When I started investing, I knew nothing.
I went from knowing nothing about investing to being a good investor after learning a few easy principles. I’ll tell you the gist so you don’t have to waste another second trying to figure this “investing thing” out or another dollar to an advisor who doesn’t understand this.
The principles are simple:
-Choose what you are not going to do. It’s a lot easier to single the wrong things out rather than choosing among millions of ‘right’ options.
-Markets are complex. People want answers. There are no complete answers. Get comfy with that.
-Focus on what you can control
-Build in margin (live below your means)
-Avoid consumer debt
-Assign your money a job (spending, saving, investing, giving). Don’t just put it a pot.
-Favor long-term over short-term
-The best time to invest is yesterday
-Determine how much is enough well before you’re even close to getting there