Learn more about moneyandinvestments with this collection
Understanding the basics of cryptocurrency
How to store cryptocurrency securely
Risks and benefits of investing in cryptocurrency
You're not obsessive
Check on your asset allocation periodically to ensure it matches your overall risk tolerance. Do not obsess over the details that could lead to emotion-fueled mistakes.
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294 reads
MORE IDEAS ON THIS
You're focused on the 'big wins'
Focus on the 5-10 Big Wins, rather than 50 little things.
For example, paying down debt, saving automatically, negotiating a higher salary, and investing early will have a much greater impact than forgoing your morning coffee.
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248 reads
Your income is higher than last year,
... but your spending hasn't changed.
Increasing your earnings is a form of leverage, whether you scored a raise, landed a better-paying job, or created a second or third income stream.
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209 reads
You have no high-interest debt
Consumer debt kills wealth.
The average credit card charges an APR of 17% while the stock market returns an average of 7% to 8% each year, adjusted for inflation.
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219 reads
You have financial goals
Create a roadmap to increase your chances of achieving your financial goals.
It might be worth it to work with a financial adviser to set specific goals and have a plan in place.
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233 reads
You max out your retirement accounts every year
If you can afford to put the full $19,000 into your 401(k) this year,
- you multiply your earning potential in the market,
- you can score if your company offers to "match" your contribution,
- You only pay income tax on it later, but for now your money grows tax-free.
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415 reads
You don't keep too much cash
Never keep more than you need in cash or in a checking account.
Grow your money in the short-term by storing it in a high-yield savings account or certificate of deposit.
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281 reads
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Other curated ideas on this topic:
Asset Management
Asset management is the practice of increasing total wealth over time through acquiring, maintaining, and trading investments that have the potential to grow in value.
However, we must keep in mind that asset management has a double-barreled goal which increases value while mitigating risk ...
Delegation is not allocation
Allocation is giving other people work to do.
Delegation is giving other people some of your own work to do, where you give them the whole problem to solve, not just a task on its own.
#2 Not Taking Chaces
This could be trying out that new job that excites you, though feels like a risk.
It could be asking out that person who has captured your interest, but who you are intimidated to talk to.
For many of these, though certainly not all, you’ll regret not having taken the chance, ...
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