💎 *22 Pearls of financial wisdom* 💎 *1) Bonds are for storing wealth and equities are for creation of wealth*. *2) In my opinion, the biggest asset one can have is zero debt*. *3) The greatest discipline in personal finance is living below your means*. *4) As Ben Carlson says, emotions cannot be back tested. That s why past bear market always looks like opportunities and future ones scary*. 5) Early financial independence and early retirement are completely different. To me, the former is a blessing and the latter is a curse. *6) Don t think how it would have been if you ve started 10 years ago. Start today and visualise how you would feel 10 years from now*. 7) The neighbourhood we live determines our life style & spending. Need to be careful in choosing one which matches our goals and personality. *8) Paying minimum balance regularly on credit card is the maximum sign that you re getting into debt trap*. 9) Many are long term investors till next bear market. *10) Don t take aggressive bets. Take measured risk. Remember one blunder can push you back by a decade or more in terms of wealth*. 11) Big money can be made through high savings, wise investing and lots of patience. *12) One sign of progress in individual investor s portfolio is no churn or very less churn*. 13) Trying to get rich fast is a foolproof way to lose what we have. *14) Losing opportunities is far better than losing money. Don t invest in fads*. 15) Making as much money as quickly as possible is not an investment strategy. Unfortunately for most of us that is the strategy. *16) Aggressive strategy cannot be a substitute for high savings. Save high and take moderate risk than saving less and taking high risk*. 17) The day we realise not losing is as important as winning we would stop blindly chasing returns. *18) Good periods are more than bad periods. By not timing, though we go through bad periods, do not miss even a single good period*. 19) We ll stop looking for quick money the moment we consider stocks as businesses and realise that our wealth grows in line with business growth. *20) There are periods of high returns, low returns, no returns and negative returns. We need to go through all these to get long term returns*. 21) Listening to market forecasts is not only useless but can be very harmful too if you start acting on them. *22) The hard truth is only around 3% of our population are in a position to aspire for financial independence. Don t waste this rare privilege*.
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💎 *22 Pearls of financial wisdom* 💎 *1) Bonds are for storing wealth and equities are for creation of wealth*. *2) In my opinion, the biggest asset one can have is zero debt*. *3) The greatest discipline in personal finance is living ...
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