Through the years I’ve passed lots of investment advice, and I believe I’ve gotten it right most of the time. Lately, though, I asked myself: What’s the best advice I have ever heard?
I’ve been lucky to hear a lot of excellent advice.
Rule No. 1: Never lose money.
Rule No. 2: Never forget Rule No. 1.
I’ll share a few of my favorite tips. I’m sure you’re already familiar with some, but a couple are being published here for the first time.
This may sound naive, but, believe me, it isn’t: If you want to be wealthy, you must not lose BIG money. Absurd? Silly? Maybe, but MOST PEOPLE LOSE MONEY in disastrous investments, gambling, rotten business deals, greed, poor timing, in the stock market, in options and futures, in real estate, in bad loans, and in their own businesses.
At the top of this list might be this: “Don’t invest in anything you don’t understand.” This is good, as far as it goes. Way too many people get into complex, expensive, risky investments, only to be stunned when things don’t turn out for the best.
I’ve been lucky to hear a lot of excellent advice.
Rule No. 1: Never lose money.
Rule No. 2: Never forget Rule No. 1.
I’ll share a few of my favorite tips. I’m sure you’re already familiar with some, but a couple are being published here for the first time.
This may sound naive, but, believe me, it isn’t: If you want to be wealthy, you must not lose BIG money. Absurd? Silly? Maybe, but MOST PEOPLE LOSE MONEY in disastrous investments, gambling, rotten business deals, greed, poor timing, in the stock market, in options and futures, in real estate, in bad loans, and in their own businesses.
- An investment in knowledge pays the most interest.
- Beware of expenses. A small leak will sink a great ship.
- Buy index funds instead of individual stocks.)
At the top of this list might be this: “Don’t invest in anything you don’t understand.” This is good, as far as it goes. Way too many people get into complex, expensive, risky investments, only to be stunned when things don’t turn out for the best.
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ONEZYPHER © LTD-2021: All rights reserved.