Advice of the Day

| July 13, 2019
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I come across so much good content and sometimes the author puts it all together making my research that much easier.

In this case Daniel Crosby has cobble together his Big List of Money Wisdom:

  • The Joneses aren’t as rich or happy as you think.
  • Get rich quick and get poor quick are sides of the same coin.
  • Your life is a better benchmark than the S&P 500.
  • The more complicated the investment advice the less useful.
  • Spend less than you make. Always.
  • Ask about anything you don’t understand.
  • A house is a place to live, not an investment.
  • No one knows what is going on with the economy.
  • Stocks tend to pay well precisely because they are so volatile.
  • Your mortgage broker is lying to you about how much house you can afford.
  • A raise in income shouldn’t mean a raise in lifestyle.
  • Forecasting is for weather people.
  • Fees erode performance.
  • Excess is never permanent.
  • You will never have “enough” money.
  • There is an inverse correlation between performance and time spent watching financial news.
  • If it depreciates, don’t pay interest on it (I’m looking at you, cars).
  • You don’t have to be rich to invest, but you have to invest to be rich.
  • Invest in your mind and your skills first.
  • Infrequent splurges bring the greatest happiness.
  • If it seems too good to be true, it is.
  • If you’re excited about an investment, it’s probably a bad idea.
  • A penny saved is more than a penny earned.
  • Market corrections come more regularly than birthdays – expect them.
  • Debt is a four letter word too.

Stay Tuned, Disciplined & Patient! {TJM}

The Investor & Character Equation (ICE) | S + R = O

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