bcf\u5e74\u90fd\u8cb7\u5728\u6700\u9ad8\u9ede\u7684\u4eba\uff0c20 \u5e74\u5f8c\u53ea\u6bd4\u7acb\u5373\u6295\u5165\u5c11 19,212 \u7f8e\u5143\uff0c\u537b\u662f\u4e00\u76f4\u7b49\u5f85\u8005\u7684 3 \u500d\u591a\uff0c\u5b8c\u7f8e\u64c7\u6642\u4e5f\u53ea\u6bd4\u7acb\u5373\u6295\u5165\u591a 15,522 \u7f8e\u5143\uff0c\u800c\u73fe\u5be6\u4e2d\u5e7e\u4e4e\u6c92\u6709\u4eba\u80fd\u9023\u7e8c 20 \u5e74\u90fd\u8cb7\u5728\u6700\u4f4e\u9ede\uff08\u771f\u6709\u9019\u7a2e\u4eba\uff0c\u5927\u6982\u4e5f\u4e0d\u9700\u8981\u4e0a\u7db2\u67e5\u9032\u5834\u6642\u6a5f\u4e86\uff09\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">Schwab \u628a 1926 \u5e74\u4ee5\u4f86 80 \u500b\u6efe\u52d5 20 \u5e74\u671f\u9593\u90fd\u7b97\u904e\u4e00\u904d\uff0c\u5176\u4e2d 70 \u500b\u671f\u9593\u7684\u540d\u6b21\u5b8c\u5168\u4e00\u6a23\uff0c\u300c\u4e00\u76f4\u7b49\u5f85\u300d\u90fd\u662f\u6700\u5f8c\u4e00\u540d\uff0c\u5728\u5176\u9918 10 \u500b\u671f\u9593\uff0c\u7acb\u5373\u6295\u5165\u4e5f\u5f9e\u672a\u6392\u5230\u6700\u5f8c\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u70ba\u4ec0\u9ebc\uff1f\u7814\u7a76\u7684\u53e6\u4e00\u500b\u6578\u5b57\u7d66\u4e86\u7b54\u6848\uff0c\u6b77\u53f2\u4e0a\u4efb\u53d6 12 \u500b\u6708\uff0cS&amp;P 500 \u4e0a\u6f32\u7684\u6bd4\u4f8b\u7d04 75.6%<sup>[2]<\/sup>\uff0c\u5e02\u5834\u591a\u6578\u6642\u9593\u5728\u6f32\uff0c\u7b49\u5f85\u901a\u5e38\u662f\u7528\u9322\u7684\u6a5f\u6703\u6210\u672c\u63db\u5fc3\u7406\u4e0a\u7684\u5b89\u5168\u611f\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u932f\u904e\u6700\u597d\u7684\u5e7e\u5929\uff1a\u9032\u51fa\u5834\u7684\u771f\u5be6\u6210\u672c<\/h2>\n\n<p class=\"wp-block-paragraph\">\u60f3\u7b49\u300c\u78ba\u5b9a\u5b89\u5168\u300d\u518d\u9032\u5834\u7684\u4eba\uff0c\u6700\u5bb9\u6613\u932f\u904e\u7684\u662f\u53cd\u5f48\u6700\u5f37\u7684\u90a3\u5e7e\u5929\u3002<\/p>\n\n<figure class=\"wp-block-table\"><table>\n<thead>\n<tr>\n<th>2006-01-02\uff5e2025-12-31\uff0c\u6295\u5165 1 \u842c\u7f8e\u5143<\/th>\n<th>\u671f\u672b\u91d1\u984d\uff08\u7f8e\u5143\uff09<\/th>\n<th>\u5e74\u5316\u5831\u916c<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u5168\u7a0b\u6301\u6709<\/td>\n<td>80,619<\/td>\n<td>11.0%<\/td>\n<\/tr>\n<tr>\n<td>\u932f\u904e\u6700\u597d\u7684 10 \u5929<\/td>\n<td>35,866<\/td>\n<td>6.6%<\/td>\n<\/tr>\n<tr>\n<td>\u932f\u904e\u6700\u597d\u7684 20 \u5929<\/td>\n<td>21,177<\/td>\n<td>3.8%<\/td>\n<\/tr>\n<tr>\n<td>\u932f\u904e\u6700\u597d\u7684 30 \u5929<\/td>\n<td>13,826<\/td>\n<td>1.6%<\/td>\n<\/tr>\n<tr>\n<td>\u932f\u904e\u6700\u597d\u7684 40 \u5929<\/td>\n<td>9,462<\/td>\n<td>\u22120.3%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/figure>\n\n<p class=\"wp-block-paragraph\">\u8cc7\u6599\u4f86\u6e90\uff1aJ.P. Morgan Asset Management\u300aGuide to Retirement 2026\u300b\uff0cS&amp;P 500 \u7e3d\u5831\u916c\u6307\u6578\uff0c\u8cc7\u6599\u622a\u81f3 2025-12-31\uff0c\u5047\u8a2d\u6027\u8a66\u7b97\uff0c\u672a\u8a08\u8cbb\u7528<sup>[1]<\/sup><\/p>\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2026\/10\/2244_\u932f\u904e\u6700\u597d\u7684\u65e5\u5b50.png\" alt=\"2006 \u5230 2025 \u5e74\u6295\u5165 S&#038;P 500 1 \u842c\u7f8e\u5143\uff1a\u5168\u7a0b\u6301\u6709 80,619 \u7f8e\u5143\uff08\u5e74\u5316 11.0%\uff09\uff0c\u932f\u904e\u6700\u597d\u7684 10 \u5929 35,866 \u7f8e\u5143\uff0c\u932f\u904e 20 \u5929 21,177 \u7f8e\u5143\uff0c\u932f\u904e 30 \u5929 13,826 \u7f8e\u5143\uff0c\u932f\u904e 40 \u5929 9,462 \u7f8e\u5143\uff08\u5e74\u5316 \u22120.3%\uff09\"\/><figcaption class=\"wp-element-caption\">\u8cc7\u6599\u4f86\u6e90\uff1aJ.P. Morgan Asset Management\u300aGuide to Retirement 2026\u300b\uff0c\u8cc7\u6599\u622a\u81f3 2025-12-31\uff1b\u5047\u8a2d\u6027\u8a66\u7b97\uff0c\u672a\u8a08\u8cbb\u7528<\/figcaption><\/figure>\n\n<p class=\"wp-block-paragraph\">20 \u5e74\u7d04 5,000 \u500b\u4ea4\u6613\u65e5\uff0c\u932f\u904e\u5176\u4e2d 10 \u5929\uff0c\u671f\u672b\u91d1\u984d\u5c11\u4e86\u4e00\u534a\u4ee5\u4e0a\uff0c\u800c\u4e14\u6700\u597d\u7684\u65e5\u5b50\u5f80\u5f80\u7dca\u8ddf\u5728\u6700\u5dee\u7684\u65e5\u5b50\u5f8c\u9762\uff0cJ.P. Morgan \u7d71\u8a08\u9019 20 \u5e74\u88e1\uff0c\u6700\u597d\u7684 10 \u5929\u6709 6 \u5929\u51fa\u73fe\u5728\u6700\u5dee 10 \u5929\u7684\u524d\u5f8c\u5169\u9031\u5167\uff0c2020 \u5e74\u7b2c\u4e8c\u5dee\u7684 3 \u6708 12 \u65e5\uff0c\u9694\u5929\u5c31\u662f\u7576\u5e74\u7b2c\u4e8c\u597d\u7684\u4e00\u5929<sup>[1]<\/sup>\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5728\u5927\u8dcc\u6642\u8ce3\u51fa\u60f3\u300c\u5148\u907f\u4e00\u4e0b\u300d\uff0c\u5f88\u53ef\u80fd\u5c31\u525b\u597d\u932f\u904e\u53cd\u5f48\uff0c\u5c31\u50cf\u602a\u592a\u5f37\u5148\u4e0b\u7dda\uff0c\u7d50\u679c\u932f\u904e\u4e86\u7dca\u63a5\u8457\u958b\u7684\u96d9\u500d\u7d93\u9a57\u6d3b\u52d5\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5be6\u969b\u6295\u8cc7\u4eba\u7684\u7d00\u9304\u4e5f\u662f\u5982\u6b64\uff0cMorningstar\u300aMind the Gap 2026\u300b\u4f30\u8a08\uff0c2016\u20132025 \u5e74\u7f8e\u570b\u5171\u540c\u57fa\u91d1\u8207 ETF \u6bcf\u5e74\u7e3d\u5831\u916c 9.9%\uff0c\u6295\u8cc7\u4eba\u5be6\u969b\u62ff\u5230\u7684\u300c\u5e73\u5747\u6bcf\u4e00\u584a\u9322\u5831\u916c\u300d\u53ea\u6709 8.7%\uff0c\u76f8\u7576\u65bc\u5c11\u62ff\u4e86\u57fa\u91d1\u5831\u916c\u7684 12%\uff0c\u539f\u56e0\u5c31\u662f\u8ffd\u9ad8\u6bba\u4f4e\u7684\u8cb7\u8ce3\u6642\u9ede\u8207\u91d1\u984d<sup>[4]<\/sup>\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u5982\u679c\u624b\u4e0a\u662f\u4e00\u6574\u7b46\u9322\uff0cVanguard 2023 \u5e74\u7684\u7814\u7a76\u6bd4\u8f03\u4e86\u4e00\u6b21\u6295\u5165\u8207\u5206\u6279\u6295\u5165\uff0c1976\u20132022 \u5e74\u7684\u6b77\u53f2\u8cc7\u6599\u4e2d\uff0c\u4e00\u6b21\u6295\u5165\u7d04\u6709\u4e09\u5206\u4e4b\u4e8c\u7684\u6a5f\u7387\u52dd\u904e\u5206\u6279\uff0c\u4e0d\u904e\u5206\u6279\u6295\u5165\u4ecd\u52dd\u904e\u4e00\u76f4\u653e\u73fe\u91d1\uff0c\u5c0d\u975e\u5e38\u6015\u8667\u640d\u7684\u4eba\u662f\u53ef\u4ee5\u63a5\u53d7\u7684\u6298\u8877<sup>[5]<\/sup>\uff0c\u4e00\u7b46\u734e\u91d1\u6216\u9000\u4f11\u91d1\u8a72\u600e\u9ebc\u9032\u5834\uff0c<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=8077\">\u55ae\u7b46\u6295\u8cc7 vs \u5b9a\u671f\u5b9a\u984d\u54ea\u500b\u597d\uff1f<\/a>\u7528\u6578\u5b57\u6bd4\u8f03\u4e86\u5169\u7a2e\u505a\u6cd5\u7684\u5dee\u5225\u8207\u9069\u5408\u7684\u4eba\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u8cb7\u5728\u9ad8\u9ede\u6703\u600e\u6a23\uff1fS&amp;P 500 \u516d\u6b21\u5927\u8dcc\u7684\u6b77\u53f2<\/h2>\n\n<p class=\"wp-block-paragraph\">\u80a1\u5e02\u7684\u6ce2\u52d5\u662f\u5e38\u614b\uff0cS&amp;P 500 \u5f9e 1970 \u5e74\u5230 2022 \u5e74 3 \u6708\u7684\u6bcf\u6708\u5831\u916c\u88e1\uff0c\u55ae\u6708\u6f32\u8d85\u904e 10%\u3001\u8dcc\u8d85\u904e 10% \u7684\u6708\u4efd\u90fd\u51fa\u73fe\u904e\u4e0d\u53ea\u4e00\u6b21\u3002<\/p>\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/04\/image.png\" alt=\"S&#038;P 500 \u6307\u6578 1970 \u5e74 2 \u6708\u81f3 2022 \u5e74 3 \u6708\u6bcf\u6708\u5831\u916c\u6298\u7dda\u5716\uff0c\u55ae\u6708\u6f32\u8dcc\u5e45\u591a\u5728\u6b63\u8ca0 5% \u4e4b\u9593\uff0c1987 \u5e74 10 \u6708\u55ae\u6708\u8dcc\u903e 20%\"\/><figcaption class=\"wp-element-caption\">\u8cc7\u6599\u4f86\u6e90\uff1aMorningstar Direct\uff0c\u963f\u723e\u767c\u6295\u9867\u6574\u7406\uff1b\u8cc7\u6599\u671f\u9593 1970\/02\uff5e2022\/03<\/figcaption><\/figure>\n\n<p class=\"wp-block-paragraph\">\u5176\u4e2d\u56e0\u91cd\u5927\u4e8b\u4ef6\u9020\u6210\u7684\u5927\u8dcc\u6709\u516d\u6b21\uff0c\u5f9e 1970 \u5e74\u7684\u7d93\u6fdf\u8870\u9000\u30011973 \u5e74\u77f3\u6cb9\u5371\u6a5f\u30011987 \u5e74\u9ed1\u8272\u661f\u671f\u4e00\u30012000 \u5e74\u7db2\u8def\u6ce1\u6cab\u30012008 \u5e74\u6b21\u7d1a\u623f\u8cb8\u5371\u6a5f\uff0c\u5230 2020 \u5e74\u65b0\u51a0\u75ab\u60c5\uff1a<\/p>\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/04\/image-3.png\" alt=\"S&#038;P 500 \u516d\u6b21\u5927\u8dcc\u671f\u9593\u5c0d\u7167\u8868\uff1a1970 \u7d93\u6fdf\u8870\u9000\u8dcc 18.03%\u30011973\u201374 \u77f3\u6cb9\u5371\u6a5f\u8dcc 37.27%\u30011987 \u9ed1\u8272\u661f\u671f\u4e00\u8dcc 29.58%\u30012000\u201302 \u7db2\u8def\u6ce1\u6cab\u8dcc 37.61%\u30012007\u201309 \u6b21\u8cb8\u5371\u6a5f\u8dcc 50.95%\u30012020 \u65b0\u51a0\u75ab\u60c5\u8dcc 19.57%\"\/><figcaption class=\"wp-element-caption\">\u8cc7\u6599\u4f86\u6e90\uff1aMorningstar Direct\uff0c\u963f\u723e\u767c\u6295\u9867\u6574\u7406<\/figcaption><\/figure>\n\n<p class=\"wp-block-paragraph\">\u5047\u8a2d\u6709\u4e00\u4f4d\u904b\u6c23\u5f88\u5dee\u7684\u6295\u8cc7\u4eba\uff0c\u6bcf\u6b21\u90fd\u525b\u597d\u5728\u9019\u516d\u6b21\u5927\u8dcc\u524d\u7684\u9ad8\u9ede\u9032\u5834\uff0c\u6bcf\u4e00\u6b21\u9032\u5834\u5f8c\u77ed\u671f\u5167\u90fd\u6703\u770b\u5230\u5169\u6210\u5230\u4e94\u6210\u7684\u5e33\u9762\u640d\u5931\uff08\u5149\u60f3\u5c31\u5f88\u96e3\u53d7\uff09\uff0c\u53ef\u662f\u9019\u516d\u6b21\u4e0b\u8dcc\uff0cS&amp;P 500 \u4e8b\u5f8c\u90fd\u56de\u5230\u4e26\u8d85\u8d8a\u524d\u9ad8\uff0c\u53ea\u8981\u4ed6\u6c92\u6709\u5728\u4f4e\u9ede\u8ce3\u51fa\uff0c\u6bcf\u4e00\u7b46\u6295\u5165\u6700\u5f8c\u90fd\u56de\u5fa9\u81f3\u6210\u672c\u4ee5\u4e0a\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">Schwab \u7684\u300c\u6700\u5dee\u64c7\u6642\u300d\u6295\u8cc7\u4eba\u4e5f\u662f\u540c\u4e00\u500b\u9053\u7406\uff0c<strong>\u8cb7\u5728\u9ad8\u9ede\u7684\u50b7\u5bb3\u662f\u66ab\u6642\u7684\uff0c\u96e2\u958b\u5e02\u5834\u7684\u50b7\u5bb3\u624d\u662f\u9577\u671f\u7684\u3002<\/strong><\/p>\n\n<p class=\"wp-block-paragraph\">\u60f3\u77e5\u9053\u5927\u8dcc\u4e4b\u524d\u6709\u6c92\u6709\u8de1\u8c61\u53ef\u5faa\uff0c1987 \u5e74\u9ed1\u8272\u661f\u671f\u4e00\u7684\u7d93\u904e\u8207\u4e8b\u5f8c\u6aa2\u8a0e\uff0c\u6574\u7406\u5728<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=2236\">\u80a1\u5e02\u5927\u5d29\u76e4\u6709\u4ec0\u9ebc\u524d\u5146\uff1f<\/a>\u3002<\/p>\n\n\n<div class=\"wp-block-group alpha-cta alpha-cta-mid alpha-cta-alloc has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-left-color:#006ece;border-left-width:4px;background-color:#f3f7fb;padding:16px 20px\">\n<p class=\"wp-block-paragraph\"><strong>\u60f3\u77e5\u9053\u9019\u6a23\u7684\u914d\u7f6e\u9069\u4e0d\u9069\u5408\u4f60\u7684\u76ee\u6a19\u8207\u671f\u9593\uff1f<\/strong><\/p>\n\n\n<div class=\"wp-block-buttons is-content-justification-left is-layout-flex wp-container-core-buttons-is-layout-7b4500cd wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/roboadvisor.com.tw\/portfolio-calculator\/?Camp=Blog\" style=\"border-radius:50px;color:#ffffff;background-color:#006ece;border:2px solid #006ece;font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.234), 17px);line-height:1.4;padding:10px 26px\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>\u514d\u8cbb\u8a66\u7b97\u6211\u7684\u6295\u8cc7\u7d44\u5408<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\">\u80a1\u7968\u600e\u9ebc\u770b\uff1f\u770b\u76e4\u5148\u61c2\u9019 7 \u500b\u6b04\u4f4d<\/h2>\n\n<p class=\"wp-block-paragraph\">\u5404\u5bb6\u770b\u76e4\u8edf\u9ad4\u7684\u5831\u50f9\u756b\u9762\u5927\u540c\u5c0f\u7570\uff0c\u65b0\u624b\u5148\u770b\u61c2\u4e03\u500b\u6b04\u4f4d\uff0c\u5c31\u80fd\u8b80\u61c2\u4e00\u6a94\u80a1\u7968\u4eca\u5929\u767c\u751f\u4e86\u4ec0\u9ebc\u4e8b\uff1a<\/p>\n\n<figure class=\"wp-block-table\"><table>\n<thead>\n<tr>\n<th>\u6b04\u4f4d<\/th>\n<th>\u610f\u601d<\/th>\n<th>\u600e\u9ebc\u8b80<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u958b\u76e4\u50f9<\/td>\n<td>\u7576\u5929\u7b2c\u4e00\u7b46\u6210\u4ea4\u50f9<\/td>\n<td>\u53f0\u80a1\u958b\u76e4\u4ee5\u96c6\u5408\u7af6\u50f9\u6c7a\u5b9a\uff0c\u53cd\u6620\u524d\u4e00\u665a\u5230\u958b\u76e4\u524d\u7684\u6d88\u606f<sup>[3]<\/sup><\/td>\n<\/tr>\n<tr>\n<td>\u6536\u76e4\u50f9<\/td>\n<td>\u7576\u5929\u6700\u5f8c\u4e00\u7b46\u6210\u4ea4\u50f9<\/td>\n<td>\u6536\u76e4\u4e5f\u63a1\u96c6\u5408\u7af6\u50f9\uff1b\u5404\u7a2e\u5831\u916c\u7387\u3001\u6280\u8853\u6307\u6a19\u591a\u7528\u6536\u76e4\u50f9\u8a08\u7b97<\/td>\n<\/tr>\n<tr>\n<td>\u6700\u9ad8\u50f9\uff0f\u6700\u4f4e\u50f9<\/td>\n<td>\u7576\u5929\u6210\u4ea4\u904e\u7684\u6700\u9ad8\u8207\u6700\u4f4e\u50f9\u683c<\/td>\n<td>\u5169\u8005\u5dee\u8ddd\u8d8a\u5927\uff0c\u7576\u5929\u6ce2\u52d5\u8d8a\u5927<\/td>\n<\/tr>\n<tr>\n<td>\u6f32\u8dcc\u8207\u6f32\u8dcc\u5e45<\/td>\n<td>\u6536\u76e4\u50f9\u548c\u524d\u4e00\u65e5\u6bd4\u8f03\u7684\u5dee\u984d\u8207\u767e\u5206\u6bd4<\/td>\n<td>\u53f0\u80a1\u80a1\u7968\u55ae\u65e5\u6f32\u8dcc\u4ee5\u958b\u76e4\u7af6\u50f9\u57fa\u6e96\u4e0a\u4e0b 10% \u70ba\u9650<sup>[3]<\/sup><\/td>\n<\/tr>\n<tr>\n<td>\u6210\u4ea4\u91cf<\/td>\n<td>\u7576\u5929\u6210\u4ea4\u7684\u80a1\u6578\uff08\u53f0\u80a1\u5e38\u4ee5\u300c\u5f35\u300d\u8a08\uff0c1 \u5f35\uff1d1,000 \u80a1\uff09<\/td>\n<td>\u50f9\u683c\u8b8a\u52d5\u6642\u6210\u4ea4\u91cf\u653e\u5927\uff0c\u4ee3\u8868\u53c3\u8207\u7684\u4eba\u591a<\/td>\n<\/tr>\n<tr>\n<td>\u8cb7\u50f9\uff0f\u8ce3\u50f9\uff08\u59d4\u8cb7\uff0f\u59d4\u8ce3\uff09<\/td>\n<td>\u76ee\u524d\u5e02\u5834\u4e0a\u6700\u9ad8\u7684\u8cb7\u9032\u59d4\u8a17\u50f9\u3001\u6700\u4f4e\u7684\u8ce3\u51fa\u59d4\u8a17\u50f9<\/td>\n<td>\u60f3\u7acb\u523b\u8cb7\u9032\uff0c\u8981\u63a5\u53d7\u8ce3\u50f9\uff1b\u60f3\u7acb\u523b\u8ce3\u51fa\uff0c\u8981\u63a5\u53d7\u8cb7\u50f9\uff0c\u5169\u8005\u7684\u5dee\u5c31\u662f\u8cb7\u8ce3\u50f9\u5dee<\/td>\n<\/tr>\n<tr>\n<td>\u672c\u76ca\u6bd4<\/td>\n<td>\u80a1\u50f9 \u00f7 \u6bcf\u80a1\u76c8\u9918<\/td>\n<td>\u4ee3\u8868\u5e02\u5834\u9858\u610f\u70ba\u6bcf 1 \u5143\u7372\u5229\u4ed8\u591a\u5c11\u9322\uff0c\u8981\u548c\u540c\u7522\u696d\u3001\u81ea\u5df1\u7684\u6b77\u53f2\u5340\u9593\u6bd4\u8f03<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/figure>\n\n<p class=\"wp-block-paragraph\">\u300c\u8cb7\u9032\u300d\u300c\u8ce3\u51fa\u300d\u7684\u610f\u601d\u4e5f\u5e38\u88ab\u554f\u5230\uff0c\u8cb7\u9032\u662f\u7528\u8ce3\u65b9\u639b\u51fa\u7684\u50f9\u683c\u6210\u4ea4\uff0c\u8ce3\u51fa\u662f\u7528\u8cb7\u65b9\u639b\u51fa\u7684\u50f9\u683c\u6210\u4ea4\uff0c\u6240\u4ee5\u540c\u4e00\u6642\u9593\u8cb7\u9032\u99ac\u4e0a\u8ce3\u51fa\uff0c\u6703\u5148\u640d\u5931\u4e00\u500b\u8cb7\u8ce3\u50f9\u5dee\u52a0\u4e0a\u624b\u7e8c\u8cbb\u8207\u8b49\u4ea4\u7a05\uff0c\u9019\u4e5f\u662f\u983b\u7e41\u9032\u51fa\u6703\u964d\u4f4e\u5831\u916c\u7684\u539f\u56e0\u4e4b\u4e00\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u958b\u6236\u3001\u4e0b\u55ae\u8207\u624b\u7e8c\u8cbb\u9019\u4e9b\u5be6\u969b\u64cd\u4f5c\uff0c\u5728<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=4874\">\u80a1\u7968\u600e\u9ebc\u8cb7\uff1f\u80a1\u7968\u5165\u9580\u65b0\u624b\u5fc5\u770b<\/a>\u6709\u9010\u6b65\u8aaa\u660e\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u80a1\u7968\u5e7e\u9ede\u8cb7\uff1f\u53f0\u80a1\u4ea4\u6613\u6642\u6bb5\u4e00\u6b21\u5c0d\u7167<\/h2>\n\n<p class=\"wp-block-paragraph\">\u300c\u80a1\u7968\u5e7e\u9ede\u8cb7\u6bd4\u8f03\u597d\u300d\u300c\u8cb7\u80a1\u7968\u6700\u4f73\u6642\u9593\u300d\u662f\u5f88\u591a\u65b0\u624b\u7684\u7b2c\u4e00\u500b\u554f\u984c\uff0c\u53f0\u80a1\u53ef\u4ee5\u4ea4\u6613\u7684\u6642\u6bb5\u6709\u56db\u7a2e\uff1a<\/p>\n\n<figure class=\"wp-block-table\"><table>\n<thead>\n<tr>\n<th>\u6642\u6bb5<\/th>\n<th>\u59d4\u8a17\u6642\u9593<\/th>\n<th>\u6210\u4ea4\u65b9\u5f0f<\/th>\n<th>\u9069\u5408\u8ab0<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\u4e00\u822c\u4ea4\u6613\uff08\u6574\u80a1\uff09<\/td>\n<td>8:30\u201313:30\uff0c9:00 \u958b\u59cb\u64ae\u5408<\/td>\n<td>\u958b\u76e4\u3001\u6536\u76e4\u96c6\u5408\u7af6\u50f9\uff1b\u76e4\u4e2d 9:00\u201313:25 \u9010\u7b46\u4ea4\u6613<\/td>\n<td>\u4e00\u822c\u8cb7\u8ce3<\/td>\n<\/tr>\n<tr>\n<td>\u76e4\u4e2d\u96f6\u80a1<\/td>\n<td>9:00\u201313:30<\/td>\n<td>9:10 \u7b2c\u4e00\u6b21\u64ae\u5408\uff0c\u4e4b\u5f8c\u6bcf 5 \u79d2\u96c6\u5408\u7af6\u50f9\u4e00\u6b21<\/td>\n<td>\u5c0f\u984d\u8cb7\u9032\u3001\u4e0d\u5230 1 \u5f35<\/td>\n<\/tr>\n<tr>\n<td>\u76e4\u5f8c\u5b9a\u50f9<\/td>\n<td>14:00\u201314:30<\/td>\n<td>14:30 \u4ee5\u7576\u65e5\u6536\u76e4\u50f9\u6210\u4ea4<\/td>\n<td>\u60f3\u7528\u6536\u76e4\u50f9\u6210\u4ea4<\/td>\n<\/tr>\n<tr>\n<td>\u76e4\u5f8c\u96f6\u80a1<\/td>\n<td>13:40\u201314:30<\/td>\n<td>14:30 \u5f8c\u4e00\u6b21\u96c6\u5408\u7af6\u50f9<\/td>\n<td>\u4e0d\u60f3\u76ef\u76e4\u7684\u5c0f\u984d\u6295\u8cc7<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/figure>\n\n<p class=\"wp-block-paragraph\">\u8cc7\u6599\u4f86\u6e90\uff1a\u81fa\u7063\u8b49\u5238\u4ea4\u6613\u6240\u3008\u4ea4\u6613\u5236\u5ea6\u3009<sup>[3]<\/sup><\/p>\n\n<p class=\"wp-block-paragraph\">\u5c0d\u9577\u671f\u6295\u8cc7\u4eba\uff0c\u5e7e\u9ede\u8cb7\u7684\u5dee\u7570\u9060\u5c0f\u65bc\u6709\u6c92\u6709\u8cb7\uff0cJ.P. Morgan \u7684\u6578\u64da\u88e1\uff0c20 \u5e74\u5168\u7a0b\u6301\u6709\u7684\u5e74\u5316\u5831\u916c\u662f 11.0%<sup>[1]<\/sup>\uff0c\u540c\u4e00\u5929\u65e9\u76e4\u6216\u5c3e\u76e4\u7684\u50f9\u5dee\uff0c\u6524\u5230\u5341\u5e74\u3001\u4e8c\u5341\u5e74\u7684\u6301\u6709\u671f\u9593\u5e7e\u4e4e\u770b\u4e0d\u51fa\u4f86\uff08\u767b\u5165\u6642\u9593\u65e9\u4e00\u5c0f\u6642\u3001\u665a\u4e00\u5c0f\u6642\uff0c\u639b\u6a5f\u7684\u7d93\u9a57\u503c\u5dee\u4e0d\u4e86\u591a\u5c11\uff09\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u771f\u6b63\u9700\u8981\u7559\u610f\u7684\u662f\u5169\u4ef6\u4e8b\uff1a<\/p>\n\n<ul class=\"wp-block-list\">\n<li>\u7528\u9650\u50f9\u55ae\uff0c\u4e0d\u8ffd\u50f9\uff1a\u958b\u76e4\u5f8c\u5e7e\u5206\u9418\u6d88\u606f\u9084\u5728\u6d88\u5316\uff0c\u4ee5\u5e02\u50f9\u55ae\u8ffd\u9032\u5bb9\u6613\u6210\u4ea4\u5728\u4e0d\u7406\u60f3\u7684\u50f9\u4f4d\uff0c\u8a2d\u5b9a\u53ef\u4ee5\u63a5\u53d7\u7684\u50f9\u683c\uff0c\u6210\u4ea4\u4e0d\u4e86\u5c31\u9694\u5929\u518d\u8cb7<\/li>\n<li>\u5c0f\u984d\u7528\u96f6\u80a1\uff0c\u7dad\u6301\u898f\u5f8b\uff1a\u6bcf\u6708\u56fa\u5b9a\u65e5\u671f\u3001\u56fa\u5b9a\u91d1\u984d\u8cb7\u9032\uff0c\u6bd4\u6bcf\u5929\u731c\u5e7e\u9ede\u9032\u5834\u66f4\u5bb9\u6613\u6301\u7e8c\uff0c\u53f0\u80a1\u76e4\u4e2d\u96f6\u80a1\u8207\u76e4\u5f8c\u96f6\u80a1\u90fd\u80fd\u505a\u5230<sup>[3]<\/sup><\/li>\n<\/ul>\n\n<h2 class=\"wp-block-heading\">\u57fa\u672c\u9762\u3001\u6280\u8853\u9762\u3001\u5e02\u5834\u60c5\u7dd2\uff1a\u80fd\u770b\u4ec0\u9ebc\uff0c\u4e0d\u80fd\u770b\u4ec0\u9ebc<\/h2>\n\n<p class=\"wp-block-paragraph\">\u5e38\u898b\u7684\u9032\u5834\u5224\u65b7\u65b9\u6cd5\u6709\u4e09\u985e\uff0c\u5404\u6709\u7528\u9014\uff0c\u4e0d\u904e\u6c92\u6709\u4e00\u7a2e\u80fd\u7a69\u5b9a\u544a\u8a34\u4f60\u660e\u5929\u6703\u6f32\u9084\u662f\u8dcc\uff0c\u64c7\u6642\u7684\u7814\u7a76\u7d50\u679c\u4e00\u518d\u843d\u5f8c\u6301\u6709\uff0c\u539f\u56e0\u4e5f\u5728\u9019\u88e1\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">\u57fa\u672c\u9762\uff1a\u5224\u65b7\u516c\u53f8\u503c\u591a\u5c11\uff0c\u4e0d\u5224\u65b7\u4f55\u6642\u6f32<\/h3>\n\n<p class=\"wp-block-paragraph\">\u57fa\u672c\u9762\u5206\u6790\u770b\u516c\u53f8\u7684\u7d93\u71df\u8207\u8ca1\u52d9\u9ad4\u8cea\uff0c\u4e3b\u8981\u6709\u4e09\u584a\uff1a\u8ca1\u52d9\u72c0\u6cc1\u770b\u8cc7\u7522\u8ca0\u50b5\u8868\u3001\u640d\u76ca\u8868\u8207\u73fe\u91d1\u6d41\u91cf\u8868\uff0c\u5e38\u7528\u8ca0\u50b5\u6bd4\u7387\u3001\u6bdb\u5229\u7387\u3001\u71df\u696d\u5229\u76ca\u7387\u3001\u71df\u696d\u6d3b\u52d5\u73fe\u91d1\u6d41\u91cf\uff1b\u7522\u696d\u524d\u666f\u770b\u5e02\u5834\u9700\u6c42\u3001\u7af6\u722d\u74b0\u5883\u8207\u653f\u7b56\u6cd5\u898f\uff0c\u8cc7\u6599\u4f86\u81ea\u5e74\u5831\u3001\u6cd5\u8aaa\u6703\u63ed\u9732\u7684\u71df\u6536\u7d50\u69cb\u8207\u5c55\u671b\uff1b\u4f30\u503c\u770b\u80a1\u50f9\u76f8\u5c0d\u7372\u5229\u6216\u6de8\u503c\u662f\u5426\u504f\u9ad8\uff0c\u5e38\u7528\u672c\u76ca\u6bd4\uff08P\/E\uff09\u3001\u80a1\u50f9\u6de8\u503c\u6bd4\uff08P\/B\uff09\u3001\u80a1\u50f9\u71df\u6536\u6bd4\uff08P\/S\uff09\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u4f30\u503c\u6307\u6a19\u80fd\u544a\u8a34\u4f60\u73fe\u5728\u7684\u50f9\u683c\u504f\u8cb4\u9084\u662f\u504f\u4fbf\u5b9c\uff0c\u4e0d\u904e\u4fbf\u5b9c\u7684\u80a1\u7968\u53ef\u4ee5\u66f4\u4fbf\u5b9c\u5f88\u4e45\uff0c\u8cb4\u7684\u4e5f\u53ef\u4ee5\u66f4\u8cb4\uff0c\u628a\u4f30\u503c\u653e\u5927\u5230\u6574\u500b\u5e02\u5834\uff0c\u6700\u5e38\u88ab\u5f15\u7528\u7684\u662f\u5e2d\u52d2\u672c\u76ca\u6bd4\uff0c\u5b83\u548c\u672a\u4f86\u5341\u5e74\u5831\u916c\u7684\u95dc\u4fc2\u3001\u70ba\u4ec0\u9ebc\u4e0d\u80fd\u62ff\u4f86\u6293\u77ed\u671f\u9ad8\u4f4e\u9ede\uff0c\u6574\u7406\u5728<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=1813\">\u5e2d\u52d2\u672c\u76ca\u6bd4 CAPE Ratio \u662f\u4ec0\u9ebc\uff1f<\/a>\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">\u6280\u8853\u9762\uff1a\u63cf\u8ff0\u904e\u53bb\u7684\u50f9\u683c\uff0c\u4e0d\u4fdd\u8b49\u672a\u4f86\u7684\u8d70\u52e2<\/h3>\n\n<p class=\"wp-block-paragraph\">\u6280\u8853\u5206\u6790\u7528\u50f9\u683c\u8207\u6210\u4ea4\u91cf\u7684\u6b77\u53f2\u8cc7\u6599\u5224\u65b7\u8da8\u52e2\uff0c\u5e38\u898b\u5de5\u5177\u5305\u62ec\uff1a<\/p>\n\n<figure class=\"wp-block-table\"><table>\n<thead>\n<tr>\n<th>\u5de5\u5177<\/th>\n<th>\u4e00\u822c\u89e3\u8b80<\/th>\n<th>\u9650\u5236<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>K \u7dda\u5716<\/td>\n<td>\u958b\u76e4\u3001\u6536\u76e4\u3001\u6700\u9ad8\u3001\u6700\u4f4e\u56db\u500b\u50f9\u683c\uff0c\u770b\u591a\u7a7a\u529b\u9053<\/td>\n<td>\u540c\u4e00\u578b\u614b\u5728\u4e0d\u540c\u5e02\u5834\u3001\u4e0d\u540c\u6642\u671f\u7684\u7d50\u679c\u5dee\u7570\u5927<\/td>\n<\/tr>\n<tr>\n<td>\u79fb\u52d5\u5e73\u5747\u7dda<\/td>\n<td>\u77ed\u671f\u5747\u7dda\u4e0a\u7a7f\u9577\u671f\u5747\u7dda\u7a31\u9ec3\u91d1\u4ea4\u53c9\uff0c\u4e0b\u7a7f\u7a31\u6b7b\u4ea1\u4ea4\u53c9<\/td>\n<td>\u5747\u7dda\u662f\u843d\u5f8c\u6307\u6a19\uff0c\u8a0a\u865f\u51fa\u73fe\u6642\u50f9\u683c\u901a\u5e38\u5df2\u7d93\u8d70\u4e86\u4e00\u6bb5<\/td>\n<\/tr>\n<tr>\n<td>RSI \u76f8\u5c0d\u5f37\u5f31\u6307\u6578<\/td>\n<td>\u9ad8\u65bc 70 \u8996\u70ba\u8d85\u8cb7\u3001\u4f4e\u65bc 30 \u8996\u70ba\u8d85\u8ce3<\/td>\n<td>\u5f37\u52e2\u884c\u60c5\u4e2d\u53ef\u4ee5\u9577\u671f\u505c\u5728\u8d85\u8cb7\u5340<\/td>\n<\/tr>\n<tr>\n<td>MACD<\/td>\n<td>\u5feb\u6162\u7dda\u4ea4\u53c9\u5224\u65b7\u8f49\u6298<\/td>\n<td>\u76e4\u6574\u6642\u5bb9\u6613\u53cd\u8986\u51fa\u73fe\u5047\u8a0a\u865f<\/td>\n<\/tr>\n<tr>\n<td>\u5e03\u6797\u901a\u9053<\/td>\n<td>\u50f9\u683c\u89f8\u53ca\u4e0a\u4e0b\u8ecc\u5224\u65b7\u6ce2\u52d5\u5340\u9593<\/td>\n<td>\u7a81\u7834\u4e0a\u8ecc\u53ef\u80fd\u662f\u8f49\u5f31\uff0c\u4e5f\u53ef\u80fd\u662f\u8da8\u52e2\u958b\u59cb<\/td>\n<\/tr>\n<tr>\n<td>\u652f\u6490\u8207\u963b\u529b<\/td>\n<td>\u50f9\u683c\u4e0d\u6613\u8dcc\u7834\u6216\u7a81\u7834\u7684\u5340\u9593<\/td>\n<td>\u5340\u9593\u662f\u4e8b\u5f8c\u756b\u51fa\u4f86\u7684\uff0c\u8dcc\u7834\u5f8c\u5e38\u9700\u8981\u91cd\u756b<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/figure>\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2024\/07\/image-2.png\" alt=\"\u6a21\u64ec\u80a1\u50f9\u8d70\u52e2\u5716\uff0c\u7d05\u8272\u865b\u7dda\u70ba 45 \u7f8e\u5143\u652f\u6490\u4f4d\u3001\u7da0\u8272\u865b\u7dda\u70ba 55 \u7f8e\u5143\u963b\u529b\u4f4d\uff0c\u80a1\u50f9\u5728\u5169\u8005\u4e4b\u9593\u4f86\u56de\u6ce2\u52d5\"\/><figcaption class=\"wp-element-caption\">\u6a21\u64ec\u8cc7\u6599\uff0c\u50c5\u793a\u610f\u652f\u6490\u4f4d\u8207\u963b\u529b\u4f4d\u7684\u6982\u5ff5\uff0c\u4e0d\u4ee3\u8868\u4efb\u4f55\u500b\u5225\u80a1\u7968<\/figcaption><\/figure>\n\n<p class=\"wp-block-paragraph\">\u6280\u8853\u6307\u6a19\u7684\u5171\u901a\u9ede\u662f\u7528\u904e\u53bb\u7684\u50f9\u683c\u63a8\u4f30\u672a\u4f86\uff0c\u8a0a\u865f\u5e38\u5e38\u4e92\u76f8\u77db\u76fe\uff0c\u4e5f\u6703\u56e0\u53c3\u6578\u4e0d\u540c\u5f97\u51fa\u76f8\u53cd\u7d50\u8ad6\uff0c\u628a\u6280\u8853\u9762\u7576\u6210\u300c\u73fe\u5728\u5e02\u5834\u5728\u60f3\u4ec0\u9ebc\u300d\u7684\u63cf\u8ff0\uff0c\u6bd4\u7576\u6210\u8cb7\u8ce3\u8a0a\u865f\u66f4\u8cbc\u8fd1\u5b83\u7684\u5be6\u969b\u80fd\u529b\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">\u5e02\u5834\u60c5\u7dd2\uff1a\u6975\u7aef\u6642\u6700\u96e3\u7167\u8457\u505a<\/h3>\n\n<p class=\"wp-block-paragraph\">\u6050\u61fc\u8207\u8caa\u5a6a\u6307\u6578\u3001VIX \u6ce2\u52d5\u7387\u6307\u6578\u9019\u985e\u6307\u6a19\uff0c\u53cd\u6620\u6295\u8cc7\u4eba\u7576\u4e0b\u7684\u60c5\u7dd2\uff0c\u7406\u8ad6\u4e0a\u300c\u5225\u4eba\u6050\u61fc\u6642\u9032\u5834\u300d\u5f88\u5408\u7406\uff0c\u5be6\u969b\u4e0a\u5728\u6307\u6578\u8df3\u6c34\u3001\u65b0\u805e\u4e00\u7247\u60b2\u89c0\u7684\u90a3\u5e7e\u5929\uff0c\u9858\u610f\u52a0\u78bc\u7684\u4eba\u5f88\u5c11\uff08\u8aaa\u5be6\u5728\uff0c\u77e5\u9053\u548c\u505a\u5230\u662f\u5169\u56de\u4e8b\uff09\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">J.P. Morgan \u7684\u8cc7\u6599\u986f\u793a\u6700\u597d\u7684\u65e5\u5b50\u5e38\u5728\u6700\u5dee\u7684\u65e5\u5b50\u5f8c\u5169\u9031\u5167\u51fa\u73fe<sup>[1]<\/sup>\uff0c\u60c5\u7dd2\u6307\u6a19\u6700\u6975\u7aef\u7684\u6642\u5019\uff0c\u5f80\u5f80\u4e5f\u662f\u6700\u96e3\u7167\u8457\u8a08\u756b\u8d70\u7684\u6642\u5019\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u80a1\u7968\u4ec0\u9ebc\u6642\u5019\u6703\u6f32\uff1f\u4ec0\u9ebc\u6642\u5019\u8a72\u8ce3\uff1f<\/h2>\n\n<p class=\"wp-block-paragraph\">\u300c\u80a1\u7968\u4ec0\u9ebc\u6642\u5019\u6703\u6f32\u300d\u300c\u80a1\u7968\u8981\u8dcc\u5230\u4ec0\u9ebc\u6642\u5019\u300d\u6c92\u6709\u4eba\u80fd\u4e8b\u5148\u56de\u7b54\uff1b\u82e5\u6709\u4eba\u80fd\u7a69\u5b9a\u56de\u7b54\uff0cMorningstar \u7d71\u8a08\u7684\u6295\u8cc7\u4eba\u5831\u916c\u843d\u5dee\u5c31\u4e0d\u6703\u5e74\u5e74\u51fa\u73fe<sup>[4]<\/sup>\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u6bd4\u8f03\u80fd\u56de\u7b54\u7684\u662f\u53e6\u4e00\u500b\u554f\u984c\uff0c\u4ec0\u9ebc\u60c5\u6cc1\u4e0b\uff0c\u8ce3\u51fa\u662f\u5408\u7406\u7684\u6c7a\u5b9a\uff1f<\/p>\n\n<ul class=\"wp-block-list\">\n<li>\u8cc7\u91d1\u6709\u7528\u9014\uff1a\u9322\u5728\u4e00\u5169\u5e74\u5167\u8981\u7528\uff0c\u4f8b\u5982\u8cb7\u623f\u982d\u671f\u6b3e\u6216\u5b78\u8cbb\uff0c\u5c31\u4e0d\u9069\u5408\u653e\u5728\u80a1\u7968\uff0c\u61c9\u63d0\u65e9\u79fb\u5230\u6ce2\u52d5\u4f4e\u7684\u8cc7\u7522<\/li>\n<li>\u914d\u7f6e\u504f\u96e2\u592a\u591a\uff1a\u80a1\u7968\u6f32\u591a\u4e86\uff0c\u5360\u6574\u9ad4\u8cc7\u7522\u7684\u6bd4\u4f8b\u8d85\u51fa\u539f\u672c\u898f\u5283\uff0c\u8ce3\u51fa\u4e00\u90e8\u5206\u56de\u5230\u539f\u6bd4\u4f8b\uff0c\u9019\u53eb\u518d\u5e73\u8861\uff0c\u8ce3\u7684\u7406\u7531\u662f\u6bd4\u4f8b\uff0c\u8207\u9810\u6e2c\u7121\u95dc<\/li>\n<li>\u6301\u6709\u7684\u7406\u7531\u6d88\u5931\uff1a\u5982\u679c\u8cb7\u7684\u662f\u500b\u5225\u516c\u53f8\uff0c\u516c\u53f8\u7684\u57fa\u672c\u9762\u51fa\u73fe\u7576\u521d\u6c92\u9810\u671f\u7684\u8b8a\u5316\uff0c\u5c31\u8a72\u91cd\u65b0\u8a55\u4f30<\/li>\n<\/ul>\n\n<p class=\"wp-block-paragraph\">\u53cd\u904e\u4f86\u8aaa\uff0c\u300c\u56e0\u70ba\u5927\u8dcc\u6240\u4ee5\u8ce3\u300d\u300c\u56e0\u70ba\u65b0\u805e\u8aaa\u8981\u5d29\u76e4\u6240\u4ee5\u8ce3\u300d\uff0c\u90fd\u662f\u7528\u9810\u6e2c\u505a\u6c7a\u5b9a\uff0cJ.P. Morgan \u932f\u904e\u6700\u597d 10 \u5929\u7684\u8a66\u7b97\uff0c\u5c31\u662f\u9019\u7a2e\u6c7a\u5b9a\u7684\u9577\u671f\u6210\u672c<sup>[1]<\/sup>\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u9032\u5834\u8207\u51fa\u5834\u90fd\u56de\u5230\u540c\u4e00\u500b\u554f\u984c\uff0c\u9019\u7b46\u9322\u8981\u653e\u591a\u4e45\u3001\u80fd\u627f\u53d7\u591a\u5927\u7684\u6ce2\u52d5\uff0c\u80a1\u7968\u3001\u50b5\u5238\u5404\u653e\u591a\u5c11\uff0c\u6703\u6bd4\u54ea\u5929\u8cb7\u3001\u5e7e\u9ede\u8cb7\u5f71\u97ff\u66f4\u5927\uff0c\u7d44\u5408\u600e\u9ebc\u642d\u914d\u3001\u5982\u4f55\u5206\u6563\uff0c<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=8918\">\u963f\u723e\u767c\u5982\u4f55\u5efa\u69cb\u6295\u8cc7\u7d44\u5408\uff1f<\/a>\u8aaa\u660e\u4e86\u8cc7\u7522\u914d\u7f6e\u7684\u89c0\u5ff5\u8207\u963f\u723e\u767c\u63d0\u4f9b\u7684\u670d\u52d9\u7bc4\u570d\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u8907\u5229\uff1a\u6301\u6709\u6642\u9593\u6bd4\u9032\u5834\u9ede\u91cd\u8981<\/h2>\n\n<p class=\"wp-block-paragraph\">\u70ba\u4ec0\u9ebc\u6bcf\u6b21\u90fd\u8cb7\u5728\u9ad8\u9ede\uff0c\u9577\u671f\u7d50\u679c\u4ecd\u7136\u4e0d\u5dee\uff1f<\/p>\n\n<p class=\"wp-block-paragraph\">\u539f\u56e0\u6709\u5169\u500b\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u7b2c\u4e00\uff0c\u80a1\u5e02\u9577\u671f\u5411\u4e0a\u7684\u6642\u9593\u591a\u65bc\u5411\u4e0b\uff0cSchwab \u7d71\u8a08\u4efb\u53d6 12 \u500b\u6708\uff0cS&amp;P 500 \u4e0a\u6f32\u7684\u6bd4\u4f8b\u7d04 75.6%<sup>[2]<\/sup>\uff0cVanguard \u4e5f\u6307\u51fa 1976\u20132022 \u5e74\uff0c\u7f8e\u570b\u80a1\u7968\u6709 76% \u7684\u6642\u9593\u8868\u73fe\u512a\u65bc\u73fe\u91d1<sup>[5]<\/sup>\uff0c\u5206\u6563\u5230\u5168\u7403\u3001\u642d\u914d\u50b5\u5238\uff0c\u9084\u80fd\u964d\u4f4e\u55ae\u4e00\u5e02\u5834\u9577\u671f\u4f4e\u8ff7\u7684\u98a8\u96aa\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u7b2c\u4e8c\uff0c\u8907\u5229\u9700\u8981\u6642\u9593\uff0c\u4ee5\u5e74\u5831\u916c 8% \u8a66\u7b97\uff0c\u5f8c\u5341\u5e74\u589e\u52a0\u7684\u91d1\u984d\u662f\u524d\u5341\u5e74\u7684\u5169\u500d\u4ee5\u4e0a\uff08\u8a66\u7b97\uff0c\u5047\u8a2d\u6bcf\u5e74\u5831\u916c\u56fa\u5b9a\uff0c\u4e0d\u4ee3\u8868\u4efb\u4f55\u5546\u54c1\u7684\u9810\u671f\u5831\u916c\uff09\uff0c\u9032\u5834\u6642\u6a5f\u5dee\u4e00\u9ede\uff0c\u640d\u5931\u7684\u662f\u8d77\u9ede\u7684\u5e7e\u500b\u767e\u5206\u9ede\uff1b\u63d0\u65e9\u51fa\u5834\u6216\u9072\u9072\u4e0d\u9032\u5834\uff0c\u640d\u5931\u7684\u662f\u5f8c\u9762\u6700\u5927\u7684\u90a3\u4e00\u6bb5\u8907\u5229\u3002<\/p>\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2026\/10\/2244_\u8907\u5229\u6642\u9593.png\" alt=\"100 \u5143\u4ee5\u6bcf\u5e74 8% \u8907\u5229\u6210\u9577\uff1a10 \u5e74\u5f8c\u7d04 216 \u5143\u300120 \u5e74\u5f8c\u7d04 466 \u5143\uff0c\u524d 10 \u5e74\u591a 116 \u5143\uff0c\u5f8c 10 \u5e74\u591a 250 \u5143\"\/><figcaption class=\"wp-element-caption\">\u8cc7\u6599\u4f86\u6e90\uff1a\u963f\u723e\u767c\u6295\u8cc7\u7814\u7a76\u5718\u968a\u8a66\u7b97\uff1b\u5047\u8a2d\u6bcf\u5e74\u5831\u916c\u56fa\u5b9a 8%\uff0c\u4e0d\u4ee3\u8868\u4efb\u4f55\u5546\u54c1\u7684\u9810\u671f\u5831\u916c<\/figcaption><\/figure>\n\n<p class=\"wp-block-paragraph\">\u6240\u4ee5\u6bd4\u8d77\u554f\u300c\u4ec0\u9ebc\u6642\u5019\u662f\u6700\u597d\u7684\u9032\u5834\u6642\u6a5f\u300d\uff0c\u66f4\u5be6\u969b\u7684\u505a\u6cd5\u662f\uff1a<strong>\u6709\u9592\u9322\u5c31\u4f9d\u8a08\u756b\u6295\u5165\uff0c\u4e0d\u8ad6\u9ad8\u9ede\u4f4e\u9ede\u90fd\u6301\u7e8c\u8cb7\u9032\u4e26\u6301\u6709\uff0c\u518d\u7528\u8cc7\u7522\u914d\u7f6e\u63a7\u5236\u81ea\u5df1\u627f\u53d7\u5f97\u4e86\u7684\u6ce2\u52d5\u3002<\/strong><\/p>\n\n<h2 class=\"wp-block-heading\">\u6211\u7684\u60f3\u6cd5<\/h2>\n\n<p class=\"wp-block-paragraph\">\u6211\u89ba\u5f97\u300c\u4ec0\u9ebc\u6642\u5019\u9032\u5834\u300d\u9019\u500b\u554f\u984c\uff0c\u554f\u7684\u4eba\u591a\u534a\u5176\u5be6\u662f\u5728\u554f\u300c\u6211\u6703\u4e0d\u6703\u8cb7\u4e86\u5c31\u8dcc\u300d\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u6703\uff0c\u800c\u4e14\u4e00\u5b9a\u6703\u9047\u5230\uff0cS&amp;P 500 \u90a3\u516d\u6b21\u5927\u8dcc\uff0c\u6bcf\u4e00\u6b21\u90fd\u6709\u4eba\u525b\u597d\u8cb7\u5728\u524d\u9762\uff0c\u5e33\u9762\u4e0a\u770b\u5230\u5169\u6210\u5230\u4e94\u6210\u7684\u640d\u5931\uff0c\u9019\u7a2e\u611f\u89ba\u5f88\u771f\u5be6\uff0c\u6578\u5b57\u518d\u6f02\u4eae\u4e5f\u5f88\u96e3\u8b93\u4eba\u4e0d\u6015\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u4e0d\u904e Schwab \u7684\u8a66\u7b97\u628a\u9019\u4ef6\u4e8b\u8b1b\u5f97\u5f88\u6e05\u695a\uff0c\u6bcf\u5e74\u90fd\u8cb7\u5728\u6700\u9ad8\u9ede\u7684\u4eba\uff0c20 \u5e74\u5f8c\u662f 151,343 \u7f8e\u5143\uff0c\u4e00\u76f4\u7b49\u5f85\u7684\u4eba\u662f 47,357 \u7f8e\u5143\uff0c\u904b\u6c23\u6700\u5dee\u7684\u9032\u5834\uff0c\u9084\u662f\u8d0f\u904e\u4e0d\u9032\u5834\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u6240\u4ee5\u6211\u6bd4\u8f03\u5728\u610f\u7684\u4e0d\u662f\u9032\u5834\u90a3\u4e00\u5929\uff0c\u662f\u9032\u5834\u4e4b\u5f8c\u80fd\u4e0d\u80fd\u4e00\u76f4\u639b\u8457\uff0c\u932f\u904e\u6700\u597d\u7684 10 \u5929\uff0c\u5e74\u5316\u5831\u916c\u5c31\u5f9e 11.0% \u6389\u5230 6.6%\uff0c\u800c\u90a3 10 \u5929\u591a\u534a\u5c31\u85cf\u5728\u6700\u96e3\u71ac\u7684\u90a3\u5e7e\u9031\u88e1\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u4e0b\u4e00\u6b21\u5927\u8dcc\u6703\u5728\u4ec0\u9ebc\u6642\u5019\uff0c\u6211\u4e0d\u77e5\u9053\uff0c\u6c92\u6709\u4eba\u77e5\u9053\uff0c\u6211\u80fd\u78ba\u5b9a\u7684\u53ea\u6709\u4e00\u4ef6\u4e8b\uff0c\u639b\u8457\u7684\u4eba\u624d\u62ff\u5f97\u5230\u7d93\u9a57\u503c\u3002<\/p>\n\n<p class=\"wp-block-paragraph\">\u4f60\u53ef\u4ee5\u60f3\u4e00\u60f3\uff0c\u9019\u7b46\u9322\u6253\u7b97\u639b\u591a\u4e45\uff1f<\/p>\n\n\n<div class=\"wp-block-group alpha-cta alpha-cta-end alpha-cta-alloc has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"background-color:#f3f7fb;padding:32px 20px\">\n<p class=\"has-text-align-center wp-block-paragraph\" style=\"font-size:clamp(16.834px, 1.052rem + ((1vw - 3.2px) * 0.716), 26px);font-weight:700\">\u5148\u7b97\u4e00\u6b21\uff0c\u518d\u6c7a\u5b9a\u600e\u9ebc\u914d<\/p>\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">\u8f38\u5165\u91d1\u984d\u3001\u671f\u9593\u8207\u76ee\u6a19\uff0c\u770b\u80a1\u50b5\u6bd4\u4f8b\u8207\u53ef\u80fd\u7684\u5831\u916c\u7bc4\u570d\uff1b\u8a66\u7b97\u7d50\u679c\u50c5\u4f9b\u53c3\u8003\uff0c\u4e0d\u4ee3\u8868\u672a\u4f86\u7e3e\u6548<\/p>\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-fe0a7de2 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/roboadvisor.com.tw\/portfolio-calculator\/?Camp=Blog\" style=\"border-radius:50px;color:#ffffff;background-color:#006ece;border:2px solid #006ece;font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.234), 17px);line-height:1.4;padding:10px 26px\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>\u514d\u8cbb\u8a66\u7b97\u6211\u7684\u6295\u8cc7\u7d44\u5408<\/strong><\/a><\/div>\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/urli.ai\/line\/XpZpxkKi\" style=\"border-radius:50px;color:#00b900;background-color:#ffffff;border:2px solid #00b900;font-size:clamp(14px, 0.875rem + ((1vw - 3.2px) * 0.234), 17px);line-height:1.4;padding:10px 26px\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>\u52a0 LINE \u554f\u9867\u554f<\/strong><\/a><\/div>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\">\u5e38\u898b\u554f\u984c<\/h2>\n\n<h3 class=\"wp-block-heading\">\u80a1\u7968\u8cb7\u5728\u9ad8\u9ede\u600e\u9ebc\u8fa6\uff1f<\/h3>\n\n<p class=\"wp-block-paragraph\">\u5148\u78ba\u8a8d\u9019\u7b46\u9322\u7684\u7528\u9014\u8207\u6642\u9593\uff0c\u82e5\u662f\u4e94\u5e74\u4ee5\u4e0a\u7528\u4e0d\u5230\u7684\u9577\u671f\u8cc7\u91d1\uff0c\u6b77\u53f2\u8cc7\u6599\u986f\u793a\u8cb7\u5728\u9ad8\u9ede\u7684\u5f71\u97ff\u6703\u96a8\u6642\u9593\u6524\u5e73\uff0cSchwab \u7684\u300c\u6700\u5dee\u64c7\u6642\u300d\u6295\u8cc7\u4eba\u9023\u7e8c 20 \u5e74\u8cb7\u5728\u5168\u5e74\u6700\u9ad8\u9ede\uff0c\u671f\u672b\u4ecd\u6709 151,343 \u7f8e\u5143\uff0c\u9060\u9ad8\u65bc\u4e00\u76f4\u7b49\u5f85\u7684 47,357 \u7f8e\u5143<sup>[2]<\/sup>\uff0c\u82e5\u662f\u77ed\u671f\u5167\u8981\u7528\u7684\u9322\uff0c\u9019\u7b46\u9322\u4e00\u958b\u59cb\u5c31\u4e0d\u9069\u5408\u653e\u5728\u80a1\u7968\uff0c\u8207\u8cb7\u5728\u9ad8\u9ede\u6216\u4f4e\u9ede\u7121\u95dc\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">\u53f0\u80a1\u5275\u65b0\u9ad8\uff0c\u9084\u80fd\u9032\u5834\u55ce\uff1f<\/h3>\n\n<p class=\"wp-block-paragraph\">\u5275\u65b0\u9ad8\u672c\u8eab\u4e0d\u662f\u8ce3\u51fa\u6216\u4e0d\u9032\u5834\u7684\u7406\u7531\uff0c\u80a1\u5e02\u9577\u671f\u5411\u4e0a\uff0c\u6b77\u53f2\u65b0\u9ad8\u6703\u53cd\u8986\u51fa\u73fe\uff1bSchwab \u7814\u7a76\u7684\u51fa\u767c\u9ede\u6b63\u662f\u300c\u5e02\u5834\u525b\u5275\u65b0\u9ad8\uff0c\u8981\u4e0d\u8981\u7b49\u300d\uff0c\u7d50\u8ad6\u662f\u7acb\u5373\u6295\u5165\u5728 80 \u500b 20 \u5e74\u671f\u9593\u4e2d\u5f9e\u672a\u6392\u5230\u6700\u5f8c<sup>[2]<\/sup>\uff0c\u6bd4\u8d77\u6307\u6578\u4f4d\u7f6e\uff0c\u66f4\u8a72\u6aa2\u67e5\u7684\u662f\u6301\u80a1\u662f\u5426\u904e\u5ea6\u96c6\u4e2d\u5728\u5c11\u6578\u7522\u696d\u6216\u500b\u80a1\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">\u5b9a\u671f\u5b9a\u984d\u53ef\u4ee5\u89e3\u6c7a\u9032\u5834\u6642\u6a5f\u7684\u554f\u984c\u55ce\uff1f<\/h3>\n\n<p class=\"wp-block-paragraph\">\u53ef\u4ee5\u964d\u4f4e\u5c0d\u6642\u6a5f\u7684\u7126\u616e\uff0cSchwab \u7814\u7a76\u88e1\u6bcf\u6708\u5e73\u5747\u6295\u5165\u7684\u300c\u5b9a\u671f\u6295\u5165\u300d\uff0c20 \u5e74\u5f8c\u7684\u6210\u679c\u53ea\u6bd4\u4e00\u6b21\u6295\u5165\u5c11\u7d04 2%\uff0c\u9060\u52dd\u4e00\u76f4\u7b49\u5f85<sup>[2]<\/sup>\u3002\u624b\u4e0a\u5df2\u7d93\u6709\u4e00\u6574\u7b46\u9322\u6642\uff0cVanguard \u7684\u7814\u7a76\u986f\u793a\u4e00\u6b21\u6295\u5165\u7d04\u4e09\u5206\u4e4b\u4e8c\u7684\u6a5f\u7387\u52dd\u904e\u5206\u6279<sup>[5]<\/sup>\uff0c\u5169\u7a2e\u505a\u6cd5\u7684\u53d6\u6368\u5728<a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=8077\">\u55ae\u7b46\u6295\u8cc7 vs \u5b9a\u671f\u5b9a\u984d\u54ea\u500b\u597d\uff1f<\/a>\u6709\u5b8c\u6574\u6bd4\u8f03\u3002<\/p>\n\n<h3 class=\"wp-block-heading\">\u65b0\u624b\u770b\u80a1\u7968\uff0c\u8981\u5148\u770b\u6280\u8853\u9762\u9084\u662f\u57fa\u672c\u9762\uff1f<\/h3>\n\n<p class=\"wp-block-paragraph\">\u5982\u679c\u662f\u9577\u671f\u6295\u8cc7\uff0c\u5148\u6c7a\u5b9a\u80a1\u7968\u8207\u50b5\u5238\u7684\u6bd4\u4f8b\uff0c\u518d\u9078\u64c7\u5206\u6563\u5ea6\u9ad8\u7684\u6307\u6578\u578b\u5546\u54c1\uff0c\u500b\u5225\u516c\u53f8\u7684\u6280\u8853\u9762\u8207\u57fa\u672c\u9762\u53ef\u4ee5\u665a\u4e00\u9ede\u5b78\uff0c\u5982\u679c\u8981\u8cb7\u500b\u5225\u516c\u53f8\uff0c\u57fa\u672c\u9762\u6c7a\u5b9a\u9019\u5bb6\u516c\u53f8\u503c\u4e0d\u503c\u5f97\u6301\u6709\uff0c\u6280\u8853\u9762\u9802\u591a\u5e6b\u52a9\u7406\u89e3\u5e02\u5834\u60c5\u7dd2\uff1b\u5169\u8005\u90fd\u4e0d\u80fd\u4fdd\u8b49\u77ed\u671f\u6f32\u8dcc\u3002<\/p>\n\n<h2 class=\"wp-block-heading\">\u5ef6\u4f38\u95b1\u8b80<\/h2>\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=8077\">\u55ae\u7b46\u6295\u8cc7 vs \u5b9a\u671f\u5b9a\u984d\u54ea\u500b\u597d\uff1f<\/a>\uff1a\u9069\u5408\u624b\u4e0a\u6709\u4e00\u7b46\u9322\u3001\u60f3\u77e5\u9053\u4e00\u6b21\u6295\u5165\u9084\u662f\u5206\u6279\u7684\u4eba<\/li>\n<li><a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=8918\">\u963f\u723e\u767c\u5982\u4f55\u5efa\u69cb\u6295\u8cc7\u7d44\u5408\uff1f<\/a>\uff1a\u9069\u5408\u60f3\u77e5\u9053\u80a1\u7968\u3001\u50b5\u5238\u5404\u653e\u591a\u5c11\uff0c\u7528\u914d\u7f6e\u53d6\u4ee3\u64c7\u6642\u7684\u4eba<\/li>\n<li><a href=\"https:\/\/blog.roboadvisor.com.tw\/?p=2236\">\u80a1\u5e02\u5927\u5d29\u76e4\u6709\u4ec0\u9ebc\u524d\u5146\uff1f<\/a>\uff1a\u9069\u5408\u60f3\u4e86\u89e3\u5927\u8dcc\u524d\u5f8c\u5e02\u5834\u767c\u751f\u4e86\u4ec0\u9ebc\u7684\u4eba<\/li>\n<\/ul>\n\n<script type=\"application\/ld+json\">{\"@context\": \"https:\/\/schema.org\", \"@type\": \"FAQPage\", \"mainEntity\": [{\"@type\": \"Question\", \"name\": \"\u80a1\u7968\u8cb7\u5728\u9ad8\u9ede\u600e\u9ebc\u8fa6\uff1f\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"\u5148\u78ba\u8a8d\u9019\u7b46\u9322\u7684\u7528\u9014\u8207\u6642\u9593\uff0c\u82e5\u662f\u4e94\u5e74\u4ee5\u4e0a\u7528\u4e0d\u5230\u7684\u9577\u671f\u8cc7\u91d1\uff0c\u6b77\u53f2\u8cc7\u6599\u986f\u793a\u8cb7\u5728\u9ad8\u9ede\u7684\u5f71\u97ff\u6703\u96a8\u6642\u9593\u6524\u5e73\uff0cSchwab \u7684\u300c\u6700\u5dee\u64c7\u6642\u300d\u6295\u8cc7\u4eba\u9023\u7e8c 20 \u5e74\u8cb7\u5728\u5168\u5e74\u6700\u9ad8\u9ede\uff0c\u671f\u672b\u4ecd\u6709 151,343 \u7f8e\u5143\uff0c\u9060\u9ad8\u65bc\u4e00\u76f4\u7b49\u5f85\u7684 47,357 \u7f8e\u5143<sup>[2]<\/sup>\uff0c\u82e5\u662f\u77ed\u671f\u5167\u8981\u7528\u7684\u9322\uff0c\u9019\u7b46\u9322\u4e00\u958b\u59cb\u5c31\u4e0d\u9069\u5408\u653e\u5728\u80a1\u7968\uff0c\u8207\u8cb7\u5728\u9ad8\u9ede\u6216\u4f4e\u9ede\u7121\u95dc\u3002\"}}, {\"@type\": \"Question\", \"name\": \"\u53f0\u80a1\u5275\u65b0\u9ad8\uff0c\u9084\u80fd\u9032\u5834\u55ce\uff1f\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": 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\u7814\u7a76\u88e1\u6bcf\u6708\u5e73\u5747\u6295\u5165\u7684\u300c\u5b9a\u671f\u6295\u5165\u300d\uff0c20 \u5e74\u5f8c\u7684\u6210\u679c\u53ea\u6bd4\u4e00\u6b21\u6295\u5165\u5c11\u7d04 2%\uff0c\u9060\u52dd\u4e00\u76f4\u7b49\u5f85<sup>[2]<\/sup>\u3002\u624b\u4e0a\u5df2\u7d93\u6709\u4e00\u6574\u7b46\u9322\u6642\uff0cVanguard \u7684\u7814\u7a76\u986f\u793a\u4e00\u6b21\u6295\u5165\u7d04\u4e09\u5206\u4e4b\u4e8c\u7684\u6a5f\u7387\u52dd\u904e\u5206\u6279<sup>[5]<\/sup>\uff0c\u5169\u7a2e\u505a\u6cd5\u7684\u53d6\u6368\u5728[\u55ae\u7b46\u6295\u8cc7 vs \u5b9a\u671f\u5b9a\u984d\u54ea\u500b\u597d\uff1f](https:\/\/blog.roboadvisor.com.tw\/?p=8077)\u6709\u5b8c\u6574\u6bd4\u8f03\u3002\"}}, {\"@type\": \"Question\", \"name\": \"\u65b0\u624b\u770b\u80a1\u7968\uff0c\u8981\u5148\u770b\u6280\u8853\u9762\u9084\u662f\u57fa\u672c\u9762\uff1f\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"\u5982\u679c\u662f\u9577\u671f\u6295\u8cc7\uff0c\u5148\u6c7a\u5b9a\u80a1\u7968\u8207\u50b5\u5238\u7684\u6bd4\u4f8b\uff0c\u518d\u9078\u64c7\u5206\u6563\u5ea6\u9ad8\u7684\u6307\u6578\u578b\u5546\u54c1\uff0c\u500b\u5225\u516c\u53f8\u7684\u6280\u8853\u9762\u8207\u57fa\u672c\u9762\u53ef\u4ee5\u665a\u4e00\u9ede\u5b78\uff0c\u5982\u679c\u8981\u8cb7\u500b\u5225\u516c\u53f8\uff0c\u57fa\u672c\u9762\u6c7a\u5b9a\u9019\u5bb6\u516c\u53f8\u503c\u4e0d\u503c\u5f97\u6301\u6709\uff0c\u6280\u8853\u9762\u9802\u591a\u5e6b\u52a9\u7406\u89e3\u5e02\u5834\u60c5\u7dd2\uff1b\u5169\u8005\u90fd\u4e0d\u80fd\u4fdd\u8b49\u77ed\u671f\u6f32\u8dcc\u3002\"}}]}<\/script>\n\n\n\n<h2 class=\"wp-block-heading\">\u53c3\u8003\u6587\u737b<\/h2>\n\n<ul class=\"wp-block-list\">\n<li>[1] J.P. Morgan Asset Management. (2026). <em>Guide to retirement 2026<\/em>\uff08GTR 41, Impact of being out of the market; data as of December 31, 2025\uff09. https:\/\/am.jpmorgan.com\/content\/dam\/jpm-am-aem\/global\/en\/insights\/retirement-insights\/guide-to-retirement-us.pdf<\/li>\n<li>[2] Schwab Center for Financial Research. (2025, July 18). <em>Does market timing work?<\/em> Charles Schwab. https:\/\/www.schwab.com\/learn\/story\/does-market-timing-work<\/li>\n<li>[3] \u81fa\u7063\u8b49\u5238\u4ea4\u6613\u6240\uff08\u7121\u65e5\u671f\uff09\u3002\u3008\u4ea4\u6613\u5236\u5ea6\u3009\u30022026 \u5e74 10 \u6708 19 \u65e5\u64f7\u53d6\u3002https:\/\/www.twse.com.tw\/zh\/products\/system\/trading.html<\/li>\n<li>[4] Ptak, J. (2026, August 6). <em>Mind the gap 2026<\/em>. Morningstar. https:\/\/www.morningstar.com\/business\/insights\/research\/mind-the-gap<\/li>\n<li>[5] Finlay, M., &amp; Zorn, J. (2023). <em>Cost averaging: Invest now or temporarily hold your cash?<\/em> Vanguard. https:\/\/corporate.vanguard.com\/content\/dam\/corp\/research\/pdf\/cost_averaging_invest_now_or_temporarily_hold_your_cash.pdf<\/li>\n<\/ul>\n\n<h2 class=\"wp-block-heading\">\u91cd\u8981\u8072\u660e<\/h2>\n\n<p class=\"wp-block-paragraph\">\u672c\u6587\u7531\u963f\u723e\u767c\u8b49\u5238\u6295\u8cc7\u9867\u554f\u80a1\u4efd\u6709\u9650\u516c\u53f8\u7de8\u88fd\uff0c\u50c5\u4f9b\u53c3\u8003\uff0c\u4e0d\u69cb\u6210\u4efb\u4f55\u91d1\u878d\u5546\u54c1\u4e4b\u8981\u7d04\u3001\u62db\u652c\u6216\u63a8\u4ecb\uff0c\u4ea6\u975e\u91dd\u5c0d\u7279\u5b9a\u6295\u8cc7\u4eba\u4e4b\u500b\u5225\u6295\u8cc7\u5efa\u8b70\uff1b\u6295\u8cc7\u4eba\u61c9\u4f9d\u81ea\u8eab\u8ca1\u52d9\u72c0\u6cc1\u3001\u6295\u8cc7\u76ee\u6a19\u8207\u98a8\u96aa\u627f\u53d7\u5ea6\u5be9\u614e\u8a55\u4f30\uff0c\u4e26\u81ea\u884c\u627f\u64d4\u6295\u8cc7\u98a8\u96aa\u3002\u6587\u4e2d\u6240\u5217\u6307\u6578\u8207\u7814\u7a76\u50c5\u70ba\u8aaa\u660e\u6295\u8cc7\u89c0\u5ff5\u4e4b\u4f8b\uff0c\u4e0d\u4ee3\u8868\u63a8\u85a6\u4efb\u4f55\u8ffd\u8e64\u8a72\u6307\u6578\u4e4b\u5546\u54c1\u6216\u500b\u5225\u80a1\u7968\uff1b\u6b77\u53f2\u7d71\u8a08\u8207\u5047\u8a2d\u6027\u8a66\u7b97\u4fc2\u4ee5\u6b77\u53f2\u6307\u6578\u8cc7\u6599\u8a08\u7b97\uff0c\u672a\u6263\u9664\u8cbb\u7528\u8207\u7a05\u8ca0\uff0c\u4e0d\u4ee3\u8868\u4efb\u4f55\u5be6\u969b\u5e33\u6236\u7e3e\u6548\uff1b\u60c5\u5883\u8a66\u7b97\u70ba\u5047\u8a2d\u689d\u4ef6\u4e0b\u4e4b\u7d50\u679c\uff0c\u975e\u5c0d\u672a\u4f86\u4e4b\u9810\u6e2c\u6216\u4fdd\u8b49\u3002\u904e\u53bb\u7e3e\u6548\u4e0d\u4ee3\u8868\u672a\u4f86\u8868\u73fe\u3002\u963f\u723e\u767c\u8b49\u5238\u6295\u8cc7\u9867\u554f\u80a1\u4efd\u6709\u9650\u516c\u53f8\u3000115\u91d1\u7ba1\u6295\u9867\u65b0\u5b57\u7b2c019\u865f<\/p>","protected":false},"excerpt":{"rendered":"<p>\u80a1\u7968\u9032\u5834\u6642\u6a5f\u4e0d\u5fc5\u7b49\uff1a\u932f\u904e\u6700\u597d10\u5929\uff0c\u5e74\u5316\u5831\u916c\u5f9e11.0%\u964d\u52306.6%\uff1b\u9644\u770b\u76e4\u8207\u4ea4\u6613\u6642\u6bb5\u3002<\/p>\n","protected":false},"author":2,"featured_media":17283,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_llm_markdown_disabled":false},"categories":[566],"tags":[971,968,972,969,966,965,970,964,967],"class_list":["post-2244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-566","tag-971","tag-968","tag-972","tag-969","tag-966","tag-965","tag-970","tag-964","tag-967"],"jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_featured_media_url":"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2026\/10\/00-cover-77.png","_links":{"self":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/2244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2244"}],"version-history":[{"count":6,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/2244\/revisions"}],"predecessor-version":[{"id":18323,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/2244\/revisions\/18323"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=\/wp\/v2\/media\/17283"}],"wp:attachment":[{"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.roboadvisor.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}