Learn more about moneyandinvestments with this collection
How to apply new knowledge in everyday life
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4.
In the beginning, focus the vast majority of your effort on boosting your income & savings rate
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6.
The P/E ratio is only useful when a company is fully optimized for profits (stage 4)
It's most deceiving in stages 3 & 5
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2.
It's a FAR bigger mistake to sell a mega-winner early than it is to hold a mega-loser too long.
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3.
Compounding pays off the most in the out-years
Optimize for longevity first, everything else second
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1.
Stock prices & business profits are not at all linked in the short-term, but they are 100% linked in the long-term
Watch the business, not the stock
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10 critical investing lessons I wish I could teach my younger self
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I've been investing for 18+ years I've made TONS of mistakes along the way here are 10 critical investing lessons I wish I could teach my younger self:
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Other curated ideas on this topic:
Save Money
Building wealth has little to do with your income or investment returns and more to do with your savings rate. The value of wealth is relative to what you need. A high savings rate means having lower expenses than you otherwise could, and having lower expenses means your savings ...
Personal Finance: Wealth Creation
Savings = Income - Expenditure, i.e. increase your income & decrease your expenditure to increase savings.
Follow budgeting principle:
- Needs: 50% of Total Income,
- Wants: 30% of Total Income,
- Savings: 20% of Total Income.
Smart ways to save more:
20%: Savings
Finally, try to allocate 20% of your net income to savings and investments. This includes adding money to an emergency fund in a bank savings account, making IRA contributions to a
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